|
PureBytes Links
Trading Reference Links
|
>
>What are you afraid of while trading?
> Is it losing money?
Sure, until it gets off the ground. Any given trade could be a loser.
> Is it that the market has the power to absolutely ruin you financially?
This is something you do to yourself. The market is just a vehicle.
>Is the trading environment your friend, or your enemy?
Since I only trade winning systems, it's my friend$$$
>A threat that you must deal with?
You gotta be on the job every day. The one morning you sleep late will be
the exact same one where you needed to have that order entered. In that
sense it's out to get you!
>A very important question, when you are looking at the markets, and
>thinking of making a trade, what exactly are you focusing on?
I'm focusing on not doing anything spurious, and just waiting for the next
signal.
>Are you focusing on what the market can take away from you?
Yes, when calculating position size.
>How much money you might lose, or how much money you may make?
A set amount will be lost if the trade fails outright. The exits are more
variable depending on market action, but I know the average amounts won and
the deviation. Statistically it's WORTH IT.
>Are you loving the market, or resenting it?
Amused by the market and all the headtrips surrounding it. I love the fact
that it exists and I can make some money.
>When you have made a losing trade do you ask yourself, what is great about
>this trade?
you can take some consolation if you followed your plan. Otherwise it
SUCKS, there's nothing great about a losing trade.
>Do you ever ask yourself, what is not perfect yet?
Sure, but you have to be satisfied with what you get. Forget about
perfection in trading.
>What am I willing to do to make it the way I want it?
It IS the way I want it. I have a well thought out plan and I follow it
very, very carefully. No funny stuff. It's a pristine thing. I refuse to
talk about markets with people, and go out of my way to avoid hearing about
it. CNBC seems downright vulgar in this context, like dog crap in my
beautiful green lawn.
Getting here almost killed me. You really gotta get serious. Work and think
so hard your head is ready to explode. But even that's not enough. If you
want a better result, at some point you need to transcend your present mode
of operating. Like practicing the violin.
While being satisfied with what you've got, you gotta keep chipping away at
the next level. There's always another level. No matter how good you are,
your work is not done. But you can scale back the effort a bit.
>What am I willing to no longer do in order to make it the way I want it?
You can't have your cake and eat it too. If there's something you need to
stop doing, then stop doing it! Or else don't expect things to change.
>How can I enjoy the process while I do what is necessary to make it the way
>I want it?
Don't waste money in the markets "learning as you go", that could increase
the fun level. Instead go off and do the research. Formulate a solid plan
backed up by statistics. THEN start trading.
But please note, the more effective the trading method is, the worse it
will "feel".
The real enjoyment comes from separating yourself from your feelings. Admit
to yourself that you can't control what happens, there's a finite chance
you could lose X amount. Or that you could miss out on something. Who
cares? Your rules are designed to allow you to survive and profit in the
end, that's why you're trading them.
Also COMPOUNDING is very enjoyable. :-)))
>
>Just curious,
>
>John
just spewing,
Phil
|