Joe Ross
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This question was sent to me from one of our students: “Hey Joe! I’ve had so many bad experiences in the markets that I know longer am sure of exactly where I fit in. Can you help me get some perspective?”
I’ll certainly give it a try. Your problem is not all that uncommon.
Our past experience is a factor coloring the way we see things. We get an electric shock, and we decide never again to put a hairpin into an electrical outlet. Or, when we kiss our mate and receive a kiss back, we learn that kissing that person produces pleasure, so we enjoy doing it again! Likewise, our experience with the markets, colors our perception, and can influence the way we approach them.
How do you view the financial markets? Even more important, how do you see your role in the market? Do you view the market as a dangerous place full of thieves out to take your money? Or do you view it as a place where you can make and take profits? Each time you sit down to trade do you somehow wish you were doing something else? Or are you generally eager to jump into your charts looking for opportunity? Does digging into the markets seem like boring work, or is it exciting for you to gather new information, knowledge that will add to your trading acumen and increase your profitability?
No matter what how you see the markets, whether positive or negative, your view will have a powerful influence on your actions! So it's crucial that you are very much aware of just what your perception is, and which past experiences are playing a major role in the way your perceive price action. You should take time to honestly determine your view of the markets you trade, and assess your feelings towards them. Where exactly do you fit in? Can you envision yourself trading profitably? If so, what is your plan for doing so?
I’ll certainly give it a try. Your problem is not all that uncommon.
Our past experience is a factor coloring the way we see things. We get an electric shock, and we decide never again to put a hairpin into an electrical outlet. Or, when we kiss our mate and receive a kiss back, we learn that kissing that person produces pleasure, so we enjoy doing it again! Likewise, our experience with the markets, colors our perception, and can influence the way we approach them.
How do you view the financial markets? Even more important, how do you see your role in the market? Do you view the market as a dangerous place full of thieves out to take your money? Or do you view it as a place where you can make and take profits? Each time you sit down to trade do you somehow wish you were doing something else? Or are you generally eager to jump into your charts looking for opportunity? Does digging into the markets seem like boring work, or is it exciting for you to gather new information, knowledge that will add to your trading acumen and increase your profitability?
No matter what how you see the markets, whether positive or negative, your view will have a powerful influence on your actions! So it's crucial that you are very much aware of just what your perception is, and which past experiences are playing a major role in the way your perceive price action. You should take time to honestly determine your view of the markets you trade, and assess your feelings towards them. Where exactly do you fit in? Can you envision yourself trading profitably? If so, what is your plan for doing so?
