Is cable in for a trouncing?

[MickMason]

....as for Eur/Usd, you may want to take a peek at my post from last Monday the 27th June, short from between 1.2150/1.22 for 1.1850, ok it didn't come by the end of last week, it was 2 days late, that's 310pips, I don't mind giving a few back now and then if needs be

http://www.moneytec.com/forums/showt...658#post130658


Mick

[MickMason]

psytrader, why is it that some people resent it when others are successful at something, you're the psychologist here, what's behind it? Why do people like to see others lose or do badly, does it somehow reflect well on their own attempts?


Mick

[MickMason]

Originally Posted by MickMason

Time to buy maybe? Is 1.75 a bottom for 1.77 with a stop at 1.7475? How about Eur/Usd, a buy at 1.1850 for 1.20?

Time will tell.....


Mick

Now +70 and +40 respectively, closed for +110, data due out in 90seconds

[psytrader]

Originally Posted by MickMason

Time to buy maybe? Is 1.75 a bottom for 1.77 with a stop at 1.7475? How about Eur/Usd, a buy at 1.1850 for 1.20?

Time will tell.....


Mick

I dont know about 7700 this week.
7504 was a good buy for a 61.8 retrace

Good call old boy.
done for the day.

happy hunting
PSY

[MickMason]

Originally Posted by psytrader

I dont know about 7700 this week.
7504 was a good buy for a 61.8 retrace

Good call old boy.
done for the day.

happy hunting
PSY

I'm done too, after an extra day's holiday I have difficulty getting back in the swing. NFP's the next focus I guess, I don't think the MPC or ECB will move.

God I love this game, it sure beats working for a living

Cheers

Mick

[psytrader]

Originally Posted by MickMason

psytrader, why is it that some people resent it when others are successful at something, you're the psychologist here, what's behind it? Why do people like to see others lose or do badly, does it somehow reflect well on their own attempts?


Mick

Its called cognitive dissonance.

This is the difference between our perception of reality and our beliefs about what "should be".

For example, a woman says, "do I look fat in this dress?" Naturally, we sit there thinking "of course not!,...Ive been undressing you with my eyes all night!" You see, she knows that she is not fat, but a distressing feeling is created when she realizes that she is not as skinny as the latest covergirl.

She has now realized the difference between what IS and what she believes should be.

This is theorized among many as the cause of all stress and negative emotion.

I.E.

smoeone we love passes away and we have not accepted it.

wife says you need to make more money and you are happy with your present lifestyle.

someone told a trader that XYZ is the WAY they have to trade and they already believe in method ABC.

When someone challenges our beliefs it is a natural human behavior to respond with defensive emotions.

In order to be more adaptive mammals in this crazy world, we should not only be mindful of when others are attempting to change our beliefs but of when we are attempting to change the beliefs of others.

If you havent already figured it out this principle of cognitive dissonance is present at every tick of the market move.

I am guilty of this as well in my recent lashing out that I gave to another member who I believed was attempting to sell signals.

You see I hold the belief that a person should never stop learning. That there is no such thing as a "genius",...only a person with intelectual curiosity.

A signal seller represents to me a threat to that belief,....such that those who buy signals have surendered their intelectual curiosity, their freedom, the essence of their very being.

Im not sure if you are a star wars fan, but there is a part in episode I when Liam Neeson(quai gon gin) says to Jake Lloyd (anakin)

"your focus determines your reality"

Regards

PSY

[MickMason]

Hmmm, I kinda get your point, I'm not quite sure how it applies though.

I come across what seems to me as resentment quite a lot lately. A neighbour of ours, quite a close friend actually, who is a very successful litigator and wealthy in his own right, mocks the way I earn a living by saying there isn't any money in trading, it's just a casino game. Now bear in mind we live in the same road, in similar houses, drive similar cars, and probably have similar incomes and lifestlyles. I put it down to the fact that he works around 60 hours a week and is always buried in paperwork that he in some way resents the limited hours I work. I know how much money there is in trading, I feel insulted somehow at his illogical opinion of it's obvious potential.....much like I somehow resented the comment made by Jaymanicus about how I was likely to blow my account, totally illogical and inaccurate! Perhaps that was just inexperience on his part, or perhaps he resented the fact that my view opposed his...


Mick

[psytrader]

Originally Posted by MickMason

Hmmm, I kinda get your point, I'm not quite sure how it applies though.

I come across what seems to me as resentment quite a lot lately. A neighbour of ours, quite a close friend actually, who is a very successful litigator and wealthy in his own right, mocks the way I earn a living by saying there isn't any money in trading, it's just a casino game. Now bear in mind we live in the same road, in similar houses, drive similar cars, and probably have similar incomes and lifestlyles. I put it down to the fact that he works around 60 hours a week and is always buried in paperwork that he in some way resents the limited hours I work. I know how much money there is in trading, I feel insulted somehow at his illogical opinion of it's obvious potential.....much like I somehow resented the comment about how I was likely to blow my account, totally illogical and inaccurate!


Mick

Two inteligent men in their own right.

His reality challenges your belief,...so you are insulted.
Your reality challenges his belief,...so he mocks you.

You see, the mentality of "go to school; get an advanced degree; get a good paying job; work hard for the team and you will be rewarded."

These are all rewarding virtues.

Unfortunately,...in trading,...they dont count for spit.
Likewise, our reality would not survive in his world.


PSY