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The law of attraction and trading

  • #1
  • First Post: Edited Jan 9, 2013 2:26am Feb 13, 2012 12:44am | Edited Jan 9, 2013 2:26am
I call it "the law of attraction" because most of people are familiar with it. Anyways, from hours and hours spent on the computer with strategies, setups, news, etc. I've realized that there is more to it and that is not because I didn't really know about "the law of attraction" for over a decade now but didn't even realized that has so much power over trading. With this in mind over the time it became more and more real to me.
I think that the people that are winning in trading are powerful human beings and either they realize it or not is a fact. This doesn't excuse the fact that people that aren't powerful can't get to this stage but that means that they also have to work on themselves beside the trading.
Lets take a trader that is consistently losing for example and he tries to do just the opposite of what he is doing in order to win and guess what? is he winning? Probably yes, if he is not doing also the opposite of what he was thinking. Subsequently we have to work on understanding our own mind also.
  • #2
  • Feb 13, 2012 5:38am Feb 13, 2012 5:38am
This sounds a bit different from the usual stuff but does make sense.
Better get rich slowly rather than going broke fast.
  • #3
  • Feb 13, 2012 11:51am Feb 13, 2012 11:51am
It does not work in reality. Even if you know that some one sitting next to you is doing just opposite. It affects decision making. Human psychology is very complex.


Quoting piptopip
This sounds a bit different from the usual stuff but does make sense.
  • #4
  • Feb 13, 2012 11:20pm Feb 13, 2012 11:20pm
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  • #5
  • Feb 14, 2012 12:23am Feb 14, 2012 12:23am
Excellent discussion
Trading is mostly psychological. your thoughts about yourself are more important than anything else. Most people have no idea what their own thoughts are let alone the decisive effect they have on everything, including trading results. Finding your own thoughts about yourself is very difficult and facing those thoughts is even harder. Most people live and die without undertaking this enquiry, prefering to "sweep it under the mat". This is why most people lose in the market and yet it hardly rates a mention in the systems section of this forum.
BTC Return This Year: na
  • #6
  • Feb 14, 2012 12:45am Feb 14, 2012 12:45am
Quoting constin
Lets take a trader that is consistently losing for example and he tries to do just the opposite of what he is doing in order to win and guess what? is he winning? Probably yes, if he is not doing also the opposite of what he was thinking. Subsequently we have to work on understanding our own mind also.
If you reverse an unprofitable system, it will still stay an unprofitable system (most likely). Most systems create random to negative signals, even if you reverse them, you will still lose.
  • #7
  • Feb 14, 2012 1:40am Feb 14, 2012 1:40am
Yes, most of the traders are well familiar with "the law of attraction". If a trader is continue loosing then when he should stop to that strategy and just go for opposite direction is also does matter.
  • #8
  • Feb 14, 2012 2:10am Feb 14, 2012 2:10am
Quoting Custos
If you reverse an unprofitable system, it will still stay an unprofitable system (most likely). Most systems create random to negative signals, even if you reverse them, you will still lose.


Good topic to have a discussion
finding A M S
  • #9
  • Feb 14, 2012 1:14pm Feb 14, 2012 1:14pm
By having the strength of acting instead of reacting and, once you have your clean statement, stick to it despite of price apparently challenging you, you are a strong personality, yes.

And what betting against a real loser is concerned - it works fabulously. I have been putting rows of losers from 10-30 trades with 1 to 2 winners in between them - within one single hour!

If I were able to put this into form, I would have a short timeframe contrarian system that has a successrate of 85-90 percent, and don't worry about the good old R:R question. I have counted my trades , so I know its true. I have produced 25 consecutive winners last Thursday. It really is psychology and has nothing to do with luck - but it is difficult to grasp.

One key element is the mindset of waiting for the market to give you the best it can give - and you to sit on a solid throne, not worrying about any setup that is below AAA.

Success and insight everyone
  • #10
  • Feb 14, 2012 1:50pm Feb 14, 2012 1:50pm
Quoting Brutalpip
One key element is the mindset of waiting for the market to give you the best it can give - and you to sit on a solid throne, not worrying about any setup that is below AAA.

Success and insight everyone
And what is your AAA setup, and why is it AAA?
  • #11
  • Feb 14, 2012 1:51pm Feb 14, 2012 1:51pm
Quoting constin
I think that the people that are winning in trading are powerful human beings and either they realize it or not is a fact. This doesn't excuse the fact that people that aren't powerful can't get to this stage but that means that they also have to work on themselves beside the trading.
I respectfully disagree. I think traders lose mostly because they don't have good old trading skills.

I have a strong personality, but when I trade I say to my strong personality: "Now you shut up and listen to what The Market says!"

What do you need a so called "strength" for? To fight The Market? Good traders never fight The Market (you'll never win), they follow The Market. In other words, you don't have to be strong, on the contrary: you have to be flexible. But the most important part of the success: THE SKILLS!

