Whether or not you expect an outcome isn't going to change what the market can, and will, do.
It is difficult for me to observe intermediate traders being dominated by their 'conviction' or unnecessary opinions on a ticker, unwilling to stop out because 'it's being manipulated'.
It is difficult for me to observe intermediate traders being dominated by their 'conviction' or unnecessary opinions on a ticker, unwilling to stop out because 'it's being manipulated'.
The more you attach yourself to outcome, the more you are prone to erroneous trading.
My outcomes are all a function of asymmetry, if I'm wrong, then fine & if I'm right, we're banking.
It really has nothing to do w/ what I think the story or thesis is, price says it all.
My outcomes are all a function of asymmetry, if I'm wrong, then fine & if I'm right, we're banking.
It really has nothing to do w/ what I think the story or thesis is, price says it all.
Another thing is that your 'psychology' often becomes an excuse for lack of systems.
I've gotten this DM much more frequently as of late,
"I knew this ticker was being rigged so I held on and lost my entire month"
I reply, "You should have a max loss if you don't already"
...
I've gotten this DM much more frequently as of late,
"I knew this ticker was being rigged so I held on and lost my entire month"
I reply, "You should have a max loss if you don't already"
...
Them: "So I think it's because I have an addictive personality and I need to work on that"
Me: "So you didn't have a max loss? I didn't see you reply with max or loss."
"No... but I have a gambling issue and can't accept losers that wipe out my 95% win rate"
...
Me: "So you didn't have a max loss? I didn't see you reply with max or loss."
"No... but I have a gambling issue and can't accept losers that wipe out my 95% win rate"
...
Then I just kind of have to say the hard truth and leave it at that, basically STFU and put a max loss.
I feel like I am a contrarian in thinking that you can be successful with many psychological barriers in place.
Those can be ironed out in time...
I feel like I am a contrarian in thinking that you can be successful with many psychological barriers in place.
Those can be ironed out in time...
Systems and systematic thinking can really help combat the mental strain and emotional warfare we wage each day in the market.
I think that mindset towards WHY systems are inherently beneficial and can be relied upon over impulse is more important.
...
I think that mindset towards WHY systems are inherently beneficial and can be relied upon over impulse is more important.
...
It's a topic that can be really elaborated upon, much more than a few tweets, but I challenge you to think differently perhaps.
I can assure you that without all of the systems that I have in place, I would also be a pretty shitty trader.
Even with them I can be terrible...
I can assure you that without all of the systems that I have in place, I would also be a pretty shitty trader.
Even with them I can be terrible...
The fact is that I have a stupidly low win rate, I have a horrible penchant for chasing, FOMO, not observing max losses, not getting enough sleep, sometimes awful diet, I didn't exercise regularly before this year, can't sit still with meditation etc... list goes on and on...
You can become an absolute victim of your own desperate need to get ALL of your ducks in a row or to have your incredible conviction, but, in the end, I believe that this process is a simpler path to walk:
Create a plan of if/then, follow it to a tee, analyze the results & fix..
Create a plan of if/then, follow it to a tee, analyze the results & fix..
At least you will have something to measure yourself by, you can say for certain that you've not lived up to it's potential and you'll understand what the outcome would be in real-time and in post-analysis.
The assumptions you make can be tested and you can come prepared...
The assumptions you make can be tested and you can come prepared...
You can be inspired by your own creativity and problem solving skills, even if they are garbage you will inevitably come across something that works...
Even if you literally generated a signal that loses 90% of the time, you now have a 90% signal w/ the opposing bias, congrats!
Even if you literally generated a signal that loses 90% of the time, you now have a 90% signal w/ the opposing bias, congrats!
All in all, you get the full rant of a man who's not been involved with the mkt for about a week now.
It's incredibly frustrating to see misguidance... these msgs always read like word-for-word/verbatim clusterfks of ideas which simply do not accommodate ease of execution.
/End
It's incredibly frustrating to see misguidance... these msgs always read like word-for-word/verbatim clusterfks of ideas which simply do not accommodate ease of execution.
/End
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