I agree RN. I just had a similiar conversation with my daughter. Basically having confidence and trust in your own ability. I think people can go through their whole life second guessing themselves. --------------------- Now I suppose if I was worth a shit I could tell you how to get to this point â well I canât⦠But at least now you know what it looks like â so go find it for yourself â please -------------------- I said the same thing, doesn't sound liike much help but really, it's out there and I suppose you know it when you have it. I did suggest better study habits, how to recall what you've learned (asking yourself better questions or rephrasing) same way one might use a google search engine. Understanding principles and concepts OR identifying principles and concepts. Learning to cast off doubts when you know better.
I get so fucking tired of the shills trying to sell you their books/ courses etc. The fact is with trading that either you have the character to trade or you do not. The vast majority do not have the qualities and flaws that make a good trader. I've come across very few people who have succeeded after a protracted effort because they were extremely stubborn and wouldn't give up but for most I would say that if the income doesn't begin to flow within six months then move on. There seems to be a prevalent idea that if you throw enough money at the problem then you solve it. Not true. I have seen many intelligent and talented people fail at trading because they do not have the character. Please don't make some snake oil salesman like that Robbins cunt rich in the process of finding this out. If you want to learn some psychology then read psychology books not self help bullshit, NLP or some failed/wannabe/non trader who has managed to get his book to print.
Trading is superficially easy because most trades look incredibly easy to see after they have occurred. It's also easy after the fact to make it look easy because its an act you are playing, not a real-time forward moving action. Don't be fooled into thinking this isn't a lot of work, it is. Get comfortable with your ill feelings. There are some cheap options, like reading up on Eugene Gendlin's book focusing, or some Eckhart Tolle, etc... people who don't make a living off a persons insatiable need to trade. There are some decent books out there... Ruth Roosevelt has a couple that are relatively low in price and they help you deal with risk reward, motivation, stress, etc.. I also recommend Getting Things Do by David Allen, because its task oriented and helps you to reduce trading to a process. It sounds like you are getting emotional because there is no process for you to identify setups, place trades, and manage the outcomes as best as possible given your risk preference and ability to trade... once there is a process and you know it, your stress levels should come down. Alternatively, you might realize its simpler to find a good firm or fund to invest instead of trade your own capital, because it takes years to gain the required skills to function in this challenging environment.
NM, My admiration and respect to you â being a parent isâ¦. Never mind you already know⦠To me it is the toughest, most satisfying, scariest, most humbling, most wonderful experience I believe any human could have The down side â imho â we only come to fully know the impact weâve made several years down the road â which could possibly be too late to recover from... Then there are times I sit and ponder â if only they would learn from the mistakes Iâve madeâ¦. what an advantage for them... But then reality returns and I realize humans being what we are â we must each journey out and make our own mistakes for them to really hold any lasting meaning Such is the bane of our species existence I fear â for nowâ¦, for always⦠eta - and they grow up way too fast... well... on second thought ... in some situations not nearly fast enough... Take Care RN
Thanks for the kind words. Then there are times I sit and ponder â if only they would learn from the mistakes Iâve madeâ¦. what an advantage for them... Have you been to a bowling alley? They have these bumpers so your ball doesn't go in the gutter. I sit and ponder if I'm one of those bumpers, keeping the kids out of the gutter. I tell them "There's the arrow, there's the strike zone" and pfftt.... the ball rolls off the bumper.
we and another couple and their daughter and ours, went to a bowling alley when she was 5 or 6,in ten frames she hit one pin,we told her she had probably set a record,she was proud......,to the OP,you have a year, some or a lot of your fear are probably based on your confidence in your setups,layups,if you have 1 or 2 strong ones trade them and skip the rest, your confidence will rise as your knowledge of the daily moves becomes more concise,compacted, when you can see only 4 or 5 types of days and trade them ....,this sounds like a broken record but pick one instrument, hand chart it on graph paper to the market profile charts and in six months you will see the same 4 or 5 patterns over and over,you will learn faster by osmossis than any 3 years and 20 books will teach you...knowledge is power
If you have a negative outlook on things and if your actions are only a result of negative stimuli try this little trick: If you traded for a while, you pretty much know what works and what doesn't....You probably already have a feel for when things feel right and for when they don't. Think of your weaknesses in negatives: "I am disgusted at this choppy market"...."I am not a noob and will not chase this move"...."I missed the trade....So what?....Only a moron would dwell on that..." WAAAAAAY TOO MUCH TIME is wasted on dwelling over missed or losing trades....and it actually leads to further mistakes and errors as the day unfolds....your mindset should be the same regardless of your p&l, regardless of the previous trade and regardless of things going on in the outside world around you. There is a point when mistakes stop...There is a point when your winning trades go immediately in your favor....There is a point when things just feel different....but you have to do the mental work.... How about this, and you have read about this before: screw emotions...you don't act on emotions, you act on information the market provides....that's it....unbiased information...if things unfold to your liking trade it....if it's something you don't understand or don't agree with then stay put....No trade is a trade...