It's not true a specialist also takes a risk: the risk to be unable to unload his inventory on the public . If it is a recurrent problem for you, you should prepare to change your style, scale of trading or switch to another market, even if not for right now at least for future. Preparation is a key to success.
Specialist barely takes a risk when he manipulates price. He is aware and controls most of the big money order flow. If he goes against that, well thats not a risk, it's an idiotic move. Plus there is his humongous capitalization. Prop and retail traders have no chance against him, hence he does not take a risk in his abuses against small fish like us. Yes, I have to change my style back to the monkey 5-10 cent scalping, the same style I had to swear off in order become profitable. In the long run, it is very obvious to me that NYSE and probably Naz are not the markets to trade for real success. In the short-term, it is a psychological problem because the biggest factor affecting my failures is the one I have the least control over.
You need to express things in the 'positive' context. Eventually this will lead to a positive outlook. It wont happen overnight. e.g. Instead of those darn specialists on NYSE floor, screwing me all day. Jeez Im pissed. Think.... Well, I've paid a cheap price here for what could have been an expensive lesson if I had bigger size on. I can accept this as the way this market works and should think about trading another market like forex where these pigs dont opperate. What a great day Ive learned something that will save me money and help me search for better profit elsewhere! Isn't it a lovely day. I can hear the birds singing, the sun is shinning, and the flowers are starting to come out. I can hear children laughing. Look at all the wonderful colors. Isnt live just groovy. I love that music thats playing, wow I feel all tingly... Wow - this is some neat acid I scored.
Jai- Great post. I will add a bit to it. Failures come from self-depricating statements, and they also come out of projection. Where an individual will project their own negative way of thinking and their own failures onto another individual. Those of you who work in an office may come in contact with these "office saboteurs''. And you may recognize these people on the ET and other message boards. They are constantly mocking other members. consistently using negative language. You must avoid these people at all costs, and you are a winner you probably already do. Surround yourself with positive thinking people. Producers. "Coffee is for closers only." Visualize. Trade Well. Uptik2000
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% Mr. Marketsurfer; I am thinking about your quote. See your point now. Can you see my point now about correct attitudes & correct words are not necessarily the correct deed in trading . And since its my reply; will clarify ''the correct trading deed'' as beating the SPY or DIA by 1% plus. In other words it takes more than correct attitude & words to beat the SPY by 1% plus . Surfer , I just shared Hunter's qoute about tek analysis; ''sqiggly lines & numbers'' with an elitetrader - hoodoman this mourning.
Transformational vocabulary is a significant component of NLP. And that's due in no small part because one of the founders is an expert lingquist. There is a bio/phyisiological reason behind the effects of shifting your vocabulary. Specific words have corresponding neural pathways in your brain (this has been more or less proven, it's not merely wishful thinking). These pathways are closely related to the neuro-transmitters which manage the connections between the pathways, which also have an effect on other parts of your body. Simply by changing the words you use can literally change your body's biochemistry. Samson, I am aware of your take on NLP. Some of your exeriences you related to me are unfortunate. But your experience is not the same as everyone elses. Best, Bundle