What is wrong with me, can't stop bleeding
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If you consider that the greatest minds and the largest funds are on this 'arena' to compete with you, it takes more than brains and technical skills in order to succeed.
You need a very solid strategy, tons of patience and persistence and nerves of steel in order to avoid the 'traps' laid out for all of us in this market.
The moment you will say 'I got it' the market will take a new turn and will expose you, in order to prove that nothing is settled yet.
Keep trying as we all do, in order to accomplish your goals sometime in the near (hopefully) future.
You consider yourself as someone with "over average intelligence".
Socrates considered himself as someone who "knows he doesn't know"
I also partially disagree with Eleni Anna Branou : "The moment you will say 'I got it' the market will take a new turn and will expose you, in order to prove that nothing is settled yet" I heard this sentence the first time by Linda Bradford Raschke, I also met Linda in a financial seminary and she was referring to a specific way of trade totally based on mechanical and "sterile" process without considering the dynamic tones and context of the ever changing market so, you will need to build up your strategy and follow it, adapt it, suffer with it, enjoy with it. To build your strategy, you need to "close your eyes" from external influences, put into it all your passion.
It is a long time process: today you approach the trading arena and you think it is simple to make money-->tomorrow you start to think it is not so simple because you start to lose bad but this is a good thing since you are starting to suffer and your subconscious begins an incubation process of concepts that is amplified by reading hundreds of books, especially books that have nothing to do with trading--> you repeat mistakes and learn new concepts over several years and other pain and frustration-->tomorrow you look at a Picasso or you see, in a meditative status, a leaf falling into the pond (an event that apparently is not significant at all) and suddenly all the puzzle pieces connect inside of you. Brain is a strange matter.
By the way: passion come from the pain (J.
Krishnamurti), there is no escape from this. if you have felt enough pain you
are on the right way to start your journey because now, you have the passion.
If you consider that the greatest minds and the largest funds are on this 'arena' to compete with you, it takes more than brains and technical skills in order to succeed.
You need a very solid strategy, tons of patience and persistence and nerves of steel in order to avoid the 'traps' laid out for all of us in this market.
The moment you will say 'I got it' the market will take a new turn and will expose you, in order to prove that nothing is settled yet.
Keep trying as we all do, in order to accomplish your goals sometime in the near (hopefully) future.
thanks
You consider yourself as someone with "over average intelligence".
Socrates considered himself as someone who "knows he doesn't know"
I also partially disagree with Eleni Anna Branou : "The moment you will say 'I got it' the market will take a new turn and will expose you, in order to prove that nothing is settled yet" I heard this sentence the first time by Linda Bradford Raschke, I also met Linda in a financial seminary and she was referring to a specific way of trade totally based on mechanical and "sterile" process without considering the dynamic tones and context of the ever changing market so, you will need to build up your strategy and follow it, adapt it, suffer with it, enjoy with it. To build your strategy, you need to "close your eyes" from external influences, put into it all your passion.
It is a long time process: today you approach the trading arena and you think it is simple to make money-->tomorrow you start to think it is not so simple because you start to lose bad but this is a good thing since you are starting to suffer and your subconscious begins an incubation process of concepts that is amplified by reading hundreds of books, especially books that have nothing to do with trading--> you repeat mistakes and learn new concepts over several years and other pain and frustration-->tomorrow you look at a Picasso or you see, in a meditative status, a leaf falling into the pond (an event that apparently is not significant at all) and suddenly all the puzzle pieces connect inside of you. Brain is a strange matter.
By the way: passion come from the pain (J.
Krishnamurti), there is no escape from this. if you have felt enough
pain you are on the right way to start your journey because now, you have the passion.
"You consider yourself as someone with "over average intelligence"." It was just a humble phrase. It is documented. I got %1 degree in 12 million contestant in an intelligence test.
"Socrates considered himself as someone who "knows he doesn't know" I don't have problem with my ego, this is just the situation I am explaining.
" learn new concepts over several years " this phrase is frustrating enough I need to achive my goal in forex to achive my other goals, I am in a hurry. Beside professionals say "they spent 6 months" before they feel ready to start with real money ( I spend 3 months yet)
"suddenly all the puzzle pieces connect inside of you." Hope it happens and it happens soon. thanks any way.
"You consider yourself as someone with "over average intelligence"." It was just a humble phrase. It is documented. I got %1 degree in 12 million contestant in an intelligence test.
