my journal 3

Besides silver and gold, there seems to be a good opportunity on Corn for the entire month of August and even further. It's at 450. Considering you can only lose 5000 dollars every 100 points, even if it goes to zero, it's a pretty safe trade. You can lose 22500 dollars on it, all right, but it most likely won't go below 400. Look at the past 40 years to believe it...

from:
Corn Futures Long-Term Commodity Chart

Snap1.jpg

So you could lose about 2500 dollars to the downside and make about 10 thousand dollars on the upside. If it doesn't work out and I have to roll over, I'll add a second contract.
 
trading is a treatment for perfectionism

Ultimately trading tests your balance and promotes a rational balance, a non-emotional one.

In other words, if you come to trading with an ego, your ego gets humbled so many times, that if you survive, you now have a different ego, or none at all. You have no pride and you have no perfectionism. At least that is my experience.

You can't view it as writing, for example, where you rate yourself and say "I am very proud of this book I wrote". In trading, even a well-made trade might not get rewarded by the random element of the markets, and you might end up losing money. And it's almost impossible to feel proud of a well-planned trade that ended up in a loss. So, you either learn to be proud of trades, regardless of whether they ended up in wins or losses, which is quite hard, or, much more easily, you learn to ignore your ego, your pride, and your perfectionism.

This is what I am practicing in my daily life as well, when something doesn't go as planned and this would have usually hurt my pride and frustrated my perfectionism. But now I say "screw my pride and my perfectionism".

Perfectionism (psychology) - Wikipedia, the free encyclopedia:
Perfectionism, in psychology, is a personality trait characterized by a person's striving for flawlessness and setting excessively high performance standards, accompanied by overly critical self-evaluations and concerns regarding others' evaluations.
Click to expand...
Yep, that describes my madness perfectly.
 
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I've updated my index.html (see attachment below).

There's a mosquito in my room. Normally it'd drive me crazy until I'd kill it, but I'll approach it as a test of my self-control, lack of harmful perfectionism, lack of being a control freak, and similar - all features that hurt my trading. Of course if I'll see it on my leg, I'll kill it, because they can live up to several weeks, so I don't want to be bitten on a daily basis.

But this is the difference between looking after your interest and being a compulsive perfectionist: one thing is to work in your favor, and another thing is to obsess about those little details you cannot change, or mistakes that are already behind you, and that you waste time thinking about.
 

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awesome

Gold, the Titanic & Lifeboats - Why it's Important to Own Physical Gold - YouTube

we're really like people on the titanic and gold is like a lifeboat, for those who can hide it somewhere I guess

I really feel like I am part of history here. This particularly when I see how bloomberg, reuters, cnbc and all the other mainstream media ignored today's and the previous (2 weeks ago) rise by +5% of silver. It really takes a "conspiracy theorist" like me to realize that this is part of a plan.

As I wrote here... and here...
http://www.trade2win.com/boards/trading-journals/140032-my-journal-3-post2174022.html
http://www.trade2win.com/boards/trading-journals/140032-my-journal-3-post2172616.html

...these journalists (cfr. examples that can be seen at links above) really seem to have received precise instructions to put down gold. It's as if they had been told "there's not enough gold for everyone, so we have to tell the sheeple that gold is not a good investment".

This is as if on the Titanic, while preparing to get on the lifeboats, the crew told passengers that it would not sink. I think we're on a similar situation. The thing is that even people like my dad, who has held quite high positions in politics, has no idea what is going on. Or maybe he's just been lying to me all this time. However, 911 and similar witness are a clear sign of the corruption of the US. And yet most people, even a majority of those trading the markets, believe lies about 911 and the rest of what the corrupt US government has been doing all these years.

So of course they are just as likely to believe the financial lies and not understand what is going on financially.

I guess you either go with technical analysis alone, or you have to first of all, study all the major conspiracy theories (which are conspiracy facts), and then you realize the mainstream media lies and has placed you in the matrix. Then you can go on to study the markets, and be immune to all this lying.

Let me repeat it one more time. CNBC journalists seeing silver at +5% and not mentioning it or saying in all other occasions that it's a market to stay away from, are the same as political journalists who ignore 911 truth or mention it by expressing contempt for the related "conspiracy theory".

...

That's why it's been so useful to delve into conspiracy theories (facts). I studied oil and realized peak oil, and the suppressed inventions that could replace it, and the assassinated scientists.

Then I studied natural gas and realized about shale gas, fracking and so on.

Then on to gold and silver, and you find out about gold leasing, fractional reserve gold scam, germany demanding its gold and being told "wait 7 years", comex manipulation and all that.

Wherever you look in finance or politics, you find lies and conspiracies. In the meanwhile the television tells the opposite.

That's why you first have to be a "conspiracy theorist" and then a trader. Or you just do technical analysis, and you're fine, and spare yourself a lot of work. But I am doing it out of curiosity.

Detroit is Bankrupt, Collapse is Inevitable, Fukushima is Leaking - Geneva Business Insider - YouTube
 
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Power Trading Radio Video Archives | Online Trading Academy | Pricing Things in Gold with Charles Vollum
FRIDAY, AUGUST 9, 2013
Pricing Things in Gold with Charles Vollum
Having a common denominator is a key factor in tracking asset values over time. Charles Vollum, owner of PricedInGold.com joins Merlin and John to talk about his website which is devoted to tracking a wide variety of assets using gold as the denominator. From housing prices to college education, the trio take a look at some charts which really drive home the erosion of our global purchasing power with the dollar.
Click to expand...
 
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Very good reasoning on monetary policy by Anthony Migchels:
Who is Ed Griffin? | Real Currencies

I am not a big reader, but in this case, since it's not a book, he managed to make me think about monetary policy a little bit. What are the advantages and disadvantages of gold standard vs. fiat currency? Is it more dangerous for the people if the bankers own all the gold, or if they have the power to print money? What other alternatives are there?

It is much more tiring than thinking about technical analysis for sure.

I don't think any of my colleagues has any understanding about these topics, of monetary policy and such, despite their working in a bank.

More related reasoning on this video:

Ian McAvity: Gold is pouring from west to east | McAlvany Commentary - YouTube

but best part is not on monetary policy, but on gold, minutes 26 to 29

Gold reserve - Wikipedia, the free encyclopedia
 
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You know what's really interesting? I was thinking, while buying chocolates (some times you gotta break the rules, and today I am celebrating), that the first investment is your health, and in particular: 1) your sleep (getting at least 8 hours every night) and 2) your diet (raw vegan diet, except when you decide to break the rules). Then, third, comes your posture while walking and sitting. Of course also preserving the rest of your health is as important, such as your eyesight. But sleep and diet are really by far the most important investment there is.

It makes no sense to amass gold and hide it in the ground, if you are not first sticking gold into your body: macronutrients, vitamins and minerals you need, every day.

Before you do all these things, it doesn't even make sense to worry about trading or preserving your wealth. Your first wealth to preserve is your health.

Right, and after you've taken care of physical health, you have to worry about mental health, which is as follows for me:
1) no counter-productive perfectionism, which makes you obsess about getting everything perfect - whether in life or trading
2) no pride, no ego: don't take things personally, whether in life or in trading.
 
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