I don't get it, it is just not right | Page 2 | Forex Factory

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I don't get it, it is just not right

  • #21
  • Oct 2, 2006 4:55pm Oct 2, 2006 4:55pm
Reading a thread like this is why we keep calling FF our home on the FXweb!

Fdisk you know after reading all the above great posts that you are in good company!

I know that some call FX a zero-sum or negative-sum "game". Well let me tell you all, that i've received more in encouragement and commradery just from hanging out with such a great group of people over the last year that NOBODY, NoOne, can tell me my FX journey is a ZEROsum! I've come away the winner in spirit/soul if nothing else ( : and i know the pips will come down the road in sufficient quantity to release my from my J.O.B. : )

Best wishes, and good trading Fdisk.
Thom
  • #22
  • Oct 2, 2006 6:08pm Oct 2, 2006 6:08pm
That InnerWorth article is worth the gold that dragon is hording.

As far as your friend -- he's really cheating himself. As the saying goes: "Give a man a fish, he eats today. Teach a man to fish, he eats for a lifetime."

Your friend is only going to have whatever success that software chunks out for him. When it goes wrong, he won't have any clue what to do about it. No more fish!

You on the other hand, don't have any fish yet but you do have a nice pile of fishhooks.
  • #23
  • Last Post: Oct 2, 2006 6:10pm Oct 2, 2006 6:10pm
Quoting SkYliNe0511
The Article.
Excellent! Should be a tremendous ledge for apprentice traders to hang a hat on. In my inconsequential effort to elaborate on it I would like to submit the following for the review of our members. They are merely my ponderances of the article.

Quoting SkYliNe0511
Throughout our lives, we are told that the key to success is to compete with others, and beat them. We compare ourselves to others, inspire ourselves to do better, and try to outperform our peers. But when it comes to trading, you aren't actually competing with anyone but yourself...
Very True if you live or were raised below the 49th in the Western World. This is a very typical {not to say it is not worthwhile} American mantra. But it should be understood that this mantra is not Common throughout the Globe or even across various cultures.

Quoting SkYliNe0511
When it comes to trading, an obsession with winning can actually do more harm than good.
Depends on how you manifest that obsession. Before you place the Trade OR While you are in it?

Quoting SkYliNe0511
Comparing our performance with others does seem to have some advantages. Knowing that a goal is attainable is often a powerful motivator, for example.
.. Ironically, people who achieve great things usually work independently. They follow their own timeline, follow their own passion, and look inward for where to go next...
You are the only one who must find a method that matches your aptitudes and personality. Comparisons to other traders can often prove problematic. How you perform has nothing to do with how others perform.
[Ergo, How you perform has no effect on how others perform.] Not true in this case. If I Win, You Lose. If You Win, I lose. [Think about it]

Quoting SkYliNe0511
... comparisons are likely to cause upsetting emotions, such as jealously or envy. Upon seeing that you are doing relatively poorly compared to a fellow trader,
Learn to deal with it. Until you do, stay in the penny anti game.

Quoting SkYliNe0511
Upon seeing that you are doing relatively poorly compared to a fellow trader, you are likely to think distracting thoughts such as, "Why can't I do as well?" or "I must not be as good of a trader as I had thought," Such thinking does nothing to keep you focused on honing your trading skills.
98% agreed. I'm not sure that focusing on honing my trading skills. will actually hone my trading.

Quoting SkYliNe0511
Don't look at anyone else's record but your own.
Absolutely 100% agreed. Why do you think most of the vets here are unwilling to post their results. Because it would probably do more harm than good.


Quoting SkYliNe0511
You'll often be tempted to compare your current performance to that of others. That's how it's been throughout your life, and it's not easy to change a lifelong pattern overnight. But with trading, you must restrain this urge. Everyone has a different learning curve. To keep your spirits up, you'll do best as a trader to focus on improving your past performance record in your own time and in your own way, rather than trying to match other traders.
To me, this is too ambiguous. Should I be looking to improve my Win Loss ratio? Net $ Profit? The Stress I expose myself to? or the Time I spend with my family & friends? Or ...


Quoting SkYliNe0511
You don't know what factors created their performance records, so comparisons can only mislead and hinder you. Other people's records do not have a direct bearing on your own record. Who cares if you make 50% less than other traders? Your energy should be focused on making yourself a master trader as defined on your own terms, not on beating others. Such comparisons will only disappoint and distract you. Focus on you, the markets, and nothing else. You will trade more calmly, creatively and profitably.
The blue text I agree with 100%
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