I wanted to start a thread to discuss the hindrance or empowerment of FEAR in the game of trading... I was going to start the thread off with some of my own thoughts -- but after some reflection I think it might be a better idea to let the thread take on a life of its own; for the intention is to have an open discussion on the topic and not my particular views... PEACE and good-trading, Commisso
Hence the title Would you care to share any or your own experiences with it -- in the hopes that we may get the ball rolling a little??? EDIT; Oh I just caught the acronym! Niiiiiiiiiccccceeeeee PEACE and good-trading, Commisso
I'd say insecurity. We all fear something unpredictable. It's said that one of the biggest human fear is darkness. It's because we can't see what is around us. Not knowing if the trader is going to be profitable in a trade maybe one. Still, there are blind people walking in the streets with a cane. As an anology, we're all blind as traders but technical aspects are the cain. Getting used the darkness and having sensitive perception with what the cain is what we may need to do.
I used to sleep with a nightlight when I was a kid, but now I need total darkness. I used to dread speaking in front of people, but now I like the rush. I used to be afraid of climbing a mountain, but now I understand why so many people do dangerous things. To me, it isn't learning how to dispell with fear that is important but rather how to recognize what it is you are feeling and learn to turn that to your advantage. Fear can be a powerful tool to keeping one alert and responsive to his environment. Fear exists because it is a distinct evolutionary advantage. Without fear, animals would have been picked off and eatten long ago. Imagine the zebra saying, "Oh the Cheetah is running towards me at top speed! Wow, look at those strong muscles. I wonder if it is running up to say hi to m ... " Someone once said that whatever doesn't kill us will only make us stronger -- so in that respect, if you are afraid of something, then accept your state of mind and recognize the fear but channel that energy instead of having it channel you into doing an unwanted action.
Back in the days when I used to fight full contact karate. That's bare fisted for the purists, our gym had a sign on the wall that read: False Estimate of Actual Reality My first tournament was a knockout competition. 8 fighters. Winner continues on to the final. If you make the final you are already broken and busted from the first two fights. I made it through to the final where I met the Australian middle weight champion. For the first few minutes I felt like I was cast in wet cement. I just couldn't react in real time. I got smashed. About half way through the fight I actually started to get angry. Angry at myself for letting this guy hurt me. The pain left my body. The fear left my body and I just moved. All my skills returned, my speed, power and coordination. I didn't win that fight, but I put the guy down for the first time in his fight career. I don't see the guy much, but when i do, he shakes my hand. Fear. False Estimate of Actual Reality Runningbear
RunningBear, You practiced Kyokushin? Anyways... Well, I agree though. But for me it's a bit different analogy. When I first started, I wasn't able to spar a bit. I would just be panicky all the time not really thinking but after a while, you learn to react. After, then you get used to the reaction and start react with the appropriate moves with their attacks.
I use "you" in the context of "one," and this is just an opinion. 1. I believe that if you are in a situation that you have not been in or trained to be in, and that situation brings fear, you may experience problems dealing with, and reacting to that situation. 2. I believe that if you are in a situation that you have experience in dealing with, or have been trained to deal with it, and this situation brings fear you may experience problems dealing with it, and reacting to it. 3. I believe that if you are in a situation that you have experience in dealing with, or have been trained to deal with it, and this situation brings fear, AND you have confidence in your own abilities (training) and decision skills you can thrive and even use fear to your advantage. Here is a new one: F.ocus on E.verything A.nd R.eact
Would this anger (in trading) not lead to overtrading and bigger losses? Or is anger at yourself not necessarily the same as anger at the market/your opponent and therefor should be encouraged. eg, "I am pissed at myself for not following my rules" = OK "I am pissed at the market for taking my money" = BAD