Just BEING a Trader: Letting Go!!

iqgod · (login for full post details)

Why be so obsessed with Money?

How about being a trader because you LOVE being a trader?

And that probably is the secret of being a SUCCESSFUL trader - just BEING!

Just be, let go of the profits.

Let go of the losses.

Let go of the missed trades.

Let go of targets, schedules, over-analyzing, over-journaling, over-planning.

Just Be!!

And watch the magic happen to your account, and how you naturally buy low and sell high!!

Side benefits:

Ego: Dissolves! Greed: has left the building! Fear: is denied entry!

P.S.:

These are all of my rules,
lest you think they are for fools,
Let me create this journal,
And show you my process so simple!

iqgod · (login for full post details)

A sample trade taken just now, will dive into the 'simplicity' part in the next posts:

LMAX Trade 1 futures

Daytrader999 · (login for full post details)

iqgod

Why be so obsessed with Money?

How about being a trader because you LOVE being a trader?

And that probably is the secret of being a SUCCESSFUL trader - just BEING!

Just be, let go of the profits.

Let go of the losses.

Let go of the missed trades.

Let go of targets, schedules, over-analyzing, over-journaling, over-planning.

Just Be!!

And watch the magic happen to your account, and how you naturally buy low and sell high!!

Side benefits:

Ego: Dissolves! Greed: has left the building! Fear: is denied entry!

P.S.:

These are all of my rules,
lest you think they are for fools,
Let me create this journal,
And show you my process so simple!

Very well said, I fully subscribe to that!

Looking forward to your journal.

Mtype · (login for full post details)

iqgod

Let go of the losses.

Let go of the missed trades.

Let go of targets, schedules, over-analyzing, over-journaling, over-planning.

Just Be!!

Powerful words and thoughts! Let's see where they will take you.

LastDino · (login for full post details)

Will be looking forward to your journal. Love the first line, "why be obsessed with money"

chalito · (login for full post details)

iqgod

Why be so obsessed with Money?

How about being a trader because you LOVE being a trader?

And that probably is the secret of being a SUCCESSFUL trader - just BEING!

Just be, let go of the profits.

Let go of the losses.

Let go of the missed trades.

Let go of targets, schedules, over-analyzing, over-journaling, over-planning.

Just Be!!

And watch the magic happen to your account, and how you naturally buy low and sell high!!

Side benefits:

Ego: Dissolves! Greed: has left the building! Fear: is denied entry!

P.S.:

These are all of my rules,

lest you think they are for fools,

Let me create this journal,

And show you my process so simple!

There’s more wisdom here then meets the eye. You could make a fortune selling a book on this one concept. I’m looking forward to reading your progress.

Sent using the futures.io mobile app

rollablada · (login for full post details)

Thank you for this message! I too am looking forward to your journal.

This is a mindset I am trying to adopt.

iqgod · (login for full post details)

So what, exactly, is simplicity?

In trading it is understanding the concept outlined in the two pages below:

Page 1

Page 2

Understand this and you have mentally grasped the game. But this is not an observation game! It is a game that needs to be played, albeit from your armchairs, but played it must be!

Even simpler: Don't lose more on a trade than you make on a trade.

Simple? Yes.

Easy? Yes. Err... No!

Read on...

iqgod · (login for full post details)

What is the simpleton's simpleton idea of their reasons for success?

FAITH!

More than one trading book authors stress on this aspect - this is the third pillar of Simplicity.

For something to materialize, you need to BELIEVE it is going to happen.

iqgod · (login for full post details)

So we are building a trading cake here... to reach the cherry on the top, we place the base of FAITH at the bottom.

What next?

When you have enough faith in yourself you will be ready to pile up one layer higher...

And what layer is that?

COURAGE.

The courage to pull the trigger in face of maddening uncertainty and sticking to your guns amidst the shifting landscape.

But lest we get carried away here's what this is NOT:

Courage is not shooting from the hip.

Courage is not do-or-die reckless trading in the face of circumstantial evidence that you are getting it on the face.

