a very interesting one regarding fear of missing out : - taking impulsive trades : " I took the well planned trade. Turned out OK. Then I looked to the equity, man damn, I have to get this capital to work!!! I simply can not leave so much cash lying around and not being put to work!" ( sic) - " there was so much capital available, I thought I need to put a trade, ANY trade, that I have to trade!!!! I did not even think if winner or not: that was not my worry. My worry was to put trades in!!!! I was seeking again the adrenaline rush : pleasure of trading!!! " (sic)
What I am getting from the readings on fear of missing out : however the equity curve or the profits, the trader has to remain neutral. Even if good trading : the trader has to stay neutral and not feel any euphoria or excitement. No matter what, the trader needs to stay completely neutral. Completely emotionless. Emotional control is key.
Even if the wins are huge, the trader needs to stay completely neutral Now how to remove the feelings of euphoria and excitement, so as to stay neutral????????
wow I wish I had done this stuff on psychology ages ago. Still on Fear of Missing Out : - when I taste the profits, I stop thinking clearly. lol! Now that reminds me a guy who used to buy ALL his properties cash, and more often than not get a discount on the properties. I am wondering if he was betting on the desperate seller starting to stop thinking clearly when the cash was put on the table in front of his eyes and he had to make a final decision on the spot.
hmmm interesting. apparently winning in trading gets the body to release dopamine and adrenaline. the dopamine + adrenaline makes the trader excited and happy. the brain chemicals activated are then similar to those activated by cocain use! YUP! in fact behind it is the "cravings for big wins" , as a big win will release massive amount of dopamine+adrenaline in the brain.
I am understanding even better the benefits of trading with compounding interest vs trading for huge wins perspective.
Now, if I look at all the notes on Fear of Missing Out from the perspective that the real motive is a "cravings for big win", so as to have a huge release of dopamine and adrenaline into the brain : it all makes sense. cravings for bigwin, addiction to chemical released during big win.. In a certain way, trading well ( respecting all risk parameters ) to generate profits could have been about really building profit cushion, the profit cuchion then allowing to take higher risks ( bigger position size, higher number of trades) so as to get a big windfall, or a bump in profits. What is sought is big win, not bigger profits, but big winning trades so as to create this cocain-like brain chemical effect. The brain is a funny thing. Now I understand why, in my case when looking to the profits leads to higher risk taking. Interestingly the higher risk taking have never been about bigger stop loss, but bigger position sizing. Searching to big win. Cravings for big win : that is what I have to clear. I actually prefer compound interest and low risk trading. It is a safe and secure thing, boring for sure, it gets results ( the 200 pips were over 7 low risk trades ) . I guess I would have felt more exhilaration if the 200 pips had been generated in just one bumper trade.
The really good thing about trading is : one just has to do one's psychology work, and profits do take care of themselves. Obviously that requires self-honesty, and it is really great to be able to see how to improve oneself. May be that is the great thing about trading : if one does things well - including a psy- one becomes a much better person : more sane, more healthy, more real qualities. Thank you trading : now I know I need to get to the root causes of this type of craving. This is a big chance for me to remove the "junk" in my subconscious. May be trading is just a revelator of the "junk" that is in one's subconscious?
Again MANY THANKS for the "cleaning up". For the first time, I have managed to have four full days with zero harassment. I can not thank you enough about the excellent work you are doing of bringing peace. I think ...A...ja... and may be M...dou have been approached by the "pimp and some of his females ". As I visit them mostly for their mum, I did not press the matter further to find out really which of the females exactly was using them. I wonder what bait and/or lies they used to get these 2 really decent people to fall into the trap and be "hired mouth".