Useful things I've found on the Net.

BSD said:
Ja, just read them, great summaries.

Another element I'd like to add as a key factor to outstanding success on top of those principles you found summarized in those articles, is to treat life like a game, take it seriously enough, but play it lightly !

If you want to achieve something and approach that all strung up from fear of failure you won't be too likely to attract success in no matter what it is you want to achieve.

Instead approach your objectives with a firm belief in outcome - which is totally different than firm belief in process or method etc when starting out - approach your tasks well prepared after you found out what is success relevant but then without a care in the world otherwise, have fun, laugh, be yourself without the weight of the world on your shoulders, and chances of success are far higher, will demand far less energy than fighting and clawing your way to your objectives.

Thats what you have with your mechanical trading, thats what does that for you, offering you a path where you can relax and have confidence in outcome.
Click to expand...

BSD said:
Hi Travis,

I think to a large extent our expectations and beliefs drive our reality.

Hard work has really never been anything I associate with success, to me it's more about figuring out what works, and then just doing it.

I honestly believe that not much about life outside of rocket science is particularly complicated, least of all trading.

Not to say that it is always easy, but figuring out the success relevant ingredients to get from A to B is generally simple enough, even if the journey may sometimes be rocky.

My guess would be that the reason you didn't make it as a discretionary trader is not because you didn't work hard enough.

It's because it simply didn't fit your personality.

And, second of all, because you were overestimating what you can do short term, while underestimating what is possible long term, you were shooting for 100% / month with a style that didn't suit you.

Not really the best recipe for making it ?

What I try and do when at a crossroads, or thinking, should I, shouldn't I ?

I let my intuition decide, I envision the respective scenarios and go for the one that feels best.

I am sure that if you feel and see yourself achieving your trading objectives with your automated trading, that that will simply feel far better than if you imagine yourself getting there through discretionary trading.

So next time the urge overcomes you again to put on a trade outside of your mechanical system remember the negative feelings that conjured up for you and just let the urge pass away.
Click to expand...


good attitude posts markus

some good ones in this e-chain mail the mrs forwarded to us

fits quiet well in here me thinks ~


Subject: 7 percent

Written by Regina Brett, 90 years old, of The Plain Dealer, Cleveland , Ohio

"To celebrate growing older, I once wrote the 45 lessons life taught me. It is the most-requested column I've ever written. My odometer rolled over to 90 in August, so here is the column once more".

1. Life isn't fair, but it's still good.

2. When in doubt, just take the next small step.

3. Life is too short to waste time hating anyone.

4. Your job won't take care of you when you are sick. Your friends and parents will. Stay in touch.

5. Pay off your credit cards every month.

6. You don't have to win every argument. Agree to disagree.

7. Cry with someone. It's more healing than crying alone.

8. It's OK to get angry with God. He can take it.

9. Save for retirement starting with your first paycheck.

10. When it comes to chocolate, resistance is futile.

11. Make peace with your past so it won't screw up the present.

12. It's OK to let your children see you cry.

13. Don't compare your life to others. You have no idea what their journey is all about.

14. If a relationship has to be a secret, you shouldn't be in it.

15. Everything can change in the blink of an eye. But don't worry; God never blinks.

16. Take a deep breath. It calms the mind.

17. Get rid of anything that isn't useful, beautiful or joyful.

18. Whatever doesn't kill you really does make you stronger.

19. It's never too late to have a happy childhood. But the second one is up to you and no one else.

20. When it comes to going after what you love in life, don't take no for an answer.

21. Burn the candles, use the nice sheets, wear the fancy lingerie. Don't save it for a special occasion. Today is special.

22. Over prepare, then go with the flow.

23. Be eccentric now. Don't wait for old age to wear purple.

24. The most important sex organ is the brain.

25. No one is in charge of your happiness but you.

26. Frame every so-called disaster with these words ''In five years, will this matter?".

27. Always choose life.

28. Forgive everyone everything.

29. What other people think of you is none of your business.

30. Time heals almost everything. Give time, time.

31. However good or bad a situation is, it will change.

32. Don't take yourself so seriously. No one else does.

33. Believe in miracles.

34. God loves you because of who God is, not because of anything you did or didn't do.

35. Don't audit life. Show up and make the most of it now.

36. Growing old beats the alternative – dying young.

37. Your children get only one childhood.

38. All that truly matters in the end is that you loved.

39. Get outside every day. Miracles are waiting everywhere.

40. If we all threw our problems in a pile and saw everyone else's, we'd grab ours back.

41. Envy is a waste of time. You already have all you need.

42. The best is yet to come.

43. No matter how you feel, get up, dress up and show up.

44. Yield.

45. Life isn't tied with a bow, but it's still a gift.

It's estimated 93% won't forward this. If you are one of the 7% who will, forward this with the title '7%'.

I'm in the 7%.


Friends are the family that we choose for ourselves.


OJB


still working on a few of them :)


later

Andy
 
Something new I was thinking...

