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Happy holidays ....I'd have to agree with the below. But you can work
through the 'heat in the kitchen' and make it out the other side if there is
tenacity in your midst. I didn't say it was easy. I had some help with my
TA but I was pretty much left to my own devices for the 'mental' aspect of
things. It hasn't been an overly easy road, though it has been 'rewarding'.
Fortunately, things like 'mental stretching' get transfered to other aspects
of our lives. In our society we expect to get 'paid' for work done. In
trading, sometimes we do and sometimes we don't get paid regardless of the
endless hours we may put into it....there are no guarantees. If you can't
deal with that, trading won't be your last 'calling'. The sooner I
realized I had issues with patience, fear and greed as I believe all traders
have to various degrees and the sooner I 'dealt' with them, the quicker was
the turn around in my overall trading success and performance. These
issues for me are by no means 'solved' nor will they or should they ever be
with anyone...neither are the mechanics for the perfect trade...but instead
it's a continuing learning and growing pathway. That to me is one of the
greatest absolute pleasures of life.....learning. Sure I tinker and I
tweak with indicators, methods and systems, but my results end up far better
in my favor when I spend the time on 'me' rather than my system.
Jim (gone for 10 days as of the 26th)
>Several years ago, I read an article in the WSJ that listed the worst
>investors by occupation. I remember the top three in order. They were
>doctors, bankers and attorneys. There was some diagnosis about how each
>group was trained and how their minds worked due to this training along
>with peer teaching. As I recall, doctors were described as being very
>unimaginative and only able to deal with things they could see and
>grasp. *IF* there is any validity to this, you would seem to be trying to
>break out of that pigeon holing. (I would like to state that I have no
>idea if the story I am referring to is true or not and my life's
>experiences do not necessarily substantiate such beliefs). I wish you well
> in your endeavor
>Oh... the top profession for investors was small businessmen.
>Bob
At 11:17 AM 12/24/2002 -0800, you wrote:
>Hi,
> I'd be happy to discuss/debate your post , bobskc, below when we visit
>Sanibel Island later this week but in the meantime-- I graduated Magna Cum
>Laude, so what, from medical school and within 6 months of going into
>practice was nearly broke having overhead that was near exceding my income.
>Needing to do something desparate, I paid $30k (1980)to a consultant who
not
>only changed how I practiced but changed more importantly 'how I thought'
>about practice. This company through tapes, personal consults, mentoring,
>newsletters, seminars, etc was able to change my deeply rooted previous
>parental imposed archaic thought process. Within 12 months my practice
>increased financially 10x but to me the most profound and important change
>was 'how I thought' about practice......so as it turned out, regardless of
>where I set up practice in the future (and in my vagabond life I've had 5
>separate practices in the last 22+ years), it was successful not because
of
>'my magic touch'...au contraire....but because of 'how I thought' about
>treating patients and having a practice. They've found that the best
>physicians are not the 'A' students. 'C' students in the real world make
>better physicians(according to you and me the patient) than 'A'
>students...because of their better communication skills, patient rapport,
>yada yada.
> These discussion groups spend, it seems, 95+% of the time on system
>methodology and 5-% of the time on the psychological manifestations of
>trading. To my way of thinking it should in an ideal world be the
opposite.
>I'm sure many 'A's would be given out on these discussion groups for the
>knowledge of methods and systems. Yes, I love to 'tweak' systems to death
>like everyone else. But is it really that last 'tweak' that is going to
>make a difference in our trading performance...probably not. If we were
>able to think about and perceive that potential trade in a different way,
>would that make a difference....probably much more so. It's easier though,
>to 'discuss' things that are 'outside' of us, ie systems, methods...much
>easier say than asking ourselves to think about and to internally change
how
>we think, how we perceive our environment....we all squirm a bit over
>'broadening' our own envelopes.....but which in the end, ultimately, will
>make the largest bottom line difference in our trading? You can change how
>you think and what you think about...you just need to find the right
content
>and source(and they're out there) and then implement it.
>
>Jim
>
>
> >Of course, we are all individuals so I can't speak for you but you are
>looking to be trained/taught something that >resides inside of you. It is
a
>product of your upbringing. Your values. Your life's experiences. For
>someone else with >different ideas brought on by their own experiences
would
>be most difficult to pass on to you, with yours. Even the >trading itself
>is, in part, a product of your personality and what works for me, may well
>not work for you since our >personalities and life's experiences differ.
>Only you can add to your emotional account since only you have the assets
> >and baggage which must be a part of any change in that area. In my
>opinion, you would be wasting your time and >money to attempt to bring in
>alien concepts to your landscape. I do wish you well in your quest.
>
> >>Bob
>
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