My opinion is that every good trader is a psychologist. The good traders know themselves, their own psychology, and they know the psychology of their opponents in the market place. They have seen the psychological problems in themselves, and in others that lead to failure. A proper understand of human nature, including one's own, is vital to success for a trader. In the words of Clint Eastwood in Magnum Force: "A man's got to know his limitations."
Hey, don't pick on my pal Aphie. I will put the whammy on you that I put on NoMoreOptions.:eek: now he goes around with a tin foil hat! Be careful dudes
I just spent almost two hours going through the latest round of GG threads. I then went and had a read of the previous posts he's made on ET. Verdict: he's an idiot. Sorry Gordo, you probably really are a great guy (as you claim), but it's as clear as the sun that you are a right fool. I'm surprised that others haven't pointed out the irony in your tag -- it's a classic. It's mind boggling that someone who is apparently struggling so mightily with his trading would have "why can't I trade..." lamentations as the topic of the majority of his posts, rather than actually discussing specifics of what ails his trading. (Even more amazing given the offers of help and advice you've been made.) Generally, I'm of the view that a man with his heart set on a certain something shouldn't give up attempting to achieve it. But, then again, depending on the nature of the task, the behavior modification required just may be beyond bounds of some kinds of people. Trading is that kind of a task and, from everything I've read of him, GG seems, for the moment, that kind of a person. Obviously the question isn't whether GG should stop trading and get a job (or another source of income); as he only as $2000, it is a given that he will have to. Without a source of income to form a nest egg, the question of whether he should or shouldn't one day come back to trading can surely wait to be answered at a later date. However long it takes, if true passion is there, he'll find his way back. GG, I'm sure you think quite highly of yourself, and maybe rightly so, but others can only judge you on the basis of your actions, not your thoughts. Given that, I have little doubt that you have no long term plan for the rest of your life whatsoever; that even in the unlikely event you were to make a success of trading, any fulfillment it gave you would be ephemeral at best. Making an attempt at trading for a living the sole focus of one's life without having a sound fallback plan -- something you clearly did not have -- in crucial skill-acquistion years of the early 20s cannot be described as anything other than a fool's errand. Bite the bullet, admit you were chasing fool's gold and get to work get to work learning to make yourself of value to someone. Being a sociable, happy-go-lucky, party-dude has its place in life, but no one in their right will pay you for it. db's tag sums it up best: the only way home is through the forest. Time to swallow the bitter pill.
Quote from Scientist: GG: "If that trade had worked out I could have ..." I COULD HAVE. My god. HELLLOOOO??? This is not what trading is about. What you're saying is what gamblers say. "Yes, I know it was dumb to go to the roulette wheel and put all my money on "Rouge", but I COULD HAVE..." YOU LACK DISCIPLINE. Think about it. ________________________________________________ Great post, I too lack discipline as Gekko seems to. I am just a newbie however, and as yet have hardly really put on any actual trades. More like torturously long running speculations...hahaha Anyhow, I wanted to post and ask you about some of the gambling systems that you had mentioned in an earlier post. I have seen some BJ21 systems, but not a Baccarat one. Could you send me a link or some of the info regarding this. Thanks in advance. Also I find your posts quite interesting, I for one would like to see you start a thread on systems design. I do not have a very strong mathematical background and would really appreciate following a thread on that sort of stuff. Just an idea if you have the inclination and time. Cheers