Ego or Lack of?

[£10kLoser]

Personally, I believe that we can reprogram our subconscious mind by means of a mantra. This is very controversial and I hesitate to post it here for that reason. So, please no negative feedback!

'The Secret' had half the idea, as did the original work on the subject, Napoleon Hill's 1930s 'Think And Grow Rich'. The missing ingredient is that by repeating things like, I want to be rich' just reinforces the 'want' aspect in the subconscious. Yes, you do want to be rich but wanting doesn't help!

The controversial aspect is to acknowledge that the subconscious mind works in higher dimensions - the fourth dimension being time and the fifth dimension being all possibilities (in the fifth dimension, we are gay lovers and the rest!).

So, in one time line (4th dimension of) the fifth dimension, we are already rich and hugely successful traders. The object of a mantra is to connect with that 'other you' and pull yourself onto that time line -this can only be done by constructing the mantra in the present tense.

For example, 'I am so happy and grateful that I make £10,000 a month from trading'. Note the present tense and the introduction of an emotional element.

The theory is that if this is mindlessly repeated and enters the subconscious, a connection in higher dimensions is made with the ‘you’ in other dimensions who is earning £10,000 a month from trading and this connection can pull you onto that timeline. I would suggest 15 minutes when you wake up and 15 minutes before you go to bed as a minimum.

Interestingly, this should be a very pleasant experience – if not then your mantra is deeply at odds with your character and maybe trading is not for you.

On a more mundane level, the subconscious will start to believe that you are the sort of person who can and does (the illusion of passing time does not exist for the subconscious mind) earn $10k a month - or whatever figure you deem reasonable for your circumstances.

I started off by saying 'Personally' and I will finish that way - Personally, I found this technique to be extremely powerful and results can happen in about a month or two. Obviously, it has to be backed up with sound, practical action as well...

Of course, there will always be people who say it doesn't work for them but my answer would be that they approached the whole thing with the wrong attitude or didn't construct both a suitable mantra and the practical means to fulfil it.

 

[Joe Ross]

I made a conscious decision to stop smoking in 1970. Never touched a cigarette again. One day I was a smoker, the next day I wasn't. I doubt if it had anything to do with my subconscious. I just got sick and tired of the filthy habit.

 

[trendie]

Personally, I believe that we can reprogram our subconscious mind by means of a mantra. This is very controversial and I hesitate to post it here for that reason. So, please no negative feedback!
.......

controversial ideas will always attract vociferous objections.

nonetheless, I hope you will explore this idea and express your knowledge further, if not here, then in another thread.

are there any texts or further primer info you can provide to elucidate this?

 

[Black Swan]

Personally, I believe that we can reprogram our subconscious mind by means of a mantra. This is very controversial and I hesitate to post it here for that reason. So, please no negative feedback!

'The Secret' had half the idea, as did the original work on the subject, Napoleon Hill's 1930s 'Think And Grow Rich'. The missing ingredient is that by repeating things like, I want to be rich' just reinforces the 'want' aspect in the subconscious. Yes, you do want to be rich but wanting doesn't help!

The controversial aspect is to acknowledge that the subconscious mind works in higher dimensions - the fourth dimension being time and the fifth dimension being all possibilities (in the fifth dimension, we are gay lovers and the rest!).

So, in one time line (4th dimension of) the fifth dimension, we are already rich and hugely successful traders. The object of a mantra is to connect with that 'other you' and pull yourself onto that time line -this can only be done by constructing the mantra in the present tense.

For example, 'I am so happy and grateful that I make £10,000 a month from trading'. Note the present tense and the introduction of an emotional element.

The theory is that if this is mindlessly repeated and enters the subconscious, a connection in higher dimensions is made with the ‘you’ in other dimensions who is earning £10,000 a month from trading and this connection can pull you onto that timeline. I would suggest 15 minutes when you wake up and 15 minutes before you go to bed as a minimum.

Interestingly, this should be a very pleasant experience – if not then your mantra is deeply at odds with your character and maybe trading is not for you.

On a more mundane level, the subconscious will start to believe that you are the sort of person who can and does (the illusion of passing time does not exist for the subconscious mind) earn $10k a month - or whatever figure you deem reasonable for your circumstances.

I started off by saying 'Personally' and I will finish that way - Personally, I found this technique to be extremely powerful and results can happen in about a month or two. Obviously, it has to be backed up with sound, practical action as well...

Of course, there will always be people who say it doesn't work for them but my answer would be that they approached the whole thing with the wrong attitude or didn't construct both a suitable mantra and the practical means to fulfil it.

I wouldn't knock any of that, just adding a different ingredient if I may the difference developing a winning mentality can have is surely massive in a discipline such as trading...?

When you analyse individual elite sportsmen at the top of their game, for example tennis and golf, they must have self developed/had professional help to construct a mindest that gets over the small set backs, bad shots etc. immediately...otherwise they'd quite simply never make it..

One of the most extraordinary feats I witness in sports are individual comebacks.

Tennis players down 2 sets and 5-3 in the last set that come back to win...most of us would simply not have the mental strength to remorselessly believe our game will change...a series of double faults (in our case 2-3 losing trades) and we might shut down the PC for the day...

