Those type of mistakes could suggest that you’re focusing on outcome over process. It’s interesting that you brought up your high level of intelligence up front, without any kind of prompting. When traders experience the issues you describe, I don’t ever recall seeing anyone suggest that they could be attributed to a lack of intelligence. As a "registered armchair psychologist," that makes me wonder if a lot of your sense of self is tied to your high intelligence — and therefore, “being right”… which is “confirmed" by winning, i.e., “outcome.” You also may be trying to pre-empt that possibility by noting your willingness to admit being wrong — but don’t those admissions generally come after-the-fact, and not in the heat of the moment, in-trade? In fact, stating that you “know all the psychology about humility and admitting when you’re wrong” seems to be additional validation of your high intelligence — because no truly intelligent, rational person would be unaware of the pitfalls of ego, or claim to be right 100% of the time. Once again, it's a "win-win" that validates your high intelligence. If you agree with some of the above, perhaps you could consider focusing on *process over outcome*. Consider that it may be "more intelligent" to view trading from the standpoint of mathematical probability… and therefore, given that you already have a proven system, the truly intelligent approach would be to focus on process over outcome. Strive to “be right” 100% of the time by relentlessly following your rules on every trade, irrespective of individual outcomes, and score yourself accordingly.
Thanks for your response but your statement is idiotic. Even the smartest of people-no scratch that-especially the smartest people know that if they have a problem that they aren't finding an answer to, they have the humility to seek outside opinions. The willingness to explore outside opinions is 1) a trait required to increase knowledge and 2) a sign of humility. Based on your response, you possess neither. And BTW, there is no correlation between high IQ and increasing knowledge. There are plenty of people who are not too smart who know a lot, and the opposite. Because I am a genius I was able to teach myself trading and develop the system. That doesn't mean I can't increase my understanding by seeking outside opinions. Your comments wreak of the sour grapes of a frustrated trader.
Without delving into the psychological analysis, I think the advice is very sound, and yes, I have caught myself on more than one occasion focusing on outcome instead of process.
Seriously, that's a very good idea, which I actually tried. But as you correctly pointed out, not only am I overseas, but I also live in a small and isolated community where I wasn't able to find someone who can fill the role. But thank you.
Great motivation, but I'm married and my wife won't allow me to indulge such fantasies The simplest answer is probably back to what is generally the root according to the experts. Fear and/or greed.
Hello sir, What is causing you fear? Is it the fear of having a drawdown or no money to pay bill? Did you promise family you will have trading income to pay for something? What is causing the fear?. You going to have to go in the park and woods and really find out what is causing your fear. I will go first. I controlled my fear, by relaxing and thinking of trading on a day to day basis and not a "I loss today, so I am loser trader, or something is wrong me or my trading method." I had to realize that I trust myself and as long as I understand my trades and reason for trades, then I fine and I will be fine going forward. Also, trading is not my primary income, it is my work in progress secondary income. To control my fear of losing, I do not tell family and friends trade. I no longer tell friends I trade, and if they ask me, I say I no longer trade. So what is your fear?
Hilarious! Do you not realise how ridiculous you sound. And this dellusional statement: "Because I am a genius I was able to teach myself trading and develop the system." A child can learn to trade and setup a system, in fact brokers rely on simpletons like yourself to do just that, its how the brokers make their money. Yet, by your own addmission your system fails to make money because of your own deficiencies, and you come on here asking for advice and then disrespect some who offer it.
First, if you are too stupid and/or lazy to use spellcheck, you shouldn't really be posting, let alone attempting to give advice. Second there is absolutely no contradiction in what I wrote. If you are too simpleminded to understand the complexities, I can only feel sorry for you. Third, you warped my comment in order to justify your personal attacks and idiotic statements. I wrote that in spite of the fact that I was able to teach myself trading and develop a system because of my intellect, that does not mean i consider myself above taking advice. Especially if i am humble enough to realize i need it. Obviously a childish troll living in his mother's basement, watching porn all day and trying to impress the adults. Run along now play time is over. BLOCKED.
It's not fear but definitely there is an element of pressure to succeed. It's not my primary income (because as I said I still can't stay net positive) and no one knows. I'm not sure it's fear. I wrote it might be, but again the primary element seems to be lack of discipline.