Okay Ha-Pattern, I'm back...chewing on Post 157 some more
Yes, and there's a parallel to your further notes on this: Experienced would-be traders do something similar. They may know the answer to a trade, only not trade it due to extraneous opinions about them in their own life. Insecurities underlie their trading, also,
about how much their contributions: Technical studies that further that field, showing good trading attitudes when winning consistently. Of course, the former may easily exist, the latter rarely.
Please tell me if I got this right...
Also, about how much their contributions (labels) i.e. technical studies further that field (knowing the answer and not trading???). A little fuzzy for me here...Got the part that good trading attitudes = winning consistently (or at least I think I got the point you are making). Also got the message that the former, meaning the trader who knows the answer and doesn't trade easily exists...the consistent winner, rarely.
The central focus for me was that you condition yourself in the market to respond correctly to a certain thread of information from the market
At the same time:
(1) "The tell-tale sign of trading addiction is a trader who cannot refrain from trading--even when markets are objectively offering no opportunity."
Yes and yes to that.
...Only, what is objectivity in trading, except a guess at the future?
I understand the idea behind your point here, but the use of the word "guess" is a little troublesome for me, but very beneficial to the discussion. Here's why:
From The Free Dictionary (.com):
guess (ghttp://img.tfd.com/hm/GIF/ebreve.gifs)v. guessed, guess·ing, guess·es
v.tr.1. a. To predict (a result or an event) without sufficient information.
b. To assume, presume, or assert (a fact) without sufficient information.
This could be a major reason traders run into problems. Firstly, they feel as though they have to predict which way the market is going to go, rather than wait for the market to "tip its hand": in other words, show its bias. A bias is an inclination to favour one thing (in this case, a direction) over another. A trading edge should reveal/expose the market's bias: what's already there; or what's happening in the "now" moment. Traders make the decision to trade, and many times, actually do place the trade, BEFORE their entry or even exit criteria have been fully met by the market. Since they "own it" at that point, they don't want to give it back, even if they are wrong. If a trader has a real edge that they've tested, they will know when it shows up. They will have sufficient information, and if they don't, they probably shouldn't click. We all know something surprising can happen to change the actual outcome, but, in most cases, traders are not waiting: they're flipping a coin then crossing their fingers, or trying to predict then hoping they were right. That, in my estimation, is not trading. I think that is where many traders miss it.
So an inner challenge is created through addiction, to better one's edge. If it's at the sacrifice of one's profit, then self-acceptance of one's limitations is necessary.
Yes and yes: self-acceptance and limitations where necessary should be the order of the day.
I appreciate the post (and this thread).
Glad you do. Many thanks.
FX4
Yes, and there's a parallel to your further notes on this: Experienced would-be traders do something similar. They may know the answer to a trade, only not trade it due to extraneous opinions about them in their own life. Insecurities underlie their trading, also,
about how much their contributions: Technical studies that further that field, showing good trading attitudes when winning consistently. Of course, the former may easily exist, the latter rarely.
Please tell me if I got this right...
Also, about how much their contributions (labels) i.e. technical studies further that field (knowing the answer and not trading???). A little fuzzy for me here...Got the part that good trading attitudes = winning consistently (or at least I think I got the point you are making). Also got the message that the former, meaning the trader who knows the answer and doesn't trade easily exists...the consistent winner, rarely.
The central focus for me was that you condition yourself in the market to respond correctly to a certain thread of information from the market
At the same time:
(1) "The tell-tale sign of trading addiction is a trader who cannot refrain from trading--even when markets are objectively offering no opportunity."
Yes and yes to that.
...Only, what is objectivity in trading, except a guess at the future?
I understand the idea behind your point here, but the use of the word "guess" is a little troublesome for me, but very beneficial to the discussion. Here's why:
From The Free Dictionary (.com):
guess (ghttp://img.tfd.com/hm/GIF/ebreve.gifs)v. guessed, guess·ing, guess·es
v.tr.1. a. To predict (a result or an event) without sufficient information.
b. To assume, presume, or assert (a fact) without sufficient information.
This could be a major reason traders run into problems. Firstly, they feel as though they have to predict which way the market is going to go, rather than wait for the market to "tip its hand": in other words, show its bias. A bias is an inclination to favour one thing (in this case, a direction) over another. A trading edge should reveal/expose the market's bias: what's already there; or what's happening in the "now" moment. Traders make the decision to trade, and many times, actually do place the trade, BEFORE their entry or even exit criteria have been fully met by the market. Since they "own it" at that point, they don't want to give it back, even if they are wrong. If a trader has a real edge that they've tested, they will know when it shows up. They will have sufficient information, and if they don't, they probably shouldn't click. We all know something surprising can happen to change the actual outcome, but, in most cases, traders are not waiting: they're flipping a coin then crossing their fingers, or trying to predict then hoping they were right. That, in my estimation, is not trading. I think that is where many traders miss it.
So an inner challenge is created through addiction, to better one's edge. If it's at the sacrifice of one's profit, then self-acceptance of one's limitations is necessary.
Yes and yes: self-acceptance and limitations where necessary should be the order of the day.
I appreciate the post (and this thread).
Glad you do. Many thanks.
FX4