Quote:
Originally Posted by CandleWhisperer » Thanks for this valuable thread, but with all due respect, wouldn't a better prism to view the market from be:
The market is a free for all buffet- All I have to do is collect my money. The market is a friendly place; the market will provide.
Call it the "Law of Attraction" or whatever. But do most of the successful traders you know, view the market as friend or foe? I am trying to work on my mental program (read demons) and nothing I have seen would suggest to see the market as anything other than a place where money can be made easily. |
Yes..you can do that after you let that demons go. First is recognizing it, then forgiving yourself for making mistakes, then accepting it as your friend as it is and loving it. Its a good way too.
All depends on who you are. Candy works for some, the belt and the stick works for others.
I know traders who are excellent, and they treat the market as a wild beast, and are not shy about what they are doing to traders when they 'take their money'. It works for them. If they adopt the 'law of attraction' then they may not do as well..and who knows...maybe they already tried that.
Know thy self, and do not force your 'should' rules on anyone else. In your beginning the search is to find what works for you. It is a waste of time to try to convince anyone to see it any other way than the way that is going to help them survive the beginning years, and eventually make some money.
In my personal view, the market is a place where the big take advantage of the small, and the small need to find a way to see where the money is going and follow them. You need to trade like a local. You need to be very diciplined, patient, practical, and cautious. In my trading I have little room for wish fulfillment or emotional considerations about the cosmos for my trading. In my prayers I do wish for it to be easy.
Yes, it is a candy store....eventually. But misjudging it in the beginning can cause you a lot or pain. It is a place where money can be made...easily??? Maybe one day if you get your act together. Pretending it is so after a few winning weeks will come back and bite your head off. The traders with lots of successful experience can either help you see the reality clearly, or they can paint it with starry eyed wonder and wish fulfillment and charge you plenty for their help. I doubt that if you sat down with any successful trader who has no personal financial interest in you, that they are going to tell you the market is anything other than a place to be very careful, a place where the sheep will get slaughtered, where the un-diciplined will get ripped to pieces, where most people go broke because they fail to see it clearly, or understand why they are in it.
I am so sick and tired of brokers, tool vendors, trade coaches, moderators, and pundants who paint the market as a place to make money easily. It is a place where 90% of trader fail miserably...period. That is a cold hard fact.
01-23-2009, 01:28 AM
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