I have to say I have what I think is a serious case of ADD, I lost the hyperactivity when I became an adult. I have been skeptical over the years of the ADD thing, but my time spent on addforums has me reaching the conclusion whatever it may be, myself and many others have it, and would rather NOT. This trading *thing* has brought me directly into battle with my ADD/impulsion/etc, unfortunately it has not been until recently I came to this conclusion I have been unsuccessful each time I tried to trade previously, all on options. The worst part is many of the trades I was right on, just horribly wrong on the execution/timing of them. That is the worst. I know that managing the ADD through proper diet and excercise and really focusing on the psychology of this sport is what will make me successful. I can look back to my failures and spot ridiculously obvious patterns of impulsion/denial/depression/etc. For me being able to be disciplined in trading will be a victory in upon itself. I lack this in so many things, and I know if I can gain it here, it will mean future profits and a better life overall. I never want to blame anything, but it is very difficult for me to do certain things people have 0 issues with. I came across an old thread about horrible books. Mark Douglas for me is brilliant. I need this. I need this reinforcement. I can be so wreckless impulsive and destructive, where as others would simply never engage in that type of behavior. This ADD thing is real and has effected me and was probably one of the reasons I made so many impulsive horrible decisions before. I saw myself doing it, and I just couldn't stop.
Not to say what you posted is wrong, but everything you mentioned is common with all traders. Now ADD might AMPLIFY that (I have it also), but I have found that it has also helped a bit in a way. Many people with ADD have the great ability to really delve into and exceed at things they are interested in, yet flounder around on ones they are not (various required courses in school for example.) Where the average person, can "sit through" and digest stuff they dont care about, the ADD person has it go through one ear out the other, and cant cope as well. I have found you need to develop a system of checks and balances that works for you. (ie writing things down, taking note in relationships, etc) It is a disadvantage, but when channeled properely, it can work in your favor. Bill Clinton has it, and many successfull peopel have had it. Its all about channelling your energy in the right path.
Right, this is true. With some people it could be just impulsive behavior (which is usually a sign of a disorder) or a gambling addiction (also usually a sign of something) in my case its impulsiveness, I dont gamble on anything except this, not much of a gambler more then maybe a risk taker (also common with adderz) ADD comes in diff flavors as well. Sure I can hyperfocus on the market but that could be potentially hazardous. Also I have one helluva time trying to finish a book, just the thought of it ugh I'm only posting this because this is an ADD thread, and I think it can severely interfere with ones trading, at least if they have similar traits as myself. Most people I know with ADD have nothing to do with markets, I think it would be very disasterous for most of them to try to undertake it. I know if I dont get at/modify/change the the traits that ADD gives me, I wont be a successful trader. That's it for me.
mdl, good advice: I have found you need to develop a system of checks and balances that works for you. (ie writing things down, taking note in relationships, etc). I have a mild case of add, it is an affliction of degree. I feel I've kept from worsening with monitoring myself. The writing, for me that includes the very next step I take before action. It isn't for every little thing, only if the particulars lack cohesion: Looking at the whole picture, the logic, the people involved if my choices may affect them. Reality check guess you could call it. I will never be perfect (who is?) and timing + research + luck will always affect my trades. What it boils down to is I can't linger in selfdoubt, so I force myself to be still, consider the above, and listen to my instincts. Helps tremendously to not act hastily, with a residual effect in helping my concentration over all. These steps keep in from worsening and can improve add as a bonus. The writing thing is also good as a journal.
Absolutely. The combination of stilling oneself, becoming more calm was so helpful when I tried Meditation before. With this reminder, I'm going to get back into it.
mdl, thanks for the positive feedback. I believe any safe method that enables one a different and calmer perspective, clarity and focus, goes long way toward better choices.
Before you start shelling out bucks for drugs and therapy, check out your diet. Without pushing a particular philosophy on you, I recommend a balanced diet (meat, veggies, starches). Lean towards more meat and green veggies than starches.