If the only way to get smarter is to play a smarter opponent... and what you want is to win... then it is best to play dumber opponents... no shortage of that...
I have one of the biggest Egos around, but when I go to my office, it is all business past the door, only talk and trade markets. And when I leave, it is tough not to be super happy that I stole a ton of bucks from the inexperienced or large traders. All my friends already know I am an asshole, but I don't flaunt what I have made, but cause I am not in the same financial sinking boat they are in, am considered different.
Mark Douglas is good for psychology though a book that sorted me out is not trading related but life related (please don't yawn!) Eckhart Tolle's "Power of Now" relates not only to your mind conditioning but has a massive effect on your overall quality of life, including trading. Well it did for me at least. I imagine it would help others out there also in the markets...
Did I say it was a bad thing or wrong? To each his own. My opinion of if its bad or good or right or wrong does not really matter now does it, unless it was about me? I simply observed that you were pontificating with your EGO...was I wrong? Now if you ask me what I think about big or small EGO for me...well that is another story. I would bore you. Some conditions can cause some to overlook the obvious or live in some sort of illusion or even denial. ES
When I was a broker a long time ago, they gave me an old seasoned trader as a adesk mate. The first hour he told me "leave the ego at the door" Twenty five years later, the best advice. Didn't realize how complex it was.
Hmmmmâ¦. Trading without ego⦠interesting conceptâ¦.. May as well trade without your consciousnessâ¦, iow â without your thoughtsâ¦, your beliefs.., your emotionsâ¦, your very being Never happen â never Ego is as much a part of us, as everything else inside usâ¦. So how the hell to separate from itâ¦. Wellâ¦, fact is, we donât ====================================== Every trade I take; I have the power to let a loss grow too big I have the power to fight price tooth and nail â and trade the other way I have the power to get nervous, and exit winners too fast... or not wait on a proper set up⦠nor take a proper set up once it materializes I have the power to form an opinion about where price is going I have the power to overtrade â till Iâm blue in the face I have the power to delude myself into thinking I'm the biggest, baddest trader around I have absolute power â to blow my account up absolutely⦠and worse ----------------------------------------------------------------------------------------------- But â on the flipsideâ¦.. I also have the power to choose not to⦠and more importantly â to trade each trade â exactly like thatâ¦. Master your self first⦠then mastering the mktâ¦, your successâ¦, your egoâ¦, your whatever â ainât nothing but a thang⦠=============================== Inconsistent, or non existent profit⦠OR excessive losses â is simply a mirror of that which is within Nothing more⦠nothing less Here's to you liking what you see... or not RN
Ego 1. the âIâ or self of any person; a person as thinking, feeling, and willing, and distinguishing itself from the selves of others and from objects of its thought. 2. Psychoanalysis . the part of the psychic apparatus that experiences and reacts to the outside world and thus mediates between the primitive drives of the id and the demands of the social and physical environment. 3. egotism; conceit; self-importance: Her ego becomes more unbearable each day. 4. self-esteem or self-image; feelings: Your criticism wounded his ego. 5. ( often initial capital letter ) Philosophy . a. the enduring and conscious element that knows experience. b. Scholasticism . the complete person comprising both body and soul. http://dictionary.reference.com/browse/ego