Courage is not even about showing up every single day.

Coming to what it IS:

Courage is simply a state of being - it is not putting your mortal self between you and your trading.

Courage is the ability to be formless - the ability to stand away when there is no pressing need to be in the fight.

Courage is the uncanny ability to have ample ammunition when you need it - because of being backed by Faith.

Courage is the power to use the ammunition rightly and judiciously to support your Faith, without wavering at the last moment, without chickening out.

And of not having to explain yourself to anybody, anyone, because it is after all the Courage to Stand Alone.

Daytrader999 · (login for full post details)

Great post!

Definitely something to read and think about every single day before you enter the battlestation....

iqgod · (login for full post details)

Here is a good method to get a grip on Fear... to remember that you are not your Fear.

Practical Fear Mastery

iqgod · (login for full post details)

Perfectionism

What happens when we are riddled by perfectionism

iqgod · (login for full post details)

After Perfectionism, I would like to point out the subtle trap of Consistency!!

Be consistent with your approach, habits and methods, but making widgets out of every market analysis and trying to robotically execute is a silent killer!!!

Before you protest, read on and then decide...

Overattachment

iqgod · (login for full post details)

There are two aspects I battle daily... one that stokes my ego that says 'You have gone pro, baby' which sets up a sure sore losing trade as if to remind me.

The other is the always haunting Anxiety when entering or when in a trade.

Anxiety buster that I use daily (using a pen and paper):

iqgod · (login for full post details)

The other way we use anxiety is what seems to us 'productive'.

Since we are so anxious about what will happen next, we try to remove that uncertainty.

We endlessly analyze, analyze, analyze.

In fact, we do this to such an extent that we seem to be using our 'anal eyes'

And the whole thing is nothing but insanity - going bonkers to find certainty in a market where uncertainty is more of a given than stability.

So what's the way out?

At some point, we realize that Everything is in front of us,

Realize!

Use your 'real eyes'!

iqgod · (login for full post details)

And, if you are on a profitable streak, which everyone goes through until there aren't:

Withdraw periodically

iqgod · (login for full post details)

You are profitable (or even break-even)?

Great!

Now look out for this hidden iceberg lurking - I've dealt with this one, more times than I'd like to mention:

Hidden Motives

iqgod · (login for full post details)

Mind open to learning AND accepting responsibility

iqgod · (login for full post details)

I made money yesterday, but the day before I had five losing trades in a row.

All of them were ES longs in a raging bull market (yesterday the market traded both ways, this is about the day before), but all of them were stopped out.

But I am not proud of those five trades, I took them in 'wrong' places - I lost a little in each, so not an expensive lesson.

But many a time losers happen and there isn't anything I would have done differently in each of those trades - - they are variance' way of saying that the market is the market.

You need to be you.

Every trader is unique and different which is why there are so many varied methodologies making money.

Genuineness. Trade from the heart. (and once that happens there won't be emotional trading anymore)

deaddog · (login for full post details)

iqgod

But I am not proud of those five trades, I took them in 'wrong' places - I lost a little in each, so not an expensive lesson.

But many a time losers happen and there isn't anything I would have done differently in each of those trades - - they are variance' way of saying that the market is the market.

That's contradictory, why wouldn't you do anything different if you took them in the wrong place?

If you followed your plan and ended up with a loss then in my opinion you had a good trade with a bad outcome. You can be proud of those trades.

iqgod · (login for full post details)

deaddog

That's contradictory, why wouldn't you do anything different if you took them in the wrong place?

If you followed your plan and ended up with a loss then in my opinion you had a good trade with a bad outcome. You can be proud of those trades.

Ah yes, you are right! I had composed the post thinking I had taken the trades correctly then on penning it down had realized I was in a tearing hurry!

Thanks for pointing it out!

iqgod · (login for full post details)

This is something to consider when you are on a losing streak:

Bramhachari Mode On

Rrrracer · (login for full post details)

It would be cool if you credited all of the text you are posting. It's all very good.

