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Do you believe that decisions in life can be treated like trades or would you say that treating things in life outside of trading with the same mindset is just asking for trouble or craziness?
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
iqgod
Mumbai, India
Legendary Market Wizard
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097
My take:
No, definitely not.
Trading and the markets is / are a raw tribal place, unlike life where there are costs associated with leading life your way.
Trading allows you to create externalities.
In economics, an externality is a cost or benefit which affects a party who did not choose to incur that cost or benefit.
You can kill huge and others will be handing you their full purses without so much as uttering a word.
Trading is about self control and staying on course.
Life is only mildly about self control. Stubbornness may or may not get you anywhere in trading but it will certainly do so in real life.
Actually as long as you learn something in trading it can be only this: it is Simple. Life needs to be a lot simpler and raw for it to be really like trading, something that I don't see happening soon.
Thank you for your detailed response, this is just the type of answer I was looking for. Not that I was looking for this answer specifically but you answered the question in a very reasonable and effective way that I was hoping someone would. I appreciate that you've taken me seriously and this will help me grow.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
I used to play a lot of inner-city pick up basketball. One term we used was "telegraphing", related to a pass, usually, but could be any sort of head-fake. The better players saw it, or did it.
GaryD
Orlando, Florida
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011
Pre-FOMC makes for a good mean reversion day. Estimates of both the top and the bottom worked very well today.
Post FOMC trading, is tomorrow...
GaryD
Orlando, Florida
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011
nailed two fucking markets today. Piper, and Piglet. Traded both at the same time too
GaryD
Orlando, Florida
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011
Here comes another year. I made my shopping list for my annual cleanse, did full cleaning and maintenance on all computers, and finally am deleting all those "Trading" files full of;
charts, backtests, training books and videos, indicators, journal entries, articles... 187,439 files that were way overdue.
2014 will not be so complicated.
GaryD
Orlando, Florida
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011
When you remove the emotion, trading nearly takes care of itself.