99% Winners!!! Wow, what a place!!

[miscanthus]

Or alternatively - buy your girl a car!

[MickMason]

Originally Posted by FX_Sniper

It is just that our minds are always busy thinking and looking at ideas implanted in our minds from all types of angles going thru all options and scenarios things can turn out and so on and so forth...

This is weird, I do that too! I'll mull over an existing 'problem' and explore all the various scenarios and the potential outcomes of the ways it can be handled, analyse the thing to death.

'Morning pages', sounds like a way of clearing the mind of everything that needs doing or needs sorting out, once on paper it's not needed in the mind any more, great idea.

Here's another 'solution'....

Mick

[FX_Sniper]

Hi you lot !

miscanthus,

"Or alternatively - buy your girl a car!"

WHAT , lucky for me she does not have a license, even more so for the poor little animals that might cross the road with her behind the wheel... I am trying to get rid of worries here, not collect more LOL

Mick,

Yep, so from now on it is Morning Pages and two HUGE table spoons full of TRADINE then for me ... damn, if only

Cheers guys got run for my life now, I think the "Lady of the house" has seen what I wrote here, OOPS

FX Sniper

[shaunRSA]

FX Sniper

I agree that Bill Williams' book - "Trading Chaos" has some excellent points of view and tools to improve psychological trading. I understand that ultimately success in trading boils down to 30% technical (a proven system) and 70% psychological.

Think about that... 70% of a trader's success in trading is based on psychological issues and thinking the right way. My own experiences over the last 3.5 years have definately shown that the state of mind is far more important than the system used. Yet look at this Trading Community - most of the threads are about a magic system that prints money - often with plenty of charts to show etc.

Here are some suggested books on the psychological side of trading:

1. Mark Douglas - "Trading in the zone" - excellent and he really explains how the mind attempts to sabotage your trading progress. In fact some of the posts in this thread from Mick are clear copy book examples from Douglas' book on typical tarding responses as one journey's through the market experience.

2. Jack Schwager wrote two books - "Market Wizards" and "The New Market Wizards". Both are essentially a documentary of interviews with some of the world's leading traders. Again there are some very strong psychological lessons taught here by these pros.

I started out by using the William's journalling approach and so for 6 months I would wake up at 5am every day (except Sundays) and just write whatever thoughts came into my conscious mind.

What has been interesting for me is that this was the start of a journey of overall self improvement and since then I have really focused on the thoughts that I think (deliberately eradicating negative self talk) and looking to appreciate my lot in life, other people, the world, our Creator etc.

This process combined with a ritual of mediating for between 15mins and 45 mins every day has had a significant effect of my state of mind, my emotions and my outlook on life and guess what... on my trading too. My anger levels have dropped big time, my conscious mind (the drunken monkey - ref. Williams) is a lot less noisy and I am starting to listen to an inner voice that give me a level of intuition from time to time that is scary. I have also started to set goals around pips profit per month and I now spend some time during my mediatation sessions imagining experiencing more winning trades, less stressful losing ones and my capital groming from strength to strength.

I have realised that trading is simply a mirror of me - by changing me (thoughts etc.) I have changed the image in the mirror and the market is a lot more friendly.

I would strongly encourage you all to go on a journey of self improvement not just for better trading but for a better life. Ironically your trading will get better too.

Here's an excellent book that will kickstart your improvement journey - if you really want to live at a new level:

Robin Sharma - "The Monk Who Sold His Ferrari". Brilliant - a real gift. Check out Robin Sharma at Robin Sharma's web site for more info.

Hope this helps.

Warm regards
Shaun

[4xis2ez]

Originally Posted by MickMason

We must be the elite of traders here on Moneytec, everyone's winning, it's great, I feel totally inadequate!

Ok, I'm being sarcastic, but all we ever see are successful strategies and people turning $10 into $10,000,000 in 10 days, don't we have any losers here?

I'm always losing trades, it happens all the time, fortunately my winners pay for them and leave me with some profit at the end of the month.

How about a few more 'what not to do' as well as all the 'do this', I'm sure there are a few readers who would find it helpful.

Have a great day y'all

Mick

Just read this thread for the first time. Mick, are not you the one who started the thread "Can it get any easier"? I guess you are a sucessful trader but I consider that thread title very misleading. Trading is not easy but hard. Most lose money at it. Newbies probably read that thread thinking they will strike it rich with your techniques. I am just suprised that now you say you have many losing trades. Is it easy or not?!

[rezo_s]

Originally Posted by 4xis2ez

Just read this thread for the first time. Mick, are not you the one who started the thread "Can it get any easier"? I guess you are a successful trader but I consider that thread title very misleading. Trading is not easy but hard. Most lose money at it. Newbies probably read that thread thinking they will strike it rich with your techniques. I am just surprised that now you say you have many losing trades. Is it easy or not?!

Hi Russ, Mick, Shaun, Sniper and everyone!

Russ, of all members, how can you say that "Trading is not easy but hard" you, with your nick name 4xis2ez

just kidding

Sniper: re: Morning Pages

Funny thing - I have been doing this stuff for several years now. I never used diaries, but it all started from conducting one when I started seriously trading. Its a very long known and good thing to do - to write down all your trades in a diary, where you take notes about the reasoning of each trade, and go through the whole process of the trade in writing. That way you can actually track all your mistakes and behavior during your trading. Good for psychology of trading, and for good discipline.

After I started posting on forums though, I stopped writing on trading. its easily tracked on forums. but I keep writing on other things.

I never thought of it as "Morning Pages", but its a good thing. I highly recommend writing. When there is a problem, decision to make or dilemma you what to solve, its done better in writing. easier to re-think and follow your thoughts, see all + and - of the situation...

About Innerworth - I also highly recommend reading it on daily basis. And its free.

my2c

Rezo

[stronghand]

There is some good reading in these posts!

I like the idea of the morning pages. I always heard you should write stuff first thing in the morning. Dreams, thoughts, etc. It always seemed like a good idea to me. I am not sure why I never did it consistently. Maybe its time to start again?

I can understand why writing helps. It organizes your thoughts. In your mind they are racing past, but you must slow down to write them. Plus seeing them on paper always seems to have more power.

Another thing that works for me is talking about things I learned. For instance, I have been trading for many years, lately I am putting incredible effort into learning how the markets really work and who is in control at the moment making price go up or down. I learn things and understand them, but I have noticed that when I talk to my brother that also trades and I explain what I have learned, I seem to get moments of clarity where it makes even more sense. It seems that for me, when I have to explain something to someone else, I have to organize the thoughts differently and it helps it to click in my mind. Thats one reason these forums are good, it gets me to rethink my thoughts and helps me organize them for a better understanding.

Sorry for the long post. Just getting my thoughts in order.

[Tzachi]

Rezo s,

Thanks for your input about the Morning Pages, I like to do it 2.

BTW, I am from Ra'annana, where you located? You can contact me at tzachi@yahoo.com