I must say that I rather enjoy these confession threads that have been popping up on futures.io (formerly BMT). Confession clears the soul, allows us to be at peace with ourselves and others, and most importantly, lets us place trades without subconscious guilt.
Thanks for sharing.
"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
The following 3 users say Thank You to Anagami for this post:
I always wondered what was the mindset of the trader who runs a chatroom. You are really courageous to lay the truth out - that's nice.
You know traders talk alot about traders' fear of losing money. I wonder if there isn't a deeper fear. The honest truth is, we don't really make anything apart from money. Unless we fill some obscure role in the marketplace I can't figure out. Are we adding liquidity? Some kind of key economic function? It seems to me, all we are doing is making money for ourselves. I'm not saying that's bad - far from it - just that it might leave us feeling insecure inside on some deep level we're not always aware of. Because that means we are dependent on other people. If the stock market were to become regulated, or go away, or some unforseen event happen, we could not work. We would be left high and dry. I read somewhere a quote by a trader to the effect that what makes him nervous is that he can trade well, but he cannot create opportunity in the market.
So maybe some traders are attracted to creating educational products and opening chatrooms because they feel more secure that way, like they have a "real job", though now that I type this paragraph, I realize it doesn't totally make sense, as that "real job" is still dependent on the potentially-evanescent activity of the market.
Well anyways, I agree with you that it's silly to regret having spent money on systems or chatrooms you don't ultimately adopt as your own. You have to start somewhere and build up experience somehow. I started in a very odd way, following a system I don't follow anymore, but it taught me alot nonetheless and I don't regret it. I'm sure your subs got valuable info from your room.
I'm not surprised to hear you couldn't trade and chat at the same time! I abandoned all chatrooms for that same reason. Trading takes serious focus. I do twitter now and can barely keep up with tweeting my trades and looking at the stream - sometimes I just shut that down, too. I agree futures.io (formerly BMT) is very useful - a great resource. Peeps are practical and answer your questions.
Well sorry to ramble on.
Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
The following 2 users say Thank You to Maisie for this post:
Thanks for the comments.
I really do have nothing to hide.
I am so MUCH happier and relaxed in my trading...
I am going on with a nice winning streak and I am also done for today.
My blood pressure is low, LOL