my journal

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As said I've switched to Linux and that I think msn requires windows and netmeeting or what it's called. Really, I've lost interest in chatting and conferencing/webcam things long ago. So why should I do things I don't like? No thanks. PM or email is sufficient for this.

Probably too late and rather irrelevant given that you don't want to use it anyway, but just FYI: Linux has many messenger clients supporting the MSN protocol. (Pidgin to name one, Emesene to name another, Empathy to name yet another.) Ubuntu Linux includes Pidgin or Empathy by default depending on which version you use.
 
This is one actor that picked good movies throughout his career, John Turturro:
http://www.letmewatchthis.com/index...rector=0&actor=652&search_rating=0&advanced=1

Al Pacino was in the best films of the 1970s and early 1980s, but has been making crappy movies for decades. For example, movies like Heat (and almost all of Pacino's recent movies) or Ronin for De Niro, I call that selling out. You make a movie for the money they give you, and not for how valuable that movie is. Another thing: Goodfellas is a masterpiece, but Casino is just a copy of that. In my opinion that's crap as well.

I would divide movies between art and entertainment. Art is the kind of movie where typically Turturro stars in. Entertainment is Nicole Kidman, Tom Cruise, Demi Moore, George Clooney, etcetera.

Steve Buscemi is art. Harrison Ford is entertainment.

De Niro and Pacino were very very good art, and now they're mostly just into entertainment.

Some did both, like Johnny Depp. Mostly art, but some entertainment as well. I mean "entertainment" in a negative way, as "cheap entertainment", because actually "art" movies entertain me more than "entertainment" movies.

Typical entertainment directors are Spielberg and Cameron. Regardless of how everyone calls their works masterpieces and so on. Except for these two, the other "entertainment" directors do not become famous.

The ones who become famous are the "art" category. Alan Parker, Hal Ashby, Coppola, Tarantino, Scorsese, Woody Allen... even though, just like the good actors, some of them have also been tempted by selling out. For example, the colour of money and the departed by Scorsese is selling out. Godfather part 3 by Coppola is selling out. And so on.
 
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check out Lance Beggs

Check out this Lance Beggs guy I found:
http://www.yourtradingcoach.com/About-Me.html

Seems pretty good to me. I can tell he's honest and helpful just by reading this:
...4. What is the purpose of this website?
•Aren't you just sick and tired of some of the hype on the internet these days. "Buy my $97 system and you can be trading for a living by next week." Seriously, how ridiculous is that. And yet people keep falling for this over and over again - myself included - I've lost track of the number of systems & strategies and ebooks that I've purchased over the years that just weren't worth the time it took to open the file. And the number of 'multi-thousand dollar' seminars I attended before realising that the material covered is no different from what's available in a $30 book. (Actually, only two of these seminars for me - but that was two too many). THIS IS NOT THE WAY TO LEARN TO TRADE. Hopefully through this website I can help save someone else from taking this long detour on the road to trading success.
•My aim with this website is to bring a bit of honesty and integrity back into the world of online trading education. Thankfully, I'm not alone in this regard, and so I look forward to promoting some of the other 'honest' resource sites & blogs.
•The primary focus will be on the often neglected, but more important, parts of trading - business management, risk management, money management and trading psychology. I know, it's not as sexy as a 9/18 ema crossover, but it's MUCH more important.
•Updates to this website will be as I have time available - kind of just a part time hobby at this stage. My priority is, and always will be, my own trading.

Actually there's a part here that I have to quote, because it answers questions I've been debating back and forth with wprins. It addresses those issues like 100%, dead on target:
7. I know what many of you are thinking: "Ok, so if you're really a trader then why aren't you just trading? Why aren't you sitting on the beach in the Bahama's, sipping a Pina Colada, while trading from your laptop? You're really just in this for the money, aren't you."

• Yeah, right. I see this all the time in forums. Trading seems to be the only business in the world (that I know of) in which the public are totally sceptical of anyone who teaches, or shares their methods. Perhaps that is very much deserved, given all the rubbish and the hype that exists in the marketplace. It's unfortunate though. The fact is that there is some real quality information out there amongst the rubbish. Hopefully I can help provide some quality. Not all trading educators are a fake. Yes, I'm sure many are - I know a few educators personally and seriously doubt some of them trade. However there are others who do trade.
•So why do I do this? Firstly, I enjoy teaching. In Aviation Safety, one of my primary roles is education. I enjoy it. I also consulted for another company a couple of years ago teaching options trading. I enjoyed it. So, it's quite natural now that I'm trading for myself that I'd want to also teach other people. Ok!!!!
•And yes, it does make me money. Well, at least that's the plan. I subscribe to the theory of multiple streams of income. I suggest you seriously research this topic as well. Trading should not be your only source of income. Build other income streams - both active and passive. (Maybe that's another topic for some future website articles.)

