Profile of two types of traders..... One is afraid to get in and misses good quality trades only to lose when he decides to enter the market...... The other trader is afraid to get out of trades.. ..Consequently, gives back all her money and loses in the process.... What advice do you have for both of these traders?... We has traders often beat ourselves...The market buys or sells in spite of our opinions, and or positions. Right?....But, why does the trader always BLAME the Market or its' conditions?
"One is afraid to get in and misses good quality trades only to lose when he decides to enter the market......" If so he doesn't know horsesh*t about the market and should stay out (nil loss) and do his study first. "The other trader is afraid to get out of trades.. ..Consequently, gives back all her money and loses in the process...." Way short of knowing his market .. he suffers from catatonic brainfreeze, should stop trading and do his homework study. "why does the trader always BLAME the Market or its' conditions?" Venting emotion because he is a born loser.
The trader is part of the market. Thus, by blaming market.. he is blaming himself as well as his actions in the market. A more complete blame if you ask me rather than just blaming himself and not his actions in the market.
I agree. A trader MUST have a plan in place and then execute... Both flaws are fatal to a trader but, does one have more hope for eventual success than the other? Is it worse to fear, or have problems getting out of trades, but no problem getting into them....Or, is it worse to fear getting into trades but not problem getting out...(too early)
When I was a young boy, I did crazy manic things...My mother did not like the meds, so she stopped giving them to me. I used to cut the pictures out of magazines and tape them in my three ring notebook pages... I used to count my mothers tips from the beauty salon every night crazy things... Today at 47 I find a great feeling of satisfaction to update my Excel spreadsheets...Crazy things....but I do not feel complete unless the work is done...(I will not tell you the hours I spend and how many spreadsheets I have...weekends are fun as I love to find correlations as I pour over my work) i have what I call Hybrid spreadsheets made from combos of other spreadsheets that call the next days market action with uncanny results...and I do not know why...so i do not trade them...also they stop working suddenely after months of working...if I can figure out why, this will be an important key... Wifey says I am both a genius and an embecile...I have learned to laugh at myself... Michael B.