How To Think Correctly

[Splitlink]

it means that through the use of reason you have accomplished true freedom. Every time you are faced with an option to act, you choose to act or not, and thus either enjoy the benefits or suffer the consequences of your decision to act or not. That means you are truly free.

I'm not sure that one's true feelings come into it when accepting responsibility for one's actions is concerned, although I enjoyed your post very much. Regardless of what the other posters have said i.e. that we can always blame the broker, or whoever, I cannot see how any online trader can expect anyone else to assume responsibility for his actions, apart from himself. He is the one who makes the final decision and, even if he is accepting the advice of someone on T2W, he is the one paying the piper.

Perhaps that is the way my own character has been formed, I don't know, but, personally, if I have to take responsibility for a loss- which I have to do, there being no one else- I do not feel liberated by it.

Certainly, I have more sense than to blame Socrates, who never accepts the blame for anything

Split

 

[SOCRATES]

I'm not sure that one's true feelings come into it when accepting responsibility for one's actions is concerned, although I enjoyed your post very much. Regardless of what the other posters have said i.e. that we can always blame the broker, or whoever, I cannot see how any online trader can expect anyone else to assume responsibility for his actions, apart from himself. He is the one who makes the final decision and, even if he is accepting the advice of someone on T2W, he is the one paying the piper.

Perhaps that is the way my own character has been formed, I don't know, but, personally, if I have to take responsibility for a loss- which I have to do, there being no one else- I do not feel liberated by it.

Certainly, I have more sense than to blame Socrates, who never accepts the blame for anything

Split

/

 

[CYOF]

"By doubting we come to inquiry; and through inquiry we PERCIEVE truth"

Peter Aberlard
1079 - 1142

 

[yacarob1]

There is no doubt that trading for a number of years changes the way that you think and imposes a disciplinary framework on one's thought processes.

I used to trade for an employer and now I trade for myself and there is even a huge difference in the way I think now and how I used to think when enslaved to an employer.

This obviously relates to how one feels about trading with / risking other people's money as opposed to one's own dosh.

 

[charliechan]

will any of this carry on improve anyones trading?

i doubt it.

 

[yacarob1]

will any of this carry on improve anyones trading?

i doubt it.

What carry on exactly Channie ?

 

[Splitlink]

will any of this carry on improve anyones trading?

i doubt it.

Not necessarily, no. It's just a discussion on the acceptation of one's responsibilities for the consequences of its outcome, for good or bad.

Socrates says the one must accept the responsibiity for one's actions.
I agree with him but, at the same time, I do not understand how anyone can fail to do so if he believes that he is acting correctly.

Split

 

[SOCRATES]

Not necessarily, no. It's just a discussion on the acceptation of one's responsibilities for the consequences of its outcome, for good or bad.

Socrates says the one must accept the responsibiity for one's actions.
I agree with him but, at the same time, I do not understand how anyone can fail to do so if he believes that he is acting correctly.

Split

Yes, this post merits a reply...

In trading, which is a cruel relentless environment in which there are only two possible outcomes there is no room for belief of any sort.

The luxury of belief can be reserved for religion, political ideology and suchlike.

Belief is misplaced if it is allowed to enter the arena of trading.

Therefore for example getting on your knees and praying for a favourable outcome does not apply for instance. Nor does hoping or wishing either, so you can forget all that.

What I have just said may upset some people who cling to false premises.

These false premises are very dangerous. They lead down unsuitable routes in trading.

But there are people who will persist in promoting, encouraging and adopting them.

What does apply is somethng very different.

What does apply is reality.

Stark, uncomfortable, unfriendly, impersonal, cold reality.

This for a lot of people is unpleasant, unacceptable, avoidable, discomforting, upsetting, rejectionable, ignoreable, and seemingly irrelevant.

The acceptance of reality hinges on personal responsibility and vice versa.

Personal responsibility includes acceptance, and the abiltiy to confront and deal with outcomes within a framework of reality and not belief.

 

[Atilla]

Gambling - Trading - Addiction

Not necessarily, no. It's just a discussion on the acceptation of one's responsibilities for the consequences of its outcome, for good or bad.

Socrates says the one must accept the responsibiity for one's actions.
I agree with him but, at the same time, I do not understand how anyone can fail to do so if he believes that he is acting correctly.

Split

Perception to risk and action taken can be is a risk / gamble.

Some people who do play the markets lose more than they are prepared to may be addicted to placing a bet or buying shares - being in the market. Risking ever more money to recoup the initial loss in the hope of more gain. Many people add more money to a losing trade in the hope of a turn one way or other?

Such people lose the connection between responsible and become irresponsible. Irrational. Hence, an arguement could be made to say these people do not have control and hence shouldn't be blamed.

Similar to depression it is a sick mind that needs attention to be rectified. Would somebody shout at , scold and blame somebody who already was depressed? What would be the reaction of such a response?

 

[SOCRATES]

Perception to risk and action taken can be is a risk / gamble.

Yes, but only to those who do not fully comprehend what it is they are in and are doing.

Some people who do play the markets lose more than they are prepared to may be addicted to placing a bet or buying shares - being in the market. Risking ever more money to recoup the initial loss in the hope of more gain. Many people add more money to a losing trade in the hope of a turn one way or other?

The key word is "play".
I often hear housevives using this word at coffee mornings across the road when they are discussing what they or their husbands percieve (incorrectly) to be the case.