Of course, all this is just IMHO.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #12
  • Feb 14, 2012 1:52pm Feb 14, 2012 1:52pm
Quoting Favorite
I respectfully disagree. I think traders lose mostly because they don't have good old trading skills.

I have a strong personality, but when I trade I say to my strong personality: "Now you shut up and listen to what The Market says!"

What do you need a so called "strength" for? To fight The Market? Good traders never fight The Market (you'll never win), they follow The Market. In other words, you don't have to be strong, on the contrary: you have to be flexible. But the most important part of the success: THE SKILLS!

Of course, all this...
good post
  • #13
  • Feb 14, 2012 3:40pm Feb 14, 2012 3:40pm
Trading, buying and selling, is much more than just pressing a button and sitting in front of a screen. It's a lifestyle, a very particular one as such. A way of thinking, a way of doing, a way of behaving.

The market will sieve out those that are worthy enough to take from it. In my opinion having a bad karma, negative mindset, resentful character, getting in a temper quickly and being fearful about the future in general will one not allow to bring out the extra mile needed to reach the target. Law of attraction? Definitely so. Think good and it will be good. There where a mans heart is there he shall be.

You and I know, there is no 'system', we are not HFT'ers, we are not banks or huge institutions, we are little - yet so powerful. We make ourselves powerful. We take from the market.

People want certainty, - weak people want certainty, get a 9 - 5 job. Trading is not a 9 - 5 job, no news here. Powerful and strong people NEVER give up, never give up a fight, powerful people make mistakes, learn from them, forget about them, pick themselves up with whatever they will find on current resources and go back to business as usual.

We agree? We do.
  • #14
  • Feb 14, 2012 4:04pm Feb 14, 2012 4:04pm
I think trading is like any tough industry where intelligence, work ethic, and persistence is key. The thing I like about trading the most, however, is that there is no one standing in your way to success other than yourself. And yes, I do think anyone that can truly be successful at this is a "powerful" person, because trading is one of the hardest things to do in the world and there's not a lot of great teachers to hold your hand through the process.
  • #15
  • Feb 14, 2012 4:25pm Feb 14, 2012 4:25pm
Quoting Trader613
The market will sieve out those that are worthy enough to take from it. In my opinion having a bad karma, negative mindset, resentful character, getting in a temper quickly and being fearful about the future in general will one not allow to bring out the extra mile needed to reach the target. Law of attraction? Definitely so. Think good and it will be good. There where a mans heart is there he shall be.
You either have the trading skills or you don't. That's it. Would the surgeon rely on the Law of attraction? Hell no! He's been trained to perform surgeries and he is good at it because he has the skills. We as traders perform our "surgeries" several times per day, and if we have the skills - we get good results, otherwise we "kill" our "patients" and there is no Law that could change it.

Quoting Trader613
Law of attraction? Definitely so. Think good and it will be good.
As the old Central Asian proverb says, "Even if you say the word 'khalva' one hundred times, you will not feel sweetness in your mouth".
Gentlemen always play by the rules. If they can't, they change the rules.
  • #16
  • Feb 14, 2012 4:53pm Feb 14, 2012 4:53pm
Good thread. It takes a rare mind to be able to look at a chart and see what's happening. Most people just see peaks and troughs, spikes, shapes.

The skilled trader doesn't see these things, he sees events that happened recently: actions, consequences, a story. He sees it like music, or a soap opera. I've had brief moments where I got into the 'zone' and saw the chart in this 'higher' way, but these moments have been fleeting.

I think the elite traders don't predict what's going to happen; Rather they can see what situations can't happen, and bet against these scenarios.

Or maybe I'm completely wrong
  • #17
  • Feb 14, 2012 5:07pm Feb 14, 2012 5:07pm
Quoting FrinkFX
Good thread.
Yes, it is a good thread. Our views and opinions are different, and it is good too - we all can learn something good from each other.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #18
  • Feb 14, 2012 6:03pm Feb 14, 2012 6:03pm
I am sorry but is't "Law of attraction" and "trading a loosing system in inverse" are two entirely different subjects that they should't be mentioned in the same thread let alone a post????
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  • #19
  • Feb 14, 2012 6:22pm Feb 14, 2012 6:22pm
Quoting nasir.khan
I am sorry but is't "Law of attraction" and "trading a loosing system in inverse" are two entirely different subjects that they should't be mentioned in the same thread let alone a post????
.
Why not? The topic-starter just illustrated the main subject, it was just an example, but if discussing both topics is OK with the topic-starter, then it is OK - he is the boss, he makes the rules here.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #20
  • Feb 14, 2012 7:26pm Feb 14, 2012 7:26pm
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
works between people-
I have read many books on-
must reach the minds of other traders (mostly larges)
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