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TEN-THOUSAND IN EDUCATION, FINALLY PAYING OFF


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TEN-THOUSAND IN EDUCATION, FINALLY PAYING OFF

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  #201 (permalink)
Bala, PA, USA
 
Experience: Intermediate
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bluemele View Post
You are spot on except that for me personally it helps inspire while I struggle to be a profitable discretionary trader. Kind of like if you signed up for a university and there was no limit in sight for graduation. Some people take 20 years, some never, some 2 years, some 2 months.

Some will be happy with an Associates (2 year degree) instead of the Bachelors (Full undergraduate) and be happy with a few hundred bucks a day and live a middle class lifestyle which is great! Others, they want the big money, want to trade 400 contracts a hit and want to make a few million a month.

Seeing someone 'graduate' offers inspiration to those others who have been on the 'slog'.

You are different in that you like mechanical trading and happy with your concept. Others are not or are in the growing stage. You say, "Why not do what I did as it is so obvious?". Good question, but just like wanting to see the statement, not something I guess I can answer.

Yeah, different personalities require different motivations. I never really asked anyone if they were profitable with their method, I never really cared. But what I want to know is what is the method? How does it work? I didn't care if that person made money with it or not, if that person was profitable or not. I knew that if the method was sound, and it fit my personality, then I would do the work to make it work for me, or at the very least, pick up a nugget or two of wisdom from it that increases my understanding. Never really needed inspiration, just the tools to get me started, get down to the nitty gritty, take the method apart, put it through the paces, make it prove itself. Just different personality types I guess.

That's what I try to do when I advise people about the method I use. Here's what worked for me, go kick the tires, see how it does for you.

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  #202 (permalink)
Honolulu, Hawaii
 
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I enjoyed this from "Trading in the Zone"


Quoting 
Most of those who successfully break the cycle don't make the shift in thinking until they have
experienced so much pain from large losses that it has the positive effect of stripping away their
illusions about the nature of trading. With respect to your development, the how of their transformation
is not that important, because in most cases it happened inadvertently. In other words, they weren't
completely aware of the shifts that were taking place inside their mental environment until they
experienced the positive effects their new perspective had on the ways in which they interacted with the
market. This is why very few top traders can really explain what accounts for their success, except to
speak in axioms like "cut your losses" and "go with the flow."


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  #203 (permalink)
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bluemele View Post
I enjoyed this from "Trading in the Zone"

In particular, I agree with this part:

Quoting 
This is why very few top traders can really explain what accounts for their success, except to
speak in axioms like "cut your losses" and "go with the flow."

I would explain it by simply using the word "experience". But a lot of people dismiss that as being evasive, when really that isn't the intention. Once you stop chasing the holy grail and stop focusing on a million indicators and setups, and truly start working on your own trading, then it is just a matter of time, patience, and discipline to be successful.

Of course, few people truly have the time, patience, and discipline - which is why you see so many going after what they perceive as "short cuts", like third party vendor solutions, trade rooms, someone else's trade method, etc etc.

Mike

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  #204 (permalink)
new york
 
Experience: Intermediate
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rtrade View Post


bobby, bobby, bobby, from my last post I alluded that you may need psychological assistance. You are beginning to confirm this. It would seem that you have TRUST issues and you also have psychological conflicting views between your conscious and subconscious.

From what I'm seeing from your posts, your conscious wants to believe but your subconscious does not. It would explain after a SUCCESSFUL Trader takes the TIME to show you positive results you first believe but only to sabotage that belief by disbelieving. This would explain why you have your type of trading results.

I think you need to take care of the issues from my last post first before you continue trading....like Stop Drinking, Pay back your 401k, etc.

Just my 1 cent...(the 2 cents has been devalued by the dollar)

Hi,
Thanks for the psych eval.
Yes I did plant the seed of disbelief, put only becouse someone earlier had already turned the soil, I think it was Monpere

Hey, if I can recover my losses, I may consult a counselor. Can you recommend a good one!

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  #205 (permalink)
Bala, PA, USA
 
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bobbyacim View Post
Hi,
Thanks for the psych eval.
Yes I did plant the seed of disbelief, put only becouse someone earlier had already turned the soil, I think it was Monpere

Hey, if I can recover my losses, I may consult a counselor. Can you recommend a good one!

Not sure if that was a compliment or a blame! But, I would say here be cautious not to trade with the goal of recovering your losses, but rather with the goal of trading well, and let the money take care of itself. The moment you start thinking about recovering your losses, psychologically it will affect your trading, most likely by pushing you to take profits too early, or taking on additional risk, to satisfy the subconscious goal of reducing the recovery amount in order to achieve that goal.

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  #206 (permalink)
Paradise, USA
 
Experience: Beginner
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bobbyacim View Post
Hi,
Thanks for the psych eval.

Your welcome.


bobbyacim View Post
Yes I did plant the seed of disbelief, put only becouse someone earlier had already turned the soil, I think it was Monpere

Hey @monpere, it's ALL YOUR FAULT.

You know, denying responsibility and blaming fault on others goes way back into the Biblical days...you remember Adam and Eve?

Bobby, just remember....WHO made that DECISION "to plant the seed of disbelief," YOU or monpere? That's why I love trading...you can't LIE to the markets.

You'll be surprise to see what kind of answers you get when you look at yourself in the MIRROR.


bobbyacim View Post
Hey, if I can recover my losses, I may consult a counselor. Can you recommend a good one!

I just posted on my journal not get involve in other peoples drama... ... but since you're asking, I'll go as far as I sense your sincerity.

Bobby, you have things a bit backwards....it's not, "I can recover my losses, [then] I may consult a counselor." No, no, no... it's "I will consult a counselor, THEN I will recover my losses!!!"

I'll tell you what, yesterday I posted a good trading series call Million Dollar Trader. <<< ya, click it.

I want you to watch it COMPLETELY from episode 1 to 18. And I want you to tell my which of these traders you associate with...I'm not talking about physicality, but in terms of psychology, emotions, mannerisms, etc.

When you're done let me know....

"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
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  #207 (permalink)
Chicago IL
 
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@rtrade
I could be wrong and I don't want to speak for Bobby, but I think he was just joking around when he said that about monpere. A bit of satire maybe....

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  #208 (permalink)
Paradise, USA
 
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forrestang View Post
@rtrade
I could be wrong and I don't want to speak for Bobby, but I think he was just joking around when he said that about monpere. A bit of satire maybe....


Yes forrestang, you are probably correct...that is why I was just bantering him in a joking nature.

"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
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  #209 (permalink)
Chicago IL
 
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rtrade View Post
Yes forrestang, you are probably correct...that is why I was just bantering him in a joking nature.

LOL.... I guess that would make ME the one without a sense of humor!

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  #210 (permalink)
new york
 
Experience: Intermediate
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monpere View Post
Not sure if that was a compliment or a blame! But, I would say here be cautious not to trade with the goal of recovering your losses, but rather with the goal of trading well, and let the money take care of itself. The moment you start thinking about recovering your losses, psychologically it will affect your trading, most likely by pushing you to take profits too early, or taking on additional risk, to satisfy the subconscious goal of reducing the recovery amount in order to achieve that goal.

Thank you counselor!

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