How do you get rid of the "ego"

Discussion in 'Psychology' started by bat1, Jun 8, 2012.

  1. jitao

    jitao

    It's not your ego killing you.
    You are misled.
    If you get rid of your ego, you are just a big lump of useless protein.
     
    #71     Aug 10, 2012
  2. EvanC

    EvanC Advanced Market Systems

    Hello Bat1,

    "Realistic" made some very good points.

    "Money Management," the predetermination of acceptable Trade Risk and setting your trailing stop loss exits as you enter any trade can help.

    I personally advocate a Money Management approach where I can't risk losing more than 0.5% of my trading capital in any given trade. My setup allows automatic calculation of the share size based on entry price, and my liquid account balance. This way I can never put too much into one trade, I can have multiple trades going, my profit taking and stop losses are set and I'm so busy looking for new opportunities, that I don't generally have to think about exits - they are automatic...unless I recognize a market wide swing that leads to a faster bailout.

    We all want to be successful, to make a profit, to feel smart. And we will all make plenty of mistakes.

    If we look at each day as simply another lesson in a long term journey, we can redefine the success our Egos crave from the momentary score, into the longer term aiming for the farther shores...this can allow us to become more objective in the moment, and stick to the rules of our predetermined strategy.

    Anyway, that's my food for thought.

    One other thing about Ego... Check out a book called "The Power of Now," by Eckhart Tolle. His writing helped my father, and then me, to "step outside of ourselves" and simply watch the Ego as it operates. It's a powerful tool for transcending such attachments, at least when we remember to use it.

    Good luck! :)
     
    #72     Aug 10, 2012
  3. You don't have enough losses yet. Market will teach you over time.
     
    #73     Aug 10, 2012
  4. ======
    Bat trend;
    well i may have already answered this. But some patterns are worh repeating.

    Look/study enough charts, 6 days a week, 12 hours a day;
    72 hours a week. Do that for enough years.

    Not a prediction, but by then you should be profitable;
    or have blown up your account/accounts so much the problem got solved anyway.LOL:D

    Hope this helps, it helped me ;wisdom is profitable to direct:cool:
     
    #74     Aug 16, 2012