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[pinalli]

Originally Posted by niceguy777

It does depend person to person. But there is a sort of acceptance in this industry that 'life is a lottery' and if you happen to find a system that works for you, you are lucky.

The real solution is deeper than that, but traders are generally carried along by this thinking that the industry and forex forum owners are happy to perpetuate for obvious reasons.

I think Forex must be the only business where people seem to go into it believing in a culture of regular loss rather than overwhelming wins. I think if I offered this kind of thinking as a business plan, I would be laughed at.

The currency movements are fluid, and as human beings we also go 'up and down'. It doesn't make sense to me to try and be some sort of machine, rather than being in tune with the currencies as well as myself, to maximize positive opportunities as they present themselves. Even robots are unreliable, because they cannot be sensitive, like us, to the subtleties of some of the movements.

Not only that, but actually choosing the 'right system' can be fraught with complexities - both from the Forex world as well as our own internal dynamics and belief systems. Choose the wrong one, and you are automatically setting yourself up for failure.

The answer starts with you, not systems or charts or techniques etc. And there are ways you can pinpoint these issues and put them right before you start trading, and there are ways you can pinpont trades.

Well i partly agree with you. I think its true with those newbies who actually come without preparation and try their luck in this industry. Some does their home work well and then enter with confidence.

[MarioX]

Originally Posted by niceguy777

It does depend person to person. But there is a sort of acceptance in this industry that 'life is a lottery' and if you happen to find a system that works for you, you are lucky.

The real solution is deeper than that, but traders are generally carried along by this thinking that the industry and forex forum owners are happy to perpetuate for obvious reasons.

I think Forex must be the only business where people seem to go into it believing in a culture of regular loss rather than overwhelming wins. I think if I offered this kind of thinking as a business plan, I would be laughed at.

The currency movements are fluid, and as human beings we also go 'up and down'. It doesn't make sense to me to try and be some sort of machine, rather than being in tune with the currencies as well as myself, to maximize positive opportunities as they present themselves. Even robots are unreliable, because they cannot be sensitive, like us, to the subtleties of some of the movements.

Not only that, but actually choosing the 'right system' can be fraught with complexities - both from the Forex world as well as our own internal dynamics and belief systems. Choose the wrong one, and you are automatically setting yourself up for failure.

The answer starts with you, not systems or charts or techniques etc. And there are ways you can pinpoint these issues and put them right before you start trading, and there are ways you can pinpont trades.

I agree. We humans are the final and the most important component here. Without work on yourself no one will gain anything with trading. It is a fight with yourself - not the market.

[honeyeater]

Joe,

I think self-control is a constant manipulation by me to be or to do something that is foreign to my make up.

A simpler way for me is to negate counter productive belief and substitute the new which is not at odds with my ambition of being a consistently profitable trader. I can relax then, and not be constantly on watch for fear of slipping into an unprofitable heap.

Mark Douglas observes that a) beliefs DEMAND expression and b) beliefs are resistant to change.

Self control will often be not enough to steam roll a belief into submission.
It requires the negation of the old with the energetic replacement of the new belief. Every trade that does not go according to plan, is an opportunity to address the underlying emotional issue. Which is one of the major joys I receive from trading. And profit resides in joy...not grief!

[miskec]

Im always having trouble with self control. When i start to lose i try to get it back in any way i can and that usually means i lose everything i have.

[niceguy777]

Originally Posted by MarioX

I agree. We humans are the final and the most important component here. Without work on yourself no one will gain anything with trading. It is a fight with yourself - not the market.

Absolutely right! The think is that it's best not to fight yourself - you cannot win that one!

Better to find ways to rid yourself of the parts that aren't working for you.

[niceguy777]

Originally Posted by honeyeater

Joe,

I think self-control is a constant manipulation by me to be or to do something that is foreign to my make up.

A simpler way for me is to negate counter productive belief and substitute the new which is not at odds with my ambition of being a consistently profitable trader. I can relax then, and not be constantly on watch for fear of slipping into an unprofitable heap.

Mark Douglas observes that a) beliefs DEMAND expression and b) beliefs are resistant to change.

Self control will often be not enough to steam roll a belief into submission.
It requires the negation of the old with the energetic replacement of the new belief. Every trade that does not go according to plan, is an opportunity to address the underlying emotional issue. Which is one of the major joys I receive from trading. And profit resides in joy...not grief!

A lot of people have compared the work we do with Mark Douglas - until they do it! The problem with any book (including ours!) is that it can only be a pointer, and not provide the actual experience. We have to demonstrate the change to ourselves, and we have to first find out, beyond what we may believe, what change is needed.

I hear what you are saying, and I think you are spot on when you say that "Every trade that does not go according to plan, is an opportunity to address the underlying emotional issue."

[niceguy777]

Originally Posted by miskec

Im always having trouble with self control. When i start to lose i try to get it back in any way i can and that usually means i lose everything i have.

Been there, done that! I think any trader at some point can relate to this if they are honest!

Geep going, and just remember that it is not necessarily anything to do with a lack of knowledge of trading that is the problem. So you need to work on mindset.

[pinalli]

Yea right! thats a part of forex trading and every forex online trader has to keep his/her emotions intact. Infact i will say trade a method that fits your personality. If you don’t mind waiting for profits to accumulate over time then consider using swing trading strategies. This is very important. Trade with what best suits your character. Be true with yourself and recognize what are your needs. My need is the gratification that frequent profits provide, no matter how small. It keeps me going.

[niceguy777]

Originally Posted by mjtcorp

take out emotions when trading in forex, only know your risk that you can handle coz you should know by now that nobody can predict the market if it will on your side or againts you

That's not quite true, actually. There are times when predicting is possible - both in terms of direction and volume. I demonstrate that on some of my videos...

[pinalli]

I support this guy above. It is possible to predict market therefore we have technical and fundamental analysts. Its actually based of market data, facts and charts, we forecast and assumes that our analysis would get clear.....

[niceguy777]

Yes. For instance, on another forum, I identified the turning point that the GBPUSD made over the weekend. It had raised up to a strong barrier on the Ab Fib Framework, and since then has just died away as we expected - and that was before the fundamentals may have confirmed it.

[pinalli]

Definitely. I believe each fundamental and technical analysis has their own place and placing both in our analysis gives near accurate results.

[CashSplash]

Everybody thinks differently, and have different ways of controlling themselves. Some can control themselves better than others, some are more emotional than others. If you always think about the consequences, or if the risk is worth it or not. Maybe that can help to control yourself a little bit.


best regards

[niceguy777]

This kind of conversation can go on and on! The fact is that it is not so important to understand all the ins and outs of possible trading methods and techniques. There are as many of those as there are trades to take. It's not about controlling emotions, it's about being clear and present, relaxed and observant. Fighting your fears, curbing desires and over-intellectualisation are all symptoms of not being in the right place. There are many techniques that could work for you, if you have truly dealt with the inner problems (which few really do or know how to, since they are rooted in the subconscious which, by definition, is outside normal awareness). It therefore makes no sense at all to keep yourself on a continuous learning path.

If this all sounds a bit theoretical, or an 'interesting' alternative, or just plain rubbish, then you haven't understood. When you do, little lights go on in your head, you don't bother talking about it any more on forums, and you get down to the real work. Unfortunately, as a race we seem to be wired to avoid that at all costs until we are driven into a corner!