I came accross a book that you guys might have heard or read in the past. I found it really helpfully in controlling my emotions and be objective while trading. In my experience I got to the point of frustration that I KNOW WHAT I NEED TO DO, But WHY Can't I DO IT!! The thought process of separating YOURSELF from your MIND (the monkey) helped me alot. I felt like I could concentrate better on the execution (My lacking point). Also, I was able to stop constantly fluctuate between FEAR and GREED. I was little effected by my PnL. On top of all the benefits I was able to enjoy trading a whole lot more. (and less keyboards to stock up on !!) http://en.wikipedia.org/wiki/The_Power_of_Now POWER of NOW !! Hope this helps.
as always, that which matters most is ignored by those who are unaware of what is required! Life in the Now The basic message of Tolle's book is that our mode of consciousness can be transformed. The key to becoming free of the egoic mind, with all its consequences, is to become deeply conscious of this present moment, or, as Tolle often calls it, "the Now."[30] The consequences of being in the Now may also be traced out from his book. i congratulate you on your awareness and am very pleased to inform you that you are indeed on the correct path. most will see the word "spiritual" and immediately dismiss the whole text without even bothering to read and contemplate on the words. anything worthwhile reading requires some thinking and contemplation, for those who have written it in that way done it for a particular purpose. as a side note, i would be considered a "nonspiritual" person, but I have learned to read and decipher words in relation to understanding certain truths that can assist me in progressing towards my goals and objectives. the same words are available to all, but it is how you read and understand them that will determine if they will be of any benefit to you in your personal life, or not! sounds familiar, does it not?
Yes, my dear... most will hear "meditation" or Yoga or spiritual path ...and say "VoooDooo...: There is something in it for everyone and they will find what they are looking for, if they just dig in without thinking of a reason to do it. I remember this famous Zen jokes.... Student: I can't pacify my mind... The Guru (or the MAN): Show me this mind of yours and I will pacify it.. Student: But I cant find it !! The Guru: There I have pacified IT.
one of the "key" traits of successful people is the ability to pick out and focus on only what matters most! buffet, who is by no means an ordinary person, coined a phrase that is so simple and logical that it but can not work if one cares to read and understand it's application, for all walk's of life! on a different note, from all of the famous quotes by one so wise, there is but one that matters most to the successful trader. Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.
HFT's are like Leeches on Buffalo (bull and bear would be more appropriate)....It does not matter. The Buffalo will do what he seeks.
One that hit me like the Zen jokes was from the book "reminiscence of a stock operator" ...................Its a Bull Market You Know !!..... .....
one of the worst things a trader can do is try and copy "successful" traders. the reason for this is so simple, but only when you know why! a trader will gain more by reading "the wizard of oz" than by reading "market wizards". FTYBR
Back in '82, a friend lent me the book "Illusions", by Richard Bach, who also wrote "Jonathan Livningston Seagull". The book slowly changed my life for the better. More books: "Beyond the Winning Streak", Lynda Madden Dahl "The Nature of Personal Reality", by Seth, as written down by Jane Roberts. Lots of good stuff on YouTube. Search; Jon Mercer Esther Hicks Abraham
About 2 years ago a friend of mine (not a trader) said Power of Now was fantastic. Said it totally changed him. I picked up a copy and only made it about third of the way through. I just didn't get it and stopped reading. Guess i'll put it back on the reading list. In the meantime i've started meditating 3 days a week to help with focus and general well-being. Too early now to say if it helps.