It’s simply easier to fail over time. Especially when downside is unlimited. It takes one instance of weakness to blowup. Traders have no discipline, They’re quick to give up. It’s mental breakdown. They make one mistake, Then they compound them. They circle around pain points, Distract themselves from real problems. They spend time charting, They listen to podcasts, They read books … The easy stuffs. They tell you how to behave, But they won’t follow their rules. Don’t give up, Don’t be weak. Stay in control and Follow the plan. Tomorrow is another day (Only if you cut that loss). Take a break.
Right and when you ask them the plan it's to make a lot of money in a short time with as little effort as possible.
Why does anyone lose in life "double-bind" - the world works on double-binding everyone from your family to your girlfriend to your job, the financial markets are the leading experts, everything else is an interpretation how to break it, that is what a strategy is, that is what an edge is. https://en.wikipedia.org/wiki/Double_bind The only win is to not engage with it, how do you do that, well if it was easy we wouldn't have this. Institutional Platform License: $2mil Family Office Platform License: $200k Personal Platform License: $20k
When I mean knowledge, it covers everything that is knowledge (everything you know), and also the needed logical thinking to lead to a good solution. For example: know when to enter/exit and why mental discipline is important, so DO IT (mental discipline is part of the knowledge because you KNOW that you need mental discipline) execute your knowledge, don't just state what you should do but DO IT etc... Knowledge includes everything you know. No matter whether you execute this knowledge fully or not. So everything that has impact on your trading is part of knowledge (at least if you know the problem and the solution). Any one of the things on your list that can derail a trading day should be analyzed and solved. Executing everything is part of the knowledge as you know that not doing it will harm your results.
This is very good. And, I might add going on "Tilt" for the rest of the day. Which leads into your 3rd line. "It takes one instance of weakness to blowup"
You have no idea what poetry is if you think all poetry must rhyme. Here's two examples. One read, one heard... ---------------------- "The Death Of Goddesses It used to be hard for women, snowed in their white lives, white lies, to write books with that fine frenzy which commends genius to posterity, yet estranges it from its closest friends. Women were friends to all, & being too friendly they could not command the unfriendly prerogatives of genius, though some were geniuses still, destroying only themselves with the torment of the unfriendly ghost trapped in a friendly form. Oh the women who died dissembling friendship for the world! Oh the women who turned the dagger inward when it wished to go out, who impaled themselves on Womanhood itself! No vampire could be as greedy for blood, no father or husband as bullying. A woman punishing herself with her own pain is a fierce opponent indeed. It is self against self, dagger to dagger, blood of her blood, blood of her daughter, blood of her mother, her menses, her moon, all pooled together, one crimson sea. It is the awful auto da fé, the sublime seppuku, Sante Sebastiana as archer & victim too. The arrow flies from her bow. She runs, fleet as Diana, & stops it with her breast. Enough! cried the Women-Who-Cared. Henceforth we will turn our anger where it belongs. We will banish the whitest lies. We will speak the black truth as it is. Our father- we spit back their sperm. Our husbands- we spit back their names. Our brothers- we suck back our love. The self-righteous inherit the earth, & anger speaks louder that love. Love is a softness the weak cannot afford, & sex a Darwinian bribe. But who wants the earth as a gift when it is empty as space, when women grow hard as bronze madonnas & Diana loves only her stag? When Persephone stays in hell the entire year, then how can spring begin?" --------------------------
Don't be an idiot. Or do you think I'm an idiot? Good find. This is beautiful shit. I must say Erica Jong, along with Henry Miller, is like an indelible stain. Once you become contaminated with her works, you just can't get rid of her.