Give 10 cooks exactly the same recipe, will most of the dishes taste the same?
A quote from blueruby's additional thread:
So let me get this straight... the negative aspects of your personality has nothing to do with all the plogical aspects of your mind?
Perhaps some film quotes will help you:
When you can learn how to balance a tackhammer on your mind, you will head off your foes with a balanced attack.
Learn how to master your rage, or rage is going to be your master.
No? That didn't help? I give up.
You are totally wrong. I base all my life decisions on Jerry Springer show. I have learned so much from it....
It is probably because your system is not totally defined. Look onto a system at any FF thread. The initial 20 posts are ooooohhh! ahhhhh! Thanks, dude! You are a guru! Then the questions begin - uhhhh, are you really going to take this setup? Answer: No, because of this thing over here (that wasn't from the initial system description). Then after, Hey, is this setup a good one? Then a second poster comes in and says, no, because the xyz indior must peak and THEN come below the dotted line. Subsequently the OP comes in and states, not always, if yada yada yada Then why did not this setup function, I just dropped ___ pips. OP: Oh, I don't trade throughout the oriental session... etc..
Where did I use the phrase easy? Trading is damn near impossible, my friend! There is not any other sport where so many smart, dedied, determined, motivated people try for years and fail, no other sport where many give up.
The market is counter-intuitive. It goes against most of human character. It's no motive, no mercy, no feeling - like the terminator!
That is why understanding how to handle whatever comes up is your only way to be successful. Then there's no idea on the matter, you just do your job.
Of course it is. There are many things that can make a 90% correct system shed. But I don't think you really require a 90% system to make a profit a day, each day of this week. All you need to do is to take part.
Market has a management everyday. Develop a method that keeps you in the market all the time. Make certain it's neither too sensitive nor too lagging. Then just place a trade based on its rules. When it's profitable, call it a day. Differently double your lot size on your next trade. Use your own judgement to determine when to depart, this is the hardest part. Your profit is usually small, but again and again the market will reward you beyond your greatest expectation.
This really is a high-pressure egy. Once your lot size goes double digits your mind begin to 2nd-guess you. Sometimes your greed for 1 more pips will turn a very profitable position into a losing one. This type of supports the idea that plogy is the key in trading success, but knowing what to do under each trading scenario will significantly lessen your stress.
Dude, rock on with your terminator self then... if you're so confident that plogy has nothing to do with trading, then stone. It is your capital, not mine.
Best of luck to you.
You're into films and TV, are not you? I think I see the issue. I hate to break it to you, perhaps your psychologist is afraid you are not prepared for it, but here goes: life is not like TV and the films.
That's a good quote you've pulled up. I really don't know where it came from or how long ago I posted it, or what I was thinking at the time, or what p book I'd just read. You must have combed everything I've ever posted to discover that. Congratulations. Does this mean you are in love?
But it's a pretty good article. Establishing rules is kinda like setting a method to follow up, irrespective of any considerations that are psychological, isn't it?
Clearly I thought at the time it was the strain, or my character causing the error. The truth is I ran into something I didn't know how to manage, again and again, and there was anxiety. There was emotion. That's what I've been saying all along.
Any market condition which I do not know how to manage, I'll screw up over and over. It is not fun if you don't know what to do, there's stress. But, take the strain note, and the error, are because of insufficient knowledge. As it comes up once you understand how to deal with that item, you just manage it.
I think that the equilibrium between mind, money and strategy probably differs from individual to individual. Each one of us has a different personality, different expectations and intentions, different tolerance for risk, a different approach to trading, and so forth. So making announcements like plogy is nothing or plogy is what probably reflects one#8217;s own personal approach, and experience, rather than a verifiable view.
I had a (live) $10k account open for around 3 weeks and dropped around 9% of it, after about 90 trades. I risked a maximum of 1% on every position, and at the level of risk had no trouble making disciplined entries and exits, simply by placing the depart orders and walking off. When I#8217;d traded , sought revenge for my losses, or varied the VAR erratically, I anticipate that I could easily have blown the whole account. At the end of the afternoon, the principal reason I dropped more than I won was because I couldn#8217;t receive the time of these entries and exits accurate enough, often enough. At least, rightly or wrongly, that's my analysis of my own experience.
I feel there are steps that you can take to reduce the effect of plogy from the equation. One obvious one is to perform at a level of bets that you feels comfortable with, i.e. with money that one can easily afford to lose. If I'd been risking (for instance ) $1,000 on each transaction instead of $100, I have no doubt that maintaining discipline would have been way more difficult.
David
Please share to ensure this forum might become profitable as a whole, too.
No, seriously, I wouldn't mind a backup strategy myself and considering it is different than the rest curiousity alone makes me want to know
Ubeee, I can really relate to everything you are saying here, and if this makes me an idiot also, then I am pleased to be in the business of a person who places with such clarity and sense.
I want time to consider what you've said here fully, but I guess the primary reason I neglected was a shortage of knowledge and expertise.
Thanks for your insight.
David