Trading is not about playing either. It is about executing decisions based on near certainties as a consequence of posessing relevant knowledge of what's what and not what may or may not fancifully be percieved to be.

Such people lose the connection between responsible and become irresponsible. Irrational. Hence, an arguement could be made to say these people do not have control and hence shouldn't be blamed.

Then they shouldn't even think of trading as an activity should they now ?

Similar to depression it is a sick mind that needs attention to be rectified. Would somebody shout at , scold and blame somebody who already was depressed? What would be the reaction of such a response?

No .....people who are mentally sick have to be treated with care., for their own sakes as well as everybody elses'.

:idea:

 

[Splitlink]

The acceptance of reality hinges on personal responsibility and vice versa.

Personal responsibility includes acceptance, and the abiltiy to confront and deal with outcomes within a framework of reality and not belief.

I agree with that. "Believes" might be the wrong verb for me to use and I am inclined to use it often whereas I know, from previous posts, that you have always tried to remove it from the traders' vocabulary

Nevertheless, a trader must have some indication , be it an idea , signal, or what have you, that he is making the correct move, otherwise he would be imprudent to make it. If "believes" is the wrong verb to use- what is the correct one? "Expects", pehaps?

So, if a trader expects that his trade is going to make money, or if he expects that his trading style will produce more winners than losers and he is either right or wrong, he must take responsibility for making that decision.

Only a person who falls into the category that Atilla describes can be excepted. The rest of us know that we are to blame, don't we?

Split

 

[SOCRATES]

I agree with that. "Believes" might be the wrong verb for me to use and I am inclined to use it often whereas I know, from previous posts, that you have always tried to remove it from the traders' vocabulary

Nevertheless, a trader must have some indication , be it an idea , signal, or what have you, that he is making the correct move, otherwise he would be imprudent to make it. If "believes" is the wrong verb to use- what is the correct one? "Expects", pehaps?

So, if a trader expects that his trade is going to make money, or if he expects that his trading style will produce more winners than losers and he is either right or wrong, he must take responsibility for making that decision.

Only a person who falls into the category that Atilla describes can be excepted. The rest of us know that we are to blame, don't we?

Split

Correct.

Yes expectancy is the key and not belief.

The accuracy of this expectancy increases with knowledge and practice.

Therefore to expect with an overwhelming degree of certainty is the ideal, and to have it verified consistently is the proof you need.

 

[darkwanderer]

The majority of people who try thier hand at trading either do not want to think about it correctly, by thier own choice, or are incapable of thinking about it correctly. I can tell you this though,...trading doesn't matter, that's why the majority fail. You will only succeed if it really matters to you. Does trading really matter to you? Remeber, you don't have to trade.

 

[wasp]

.........Remember, you don't have to trade.

What! and get a 'real' job! No thanks...

 

[darkwanderer]

 

[SOCRATES]

The majority of people who try thier hand at trading either do not want to think about it correctly, by thier own choice, or are incapable of thinking about it correctly. I can tell you this though,...trading doesn't matter, that's why the majority fail. You will only succeed if it really matters to you. Does trading really matter to you? Remeber, you don't have to trade.

That's right.

They think they can play about with it and then suddenly the fright machine appears...

 

[darkwanderer]

That's right.

They think they can play about with it and then suddenly the fright machine appears...

It's funny how people use the terms 'play' and 'game' a lot on these boards. Then wonder why they never get anywhere?

P.S. I wasn't refering to your quote, SOCRATES.

 

[SOCRATES]

It's funny how people use the terms 'play' and 'game' a lot on these boards. Then wonder why they never get anywhere?

P.S. I wasn't refering to your quote, SOCRATES.

Yes of course, I accept that.

For those who are not yet aware, this Fright Machine has very sharp teeth and the bite is very severe,...... sometimes deadly.

Therefore it is not wise to play about with conditions in which it may make an appearance.

It has a habit of appearing suddenly when least expected like a frenzied shark, without warning.

 

[CYOF]

will any of this carry on improve anyones trading?

i doubt it.

This is where I tend to disagree with the opinion of most traders - and the above post is indicative of how the majority may think.

It may well seem to most that this "carry on" is a total waste of time - and for some it will be just that.

Why is that so?

The reasons may be many, but most readers will have no interest in the why, they will be more interested in the "what" - the "what is in it for me".

The only way to find out if there is anything "in it for me" is to ASK questions.

If one is afraid to ask, then one may never achieve any real understanding of what it is they are trying to understand!

Now, the big question is, who knows what, and more importantly, who knows what in relation to what I want to know?

Again, the only way to find out is to ASK!

This is when the truth comes to the surface and one quickly learns whether one is wasting ones time or not.

After all, trading is all about results, and results do not just mean trading profits - in fact, trading profits are the final result in ones journey to becoming a consistent profitable trader.

 

[Splitlink]

After all, trading is all about results, and results do not just mean trading profits - in fact, trading profits are the final result in ones journey to becoming a consistent profitable trader.

Agreed. It may not matter in a financial sense, there may be other reasons . If it is not the former then the trader must remember that the problem will not solve itself by throwing money at it, or it could, easily, become one.

Those who are, or have been, in a successful career probably want to succeed in trading, too. They are the ones who may find themselves too heavily involved in it, when they could be out walking the dog.

Trading, to me, is a puzzle that needs a solution and is good for the mental process, as long as it does not become an obsession.. It keeps the brain working, much better mental exercise than telly

Split