Trading and Ego

thanks Pips Cruiser

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this is also a good book about the ego

http://www.amazon.com/Ego-Tunnel-Sci.../dp/0465045677

In The News

http://www.thechicagodope.com/2011/0...nd-victimitis/

That does look interesting. Kind of like a cultural madness. Here’s another link, this one to chapter 1.

http://www.zerohedge.com/article/wel...is-chapter-one

Thanks silverheat. This looks like heavy duty reading. There was a movie called Revolver that dealt with overcoming the ego. I found a few excerpts on YouTube:

Releasing The Ego – Part 1

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Releasing The Ego – Part 2

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Releasing The Ego – Part 3

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Alan Watts – The Earth Is People-ing

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Alan Watts - Who Am I?

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Alan Watts – The Illusion Of The Ego

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Alan Watts – The Way Of Waking Up

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now i remember i actually wanted to post another article from cognitive dissonance, but it's an interesting read nonetheless
here is the one more ego related (and shorter)

http://www.zerohedge.com/article/end...and-egoic-mind

yeah, i liked revolver, i was surprised when i saw it, i thought it was more like snatch, not with such a serious message, a great movie

I didn’t like the title of that article, but it did turn out to be a good read. Here are a few paragraphs from it that seem pertinent to this thread:

In my opinion, the ego is a narrow slice of and a distinct part of your total consciousness (but a part of it none-the-less) something I call my basic self, where my mental reflexes lay, the emotional me, the crisis manager, my reptilian brain for lack of a better term. You can actually train yourself to step back and watch your ego at will, though it can be more difficult during times of stress, when the dominant ego asserts it’s primacy over your consciousness. Interestingly, during deep concentration or during meditation, when I’ve moved the ego into the background and my consciousness forward, I sense there are additional levels of awareness.

Once you begin to practice this, you find it’s much easier to subvert your ego because you no longer identify yourself with the ego. “You” are not your ego and your ego is not “you”. “You” are the master, the overseer, the conscious being and your ego is your servant, in the same manner your arm is a part of you but not “you”.

The next step in understanding your consciousness (once you understand the separation of “you” and your ego) is to understand that, contrary to conventional wisdom, there is no clear division of the conscious mind separated from the unconscious mind, with the ego mixed into the mess. Instead, understand that there is only a totality called consciousness (including the collective consciousness, which will be discussed in the next article) and the ego is constraining your view of your own total consciousness in the same way a massively large but completely dark warehouse might appear to you if all you have is a small flashlight which only illuminates a very small area.

I've been reading a lot about the ego and the Self mostly stuff from Eckhard Tolle (The Power of Now) and some Hindu and Buddhist literature.

The ego is a huge source of destruction and suffering due to it's thirst for wealth, power, recognition and gratification. Learning to separate your true self from the ego, see it for what it is and not let it rule your life is a major step toward unconditional happiness and spritual enlightenment.

The true self does not rely on the aquisition of material wealth to be happy and live in a constant state of dissapointment because nothing is never enough. When the ego is in the driving seat life is just a frantic journey on a hamster wheel trying to get somewhere that it will never reach. Same with power, fame, recognition and a need to be right - it's never enough and never will be.

When the Self is in the driving seat then everything just "is" and the present moment is all that counts, life can be savoured and enjoyed regardless of the current situation.

Understanding that your ego and thoughts are not who you actually are is the first step toward becoming truly happy and truly effective at anything. I'm working hard to achieve this in my life but my ego is putting up one hell of a fight..

I just remind my self that everything is an illusion

"Ego As a Good Thing

Treated properly, ego is inherently positive, providing a necessary level of confidence and ambition. If we know how to use it effectively and manage it well, it's a powerful asset. Ego drives away insecurity, fear and apathy. It fuels an optimistic attitude, known to be a powerful predictor of success.
Left unchecked, however, ego goes on a hunt. It seeks out reinforcement and more of whatever bolsters and strengthens it. But overconfidence and unbridled ambition can also attack our talents and abilities, with big ego leading to bad decisions.
When we fail to manage the intense power of ego, it actually damages our strengths and turns them into weaknesses. Through ego's overconfidence, over-ambition, insecurity and me-centered agenda, talents take on a different appearance, with a decidedly negative impact.
Clearly, ego doesn't turn all of our strengths into polar opposites, but they become close counterfeits — traits that appear to be positive, but ultimately sabotage us. Consider these organizational "strengths," which can backfire when left unchecked:"


For the rest of the article:


http://www.wolfmotivation.com/legal/...sts-of-ego.htm


Happy trading.

Hi traders

I read Maltz's Psycho Cybernetics and he raises alot of good points for traders

1. Techniques on how to stay in the moment
2. Self - Acceptance
3. Be thankful
4. Achieving goals


I think one thing which is helping me when I trade is that its ok to be wrong.

Now, I have an inner peace not just when I trade but how I see life in general. Yes, my ego still sticks its head in but at least I can identify it and fight it.

When I started Forex 2 years ago the Seniors said that Beginners should enjoy the journey and I think that reaching that spiritual happiness is a part of it. What starts as an MA crossover with bazzillions in the bank becomes a continuous mental self-examination.

Hope my two bob helps

Anthony

A man said to the Buddha, "I want Happiness."
Buddha said, first remove "I", that's ego,
then remove "want", that's desire.
See now, you are left with only Happiness.

The same can be said with "I want success in trading."

Success is something you attract, it is not something you pursue.

I must admit, at time I will inflate my ego among other trading friends, but I will always suppress my ego whenever I am trading. Whenever I trade, I put my ego aside.

When I trade, I have all my rules (entries, exits, MM, Trade Management, etc...) set in place. And then, I totally focus on 2 things alone; entry and exit... nothing else.

If you focus on how much money/pips you are going to make, it throws your focus and concentration out the door. Your ego is out loose. Then simple impulses to do the wrong things will take over.

Any thoughts outside your trading rules and boundaries are like a seed. And that seed will quickly grow to overrun your discipline and most important, your trading rules.

Here's a down to earth video about trading and the ego

Trading has been a therapy for me. Made me more humble, less impulsive and more analytical in a positive way.

Dr. Wayne Dyer - Humility vs. Ego

Norman Hallett - Trader Ego

A lot of useful information, thank you!
The more I trade, the more I realise, that trading is not only about money, math and analysis, it also about psychology. It`s very important.