Obsessed with Trading

its the dream. the thought of providing for yourself with no boss, no commute, no office politics. earning much more than is possible in other jobs..... Its just impossible for me to stop chasing it

Sounds like the symptoms of NCD such as Travis exhibits on his thread (he admits it).

http://www.trade2win.com/boards/trading-journals/72598-my-journal.html

Definition of NCD:
http://www.google.com/dictionary?q=narcissistic personality disorder&hl=en&langpair=en|en&spell=1&oi=spell
 
This quote brings to mind why many folk are suckered into trading (and not realizing the work involved)

"The truth is often avoided because it is ugly and unpleasant. Never appeal to truth and reality unless you are prepared for the anger that comes for disenchantment. Life is so harsh and distressing that people who can manufacture romance or conjure up fantasy are like oases in the desert: Everyone flocks to them. There is great power in tapping into the fantasies of the masses".

http://www2.tech.purdue.edu/cg/courses/cgt411/covey/48_laws_of_power.htm
 
advfn - I totally empathise with your situation. For me it's always been about financial freedom and escaping the rat-race. I enjoy my work and it pays a good wage but at the end of the day it's a job having to endure other idiots in the office. I've always been one to take on challenges and trading full time is definitely the most difficult I've undertaken in my life to the point it became an obsession through the darkest days.

Once you find the way you'll probably find it's not longer an obsession, more of a task, sometimes burdensome. The biggest problem I face now is impatience, riches don't come quickly and while I could give up work now and earn a decent livable wage, I want to re-invest the profits to build up the account and a safety buffer, which means a few more years commute to the office.m I keep having to tell myself it's a necessary sacrifice!
 
This quote brings to mind why many folk are suckered into trading (and not realizing the work involved)

"The truth is often avoided because it is ugly and unpleasant. Never appeal to truth and reality unless you are prepared for the anger that comes for disenchantment. Life is so harsh and distressing that people who can manufacture romance or conjure up fantasy are like oases in the desert: Everyone flocks to them. There is great power in tapping into the fantasies of the masses".

http://www2.tech.purdue.edu/cg/courses/cgt411/covey/48_laws_of_power.htm

Is that like "Oasis":p

oasis noun /əʊˈeɪ.sɪs//oʊ-/ n (plural oases)
• [C] a place in a desert where there is water and therefore plants and trees and sometimes a village or town
a calm, pleasant place in the middle of somewhere busy and unpleasant
 
I'm not saying it is healthy, but in a way I think you HAVE to be obsessed with trading to succeed. It is such an incredibly difficult undertaking to master that unless you are prepared to put every ounce of energy you have into it, you probably won't make it into that 5%/2%.

This applies to anything in life where you want to be very successful. Take the Dragons Den lot. They didn't get where they are today without serious hard work.

And to quote Felix Dennis in "How to Get Rich" : "Tunnel vision helps. Being a bit of a sh1t helps. A thick skin helps. Stamina is crucial, as is a capacity to work so hard that your best friends mock you, your lovers despair and the rest of your acquaintances watch furtively from the sidelines, half in awe and half in contempt".

Admittedly there's a difference between extremely hard work and obsession - but not a lot.

Thousands of people DREAM about financial freedom, being their own boss etc - but only those who give it their all actually DO make it.

I say keep working hard / obsessing ... it''ll be the driving force to get you there.

Good luck
 
I'm not saying it is healthy, but in a way I think you HAVE to be obsessed with trading to succeed. It is such an incredibly difficult undertaking to master that unless you are prepared to put every ounce of energy you have into it, you probably won't make it into that 5%/2%.

This applies to anything in life where you want to be very successful. Take the Dragons Den lot. They didn't get where they are today without serious hard work.

And to quote Felix Dennis in "How to Get Rich" : "Tunnel vision helps. Being a bit of a sh1t helps. A thick skin helps. Stamina is crucial, as is a capacity to work so hard that your best friends mock you, your lovers despair and the rest of your acquaintances watch furtively from the sidelines, half in awe and half in contempt".

Admittedly there's a difference between extremely hard work and obsession - but not a lot.

Thousands of people DREAM about financial freedom, being their own boss etc - but only those who give it their all actually DO make it.

I say keep working hard / obsessing ... it''ll be the driving force to get you there.

Good luck

The difference can be highlighted by the addition of the adjective "Unhealthy.";)
 
This unrealistic view point can lead to poor trading too, such as unrealistic profit targets, over trading etc.

Certainly has not led to unrealistic profit targets and over trading for me.

Has given me realistic profit targets for the past 10 years and Over trading whats that?
 
Certainly has not led to unrealistic profit targets and over trading for me.

Has given me realistic profit targets for the past 10 years and Over trading whats that?

For me over trading has been taking to many correlated trades at one time, taking trades I should not have taken like to close to a weekend, when I did not want to hold for a weekend, basically a lack of discipline.
Revenge trading, trading smaller time scales while board waiting for my set up. Taking on a higher amount of risk than I know I should, I would call all these over trading. I would imagine that over trading could go hand in hand with under capitalisation.

I would say this was to gain unrealistic profits. These symptoms I would say for me was a result of frustration due to unrealistic profit expectations.

If you are a directional trader and have never experienced any of the above and do not understand what I mean by over trading, then I will take my hat off to you.