Check out his resources as well:
http://www.yourtradingcoach.com/Trading-Resources.html
 
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As tomorrow's market open approaches, I feel increasingly drawn to the markets. But the real test will not be tomorrow. It will be weeks and months after my recent 3000 dollars loss. The test will be harder after a few wins. It's easy to be immune from your trading addiction right after a huge loss. But you're not cured.

I have a craving for action, and trading satisfies it in some way. I satisfy my thirst for action by moving money, taking big risks, and trying to gain more money, which will then give me more power to act. It is not a coincidence that my favorite movie is taxi driver: a guy who unleashes his full desire and potential for action (and kills a bunch of people).

Where did I get this predisposition for addictions?

I am not a psychiatrist of course, so I'll do some guessing. I think I got from the relentless anxiety coming from my father. Checking, double-checking, scolding, yelling... lecturing... reminding... correcting.

In my house there's never been any serenity.

How am I making this wild guess and this behavior could be connected?

Lack of serenity and continuous checking and compulsive double-checking means you cannot sit still.

Lack of serenity means you have to do something compulsively all the time: working, reading, talking, writing.

That's how my father is, and that is how he made me become, by example and by teaching.

So the connection is actually pretty straightforward: if you're unable to sit still and stay calm and serene, what are you going to do when you're in front of your trading platform? You're going to trade. Regardless of whether there's opportunities for you to seize.

Compulsive people do not make good traders. Frustrated and nervous individuals do not make good traders. I suppose. Or whatever: I do not make a good trader. Enough with my generalizations.

I'd have to become a healthy individual before being able to trade discretionary properly. Therefore I might never be able to trade discretionary. Because I might never become healthy, and then my compulsiveness won't go away, nor my trading addiction - nor any other addiction.

For example, my parents just left now. And I felt relieved. The whole day they were home, and I was mostly locked in my room.

My mom is not a problem, but she is a problem to the extent that she married my dad and puts up with him - on the other hand if she didn't put up with him, since he wasn't willing to change, they wouldn't have married and I wouldn't be here.

Basically my mom puts up with him the way he is. How is he? We're at lunch for example and he won't care about anything you have done during the day, neither about me nor about my mom. If we talk, he doesn't look interested, neither nods nor says anything to show he's listening. So if we ever start saying anything, after feeling that we're talking to a wall, we just stop talking.

So the silence begins, as far as our talking about something we'd like to say.

But then we know we have a choice. He is not only willing but eager to talk and be asked. But not really questions and answers: rather questions followed by a lecture. Like a student would ask a professor to explain something. So what we've learned to do, my mom and I, in our lifetime with my dad, is let him lecture us. We ask him about politics mostly. And then he teaches us and goes on talking for hours. But then we have to provide more questions, because we know that's what he likes and expects. Pretty sad that he basically forced us to adore him like a great academic in order to have any relationship with him.

So I often just grow frustrated with this type of relationship and leave during his lecture. The most frustrating part is when I happen to speak let's say about one of my favorite subject, and he starts lecturing me even on my favorite subject. Say we were to talk about taxi driver (which of course I would never do): he knows it's my favorite movie, but nonetheless he'd try to teach me something about de niro. He's not willing to listen to anything I or my mom say.

So this is very related to trading.

A frustrated father chooses a submissive wife who lets him be however he wants to be, and then he creates a dysfunctional family, and a son who cannot trade, because of how frustrated he is.

A dysfunctional family creates what Larry Harris defines a "futile trader", who expects to make money but who doesn't, because of his "emotional problems":

72270d1261862165-journal-fool-ddd.jpg


Whether I am stupid or intelligent does not matter, because my "emotional problems" interfere with my "mental capacity" enough to blind me and make me unprofitable.

I don't know if I can say that all unhealthy individuals cannot be profitable, but I can say that I am unprofitable only because I am unhealthy. There's nothing else keeping me from being profitable. There might have been before, when I certainly didn't have an edge, but not now. Now the only thing keeping me from being profitable is impatience and compulsiveness. I know exactly when the good moments to trade are, but I feel like doing other things. I feel the urge to act in the markets, regardless of consequences.

