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>I am curious about how the members of this list would answer these
>questions.
>What are you afraid of while trading?
Giving back profits gets my juices churning the way nothing else can.
> Is it losing money?
No.
> Is it that the market has the power to absolutely ruin you financially?
This question is crazy. Unless you think the list is filled with gambling
addicts.
I always have a stop in place. I'm clear about my precise $$ risk in a
trade at the moment I place it.
Sure, I could be slipped from here to Sunday in the case of a national
disaster, but ruined?
Not when the initial risk is a considered (and acceptably small) fraction
of the trading account.
>Is the trading environment your friend, or your enemy?
Challenging opponent - think "chess match".
>A threat that you must deal with?
When the other side starts to take back profits I've accumulated in a
trade, "threat" describes what I'm feeling. But since most trades are
closed at a profit target threat isn't a big issue.
>A very important question, when you are looking at the markets, and
>thinking of making a trade, what exactly are you focusing on?
>Are you focusing on what the market can take away from you?
No.
Losing trades are one of the costs of doing business, like data feeds,
hardware, software, etc..
>How much money you might lose, or how much money you may make?
I always know where my equity curve is for the month. Trading is a game
I'm always playing against myself: trying to beat last month and the
monthly averages.
Like a ballplayer who knows his batting average when he steps up to the
plate, the dollar figures are real to me.
But when the pitcher releases the ball, the batter's not thinking about his
average, he's focused on the swing. Same with the trade. As it comes time
to swing, my attention narrows to the action of the market: is it acting
the way I expected it to, are the other markets in step, are internals
trending the way they should, etc..
>Are you loving the market, or resenting it?
Do I love the chess board? Let's say I'm captivated by it.
Have gotten away from "love and resentment" as trading has become more
systematic and predictable.
>When you have made a losing trade do you ask yourself, what is great about
>this trade?
Not in those words. I do tell myself and believe that, "Every trading
decision I make makes me a better trader." Losers are mined for lessons.
>Do you ever ask yourself, what is not perfect yet?
Some version of that. Always.
>What am I willing to do to make it the way I want it?
This assumes more control over personal process and action than I believe
in. I just keep stepping up to the plate and swinging, and then looking
at the result.
Not sure I have much choice in the matter.
>What am I willing to no longer do in order to make it the way I want it?
Is this question left over from est?
>How can I enjoy the process while I do what is necessary to make it the way
>I want it?
This is a wonderful question.
First, lose as little money as possible! (Start having fun by reducing the
pain.)
Then limit the time you spend trading, doing analysis, tinkering with
software... Don't come at it as if success is a linear function that
depends on the time your butt is in the chair, because it's not.
Make friends with other traders and CALL ONE ANOTHER during trading hours.
It's good to make friends with people playing on the same board you are...
it adds to the "fun" of the game and the results can be surprising and
rewarding <wink>.
If you're going to be here for a while, fun is important. (Success seems
to be a function of longevity, so since you're going to be around for a
while... )
Reduce Stress. Make it a priority to find out how you can relax in each
step of the process (trading, dealing with software, all of it...) fun
and stress are incompatible.
(Can you imagine the size of the Cruz brothers karmic debt in the "stress
created for others" book?)
(Final thoughts on)
>>How can I enjoy the process while I do what is necessary to make it the way
I want it?
Don't go at it as if it's a life-or-death issue.
Smile! Alone in your chair, smile. Once an hour, minimum, smile!
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