 

[Black Swan]

the references to giving up smoking without difficulty a couple of posters have made, I wonder if that expresses or reveals a steely strength of mind that is actually a benefit to trading? Does it indicate a higher probability/greater leaning towards trading success?

 

[£10kLoser]

are there any texts or further primer info you can provide to elucidate this?

Probably the best work on this was done by James Ray in his book, 'Harmonic Wealth'.

As is often the case, the man himself (while extremely wealthy) has unresolved problems and is driven by these. He came unstuck recently while conducting some American Indian smoke thereapy rituals in which one or more people died. He is also a health nut and admits to be the biggest pill popper in the world (vitamins, etc.) so he'll probably die young...

 

[£10kLoser]

the references to giving up smoking without difficulty a couple of posters have made, I wonder if that expresses or reveals a steely strength of mind that is actually a benefit to trading? Does it indicate a higher probability/greater leaning towards trading success?

The example of smoking is interesting because it is, from a psychological viewpoint, it is one of many self-destructive habits. Along with drinking to excess and the more obvious self-mutilations such as piercing it reflects a subconscious desire to do harm to oneself.

In trading, it is very easy to do harm to oneself both emotionally and financially - much like gambling. It would be interesting to do statistics on smoking and trading. From one viewpoint you could argue that maybe the self-destructive element is used up in smoking (so making trading more likely to be successful) and from another you could argue that since the person has demonstrated a desire to self-harm, then they are more likely to blow up when trading.

Nothing is black and white but maybe the stats would show a bias in one direction.

Anyone who smokes, don’t bother to hotly deny that it stems from a subconscious desire to harm oneself!

 

[meanreversion]

Mark Douglas has an interesting way of looking at it. His belief is that beliefs themselves are little parcels of energy and cannot be changed. (I would admit his physics is a little ropey in parts, but whatever) We all have beliefs and they WILL come to the fore if they have energy. So for example, you might hate spiders - that is a belief with energy, and everytime you encounter a spider, you will react accordingly. However, it is possible to develop another belief, e.g. I like spiders, they eat flies, and then to transfer the energy from the "hate" belief to the "like" belief. The "hate" belief is still there (it cannot be destroyed) but it has no energy. The "like" belief now has energy, and enables you to look upon spiders favourably.

Where this applies to trading is that (I'm sure) the majority of traders probably believe they aren't going to make money. Losing money is then a validation of their own belief! It's a form of self harm. By remembering some simple rules (anything can happen, price action is in itself not threatening), it's possible over time to draw the energy out of the "lose" belief and to transfer it to the "probability" belief, where you accept that you can never know what will happen next, but you don't need to in order to make money. If you're trading with an edge, then over time you will come out ahead and be a winner.

 

[jtc172]

i love getting a cheeky winner, we all need as much luck in this game as we can get. However i agree with £10k loser..... if we could stick to our plans we would all win. This game is 95% about your head for me! strategies etc make up the difference.

 

[Splitlink]

the references to giving up smoking without difficulty a couple of posters have made, I wonder if that expresses or reveals a steely strength of mind that is actually a benefit to trading? Does it indicate a higher probability/greater leaning towards trading success?

My steely determination to give up smoking came with simple mix of marriage and economics. It's the financial stupidity of the whole thing that, after nearly fifty years without, that makes me ask

(a)how much tax I have avoided paying the state during that time.

and (b) what would my state of health be by now?

I found it very difficult to stop but, because I did, I reckon that my example has meant that our three kids have grown up non smokers. Well worth it.

 

[price777999]

Personally, I believe that we can reprogram our subconscious mind by means of a mantra. This is very controversial and I hesitate to post it here for that reason. So, please no negative feedback!

'The Secret' had half the idea, as did the original work on the subject, Napoleon Hill's 1930s 'Think And Grow Rich'. The missing ingredient is that by repeating things like, I want to be rich' just reinforces the 'want' aspect in the subconscious. Yes, you do want to be rich but wanting doesn't help!

The controversial aspect is to acknowledge that the subconscious mind works in higher dimensions - the fourth dimension being time and the fifth dimension being all possibilities (in the fifth dimension, we are gay lovers and the rest!).

So, in one time line (4th dimension of) the fifth dimension, we are already rich and hugely successful traders. The object of a mantra is to connect with that 'other you' and pull yourself onto that time line -this can only be done by constructing the mantra in the present tense.

For example, 'I am so happy and grateful that I make £10,000 a month from trading'. Note the present tense and the introduction of an emotional element.

The theory is that if this is mindlessly repeated and enters the subconscious, a connection in higher dimensions is made with the ‘you’ in other dimensions who is earning £10,000 a month from trading and this connection can pull you onto that timeline. I would suggest 15 minutes when you wake up and 15 minutes before you go to bed as a minimum.

Interestingly, this should be a very pleasant experience – if not then your mantra is deeply at odds with your character and maybe trading is not for you.

On a more mundane level, the subconscious will start to believe that you are the sort of person who can and does (the illusion of passing time does not exist for the subconscious mind) earn $10k a month - or whatever figure you deem reasonable for your circumstances.

