The two things that I feel I lack (and need) most are patience and common sense...
It comes from many things but primarily from the artificial pressure of daily trading I put on my shoulders, as it were a job where you have to produce a certain output every day. This has brought me into a downward spiral which ended up costing me more money than I couldn't believe had someone told me I would lose. I would have said "Of course not, I would stop before that", but the same goes for any addiction I suppose.
It has nothing to do with strategy or method, it has only to do with psychology. PASR is simple, accepting it is complicated, as it is complicated to accept many simple things in life, it has to do with agreeing to accept reality for what it is rather than for what you want it to be.
I believe there has never been any work done on the psychological profile of FF members, but I think that many people are not here just because they are only attracted by the get rich quick magic formula, I think there is a deeper need that has to do with not accepting reality as it is and wanting it to coincide with our expectations, even if it destroys us in the process. This appears on many other areas of life, be it relationships, marriage, parent/child interaction, work, and some of these probably stem from what happened in an earlier period of their lives.
To some extent, it is a form of perceived injustice that losing traders try to fight, not just on the market battlefield, but to vindicate them for other perceived injustices in other parts of their lives. But there is no injustice, there is only what there is, looking at it with our own eyes shouldn't change what it actually is. The same goes in life, there is no injustice, only reality that one must accept and adapt to as reality will never adapt to you, the same way the Queen will never adapt to your trading decisions.
Successful traders have many traits in common, but one that stands out is that they don't bring their emotions/ego/traumas into the trading zone. They are at peace with themselves. That's what I will work on rather than honing any other, yet highly needed skill. It is harder for those who are already in their mature years as there is so much to unlearn, so much waste to throw out, before being able to bring in and accept new information. I guess that tells you I am no spring chicken.
Finally, I believe Strat's advice on trading on higher timeframes is somewhat less about maximizing profit but more about maximizing life spent doing something else, because, the rarest and most limited asset we all have is time, and it flees fast. This is probably the most important thing I have said in FF in all these years, don't get too old to realize it.
With that, I will give Strat his soapbox back, but I wanted to bring a more human touch to our daily interactions. Behind charts, analyses, and CAPS, we are all people
.
A great week end to all
It comes from many things but primarily from the artificial pressure of daily trading I put on my shoulders, as it were a job where you have to produce a certain output every day. This has brought me into a downward spiral which ended up costing me more money than I couldn't believe had someone told me I would lose. I would have said "Of course not, I would stop before that", but the same goes for any addiction I suppose.
It has nothing to do with strategy or method, it has only to do with psychology. PASR is simple, accepting it is complicated, as it is complicated to accept many simple things in life, it has to do with agreeing to accept reality for what it is rather than for what you want it to be.
I believe there has never been any work done on the psychological profile of FF members, but I think that many people are not here just because they are only attracted by the get rich quick magic formula, I think there is a deeper need that has to do with not accepting reality as it is and wanting it to coincide with our expectations, even if it destroys us in the process. This appears on many other areas of life, be it relationships, marriage, parent/child interaction, work, and some of these probably stem from what happened in an earlier period of their lives.
To some extent, it is a form of perceived injustice that losing traders try to fight, not just on the market battlefield, but to vindicate them for other perceived injustices in other parts of their lives. But there is no injustice, there is only what there is, looking at it with our own eyes shouldn't change what it actually is. The same goes in life, there is no injustice, only reality that one must accept and adapt to as reality will never adapt to you, the same way the Queen will never adapt to your trading decisions.
Successful traders have many traits in common, but one that stands out is that they don't bring their emotions/ego/traumas into the trading zone. They are at peace with themselves. That's what I will work on rather than honing any other, yet highly needed skill. It is harder for those who are already in their mature years as there is so much to unlearn, so much waste to throw out, before being able to bring in and accept new information. I guess that tells you I am no spring chicken.
Finally, I believe Strat's advice on trading on higher timeframes is somewhat less about maximizing profit but more about maximizing life spent doing something else, because, the rarest and most limited asset we all have is time, and it flees fast. This is probably the most important thing I have said in FF in all these years, don't get too old to realize it.
With that, I will give Strat his soapbox back, but I wanted to bring a more human touch to our daily interactions. Behind charts, analyses, and CAPS, we are all people
.A great week end to all
