Making mistake is the worse thing.
Other traders also look ashamed and humiliated with their stops and loses. If you want to trade you can count on feelings of humiliation and shame because you are making mistakes. Every losing trade is mistake in your value system and because of them you feel a shame. Trading is shameful profession. Maybe you will be so ashamed and humiliated with losers bigger and numerous than your gains and you will just lose. If you want to trade just accept it all. Be ashamed, be humiliated, just feel it. Accept those feeling and trade, take stops and lose.
It's easier to accept feelings than to change value system that you are raised in that mistakes are bad. Yes they are bad, but the worse thing that can happen to you with making mistakes, losing are those two feelings. Just feel them, accept them and move on.
Friday, April 13, 2007
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2 comments:
Hey, you should check out the book "The Disciplined Trader" by a guy by the name of Douglas. He talks a lot about trading and "value system" conflicts.
Thing is, I found his writing style kind of awkward so I didn't love the book. Still you may be interested if you can pick it up inexpensively.
-DT
Hi Dinosaur, thanks for the comment. I have that book for a few years now. My learning curve is a little bit longer and it's hard to translate good ideas from books to reality. I share your view on his writing style although it's one of the best trading books I ever read.
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