The reason I can't do discretionary trading is that I actually enjoy breaking the rules, in every area of my life. I go to work late on purpose, I go to bed late, I continuously bend social rules being an anti-conformist. I think actually many traders might have the same problem because one approaches trading because he enjoys the independence it gives you, so it may very well be that people who become traders are people who don't like rules, and yet, to succeed at it, you actually have to respect rules more than anywhere else, whether you trade discretionary or automated, but at least trading automated means only respecting the single rule of not touching your system, whereas discretionary is a continuous test of your discipline, and "rule-breaking people" like me (and other traders) are not fit to do it.
 
COUPLA PAGES AGO...i think nine and bsd said the things. about buying retracements and dips.

and buy when it goes up and sell when it goes down.
So this is momentum trading isnt it?

buying dips is trend trading? swing trading?
 
More thoughts on my psychology affecting my trading and my life.

Too many restrictions and rules by my parents as a child and teenager made me develop an allergy for rules, even my own rules. As a consequence, years later, I find myself leading an unhealthy and irregular life that makes me feel free by making unhealthy choices every once in a while, rather than a healthy and regular life that makes me feel like I am following healthy rules such as "early bed early rise" for example. Most of the time I feel a strong unconscious urge to go to bed late, or go to work late, and so on.

In discretionary trading this psychological problem has caused me to lose money for 12 straight years. I managed to build my automated systems in the meanwhile and now I am making money by letting them make all the (regular and healthy) choices. I am left wondering if I can ever fix my daily life problems in a similar manner, by allowing an "automated system" to make optimal choices for me. Because for example I would like to be rested in the morning and go to work on time, but there's something inside me that each night doesn't let me go to bed on time. No psychologist was ever good enough to tell me, and I wasn't smart enough to figure out by myself enough to fix it. I have a sense that too many "healthy" rules as a child (my father is a fault-finding hyper-critical control freak) are what now is stopping me from leading a healthy life according to healthy rules, because I'd then feel like I am obeying my dad, whereas since the age of 14 I've started a never-ending rebellion against him and his rules. The reason could be another one, but this is my best guess.
 
travis said:
More thoughts on my psychology affecting my trading and my life.

Too many restrictions and rules by my parents as a child and teenager made me develop an allergy for rules, even my own rules. As a consequence, years later, I find myself leading an unhealthy and irregular life that makes me feel free by making unhealthy choices every once in a while, rather than a healthy and regular life that makes me feel like I am following healthy rules such as "early bed early rise" for example. Most of the time I feel a strong unconscious urge to go to bed late, or go to work late, and so on.

In discretionary trading this psychological problem has caused me to lose money for 12 straight years. I managed to build my automated systems in the meanwhile and now I am making money by letting them make all the (regular and healthy) choices. I am left wondering if I can ever fix my daily life problems in a similar manner, by allowing an "automated system" to make optimal choices for me. Because for example I would like to be rested in the morning and go to work on time, but there's something inside me that each night doesn't let me go to bed on time. No psychologist was ever good enough to tell me, and I wasn't smart enough to figure out by myself enough to fix it. I have a sense that too many "healthy" rules as a child (my father is a fault-finding hyper-critical control freak) are what now is stopping me from leading a healthy life according to healthy rules, because I'd then feel like I am obeying my dad, whereas since the age of 14 I've started a never-ending rebellion against him and his rules. The reason could be another one, but this is my best guess.
Click to expand...

Let it go man....One day he won't be there...there is nothing more important than the people in your life and you should consider this now not later :)
 
Yeah, thank you, I understand. Not the first one who tells me so.

-----

I just thought of yet another problem with discretionary trading: after you lose some money, the urge to make it back makes you look for opportunities, lose your objectivity, and make trades that are not convenient.
 
Wonderful Advice.

Thank you for the advice. It is all sound. Although I must admit....the line "It never goes away, this quiet panic that most traders live with.", is slightly terrifying. I find the more successful I am, the more I get that heart pounding rush of blood in my ears when I pull the trigger.

:eek:

Kind Regards,
Terri
 
Nine, would you recommend any particular RAM Disk software? And how exactly do you sync disk with RAM?

Thank you
 
Hi

travis said:
Yeah, thank you, I understand. Not the first one who tells me so.

-----

I just thought of yet another problem with discretionary trading: after you lose some money, the urge to make it back makes you look for opportunities, lose your objectivity, and make trades that are not convenient.
Click to expand...

Travis... In my opinion if you focus your main objectives and stay on the track then its hard any barrier could come in your way. ;)
 
Hi

I want to share some thing which I found.... Its a business website which give you access for free to communicate with many buyers or sellers of things at negotiable prices... My advice is to check it out Dailytrader.com..:clap:
 
Jolie said:
I want to share some thing which I found.... Its a business website which give you access for free to communicate with many buyers or sellers of things at negotiable prices... My advice is to check it out Dailytrader.com..:clap:
Click to expand...

Not quite the type of trading we're involved with though Jolie. :confused:
 
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