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Motivation Zone - Share what/who motivates you

  • #161
  • Oct 14, 2014 7:38am Oct 14, 2014 7:38am
Quoting OzBattler
http://www.youtube.com/watch?v=NjjYVROiJIA
very nice video
got me all motivated hehe
X-man the legendary conqueror of markets
  • #162
  • Oct 15, 2014 4:14am Oct 15, 2014 4:14am
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We miss 100% of the shots we don't take
  • #163
  • Oct 16, 2014 4:21am Oct 16, 2014 4:21am
Quoting alifari
{image}

No wonder this statement is not signed - it is nonsensical

When you have no control over something threatening your well being it is time for fear - like a hungry Lion approaching you and you have nowhere to run - you will probably loose control over certain bodily functions because of the fear to boot.

The market on the other hand although you have no control over it you have control over your trade - close, move SL etc. - in other words you have somewhere to run. But I suspect no matter how seasoned a trader you are, in the depths of your mind you will fear the possible loss that the trade may bring - unless the exposure is so small that it may as well be a demo account.

A seasoned boxer may not be afraid of getting into the ring for a fight but it will still hurt, especially when he loses on top of it - and I feel trading is similar, you may not be afraid of entering the trade but will flinch when it goes against you and hurt badly when stopped out. Hence many traders won't put Stop Losses in place to avoid the pain of losing, but rather endure the discomfort while hoping for a turnaround.

I think fear is just part of being human imho
When all conditions are met - Enter trade - sit back and FRET !!!
  • #164
  • Oct 16, 2014 5:02am Oct 16, 2014 5:02am
Quoting jsf
{quote} No wonder this statement is not signed - it is nonsensical When you have no control over something threatening your well being it is time for fear - like a hungry Lion approaching you and you have nowhere to run - you will probably loose control over certain bodily functions because of the fear to boot. The market on the other hand although you have no control over it you have control over your trade - close, move SL etc. - in other words you have somewhere to run. But I suspect no matter how seasoned a trader you are, in the...
I respect your point of view. But here is how I think:

When you are fearful, no other possibilities exist. You can't perceive other possibilities or act on them properly, even if you did manage to perceive them, because fear is immobilizing. Physically, it causes us to freeze or run. Mentally, it cause us to narrow our focus of attention to the object of our fear. This means that thoughts about other possibilities, as well as other available information from the market, get blocked. You won't think about all the rational things you have learned about the market until you are no longer afraid and the event is over. Then you will think to yourself, "I knew that. Why didn't I think of it then?" or, "Why couldn't I act on it then?"
The purpose of knowledge is action, not knowledge
  • #165
  • Oct 16, 2014 5:07am Oct 16, 2014 5:07am
Quoting alifari
{quote} I respect your point of view. But here is how I think: When you are fearful, no other possibilities exist. You can't perceive other possibilities or act on them properly, even if you did manage to perceive them, because fear is immobilizing. Physically, it causes us to freeze or run. Mentally, it cause us to narrow our focus of attention to the object of our fear. This means that thoughts about other possibilities, as well as other available information from the market, get blocked. You won't think about all the rational things you have...
I agree.

Once you understand and accept you cannot control what comes next but you can control the amount of money you risk then that fear is no longer there.It takes while for you to truly accept it and then the fear is much less till it eventually goes away although I'm not quite there yet.

Thanks for sharing those great quotes,ideas and sayings.

Wishing you the very best

Rooi
We miss 100% of the shots we don't take
  • #166
  • Edited 10:01am Oct 16, 2014 5:41am | Edited 10:01am
Quoting alifari
{quote} I respect your point of view. But here is how I think: When you are fearful, no other possibilities exist. You can't perceive other possibilities or act on them properly, even if you did manage to perceive them, because fear is immobilizing. Physically, it causes us to freeze or run. Mentally, it cause us to narrow our focus of attention to the object of our fear. This means that thoughts about other possibilities, as well as other available information from the market, get blocked. You won't think about all the rational things you have...
I agree with your statement that "I think fear is just part of being human imho" but there are many different kind and levels of fear. A question trader has to ask himself:

1) Are u afraid of losing money
2) Are u afraid of losing because it will hurt your ego
3) Are u afraid because you are not confident about your strategy
4) Any other reasons beside above

The answer to 1 & 2 is, as a trader you have to accept that losses would occur and even the best of traders lose and it's a probabilities game and the outcome of a single trade doesn't matter in the long run. Once you understand this the next losing trade would be much easier to take.

For example if you are risking 1% of your capital and you are disciplined enough to not widen your stop loss once a trade is triggered just to avoid a loss, you know that maximum you can lose on a single trade is 1% of your capital and it will take 100 consecutive losing trade to wipe out your capital, which is a very unlikely scenario and unless you are a complete crap trader trading with no edge or tested strategy.