LastDino · (login for full post details)

iqgod

This is something to consider when you are on a losing streak:

Bramhachari Mode On

Just curious, are you "Brahmachari"?

Has that actually helped in trading? It would be really really interesting to gather data of cases based on these;
1. Married/partnered, with supportive spouse for trading
2. Single, with individual effort towards trading
3. Married/Partnered but spouse in the dark about trading (would be hard to achieve in live in relationship but doable if its just ones in a while stay overs)

I guess, something like correlation analysis would be real good here, sorry but my usually latent researcher is popping its head out atm.

iqgod · (login for full post details)

Rrrracer

It would be cool if you credited all of the text you are posting. It's all very good.

I've been receiving lots of PMs requesting me for the sources.

I've quite a huge collection of trading books, most rubbish, some average, and a very very few that hit the nail on the spot.

So till now here are the two books I've used:

Mindtraps: Mastering the Inner World of Investing by Roland Barach

Mindtraps : mastering the inner world of investing
by Barach, Roland

Publication date 1988
Publisher Homewood, Ill. : Dow Jones-Irwin

You can borrow it for free from:
https://archive.org/details/mindtrapsmasteri00bara_0

And a very few were from:

The Art of the Trade: What I Learned (and Lost) Trading the Chicago Futures Markets
Published October 1st, 2008 by Wiley

iqgod · (login for full post details)

LastDino

Just curious, are you "Brahmachari"?

Has that actually helped in trading? It would be really really interesting to gather data of cases based on these;
1. Married/partnered, with supportive spouse for trading
2. Single, with individual effort towards trading
3. Married/Partnered but spouse in the dark about trading (would be hard to achieve in live in relationship but doable if its just ones in a while stay overs)

I guess, something like correlation analysis would be real good here, sorry but my usually latent researcher is popping its head out atm.

Well, I'm happily married but my spouse does not like me trading at all.

I started trading twelve years ago and kept losing losing losing good amounts for ten years.

And I have a day job (which I love) which probably softened the blows of the market.

But looking at the dedication, her stance has softened a bit, just a bit. :-)

Hope that helps.

iqgod · (login for full post details)

LastDino

Just curious, are you "Brahmachari"?

Has that actually helped in trading? It would be really really interesting to gather data of cases based on these;
1. Married/partnered, with supportive spouse for trading
2. Single, with individual effort towards trading
3. Married/Partnered but spouse in the dark about trading (would be hard to achieve in live in relationship but doable if its just ones in a while stay overs)

I guess, something like correlation analysis would be real good here, sorry but my usually latent researcher is popping its head out atm.

So there is no 'conclusive' proof I can show you given my 'status' but I have noticed that the days I treat the market as a professional occupation i.e. a non-release, non-orgasmic, non-destination-consciousness and GIVE myself to trading instead of 'trying to suck its marrow dry into my coffers' attitude, I find a sense of balance that does not throw me into wild emotions during the trading hours and the balance continues beyond.

What you bring to the table from a 'passionate' state of wanting is very dissipative whereas without any needs and wants the game becomes much much much less stressful and a lot of fun.

Just my observations.

iqgod · (login for full post details)

Viewing the market correctly is the first step

Your approach is determined by your intrinsic view.

In the next four posts I would like to highlight the four views/positions traders take that are apt to be profitable in increasing order.

iqgod · (login for full post details)

Which one is the current you?

Your Program Determines Your Trading Destiny

Program 4 makes the most money, IMHO!

Here it is important to state: This 'Fun' thing is not the gambling rush - in that rush (a kind of madness) you feel hollow somewhere and are trying to swoosh in that vaccum by the thrill of winning - here 'fun' refers to the ease at which you come to the market, go about your business and actually sing while trading!

iqgod · (login for full post details)

Self-preservation = F.E.A.R.= does not equate to capital growth or capital preservation

Fear = consistent losses, check your journal!!!

Daytrader999 · (login for full post details)

Great posts with many very precious nuggets and words of wisdom....

