I'd like to become a better trader

Discussion in 'Journals' started by PO, Feb 2, 2011.

  1. KDASFTG

    KDASFTG

    Greetings BL,

    Wrbtrader was gracious enough to take the time to provide an excellent solution to your current dilemma. But instead of realizing how fortunate you were to have your request properly and correctly addressed, like most newbies, you have chosen to fight for your continued ignorance as if it were a virtue.

    BL, I feel for you and your problem, having been there myself many moons ago. You are in a dark place right now, ....and unfortunately you're unwittingly moving still deeper into the darkness. Ok, that being said, I will throw my hat in the ring to make another attempt to help.

    Below is a reprint I sent to another newbie a few weeks ago. Let's see how you "chose" respond to it. In any case, best of luck on your journey.

    Greetings, XXXXXXXX

    I can give you all the trading advice I have to give, but I can never give you my trading experience. You will have to gain yours on your own. I can lead you to what I believe to be the proper path toward success, but I cannot make you step in that direction. If I tell you to avoid this or that dark place, and if you chose to venture there, I will remain at peace with your decision, and the likely circumstance which may follow.

    So when you say that there is; “So much difference between your Live Trading and your Sim Trading”, I say to you, why do you think that is the case? Is it possibly because you “act” differently when you live trade, versus when you sim-trade? And if so, is that “acting out” likely to be a problem that more or better technical analysis, or trade probabilities, can possibly solve? No,....it is more likely that you have some unwitting and inappropriate beliefs about the nature of the market which are at play. They are the root cause to the “acting out” effect, not some more or better technical analysis.

    XXXXX, the fact of the matter is; if a person can’t make consistent money on a Sim-Trading Account, he can’t make money in the Live-Market either. To believe otherwise is sheer folly. Don’t you think it wise to be able to thoroughly test out something that you claim is really important to you, before subjecting yourself to the very real possibility of catastrophic consequences, due to “thinking errors”, mistakes, and inexperience?

    Can you imagine what the results would be if a rookie Astronaut made the statement: “Oh I’ll just wait until I get into space to test out my spacesuit oxygen system, because all this simulation isn’t the real thing anyway, and I get bored with it”. Or how about the Fighter Pilot who decides to pass up on all Combat Simulation Training because; “It just isn’t the real thing, so how can I possibly take it seriously”.

    "The market is a merciless mirror, and each moment is a perfect reflection of your current level of development, and what you need to do to get better and improve". I therefore submit to you, that if you are experiencing major deltas in the market in your emotional control, perceptual distortions, and judgmental instability; and that these things are due to the manner in which you are acting, conducting, or controlling yourself, then you have some internal thinking problems that must be properly addressed and resolved before you could possibly succeed in trading.

    I’m not talking about the Dr. Phil type of internal thinking problems, through they may be present as well. Again, it is more likely that you have some unwitting and inappropriate beliefs about the nature of the market which are at play.

    The professional trader doesn’t have to deal with these types of emotional issues, to the same degree as you while trading. While they may have “holes and gaps” from time to time, the pro has long since learned how to control and compensate for these momentary lapses before they result in unwanted consequences.

    YOU DO NOT! He/she has had to work them out during their own very personal and private “Pass of Pain”. They survived this "Pass of Pain" because they learned how to find and resolve these issues without suffering through catastrophic game ending consequences. Or else they wouldn't be where they are.

    XXXXX, learning something new and dynamic is always exciting and fun, but for your own sake, just make damn sure that what you are learning and studying, will be on the real live final exam.

    Class dismissed.
     
    #271     Feb 18, 2011
  2. Redneck

    Redneck

    Not by a damn sight



    Hey OP

    We havin fun yet… I am – not too sure about you….

    So now what – more of the same – believe that is the definition of insanity

    =============================================================================================

    If you think I’m trying to goad you – don’t think it…

    ============================================================================================

    Time to pull your head out of your ass…, get on a sim… and work through the stuff in your head – you reckon….

    Either that or stay insane…..




    Btw – a set up does not get you in a trade – it gets you out…, either for a loss or a profit

    Context gets you into a trade


    Unfortunately your issues are bigger than setups and context

    =============================================================================================

    Step 1 – Pop ya head out cha ass…, then replace it with your ego and opinion

    Step 2 – Apologize to every one of these traders who’ve tried to help, but you’ve basically told to piss off – find some damn humility – it’ll do ya good

    Step 3 – Get on a sim…, and…, work though the crap in your head



    And in case you’re wondering;

    You won’t be bowing down to any of us – we’re nameless/ faceless fucks on the internet…. You will be bowing down to yourself - a necessity if you want to be a trader…


    Again – Your choice…


    Ahh Good times
    RN
     
    #272     Feb 18, 2011
  3. PO

    PO

    Ok, just for the record I didn\'t tell all the people who are trying to help to piss off. quite the opposite I am trying to incorporate the suggestions.
     
    #273     Feb 18, 2011
  4. PO

    PO

    what exactly do you mean by that?
     
    #274     Feb 18, 2011
  5. ammo

    ammo

    ya pretty often did,your defensive,you think what ya know is something, ya know nothing, remember that,be humble like the redneck said, the less ya think ya know, the more open you are to learning
     
    #275     Feb 18, 2011
  6. Redneck

    Redneck


    You want something from me

    You need to do something first – apologize to the others


    RN
     
    #276     Feb 18, 2011
  7. Dude I know the journey. It's a tough road and most people don't make it to the end of the rainbow. I'll tell you what --- I seriously doubt anything that you read in a book is going to change your actions. The impetus is still with you. You can't escape yourself.
     
    #277     Feb 18, 2011
  8. ammo

    ammo

    and make a vow to yourself,i am no longer full of knowledge and will make it my mission to choose wisdom over foolish pride from now on,anyone who insults me is dumber than i used to be,i will never be a proud dumbass again.......best, we are all strangers on here, most of us will never know one another any closer than a PM,so don't take this as an insult, just a good swift kick in the ...
     
    #278     Feb 18, 2011
  9. Sounds like you got the psyche figured out. Check out this blog. I've met this guy and he knows exactly what he's talking about.

    http://traderfeed.blogspot.com/
     
    #279     Feb 18, 2011
  10. This is my post near the start of this journal...

    Without looking through the whole journal since then and instead just flicking over the last few posts I can tell nothing has changed...

    YOUR EGO REMAINS YOUR PROBLEM.... Until you change inside I can confidently say you will NEVER be a good trader. Your holding yourself back and until you fully understand this your going to continue to have major problems
     
    #280     Feb 18, 2011