"Socrates considered himself as someone who "knows he doesn't know" I don't have problem with my ego, this is just the situation I am explaining.
" learn new concepts over several years " this phrase is frustrating enough I need to achive my goal in forex to achive my other goals, I am in a hurry. Beside professionals say "they spent 6 months" before they feel ready to start with real money ( I spend 3 months yet)
"suddenly all the puzzle pieces connect inside of you." Hope it happens and it happens soon. thanks any way.
What I said is a sort of provocation, I have no doubt that you are a clever person. There are a lot of intelligent people out there, but trading has nothing to do with "smartness" otherwise smart people can simply join trading and solve their financial issue. The matter is more complex and it has to do with passion, risk attitude, balance of fears and greed and much more. Smartness is just the smallest piece of the puzzle if we want to define it in the trading journey context.
The sentence by Socrates, on the other hand, it is one of the most misunderstood sentence in the history and this is nothing to do with humility and Ego, in fact the Oracle of Delphi said that Socrates is the wisest man in the area not due his humility but due the fact that, paradoxically, when you are aware that you don't know, you are ready to know on your own way without prejudices. A prejudice example is "I consider myself as clever" or "I consider myself too stupid for math" they are the same attitude. Do you understand the difference? This is not just a false sense of humility attitude but an awareness that things are complex when viewed as a whole compared to the vision of those who "believe they know" in their small specialist sector.
Let me disappoint you: hurry is not a good sign. Professionals spent 6 months to go live? Is it a joke? This can be, at
the best, a period where you test some intuitions (live or demo) but you need to experiment a lot of "6 months" during your multiyears journey
to find your balance and to be sure that trading is what you want to do. You say that you're a programmer so you have already a good advantage
because you can build yourself models to test out some parts of your intuitions.
I think you have to approach the problem a bit like a programmer. If the program does not work, you must debug and find the cause of the problem.
Returning to forex trading, you first need to review your forex trading behavior and answer some questions.
Do you have one consistent trading method or is it a hit or miss game? We try to predict whether the market will grow or not but we cannot read the chart. We should follow a big forex players who create the market but it is not possible if we can't see the footprint they leave on the chart.
If we use the trading strategy developed by successfull traders, we often lack the patience to master this method of playing by jumping from one to the other and thus we only waste of time we do not improve our trading skills.
I think you have to approach the problem a bit like a programmer. If the program does not work, you must debug and find the cause of the problem.
Returning to forex trading, you first need to review your forex trading behavior and answer some questions.
Do you have one consistent trading method or is it a hit or miss game? We try to predict whether the market will grow or not but we cannot read the chart. We should follow a big forex players who create the market but it is not possible if we can't see the footprint they leave on the chart.
If we use the trading strategy developed by successfull traders, we often lack the patience to master this method of playing by jumping from one to the other and thus we only waste of time we do not improve our trading skills.
thanks
"You consider yourself as someone with "over average intelligence"." It was just a humble phrase. It is documented. I got %1 degree in 12 million contestant in an intelligence test.
"Socrates considered himself as someone who "knows he doesn't know" I don't have problem with my ego, this is just the situation I am explaining.
" learn new concepts over several years " this phrase is frustrating enough I need to achive my goal in forex to achive my other goals, I am in a hurry. Beside professionals say "they spent 6 months" before they feel ready to start with real money ( I spend 3 months yet)
"suddenly all the puzzle pieces connect inside of you." Hope it happens and it happens soon. thanks any way.
I will talk about my experience, as someone relatively intelligent, which is not able to be a manual trader. And also as a senior programmer (I started in 1986) with a very logical mind.
I learnt all the technical aspects of trading (well maybe not all but a lot), and I master them very well. As almost everyone I was thinking to become rich quickly when I started, I lost money also as most people. It leads me to think : "What's happened here ?". I also acquired a lot of experience ad freelancer working with traders (and some of them real successful and provisional traders, not 'demo' traders).
To make it short, I came to these conclusions :
- The most important : you need to like trading, to be passionate by what you are doing to be successful. Don't even think you can be a successful trader if your main motivation is to earn money. You need to like, to love, to look at charts and analyse them for hours. Money comes after, if your passion is for money only, it will not work. (Please note that I am not talking here about some famous people who made fortune in Stocks or Forex, they are gamblers more then traders at best and were successful mainly because they were already rich, or at leat had a bog capital at their disposal, And anyway they are exceptions, not the rule).
