The Noob's Delusion

Discussion in 'Psychology' started by Joe Doaks, Feb 17, 2009.

  1. If trading is like anything it is like a con game.
     
    #21     Feb 18, 2009
  2. firscall

    firscall


    I totally agree. Developing the profitable system is the easy part.
     
    #22     Feb 18, 2009
  3. If so, then why not just automate it and sidestep the tricky part?
     
    #23     Feb 18, 2009
  4. firscall

    firscall

    If you're trading well then trading should be like accountancy. When I was a noob trading was very exciting (another destabilising emotion) or rather the lust for money was exciting.

    Now, I have conditioned myself to get excited about a well executed trade (regardless of the P&L). I praise myself more when I take a predefined loss then I do if I hit my profit limit (a limit NOT a target).
     
    #24     Feb 18, 2009
  5. DrEvil

    DrEvil

    Everything you need to know is out there, it's been written over and over. If you survive in the game long enough to become consistently profitable, you will no doubt look back and realise that you had it all there in front of you. For most traders, you need to re-invent the wheels on your bike before you can trust it enough to get on and start peddeling. That's just the way it is. As on of the wizards said "if you stand around (he was talking about the pits) long enough you will get it".
     
    #25     Feb 18, 2009
  6. firscall

    firscall

    I'm happy with my trading but automation doesn't automatically overcome the psychological pressures of trading. It certainly helps but it isn't the panacea that many profess it to be.
     
    #26     Feb 19, 2009
  7. If I bumped into Jennifer Aniston, I wouldnt really expect success but I would have my game on 10. You know, show her the goods or something.
     
    #27     Feb 19, 2009
  8. I know. Just checking. :)
     
    #28     Feb 19, 2009
  9. Because letting an automated system just do its thing IS the tricky part.
     
    #29     Feb 19, 2009
  10. clacy

    clacy

    #30     Feb 19, 2009