Here are my this month's statistics so far, not trying to show off but if you notice my win / loss ratio is about same but I managed to come ahead as I am not fearful of losing cause I know my edge and in the long run I would come ahead.

Average Risk Per Trade: 2%

October Net Accumulated R/R = +8.65R

October Average R/R Loss Per Trade= -0.73

October Average R/R Win Per Trade: +1.45

October Net Accumulated Equity Profit/Loss= +17.42%

Win Rate: 52%

On the other hand if your house is on fire or you are about to hit by a 60k pound truck at stop light that is the fear of the highest level, isn't it ?

That is just my point of view and the way I think.
The purpose of knowledge is action, not knowledge
  • #167
  • Oct 16, 2014 8:52am Oct 16, 2014 8:52am
Quoting alifari
{quote}Average Risk Per Trade: 2%
October Net Accumulated R/R = +8.65R
October Average R/R Loss Per Trade= -0.73
October Average R/R Win Per Trade: +1.45
October Net Accumulated Equity Profit/Loss= +17.42%
Win Rate: 52%
Thanks for the info


Would you mind sharing with us what the stats are and how they are calculated especially :

October Net Accumulated R/R = +8.65R
October Average R/R Loss Per Trade= -0.73
October Average R/R Win Per Trade: +1.45


Thank you for your time

Rooi
We miss 100% of the shots we don't take
  • #168
  • Oct 16, 2014 9:41am Oct 16, 2014 9:41am
Quoting Rooi
{quote} Thanks for the info Would you mind sharing with us what the stats are and how they are calculated especially : October Net Accumulated R/R = +8.65R October Average R/R Loss Per Trade= -0.73 October Average R/R Win Per Trade: +1.45 Thank you for your time Rooi
R/R means risk to reward ratio

For example if my risk per trade is 2% and if I the trade hit my stop loss I consider that as 1R Loss

See attached charts and below summary:

1) AUDJPY Long: Entry= 93.29 - Stop Loss= 93.18 (11 Pips = 2% of account = 1R) - Take Profit = 93.50 (21 Pips) - Trade Result +21 Pips
So 21 pips reward / 11 Pips risk = +1.91 reward achieve on this trade (+3.82% increase in equity)

2) AUDUSD Short: Entry= 0.8727 - Stop Loss= 0.8738 (11 Pips = 2% of account - 1R) - Take Profit = 0.8692 (35 Pips) - Trade Result -11 Pips
So -1.0R risk loss on this trade (-2.00% decrease in equity)

3) AUDUSD Long: Entry= 0.8693 - Stop Loss= 0.8673 (20 Pips = 2% of account = 1R) - Take Profit = 0.8719 (28 Pips) - Trade Result +28 Pips
So 28 pips reward / 20 Pips risk = +1.40 reward achieve on this trade (+2.80% increase in equity)

So net accumulated R/R = 3.71R (1.91 - 1.00 + 2.80)

Average R/R Loss Per Trade = -1.00 (Total three trades, one loss and two winners)

Average R/R Win Per Trade = +1.65 (+1.91 + 1.40 / 2) (Total three trades, one loss and two winners)

Net Accumulated Equity Profit/Loss = +4.62% (+3.82% - 2.00% + 2.80%)

Win Rate: 67%
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 27-AUDJPYM15.png Size: 26 KB
Click to Enlarge Name: AUDUSDM15.png Size: 28 KB
Click to Enlarge Name: AUDUSDM153.png Size: 37 KB
The purpose of knowledge is action, not knowledge
  • #169
  • Oct 16, 2014 10:12am Oct 16, 2014 10:12am
Quoting alifari
{quote} R/R means risk to reward ratio For example if my risk per trade is 2% and if I the trade hit my stop loss I consider that as 1R Loss See attached charts and below summary: 1) AUDJPY Long: Entry= 93.29 - Stop Loss= 93.18 (11 Pips = 2% of account = 1R) - Take Profit = 93.50 (21 Pips) - Trade Result +21 Pips So 21 pips reward / 11 Pips risk = +1.91 reward achieve on this trade (+3.82% increase in equity) 2) AUDUSD Short: Entry= 0.8727 - Stop Loss= 0.8738 (11 Pips = 2% of account - 1R) - Take Profit = 0.8692 (35 Pips) - Trade Result -11 Pips...
Thanks for the info.I understand better how you do it now thank you.