I started off by saying 'Personally' and I will finish that way - Personally, I found this technique to be extremely powerful and results can happen in about a month or two. Obviously, it has to be backed up with sound, practical action as well...

Of course, there will always be people who say it doesn't work for them but my answer would be that they approached the whole thing with the wrong attitude or didn't construct both a suitable mantra and the practical means to fulfil it.

this is very interesting , i was just watching that documentary on National Geographic about space and time and the diferent dimentions..

but in light of this post , why the name 10kloser ??

 

[£10kLoser]

but in light of this post , why the name 10kloser ??

Because I once lost £10k in an afternoon trading gold.

People assume that's bad but maybe I made £20k each of the other four days that week...

 

[meanreversion]

The idea of re-programming one's style of thinking is central to "Trading in the Zone".

One way to enforce it is to devise a purely mechanical system and follow the rules without fail. Then the whole endeavour can be seen in the context of probability.. backtesting can highlight probable drawdowns and consecutive number of losing trades, etc. This then takes all emotion out of trading, and if the system has positive expectancy, you should expect to come out ahead.

Whether you trade system or discretionary, there will always be drawdown. With discretionary, there is no mathematical analysis to suggest what that might look like.. continued losing trades then start to damage the psyche and lead to altering of tactics.

There are many talented discretionary traders out there filling their boots. My suggestion when starting out is to attempt something mechanical (possibly alongside some discretionary) to get to the stage of taking emotion out of it. Success over time will lead to thinking like a winner.

 

[£10kLoser]

If people could 'follow the rules without' fail, most people would be winners, not losers. The whole point (and the point of having a psychology section here) is that people can't follow the rules.

Of course, the few that can say that this is the key to their success - which is totally missing the point that the key is their ABILITY to follow the rules. Probably 95% don't have that ability and so the game is already lost.

Advice like this is handed out all over the place and has hardly helped anyone! The theory is easy – it’s putting it into practice that is almost impossible without some serious work done on the underlying problem.

 

[TreyTzu]

use Ego as a tool to your advantage, it will take some mind tuning and how will you know your mind is tuned....when you stop worrying it about it

 

[moreliver]

My reaction to easy wins tends to be relief.

 

[wistundra]

If people could 'follow the rules without' fail, most people would be winners, not losers. The whole point (and the point of having a psychology section here) is that people can't follow the rules.

Of course, the few that can say that this is the key to their success - which is totally missing the point that the key is their ABILITY to follow the rules. Probably 95% don't have that ability and so the game is already lost.

Advice like this is handed out all over the place and has hardly helped anyone! The theory is easy – it’s putting it into practice that is almost impossible without some serious work done on the underlying problem.


Yes it is difficult to follow a trading plan. I should know,I lost my share and then some through the years. At first I did not reconize the importance of a trading plan. Believing that all I had to do was look for profitable trading opportunies and execute trades. Found myself over analyzing every trade.
Trying to find perfection that elusive at best.

I still believe a simple trading strategy is the best. Less trading and chart watching.

Trading is a very private occupation. We are totally in control of that mouse. The decision to buy or sell is ours alone. When we screw up working for someone else we will need to give an explanation of why we did not follow the rules ?? We give ourselves way to much discretion.

 

[Omoh101]

My reaction to easy wins tends to be relief.

After spending time and money to learn to trade, i don't think any win can be (or should be)considered easy because you have put in the work.

 

[The Expert]

Because I once lost £10k in an afternoon trading gold.

People assume that's bad but maybe I made £20k each of the other four days that week...

Au Contraire, some would say that is is a prerequisite for learning how to make good money trading, and fewer would say that it has to happen a few times before you actually will make good money.

It is only bad if you keep doing it, but at that level one will not have to endure the pain too long, no matter how much cash one has available for trading.

 

[N Rothschild]

i think you have to taste bitter defeat several times in order to learn the various lessons from the market. thing is people will probably give up after one kicking, or two but the third time could have been it..

obvisouly this could go on for ever and you always lose lol..but unless you think you are going to be the next george soros whats the point? you dont go into something one day hoping you will be "alright" at it..you go in believing you will be the greatest ever!

if you look alot of the people who "turned 5k into 6 trillion dollars then wrote a book about it" can bet the bank that it wasnt on there first shot!

"When things go wrong, as they sometimes will,
When the road you're trudging seems all up hill,
When the funds are low and the debts are high,
And you want to smile, buy you have to sigh,
When care is pressing you down a bit,
Rest, if you must -- but don't you quit.

Life is queer with its twists and turns
As every one of us sometimes learns,
And many a failure turns about
When he might have won had he stuck it out;
Don't give up, though the pace seems slow --
You might succeed with another blow.

Often the goal is nearer than
It seems to a faint and faltering man.

Often the struggler has given up,
When he might have captured the victor's cup.

And he learned too late, when the night slipped down,
How close he was to the golden crown.

Success is failure turned inside out.

The silver tint to the clouds of doubt --
And you never can tell how close you are,
It may appear when it seems afar;
So stick to the fight when you're hardest hit --

It's when things seem worst that you musn't quit!"