- You need to like taking risk, the stay calm even in adverse positions. You need to be able to lose without becoming desperate. In other words, it's a matter of personality.
- Next. More you have a logical mind, more it is difficult to become a great trader. Traders don't think logically, they think "intuitively", in the sense that trading is more an art than a science. Don't get me wrong, science matters too, I hope you get the nuance. I NEVER encountered a pure manual trader who was able to describe his system completely, in a way which could be reproduce by someone else.
- Then comes the work, the hard work, the patience to learn for years, and certainly not months.
Of course, these are not absolute "rules", there are always exceptions, you might found a professional trader which don't like to analyze a chart or with a very logical mind. All of that to say the intelligence is a very small factor, of course it you are dumb or a genius will change your chance to be successful, but it's far from sufficient. And anyway, what is intelligence ? There is not even a satisfactory answer to this question, to my knowledge.
P.S: Algorithmic, automated trading, is different, all what I wrote is related to manual trading.
I will talk about my experience, as someone relatively intelligent, which is not able to be a manual trader. And also as a senior programmer (I started in 1986) with a very logical mind.
I learnt all the technical aspects of trading (well maybe not all but a lot), and I master them very well. As almost everyone I was thinking to become rich quickly when I started, I lost money also as most people. It leads me to think : "What's happened here ?". I also acquired a lot of experience ad freelancer working with traders (and some of them real successful and provisional traders, not 'demo' traders).
To make it short, I came to these conclusions :
- The most important : you need to like trading, to be passionate by what you are doing to be successful. Don't even think you can be a successful trader if your main motivation is to earn money. You need to like, to love, to look at charts and analyse them for hours. Money comes after, if your passion is for money only, it will not work. (Please note that I am not talking here about some famous people who made fortune in Stocks or Forex, they are gamblers more then traders at best and were successful mainly because they were already rich, or at leat had a bog capital at their disposal, And anyway they are exceptions, not the rule).
- You need to like taking risk, the stay calm even in adverse positions. You need to be able to lose without becoming desperate. In other words, it's a matter of personality.
- Next. More you have a logical mind, more it is difficult to become a great trader. Traders don't think logically, they think "intuitively", in the sense that trading is more an art than a science. Don't get me wrong, science matters too, I hope you get the nuance. I NEVER encountered a pure manual trader who was able to describe his system completely, in a way which could be reproduce by someone else.
- Then comes the work, the hard work, the patience to learn for years, and certainly not months.
Of course, these are not absolute "rules", there are always exceptions, you might found a professional trader which don't like to analyze a chart or with a very logical mind. All of that to say the intelligence is a very small factor, of course it you are dumb or a genius will change your chance to be successful, but it's far from sufficient. And anyway, what is intelligence ? There is not even a satisfactory answer to this question, to my knowledge.
P.S: Algorithmic, automated trading, is different, all what I wrote is related to manual trading.
I agree on 99,9% of these words, it is very nice to read between the lines the experience that shines from these lines.
Why not 100%? I don't think you are "not able to be a manual trader" in fact you are able (how do i know? Because otherwise you wouldn't have written as you wrote above) but this is just a nuance: to be a pure manual trader is not in your beliefs and it is totally okay, in fact there are a lot of way to do it as long as you have certain beliefs. Here there is a trick about the common language sense, in fact, the common language often is not enough and it is not suitable to describe what someone want to mean: with beliefs I don't refer to something you believe or not in the sense of "conspiracy" but I refer to something that you believe because it is congenial to you based on your experience of your tastes, available time, risk appetite, temper and a lot of other things that lead you to mature certain beliefs.
The most important thing is about "beliefs" because in those beliefs there is your own shape accumulated during the years of your own experience and this fact explain what you write at point 3 about the fact that a pure manual trading system could not be reproduced perfectly by someone- Why? -Because the beliefs who "created" that system are intricate and not perfectly transferable in the mind of a disciple. (after all in his beliefs there are also the Picassos he watched at :-D) so the problem is more on the side of those who receive "the system" than of those who explain it because who is explaining it has already discounted his beliefs in the explanation. This is also the reason for not trying to replicate another's system, or at least try to shape that system on your own beliefs.
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