I have subscribed to your journal eventhough its not my trading style but you seem to be very deliberate in what you do with some nice thought through habits

All the best

Rooi
We miss 100% of the shots we don't take
  • #170
  • Oct 19, 2014 10:06am Oct 19, 2014 10:06am
This probably accounts for the high failure rate of forex traders
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When all conditions are met - Enter trade - sit back and FRET !!!
  • #171
  • Nov 3, 2014 5:05am Nov 3, 2014 5:05am
Quoting FerruFx
You will need great motivation if you have ambition! {image}
Thanks for this Ferru, I really like this message it speaks to my soul!
It's time we stop entertaining ourselves and start realizing ourselves!
  • #172
  • Nov 3, 2014 5:08am Nov 3, 2014 5:08am
Quoting Rooi
{image}{image}{image}
Powerful quotes indeed and my man Will dropped some real gems!
It's time we stop entertaining ourselves and start realizing ourselves!
  • #173
  • Nov 3, 2014 5:13am Nov 3, 2014 5:13am
Here's my daily mantra that everyone reading here can put somewhere where they can see it everyday. It speaks to us especially as traders because what do we try to do everyday?

We all want to win trades consistently and be surrounded by other good traders and mentors who win consistently right?

So with that being said take this quote of mine, hand write it on some real physical paper or on a sticky note and place it beside your computer monitor and look at it throughout the day while you are working or whatever. I've been posting this like everywhere!!!

My daily mantra:


"I am amongst winners, success is inevitable!"


or

{if I were to say it to you directly}


"You are amongst winners, Your success is inevitable!"

It's time we stop entertaining ourselves and start realizing ourselves!
  • #174
  • Nov 3, 2014 5:55am Nov 3, 2014 5:55am
Quoting Rag2RichesFX
{quote} Thanks for this audio. I've read it but audio books are easier for me to grasp the concepts. Great thread.
If I lived on that beautiful island that you live on I would be even more motivated because I just love being near clear ocean water and a cool, relaxing breeze and endless sunshine...LOL!

How's the weather out there today?

It's time we stop entertaining ourselves and start realizing ourselves!
  • #175
  • Nov 7, 2014 3:02pm Nov 7, 2014 3:02pm
I am in the process of writing a book incorporating many of these motivational ideas. One of the greatest sayings I ever read was from Andrew Carnegie when a reporter asked him what makes a person successful, and he replied:

"Son, the secret of success is really no secret. You must first determine what you want in life. Second, you must determine the price that you must pay to obtain what you want in life. Third, you must resolve to pay the price"

The last one is the most difficult and is what separates the men from the boys.
  • #176
  • Nov 7, 2014 9:19pm Nov 7, 2014 9:19pm
Quoting paradoxical
I am in the process of writing a book incorporating many of these motivational ideas. One of the greatest sayings I ever read was from Andrew Carnegie when a reporter asked him what makes a person successful, and he replied: "Son, the secret of success is really no secret. You must first determine what you want in life. Second, you must determine the price that you must pay to obtain what you want in life. Third, you must resolve to pay the price" The last one is the most difficult and is what separates the men from the boys.
I am also writing a book on Success. What you heard from Adrew Carnegie could be good but not great. That quote is no way motivational, only based on pure logic. Motivation comes not from seeing people doing logical things, but unbelievable deeds.

I think creating one of your own will give you more success than incorporating many motivational ideas into your book.

Good Luck
The Thief of Wall Street
  • #177
  • Nov 8, 2014 12:50am Nov 8, 2014 12:50am
Quoting Shabs19
{image}
... ....
Ghost Rider - WWTBMD?
  • #178
  • Nov 8, 2014 1:00am Nov 8, 2014 1:00am
Quoting bassramy
Inspiration And Motivation THINK IT
Truth!
Ghost Rider - WWTBMD?
  • #179
  • Nov 8, 2014 1:20am Nov 8, 2014 1:20am
Quoting alifari
Here are quotes from successful traders, whom I admire and follow closely. I get lot of inspiration from reading these. Thought I would share these in this blog. Most people like to be smart and show how good they are at catching the top or bottom. I LIKE MAKING MONEY. We all have the same tools, the only difference is I keep my emotions under control, NO MATTER WHAT, if I get excited or feel anything about what is on my screen then, I am not IN CONTROL. At this level, trading is just a thing and I know that I am going to have wins and losses and...
All great quotes. Of all of them I identify most with this ....

"Got 3 messages so far today about "I can't make money with your system" hell I did not even know I had a system, it's just the way I trade."
Ghost Rider - WWTBMD?
  • #180
  • Nov 8, 2014 1:37am Nov 8, 2014 1:37am
What a great thread! Having been through it I honestly don't think I could add any thought, idea, concept or truth that hasn't already been posted. So I'd just like to share a personal inspirational favorite of mine and perhaps, it does cover ONE new thought? ....

It makes no difference what you start out with. If played correctly, any hand dealt "can" be a winning one.

Inserted Video


"You can have what you want, if you want it like you need to breathe" - A line I heard in a song by Poets Of The Fall - Can You Hear Me
Ghost Rider - WWTBMD?
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