Discussion in 'Psychology' started by tenthousandmen, Jul 4, 2012.
I thought I would take a sample of the one star thread voters, cheers. (note-serious poll here)
Because when the 20-MA crossed the MACD under an ass-face pattern in a market crash, I went long. I just don't understand why the 20-MA crossing the MACD under ass-face failed, it worked every time in those books. The market is rigged by the illuminati and Oprah, man.
The answer is simple - people lose because they are biased and it's just perfectly normal. They see what they want to see , they look for stuff that's not there , they 'see' things that don't exist and look for 'evidence' to support their biased approach. They keep trading because 10 years ago they won some. Countless of reasons - simplified heuristics , they heard stories, they look for similarities that are absent, they follow subjective TA / more like a cult /, etc,etc,etc.. The most important is they stay away from OBJECTIVITY and that takes its toll mercilessly.. On a more positive note, if you lose - no need to see a shrink as you are perfectly normal
Three ways to win / at least not to lose /:
1) being abnormal
2) being lucky
3) staying objective / following scientific methodology/
Amen bothers & sisters
Oprah? I knew it. Dammit.
Because i am stupid shit.
To much Internet porn killed my trading
And I'm for real
I used to thrive on trading fast markets, markets anywhere that suddenly heat up for some reason or another. But the execution of trades and price movements in fast markets has gotten way too fast for me, and I've struggled to adapt a broader strategy. Not giving up tho.
I am a looser because I had a little amount in my trading account with this amount I want to be rich in no time this risky trading make me a looser. I blow up my account in greed to get more and more. I should make small profits to protect my account.
It's all EMG's fault! It just is!!
I used to lose because I didn't have an edge. I didn't even know what an edge was, I placed trades blindly sometimes they went in my direction most of the time they didn't. When they did go in my direction, I got out immediately, when they moved against me, I stayed in the trade forever hoping it would turn around, but it never did, and I used to lose 5% of my equity on one trade, sometimes more. The market was the atlantic ocean for me and I was stranded somewhere between NY and London on a rubber dingy that was quickly taking in water.
But through persistence - yes, persistence, I found my edge, nothing too complicated something simple but it works, and more importantly I realized, once I am in a trade, I am the only one that can give myself profits and I am the only one who can take a small loss. Let me repeat that: I realized I am the only one who has control over my profits and losses. So now, I stay in a trade very calmly not freaking out if the trade goes against me and take the small loss but more importantly when the trade goes in my favor I let it run using a trailing resistance band and when it wants to go no further, I take profits and I guess that is how you win on a small scale in trading.
And oh! yes! I have conviction in my trading plan, full conviction, I know over a large number of trades, I will have more winners than losers. Self confidence is key.
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