HOPE is the worst feeling

If you use Hope in trading then think about the Hope Diamond.

 

Yeah but bringing the Obama guy into it is a topic screwer.

Your grandma was a little rough.

On topic though, hope is quite a useful emotion because it lets you know what is happening - if you feel it then you should bail out of the position now. Its not the emotion thats the problem, its the action you take in response (Brandon might clean his other hand).

 

Think of the majority of situations where people truly turn towards hope.

The situation is usually hopeless.

I hope I don't die.

I hope this trade doesn't blow my account (The dumbest hope of all).

I hope I don't shit my pants.

A person hoping for anything is basically admitting they have zero control over the situation. It is the absolute worst ingredient for success.

To hope is to become hopeless.

Somebody needs to start a philosophy section on this website .

 

I think we're in the right forum for hope.I always thought psychology was the study of hope which I have come to my own defintion of hope: to prevent some kind of reality from having an existence .

But I agree with spindro about being depressed. Imo, Livermore and other traders who had various success in the market had a dark side some might call depression.

 

Hope We Can Believe In!

Hows that hope thing workin out for ya?

 

Agree. The feeling of hope is not the problem. My action is the problem.

 

Agree on both accounts, philosophy section and that hope is one of the worst four letter words. To me, using it as the theme of his campaign was one of the very first warning signs about President. Obama.

 

Greed, fear, impatience, and hope will all fight for mental dominance over the speculator. Then, after a few failures and catastrophes, the speculator may become demoralized, depressed, and desponded and abandon the market and the chance to make a fortune from what the market has to offer. Develop your own strategy, discipline, and approach to the market.
jesse livermore


Hope lives and in hand with greed when it comes to the stock market. Once a trade is made, hope springs alive. Hope, like its stock market cousins ignorance, greed and fear, distorts reason. Hope clouds facts, and the stock market only deals with facts. It is like the spinning of a roulette wheel- the little black ball tells the outcome, not greed, fear or hope. The result is objective and final, with no appeal.
jesse livermore