1. Presently, what is your single biggest fear in life? It need not be limited to the trading arena. Ending up alone and/or having to settle (I'm young). 2. How, and to what extent, do you think this fear has either helped or hindered you? It's helped me realize that money is the only leverage that works in any situation and knowing that has helped me remain focused - even through 2 false starts in trading. 3. If you have found that, on balance, your fear has hindered you, what steps do you think you would need to take in order to overcome that fear? The logical consequence of being money-centered has led to a fear of being poor. That was my biggest fear and still is. When I first began trading, I had a very hard time accepting losses. 4. If you are not presently taking these steps, what prevents you from doing so? (If, indeed, you have found that your fear serves as a hindrance.) NA.
It depends. For example, muscle pain or discomfort during intense physical exercise can be a good thing (if done properly), whereas joint pain is definitely not. There may be other such distinctions. I think that some respondents are getting away from what I originally had in mind. Perhaps I did not properly articulate what I had in mind when I started this thread. Rather than "biggest" fear, I should probably have referred to the most prevalent one. None of us really wants to die any time soon, or lose our sight, hearing, etc. But I don't think that this is the kind of fear that visits most of us with any regularity. It may trouble us when we think about such things, but we probably don't think about such things too often. Therefore, such fears probably do not have a material effect on our lives. The kind of fear I really meant was the kind that tends to nag us during the day and visit us at night. Not necessarily every day, but often enough that it may actually affect the way we think and live. Some respondents did interpret what I had originally meant (but which I worded poorly). Those who did not are welcome to post again in this "revised" context.
My biggest fear, excluding the death, if the hope convinces me, one day or another, to hold a losing position. It is ridiculous as it is the hope. Holding a losing position is not always applicable to trading but to life as well.
--------------------------------------------- Hello Sammy: Maybe I should have expressed a risk-reward ratio I little clearer since this is a finance forum... The guy you mentioned was biking in order to learn more about bikes so he could earn a living fixing them...? Great. Taking huge risk on a bike for no real reason would be low on my list. I took a risk flying the higher risk ag work so I could earn a fairly high income. To me it was a good risk-reward way to fly. It also seems to me that young people take risk just to try and experiance the thrill... maybe it is just part of human nature. To each his own. Live and let others live as they see fit. (if they don't hurt others doing it.) Thanks for your comments.. agpilot
-------------- 1. My biggest fear is living in poverty. I dont want to go to college because nothing there interests me, and I dont want to get a job because the low pay, and I hate the work 99.9 % of the time, so it seems to me, its almost inevitable that my life will suck. 2. this fear has helped me because I'm going to be the best damn trader that I can be by being disciplined and sticking to my method. It's hindered me because my self confidence is one tick above 0, and I know unless I change my attitude, I'm screwed. 3. Go to college --- If you are not presently taking these steps, what prevents you from doing so? --- 4. 1) Me and my family come from some money..I guess thats how I could put it without braging. So I can hold off on College for a while till I figure stuff out. Trading does not require a college degree. Classes and books are expensive and I never know till I try if I'm going to like the course or not...if not, I wasted my money that could have gone to a good trade. There is no "Day trading" course in College, if so I'd sign up in a heart beat. 2) Low confidence because when I was 18, I wanted to go to ITT tech and get a 2 yr degree in programming...that did not work out for many reasons. I then went to a Community College and took Accounting...that didn't work. So I guess to answer the 4th question, whats preventing me from taking the above steps?..Trading. I found something that I love and enjoy, and I dont want to stop anytime soon . - nathan