some traders might find it hard to believe, but i was profitable from day one of my live trading. i still am BUT i had a psychological problem. in psychology it's known as the "profitable trader's inverse guilt-based inferiority complex." it's a complicated phenomenon, but, in a nutshell, it's a strong feeling of guilt, every time you win, knowing that most other traders lose most of the time . . . thus, it is only logical that the more you win, the more guilty you feel . .. it has become almost unbearable, because i've always been very profitable . . . but one day, you know, i just let go . . .. i just went ahead and unleashed my inner . . . you know . .. i let my winners run . .. . . and never looked back . .. Varima
Thank you for sharing. Perhaps I could suggest something outside the square, say Philanthropy. I can highly recommend it as it has worked extremely well for me. See no guilt or self absorbtion whatsoever! Best Regards Johno
Ahhh yes the philanthropic supertraders psychologically scarred from all the profits ET.. where all the millionaires meet
do something good with the money you make, easy like that and there will be no more conscience conflict in your life; I saw in another thread or maybe was even in this one that you claimed to hate winners, hmmm ...? Everyone getting into trading pretty soon will figure out that the whole thing has much higher potential to destroy lifes than to heal or create measurable value. And I fully agree that it finally is a bad thing unless you give it a meaning and live it as a mission. Losers get what they are subconsciously looking for - punishment. Winners went through that stage and are aware that they cannot build a bridge for those who actually have been funding them. A long lasting losing trader is somebody who has no respect and apreciation for money and therewith will systematically get seperated from everything he has until he subscribes to the point that he cannot just come, take and then leave. This is going to happen with as well as without your participation Ms G-V. I am very sure that most here don't want to be traders without knowing it. They might want to become one but have no intention to stay. What keeps them moving and motivated is a fictive result. Like and love what you do and you can only grow.
At first you sounded suspiciously sceptical for someone on ET, but then I thought, nah it could never happen here! Regards Johno
Perish the thought.. I know all the trading superstars prefer to come in here and chat rather than lounge on their yachts in the Greek Isles sipping cocktails with supermodels
i agree, they seek pleasure in punishment. that's why they're looking for it, even if subconsciously this means they must find a way to establish a stable association between a winning trade and punishment (pleasure) Varima
be more disiplined: wait for trades to come to you. dont trade out of boredom, revenge, or chasing a market when the move is over. Learn price before you learn indicators learn s/r, price patterns like wedges, triangles, ect. An indicator is just there to help confirm your belief on wether you should go long or not, but should not be used solely as a buy/sell signal alone. Learn proper trade management Move stops up over time to reduce risk, and lock in profits. This is critical as a beginner. stay in winners as long as possible this goes back to being disiplined, dont get bored, or impatient. Take profits over time, and by using effective stops, you'll be taken out when the time is up or trend is over. dont cancel stops this was hard for me when i started out. Before the trade, I felt confident, but later got scared and took an early loss, in what would have been a nice winner. In other words Stick to your trading plan