Maybe you could give some advice to the rest of us who have experienced this.
 
For me over trading has been taking to many correlated trades at one time, taking trades I should not have taken like to close to a weekend, when I did not want to hold for a weekend, basically a lack of discipline.
Revenge trading, trading smaller time scales while board waiting for my set up. Taking on a higher amount of risk than I know I should, I would call all these over trading. I would imagine that over trading could go hand in hand with under capitalisation.

I would say this was to gain unrealistic profits. These symptoms I would say for me was a result of frustration due to unrealistic profit expectations.

If you are a directional trader and have never experienced any of the above and do not understand what I mean by over trading, then I will take my hat off to you.

Maybe you could give some advice to the rest of us who have experienced this.

lol Jason,
Don't get me wrong I don't consider myself a great trader by any means but do make my living from it.
I do aim for a bit more than the 20 points a day
basically risk reward ratio
A realistic stop loss for a the smallest time frame I trade is 20 points so you need to get a risk reward of a least 2:1 to make it.

Now the Revenge trade:devilish:
I don't know anyone who has not been tricked by this :devilish:

The only way I have found to overcome this :devilish:
is I also run a micro account and if I take 2 consecutive losses on my main account will switch to my Micro account trading 10p a point with a maximum loss of 10 pounds I will not go back to my main account until I have a profit on my micro. Might not work for everyone but does for me
 
just out of another boring meeting.....its just hardened my resolve to MAKE IT trading !!
The markets are the only thing that excites and motivates me these days - winners take risks in life, look at successful entrepreneurs, businessmen etc. no pain, no gain

the corporate world is a joke, a whole load of pawns doing tasks they don't like for someone else who in turn is a pawn.....working the way upto the CEO....who then reports to the shareholders !! - so ultimately the markets, traders etc. control the whole thing lol
 
The only way I have found to overcome this :devilish:
is I also run a micro account and if I take 2 consecutive losses on my main account will switch to my Micro account trading 10p a point with a maximum loss of 10 pounds I will not go back to my main account until I have a profit on my micro. Might not work for everyone but does for me

I really like that idea, that (or a version of it) could work well for me and many others. Thanks for sharing.

Back on topic. Yes I am obsessed, and reading your post made me put the pc in sleep mode and go and play wrestle with my 5 year old son.
 
I really like that idea, that (or a version of it) could work well for me and many others. Thanks for sharing.

Back on topic. Yes I am obsessed, and reading your post made me put the pc in sleep mode and go and play wrestle with my 5 year old son.


:LOL:
If reading my post puts your pc in sleep mode you should watch my trading your pc will go into complete shut down and refuse to turn on again if I am anywhere in the vicinity.

One thing I have learnt about revenge trades is they go wrong 99% of time but it the revenge trade is taken with a few pence its satisfying to know you are not losing a lot more
 
just out of another boring meeting.....its just hardened my resolve to MAKE IT trading !!
The markets are the only thing that excites and motivates me these days - winners take risks in life, look at successful entrepreneurs, businessmen etc. no pain, no gain

Yep, but you need a plan and have to accept that failure may be an option for the moment. I would quote the old Edison story about trying 10,000 times but you've surely heard it already.
 
:LOL:
If reading my post puts your pc in sleep mode you should watch my trading your pc will go into complete shut down and refuse to turn on again if I am anywhere in the vicinity.

:LOL:

Not your post gamma! but advfntrader original post, about obsession and not putting his all into his job. Made me think I should I should be playing with my son right now.

One thing I have learnt about revenge trades is they go wrong 99% of time but it the revenge trade is taken with a few pence its satisfying to know you are not losing a lot more

I think that could really work for me, which company do you use for a 10p a pip?

advfntrader - Have you thought about trading daily charts instead, you can do this at your leisure?
 
I will disagree with many here, and say that obsession is not the problem here. Einstein was obsessed with physics, Newton with maths, Joes Mourinho is obsessed with football, Tiger Woods was obsessed with golf etc. All massively successful in their chosen field.

To reach the highest standard, sometimes obsession is necessary. So what do I think is the problem here?

You mentioned:
1) many blown accounts
2) Look at others in work and think they are all so sad as they are all working in the rat race, in jobs they don't like but they don't know the "secret" that the markets could unlock for them !!!
3) its the dream. the thought of providing for yourself with no boss, no commute, no office politics.

1. means that either you don't use proper money management, or you have emotional blowups which then result in account blowups. Both can be worked on. It takes a LOT of trades to blow up when you are risking 1%, even with an average system. Do you trade at 1% or less?

2. You say you're looking at others, but really this is a reflection of you looking at yourself and being unhappy with yourself. Are you self-destructive?

3. What is the dream? Is the dream to trade for a living? Or is the dream not to have to do those things you mention. In other words, are you just trying to get away from something, or do you actually love to trade. If someone could hand you a future where you earned from trading enough to cover your living costs, but would never be rich, would you do it?

I hope you don't find my reply offensive in any way, it isn't meant to be. I don't know you so I could easily be wrong, but from the small posts you have in this thread, I would imagine you are unhappy with your life, you're angry with yourself because of that, and are self-destructive as a result. Which means you often won't do what you need to do to trade.
 
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