Sunday, February 21, 2010

A Great Post Link and I added 2 Pages on Psych Stuff

While reviewing my new pages on Psych stuff, I remembered that I had read something regarding pain on Dr. Brett's Traderfeed blog. I searched and found it: "...rarely do we stop to consider that trading is creating pain for 80% or more of its participants." Here is the link to his post: Painful Truths About Trading

As I read my 'bad-psychology' new page updates, I realized how much pain was involved in my transformation. I don't think it was a bad thing, since it worked, and I needed to go thru it. I wouldn't change anything considering where I feel I am now. Dr. Brett makes a good point though, that it surely isn't ever going to be mentioned in any list of requirements to get to be an improved trader! I can smile now as I say this. Also, what I went thru is similar, but certainly not a path required for other beginning or losing traders to take. It was just mine, although there will be some similarities, I would hope no one else needs to take that much pain! (still smiling)

There is a need, however, to somehow find out if the process and pain is actually beneficial. In my case, I knew it was. I don't know the answer, but in Dr. Brett's post, he does mention the destructive results some traders end up with, and that is a good warning. My unique circumstances worked constructively for me. I just can't list all of them here. That is where an outside opinion definitely would be worthwhile.

I am going on and on here as if I was a great trader already. So I'll end this here and work hard this week to continue my very small and very recent start at being the trader I need to be. I am very optimistic, however, and I will post my results this week. Gains or losses. Losses or Gains! - J

1 comment:

  1. I considered carefully what causes me the most pain in trading and I was surprised to realize it isn't losses, it's the way I manage my risk.

    If I manage my risk badly I will feel a lot of pain even if I come out profitable. So if I want to avoid pain I'll have to focus on that.

    Best of luck to you this week!