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The goal for a trader is to develop a system with which he is compatible.
- Ed Seykota
I did not know that there were two parts not one. The first part, because our was so obvious, was of course trading technique.
I had it all written down in great detail - when to buy,when to sell, when to stay out.
This whole set of rules were intellectual in nature - at least that's how they appear on the surface.
However it took a long time to find out that trading is 20% intellectual and 80% psychological.
I took a long time to discover my emotional constitution. Whenever there was no connection between my rules and my methodology EMOTIONALLY, that time was when I lost most capital.
Then came the next round where I thought I was self aware but still kept liking for answers OUTSIDE. It took another bout of capital erasure - almost as if it were a rite of passage though it doesn't have to be.
The way it worked out for me was when I could sense the emotional undercurrent that my rules implied. Use your emotions as pointers. Your profit and loss statement tells you if your emotional side is working.
It sometimes doesn't take long for an account blowout. After the event we are confronted with "What the he'll just happened?"
The reason this happens is because there is no harmony and connection between technique and self awareness. If that is the case THE VOICE THAT SHOUTS LOUDEST cones from the most antagonistic person currently in their life.
Unless there is a conversation with an INNER VOICE of self, unless THAT is the voice that is listened to there can only be trouble.
The other real roadblock, shared between artists and traders is social pecking.
Especially your concept of the self as a person works against you. When every iota of your life has been expended on being right, indeed being 'successful' is unambiguously based on it, striving to be correct takes automatic precedence over 'facing defeat' which is what taking a loss feels like.
Most traders I know say the same thing: They KNOW what to do but they are not able to DO it. They know that they won't make trade after trade that is profitable, they know internally that losers are part of the game.
Basically it boils down to eating mathematical expectation for breakfast every morning and digesting it so that it is what fuels your trading for the entire day.
I am having quite a remarkable time at the Aurovalley Ashram.
India is a remarkable place.
I tried trading between the mediation sessions !! - this was a bad idea because this place has support internet connectivity being in the middle is nowhere!
What happened was I took a quick scalp top be excited a few ticks beyond. The direct edition took in my but order but before I could place the target and stop the connection we've kaput.
So I ended up babysitting this trade with a lot more MAE than I like - the consolation being that as a result of focused mediation I was able to observe my emotions more subtly and identify the root causes e.g. I am unable to converge the fact that when I am right on an IDEA but off on execution my demons ask for some 'time please' and I end up giving me wiggle room for the trade.
I am sure this isn't a viable strategy. Meanwhile peace to all and I will be going to the ashram library to read ' Essays on the Gita' now.
The Eurusd is stuck in a huge range - in the muscle of my mediation sessions there is a bit of time so traded a bit
The whole concept of trading sometimes mirrors what is really going on in the life of the trader. Yesterday I had exhausted myself after an impromptu trip to Rishikesh, a pilgrimage and adventure town on the River Ganges. So my trading too suddenly became slip shod and sluggish. Traders, I need to stay at the top of my game
Man, I just glimpsed into this journal the other day and fell in love right away. Trading is a very deep inner journey and one of the best self-development tool/activity I have been able to find. May I ask if you employ Vipassana during your active market hours, to see where your execution and management decisions sprout from and how the market behavior effects your inner state?
Good luck on your meditation
“Happiness is the meaning and the purpose of life, the whole aim and end of human existence.” Δ
“There is no path, but only a fool wouldn’t follow it.”
Yes of course, Vipassana is an integral part of my life and trading.
There is just this one issue:
When I am actually self aware and conscious of my state then I am able to react better to the market state. However there are certain triggers which lead to an unconscious escape from this state and that was where my problems lay.
To counter this I take help of a biofeedback device.
In the following video the lower portion is the readout of my biofeedback device. It is not foolproof but any bit of help for staying in the zone is helpful!You can see that there are two fan lines which indicate 'The Zone'.