{quote} Meditation is not a tool, like something you use to stop thinking. That is just a temporary expression. One day I was on a train and I was feeling very bad, why? because I was tensed. Then a hadicapped guy appeared, he was walking vey slowly and there was a message on his t-shirt: "stand up and face the beast". that is mediation. it is not the search for peace, rather the search for our "inner demons".
Most traders fail because of no discipline!
- #1,084
- Nov 18, 2017 2:52pm Nov 18, 2017 2:52pm
- Joined Apr 2015 | Status: Trader | 1,756 Posts
{quote} :-). for me this message "stand up and face the beast" is at 1000% pure motivation (same level at your 2 other examples) , not best text for motivation of course, more funny text for joking. but there are no fix rules for this, so it can be different for you.
- #1,085
- Nov 18, 2017 3:21pm Nov 18, 2017 3:21pm
- | Membership Revoked | Joined Mar 2010 | 2,525 Posts
{quote} well I know you want to be right all the time. and I know for sure that one day you will realize the importance of this message. of course now you are "blessed", just wait and see...
but when you really thing your sentence is you need to work hard in life, then even for you its more motivation and not really meditation. meditation is cooling down the brain by concentration training and mindfullnes training,.... . maybe we define meditation completly different? what is meditation for you?
and i dont want to be often right, i am often right because i did learn a long time a lot of things:-). thats a difference , when you have a argument, why i am not right with whatever topic i will always accept it.
- #1,091
- Sep 2, 2018 6:59am Sep 2, 2018 6:59am
- Joined Aug 2015 | Status: Coding Magician | 2,676 Posts
{quote} Good list but missing a lot of other reasons why. https://www.forexfactory.com/showthread.php?t=809399
Yes...you will do it much better than hanover...
Here his list:
Yet another thread on why traders lose.......
Perhaps I might be permitted to list just a few of the reasons that have been posted elsewhere?
No proven methodological edge
Lack of knowledge and experience
No trading plan
Failure to accept losses (causes recovery systems, irrecoverable open losses, revenge trading)
Poor or non-existent risk management (i.e. focusing on return over everything else)
Making decisions based on P/L rather than market probabilities/behavior (focusing on the money, rather than the process)
Undercapitalization (causes greed, overtrading, overleveraging) -- [NOTE: according to many br0kers, this is the most common cause of failure]
Over-reliance on money management (including ideas like same-pair hedges, baskets, grids, averaging down recklessly, martingale variants)
Complacency: a lack of respect for the market
Laziness: trying to find a color-by-number shortcut to riches (i.e. make the most money in the shortest time with the least effort)
Adherence to "$250 to $100,000 in 6 months" type notions
Adherence to trading myths
Lack of discipline
Lack of patience
Lack of resilience (unable to bounce back after losses)
Lack of composure/nerve (afraid to "pull the trigger")
Lack of stamina (quit too quickly)
Lack of dedication (failure to put in the required number of hours of study)
Failure to understand the importance of statistical validity, and the nature of statistical fluctuation
Failure to keep a journal
Over-reliance on automated systems (EAs)
Over-reliance on technical analysis (using tools that "don't work")
Exiting too early (should take higher RR trades)
Exiting too late (should take lower RR trades)
Hindsight bias
Confirmation bias
Recency bias
Apophenia
Curve fitting
Strategies that test profitably, but are not grounded in real market inefficiencies
Randomness of price movement
Letting outside noise affect your decision making
Underestimating the effect of br0ker costs
Underestimation of the amount of expertise that is required
An inability to spell the word "lose" (just kidding)
Vucking good EA coder... https://t.ly/AZjRM
- #1,092
- Sep 2, 2018 7:06am Sep 2, 2018 7:06am
{quote} Yes..this list is really short...but be patient with hanover...he has only 8000 post is not so long here!
If I can convince everybody , they need a trade management EA , to be successful, you can go to commercial section and sell trade management eas.I can bump up threads and prove why they need an EA.
