Hooti's Journey

Hooti,
Either trade, or listen to Brooks, but I don't think it to be a good idea to attempt to do both at the same time. Proper Setup and Execution of your trades is a skill that you have not mastered as yet. The best traders don't try to dilute their focus while trading, and that is why they are the best. Why should you attempt this at your current level of development.

One has to question:
1. Are you just playing at this trading experiment as a part of your therapy and recovery?

2. Are you really serious about developing the skills and mindset necessary to becoming a profitable trading professional?

Chose one or the other. But I don't believe you can or will accomplish #2 with your current approach. This is because, by your actions, you are exercising and developing habits and ways of thinking which are incongruent with that objective.

This obviously is just my personal opinion. But if you would rather that I keep my opinions to myself, just PM and let me know.

I won't take it personal.

 

long 9:55 1299.75

10:07 opps, I have to leave. Set tight stop at 1299.25

 

That's true, I have not mastered... well, anything about this yet. I'm not signing up with brooks this month. I may sign up again later.

Even if I'm only doing this as part of therapy, this is NOT play. People around me are saying they've never seen anyone work so hard. I don't know about that, but I know I am doing all I can to get back what I lost.
Still, I did catch that flu the last week of Dec... knocked me sideways and silly. This is week 6 and the Dr said it likely would last 3 - 6 weeks. So maybe some of what you are seeing is that... I hope.

Brooks said one thing that has echoed in my thinking, which may apply to what you are talking about? He said that he was not here to trade, he was here to make money. A very different thing.

I was thinking this morning that if I just wanted to trade to practice mental dilligence, my goal would be to not lose money. I'd be trading to trade.
The measure I want though, that I'm doing this right, is money. I'm here to make money, not to trade. If I'm being profitable, the rest will take care of it's self.

So , no, I don't take that personally either! Please keep pointing out where my habits are not in line with being professional! Keep it coming, and thank you.

 

11:58 we are in chop, so closed out

up 4 pts for the day.

 

Hooti Statement #1.
“Even if I'm only doing this as part of therapy, this is NOT play. People around me are saying they've never seen anyone work so hard. I don't know about that, but I know I am doing all I can to get back what I lost.”

Ok Hooti,
1. Lets start with your above Statement #1, and let me begin by asking you a question; While you were in school, did you ever work extremely hard in a subject area, busting your natural butt, burning the midnight oil for days on end, only to find at test time that you studied the wrong material?

The analogy in this profession is much the same. If you survive long enough in this business, over time, you will come to learn that there is a world of difference between working hard, and working "smart". One path leads to months and possibly many years of confusion, exhaustion, frustration, and then ultimately capitulation. While the other path likely leads to the attaining of successive levels of knowledge and achievement.

Hooti, it is simply not enough to just work hard! It is imperative that you must combine your working hard, with also working smart! You must also know and understand what the “smart material” really is! Only then will your hard work and study begin to reflect itself in achieving the results you desire. Working hard, in and of itself is not enough.

2. Again, with your above Statement #1 in mind, and lets be very clear with this next question; Please explain for me; What has getting back what you lost, got to do with successful profitable trading? In my opinion, the two are separate and distinct activities and objectives unto themselves. This is the reason why I asked you to “chose” in my last email. In my opinion, your operational strategy needs to be reexamined, due to some fundamental errors in thinking.

Hooti Statement #2.
“The measure I want though, that I'm doing this right, is money. I'm here to make money, not to trade. If I'm being profitable, the rest will take care of it's self.”

3. In my opinion, Statement #2 is not correct or true. I believe it reflects a constellation of beliefs and a mindset that can lead to very serious problems for anyone aspiring to be a professional. This is because the true professional knows and understands that it is the “process” of trading that creates the success, and not the accumulation of the money alone.

This is because the money itself is a by-product of the process! The money in and of itself does not create the success. Anyone who assumes that because he/she has made some money, and is now a profitable and successful trader because of this fact alone, is operating under a mistaken belief. Profits don’t make the professional, they merely reflect the “process” of the professional. Flawless and consistent execution is the objective the pro seeks. A proven viable profitable strategy and edge will take care of the rest.

As a neophyte, its extremely hard for you to discern and really know what the “smart" material is from the multitudes of options with which one is presented in this endeavor.

Please be very careful what you cast in concrete as your foundational keel,……..for it may not be able to float your boat.

Just my opinions....again

 

Hooti:

I think KDASFTG makes priceless advice. You should read and re-read and listen it carefully. That's what I am doing now. I also learn and remind myself all of the statement he made in your thread.

As far as work smart and work hard, no doubt that you are working very hard. I can tell from your posts. It's Ok for you now to listen to Al, trying to understand the material better. Inputting screen time is a must. But after a while, you got to know who you are. Your strength and weakness. How you are going to interpret his method... then you get to the "work smart point"-build up a trading system that fits your personality . I am not sure if you are live trading, if so, you should go back to sim.

Sorry if I sound too harsh...

 

It has everything to do with that. Said another way, without it successful profitabe trading is impossible.

I was thinking about the different fuctions of the brain, some go to the first (the trading to trade, or being able to mechanically trade), some the latter (being professional). I was assuming that the professional parts deal more with the executive functions... in frontal part of the brain... but one has to have it all working together.

No disagreement there.

 

your brain is learning a new game,teach it/learn to play the game,the rest falls into place

 

Ah dear Matcha,
I'm not going there. The pattern is KD makes an interesting first statement, but then he supports it by putting words in my mouth I never said, nor remotely implied.

So there is no real conversation possible here.
And arguing from such a framework is futile, even to correct it! The distortion is to great.
Yet he has his opinion, and if it works for you, take it!

As to smart/hard... To paraphrase Forrest Gump... 'Smart is as smart does...' perhaps it is not either/or. We can do them both together, smart and dilligent? To do otherwise... would not be smart!

I trust the people I am working with one on one, and we see very different issues than those KD brings up. You can't always see those things from a distance.

But thanks for caring, both you and KD
and may your day go well.