Discussion in 'Psychology' started by tireg, Jul 14, 2006.
I don't know Steve, how do you personally measure success?
got similar problems, not addin' pile after pile on a winnin' pos that i know is gonna yield good profits but am not zure about u arguments...maybe it is all about fear of the untested and that what's stoppin' us: me thinks we prefer to stay in our comfy way of doin' things...one thing is zertain tho, am workin' hard on it and should be able to get over it [sooner or later].
Fear: Being in a situation, you have no control over.
Fear: Your wife needs your 10K.
Fear: You only have 2k.
What's the fourth?
Not having a good fucking excuse!
My point is that its very easy for someone not in a situation like this to say that its ridiculous to feel "guilt" about making $$$ too fast as compared to others around you. I use to feel this way too, but thats before I saw my trading profits multiply at a pace much faster than I thought they could. For instance, I went from making $4000 for all of 2004, to 120K for 2005 to an estimated (based on current pace) 300K for 2006. Think about your avg job and there is no way to accelerate at this pace. I'm not necessaily saying I'm struggling w/ this problem but I can see how this can affect ones trading. I'm very sure I do limit myself currently but not to the point where I cant live comfortably. But, to get even better and better, one has to move past this and not concern themselves w/ how fast they are able to accumulate profits. Thats all I'm saying.
Steve, what do you want me to say? Good for you. As for the guilty bit,...i personally think that you are a wanker. Never the less, good trading, and i wish you all the best.
Hey, if you havent been there, then you wouldnt know.
I really wish people wouldnt comment on things they have not themselves experienced.
Steve, you give your money to who you want to. Paul.
Back to the original topic.
Very good post and I would like to add my observation on FEAR. The fear of giving back profits or adding to a loss on a paticular stock. Once a position has been closed that's it for that stock, any new positions will be with another stock.
Not necessarily dumb. Maybe you acknowledge that you don't have a well-thought-out strategy in place for scaling in and recognize that making one up when the situation arises is not the smartest thing to do. This isn't fear. This is being a grown-up.
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