Newport said:Hi
I can believe it would help not to be distracted by nagging doubts about whether your system is going to give you winning trades and help you apply it
anyone got any thoughts on this?
cheers
Mark
humans= creatures with emotion
emotional trading= uncontrolably entering/exiting with conscious thought/actions being driven by sub conscious demands and ego's that need to be satisfied. (hence thoughts like, I new I was doing the wrong thing but still did or didnt do it).
"everybody gets what they want in life" right? your ego will try its dammed hardest that it will be first in the que to be fed and satisfy its deeper brother within.
to have faith is "To be believe in something for which there is no evidence"
If you have tested a system with results that on paper have proven potentially viable of past results etc. and you hold the belief that market action tends to repeat itself, then you have evidence, so perhaps you do not need to apply faith to your system.
If you need to apply "faith" in yourself then stop. The point is to recognise and know and get to the point "That you will act in your best interest at all times" (Douglas) people being human do not always do that. Back to emotions, ego's beliefs. Douglas is attempting for you to have a look at what has shaped your thinking and beliefs in order for you to see that and to give you control of yourself to deliver on the objectives and sometimes that may mean acting against your previously held beliefs.
now nagging thoughts about future winners ??
do you mean hmmmm what if they dont happen ? how would that make you feel and why?
ditch it ? need one with a higher win rate to validate your sense of self worth as a person . we need to be right all the time to make money ?
As Douglas says and wants you to KNOW "My trading losses does not diminish me as a person" ?(memory quote) Naturally with the usual upbringing to be wrong 60 times outta 100 is crap and society will let you know quite quickly, from birth in fact ,hence we avoid being wrong and seek to be right. You will receive plenty of pats on the back and nods of approval,in short REWARDED for being RIGHT. Some people do wrong for attention etc.... another area of discussion.
In the markets not letting go of I'm wrong quickly enough will make you more wrong. people may hold a losing(market wrong) position to turn the market wrong into a society right, or re enter to get back the 2 market wrongs into a Bigger society right.
Market Society differs from our Structured Society wherein its ok, or right to be wrong. Acknowledging that as quickly as possible will help. What set of beliefs do you need? for the market? Society or Market beliefs? New beliefs to be learned ? how long does that take? eeeeekkkk you can go deeper and deeper but i sense im rambling and its getting late.
anyway so wheres the problem? Its YOU. Thats your edge and your potential downfall.
you will ?follow the system right, trading loses are to be expected and must so be accepted so?
you wont truly know until your doing it, going through it, then you may start to question just how it is you behave the way you do or dont.
Takes time be easy on yourself, find out for yourself thats the only way with subjective opinion, enjoy life..
cocoa time now
then theres "attachment" hmmmm......
jd