Rognvald said:
Socrates
I have been reading through my notes on the thread and wonder of you would care to expand on this quote from your #
559
"but I persisted in cultivating certain mental habits, and slowly I began to take more control of the problems that had previously beset me that I found insurmountable and to begin to find solutions."
What sort of mental habits please
It is best to deal with this the other way round.
In order to cultivate the mental habits required for consistently successful trading,
the ordinary mental habits we acquire during the course of ordinary daily life are
the ones we must dispense with for the purpose of trading. As I have touched on
before, these mental habits work in ordinary life but not for the purpose of trading.
This does not mean we have to abandon all our habits in favour of new habits.
What we must do is to create new habits for this purpose, only and for nothing else.
These new habits are an integral part of a trader's mindset. The mindset cannot be
put in place in the absence of the trading persona because , if instead of doing so,
they are put in place in the ordinary persona, as a consequence of the inabilities
of the ordinary persona then these habits will become corrupted or altered or
misused or destroyed.
The mission "is" to acquire new habits that contravene all the rule sets that the ordinary persona has acquired as a result of life experiences.For this reason a new persona has to be created first to prevent new habits being corrupted and rendered unreliable or useless. therefore what is required is that this is dealt with in its correct sequential priority.
The persona has to be created first.This persona is taught new habits. These new habits become part of the tools the new persona uses via its mindset. Now you can see that because the new persona and the original are segregated the new habits are ring fenced and prevented from being corrupted.
Therefore discussion on habits is premature as we do not want them becoming damaged before they can be used. So you are not to talk of new habits because of the risks I describe above.
This is why traders try hard to acquire new habits and fail to stick to them. The persona steps in and tries to protect life and ruins the excercise, leaving the trader baffled and frustrated and unable to solve it , and what is worse not knowing why it cannot be solved.
This leads to serial trading which is dire.