Your Own Worst Enemy

Discussion in 'Psychology' started by Joe Ross, Mar 4, 2011.

  1. people will argue based on their experiences for that is all they can do. for the trader (new or already on the way) who wants to get better results then the trader must look at their own personal circumstances and abilities. it is very important to get the order correct as ability can be of no use if the circumstances do not support same.

    there are arguments for and against in relation to simulated trading. it is a must to learn about charting and placing orders for both entering and exiting trades. if a trader is unable to place the same emphasis on a paper trade as a real live trade then simulated trading is of very little use beyond the former mentioned.

    however there is one thing that is certain in the markets no matter what you know or think you might know and that is that the market can do anything at any time. if a trader is able to react to market changes then the ability to hold on to the money that has already been made from previous trades becomes a reality. too many traders give back way too much and then wonder what is wrong?


    as one has also rightly said (most of the things we do, we do for no better reason than that our fathers have done them or our neighbors do them, and the same is true of a larger part than what we suspect of what we think).
     
    #11     Mar 14, 2011
  2. Redneck

    Redneck

    As does the ability to dig out of any hole one finds one's self in

    Think about the serenity in that statement :)

    RN
     
    #12     Mar 14, 2011
  3. your own worst enemy may not be yourself at all but may be those whom you look to for advice or guidance. what makes a person think that others know certain things that will help them make money even though they have had no experience of making money from what others have said?

    the mind works in mysterious ways and it is best to realize that the outcome of your actions are a direct result of how you react to information that is presented to you by others. if you think that others know more than you then you will be easily influenced. if you think that others know a lot less than you then you run the risk of being over confident in what you think you know.

    the best approach is to not think about what others say at all but to learn how to react to what you see happening in front of your two eyes. if the close is above the open then the price is rising and likewise if the close is below the open the price is falling. how fast the price will rise and fall depends on many different things but the only thing that matters is how fast you can react to what you are seeing happening if front of you. if you are a scalper using a tick chart then you must look at different things than if you are a daytrader using a 5 min chart. there is one common thing that all traders should look at when trading and it has already been mentioned by a few different posters.
     
    #13     Mar 17, 2011
  4. Areding

    Areding

    Some people tend to fail because their parents didn’t support them from their very childhood and constantly denounced them, children grow up unsure of themselves and do not expect success in their subconscious
     
    #14     Dec 29, 2018
    themickey likes this.
  5. themickey

    themickey

    And the children's parents fail too.
    As the child grows into adulthood, they will often not attempt to contribute to the parent's success.
    If you want the best for yourself, treat others with respect and the flow of love comes back.
     
    #15     Dec 29, 2018
  6. Overnight

    Overnight

    Children will fail if they click on your avatar pic, like I just did because it dawned me that something did not look right with your pic of Mickey Mouse. I was right...

    mickeyscary.jpg

    I like yer style, dude. We need to party.





    Oh the mental trauma we are causing! Teehee!
     
    #16     Dec 29, 2018
  7. themickey

    themickey

    :sneaky::rolleyes:
    I didn't want a pretty picture avatar of the mouse, as it's just not how I behave at times, hehe.
     
    #17     Dec 29, 2018
  8. Buy1Sell2

    Buy1Sell2

    https://www.elitetrader.com/et/threads/the-market-cannot-defeat-you.83397/
     
    #18     Dec 30, 2018