thread: Psychology is nothing

If you give 10 people the exact same trading platform, and yet they all get different results, why is this?

Give 10 cooks exactly the same recipe, will most of the dishes taste the same?

A quote from blueruby's additional thread:

Looking in the mirror means, to me, to establish principles that'll keep my personality from getting in my way. Only by recognizing my negative aspects could I fully shield against their causing me to create the same mistakes over and over during times of stress.

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.

The simple fact that good recipes would solve the guy's problem is just not correct. I just watched a show the other night along with the dude still would not listen. He eventually blew up, made a complete jackass of himselfand only then did he realize that he had been wrong. And that is all plogical. After awhile, you quit in failure, or admit that you let emotions take over and cloud the conclusion (or plan) that you know you should've followed... especially if this plan was tested and reveals profitability. It is 1 thing to be dumb. It is a whole'nuther issue of not following your plan as you've got fear, or greed, or whatever issues... that is plogical.

You are totally wrong. I base all my life decisions on Jerry Springer show. I have learned so much from it....

In trading, a trader stinks account following account because he can't follow his plan and he believes exactly as you do -- that it can't be his head... once more -- if I give ten traders exactly the same plan and tell them to execute it precisely, they will all get different results. The deficiency of these failing to stick to the plan has nothing to do with the absence of understanding how to trade. It is because they have poor habits and begin using their head thinking they know where the market is moving next... and they do not...

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..

When it was as easy as you think it is out of a know-how perspective, then everybody would be successful, because trading is not hard; You have a chart, and a buy and sell button.

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.

Is it possible for somebody to have a system that is correct 90 percent of their time and still not having the ability to profit from the market?

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.

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You're Completely wrong. I base all of my life choices on Jerry Springer show. I have learned so much from it....



It is probably because your system isn't totally defined. Look at any FF thread onto a system. The initial 20 posts are ooooohhh! ahhhhh! Thanks! You're a guru! Then the questions begin - uhhhh, are you really likely to take this particular setup? Answer: No, because of this thing over here (that wasn't in the original system description). Then later, 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. Then the OP comes in and says, not always, if yada yada yada Then why didn't this setup work, I just lost ___ pips. OP: Oh, I don't trade during the asian 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 clever, dedied, determined, motivated people try for a long time and neglect, no other sport where so many give up.

The market is counter-intuitive. It goes against all human character. It's no motive, no mercy, no feeling - like the terminator!

That is why understanding how to handle whatever comes up is the only way to be successful. Then there's no thought on the matter, you just do your work.

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.

A quote from another thread:

Looking in the mirror means, to me personally, to set rules which will keep my character from getting in my way. By recognizing my facets can I fully guard against their inducing me to create the very same mistakes over and over.


So let me get this straight... the negative areas of your character has absolutely nothing to do with the plogical facets of your head?

Perhaps some film quotes can help you:

When you can learn to balance a tackhammer on your head, you may head off your foes with a balanced attack.

Learn to master your anger, or anger is going to become your master.

No? That didn't help? I give up.

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.

Congratulations. Does this mean you are in love?

Kinda. This whole thread is kinda doing 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

Finally I chose for a mentor, I got him mentoring me, and in hardly any time I had a system that operates. That's it. It was so incredibly easy that it still makes me wonder today.

His strategy is completely different from what I've ever seen and tried forums, books, seminars. Perhaps it's right, I was only blessed to discover this mentor using this system that fits me. I really don't care. What I really care is that for sure it is not in my head, it is not within my self-esteem. It's in the Computer System!

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

Kiwi, I really don't know whether you're referring to me when you say that I am ignoring the possibility I am an idiot, or that I do not have any real trading expertise....

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