I need to either have a capital big enough to just trade automated - the method works and I can do, and did in the past, all the while being an unhealthy and irrational and disturbed individual - but I don't have enough capital. Or I can address my personal problems, which trading brought to light so well and clearly. I need to address these psychological problems, because even if I had a lot of money and just engaged in fully automated trading, I would still be at risk.
 
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Ok, after all, this is not something I have: certainly not as bad as these guys (video above). I am troubled but I don't have OCD. I have a "normal" compulsive gambling addiction (videos below).


"A total escape", "a way to avoid your problems", "...my heart would race..."... it all applies to me (video above). "Other impulse-control disorders are associated to compulsive gambling..." (part 3 of video above).



The difference between compulsive gambling and compulsive trading is that while you do compulsive trading you might actually pick up some understanding of the markets, so your cure is not just quitting like for gambling, but you could also go from compulsive trading (and losing) to making money. So this makes trading much better.

On the other hand it also makes it more dangerous, because since you might actually be trading to gain a better understanding of it, you won't be able to spot your own gambling. With gambling, to me it's perfectly clear that I don't have an edge, whereas with trading it is not: also because the Math is harder than for the roulette. (However, for poker you could have an edge, so it will be just as hard to spot). For example, I never gambled in my life at anything other than trading: no cards, no video poker, no online poker, no lottery, nor betting of any kind. Because I knew I didn't have an edge. But with trading, I always thought I had an edge and that the profits were just about to happen. Whereas instead i was just gambling like all the other guys I looked down on.

Another thing I am thinking about is this: in the Against all odds documentary they say that 95% of gamblers are healthy and get fun out of it, no addiction and move on. The remaining 5% doesn't get the same type of fun but gets hypnotized and stays addicted to it. Well, I was thinking that for traders vs compulsive traders the percentage of healthy traders might be lower.

I have found this good link from the Against all odds documentary:
http://www.ncpgambling.org
 
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The safety net is the equivalent of the stoploss. If you don't use it, every once in a while, your account dies.

 
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True? It could be true. Or it could be to encourage others to do the same (for real).

 
Ok, right now I am allowed to trade. Let's see what happens to my state of mind: if I'll feel my heart rushing, I'll stay away from trading.

My task is harder and easier than the regular compulsive gamblers in the videos above. I have to keep on trading, but doing it the right way. It's as if you told an alcoholic that he has to keep on drinking but no more than one glass per day. It might be harder than to stop altogether.

And, even with good results coming in, I don't have to like it or I may risk to relapse into gambling. I must not rely on it as a source of pleasure at all. It'd be best if I saw it as a burden, like brushing my teeth.
 
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I have looked at the markets and they look pretty still. I noticed that my eyes still light up with excitement when I look at the markets, which is not good. Emotions and greed are the ones making my eyes light up.
 
Ok, I looked once, I looked twice, and then I made the trade. And I have no safety net. I am already up 120 dollars. I went LONG 4 contracts on the ZN, the guy responsible for my 3000 dollars loss of last week.

Guys, I did it again!

Yes, relapsed. The reason is... I saw a great opportunity, it was the ZN, which I had been observing for weeks... the guy has been doing nothing but going down for weeks... I mean a bounce is way overdue. AND: I want my money back. Full scale gambling, but this time I might make money.

Snap1.jpg

Now just give me 1000 back and we might make peace.
 
HI travis,
This was posted earlier on another thread by tomorton ------ do yourself a favour and print it out and attach to your screen
The Rules of Trading

The Trade

1. Trade with the trend – no trend, no trade

2. Plan the trade, trade the plan

The Entry

3. Wait for the signal

4. When the signal comes, don’t wait

5. A weak signal is still a signal

6. Trade what you see, not what you think

The Exit

7. Never let the profit go back into the market

The Stop-Loss

8. Set a stop-loss on entry

9. Always obey the stop-loss

10. Don’t wait for the stop to be hit, start cutting losers early

The Sins of Trading

1. Trading against the trend

2. Trading without a stop-loss
 
Hey, thanks for reminding me of that. As you might have noticed I had already recommended such post (the one you're quoting).

In general, my behaviour above (the gambling) is not reasonable. But in this case, this one time... it will work, and I will make 1000 back and make peace with the ZN, which at Christmas time is important.

Now I'll go watch my movies and not start behaving like an addict, by continuously checking how my trade is doing.

In a sense I feel I could have had a stoploss in place, but using it would feel like bad luck. It's like saying: why do you want me to place a stoploss when I am positive my trade will be profitable. It's as if you told me to go on vacation with a coffin in case someone dies. ("Bring a coffin with you, just in case...").
 
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