Thanks for sharing them!

iqgod · (login for full post details)

Daytrader999

Great posts with many very precious nuggets and words of wisdom....

Thanks for sharing them!

I really hope people (and that includes me) take them to the heart - these are precious bits of information paid for by real knots in the stomach and real ulcers in the mouth. :-)

Credits: The last two nuggets (and the two that follow) are from 'Chaos Trading' by Bill Williams.

iqgod · (login for full post details)

Greed is good for ANALYSIS, but again not for trading!

iqgod · (login for full post details)

Have Fun

When You Have Fun, You Have Funds

iqgod · (login for full post details)

@Big Mike inspired me to post this poem - it's about a seemingly 'non-supportive spouse'. I thought I had lost it, but luckily it still was tucked in somewhere in my diary

I wrote this poem sometime in the lockdown, and though my wife did not offer support for trading (and equated it to gambling), she was eventually to point the way to the golden middle that came to me as 'balance'. I wrote this poem for her, even though there is no direct support - sometimes 'no support' can actually mean tonnes of silent support by offering discipline instead of pandering to and spoiling an 'already spoilt child'. When you have no excuses left to give her, and turn inwards, and find that your sense of balance was off and waiting inside you all the time :-) :

When I was
an incomplete person
From work I took a pause
To quickly earn a ransom

I took to trading
it seemed
a quick way of printing
Money in reams

I made a pile
Thousands by the hour
And my bile
Tasted my tongue, was sour

I did not mind
My deteriorating health
I was focused hook, sinker, and line
On wealth, wealth, wealth.

She warned me of a-change in Miss Market's style
Dangers of these easy riches without strife
And told me to look yonder
On this thing called life.

But, you know, as it always happens
I ignored her sage advice
But was disappearing, my confidence
And slowly lost most of my dimes.

I almost lost my mind
And though she wouldn't pet me
Her look was both stern and kind
And she gently stood beside me.

Many a time I ignored my duties
And spited her for working overtime...
But suddenly in her words, I could see beauty
Slowly but surely her words began to rhyme.

When I took it slowly
And focused on myself, my family for a while
I sensed how trading turned holy
And finally could take it in my stride.

Sometimes when your wisdom lights go out
Your spouse sometimes holds a candle
In the middle of your dark blackout
And it's a faint glimmer in a losing battle.

The light that shines
Illuminates
Deepest recesses of your mind
And liberates both you and your soulmate.

My humble attempt at poetry.

iqgod · (login for full post details)

Trading is all about action.

But the basis of ACTION in your plan is:

ACTION plan

iqgod · (login for full post details)

The easiest way for me to accept something is to offer that very thing to something bigger than myself - a concept, integrity, honor, love, anything but the limiting self!

Which means you accept RISK - And anyway, for a wise man, ignoring Risk is, well, risky!!

iqgod · (login for full post details)

I will trade RIGHT:

Optimism

As opposed to 'I k
new that I would suck at it' and then it manifests and we usually do:
Pessimism

iqgod · (login for full post details)

Learn the hard way first,
unlike me.

Don't learn the hard lessons
by taking a shortcut

Save years and years of your precious life by doing it the hard way, please!

Faith is Earned Not Bought

Bonus: The hard way is the FUN way!!!!!!

iqgod · (login for full post details)

Credit:

The A.C.T.I.O.N. plan which includes the past few posts is from the book:

The Way of the Warrior-Trader
by Richard D. McCall

Publication date 1997
Publisher McGraw-Hill

Borrow the book at no cost, thanks to the internet archive:

https://archive.org/details/wayofwarriortrad00mcca

Just BEING a Trader: Letting Go!!

Discussion in Trading Journals

Just BEING a Trader: Letting Go!!

NinjaTrader Indicator Challenge!

Journal Challenge w/$1500 prizes from Topstep!

Identifying Setups & Targets Using Profile Charts w/Trevor & Tradovate

Battlestations! Show us your trading desk - $1,500 in prizes!