Michael618

[immy]

RIP the awesome Mark Douglas. He may not be with us anymore in physical form but he's left a great "legacy" for generations to come.

[Tomi]

He truly made fantastic books. Worth reading many times. Nice quotes in the post also.

[wiseambitions]

...learn how to redefine your trading activities in such a way that you truly accept the risk, and you're no longer afraid.


I think this means take small risks so that your future doesnt depend on the outcome of just one or two trades.

Then so long as your system has an edge to it, you will make gains in the long run and your stress levels will reduce because the outcome is what you get after 20, 200, 2000 trades, where you have stuck to your plan.

[Michael618]

I've meditated upon these texts that hit me
(thank you Immy for putting strong emphasis on Trading in the zone)
(although I read it few years back, my mind is readier now to understand better)

especially upon truly accepting risk

It goes really deep, back in time.
Fear of being wrong
which is the same as fear to do a mistake,
which is the same as fear of pain (you are forced by outside forces into situations you hate)
which is the same as fear of loss

it goes back, really back in time
it's about other's opinions (and of course, their power in child's perception)
(children will avoid fire after burn, but they will not stop exploring)
(parents and environment instead, insists with threats and blackmail, forcing children to conform)

So, fear of being Your natural Self
Because they will reject you, and you will be abandoned and you will die.
So, default basic fear, fear of death.

I know I have a natural talent for research, and understanding,
but I recognize in myself also that I exaggerate with it, purpose being actually to delay trading and discipline
exactly as mark douglas says, avoiding the fear/pain/mistakes
I recognize it myself, a fear of loss, not money, it's about pain, fear of pain, making mistakes

good

[Michael618]

...learn how to redefine your trading activities in such a way that you truly accept the risk, and you're no longer afraid.


I think this means take small risks so that your future doesnt depend on the outcome of just one or two trades.

Then so long as your system has an edge to it, you will make gains in the long run and your stress levels will reduce because the outcome is what you get after 20, 200, 2000 trades, where you have stuck to your plan.

It makes sense now
little by little, maintaining calmness and maintaining the zone,
while in fearful or stressful situations.
training to remain calm when confronting with the unknown
getting used to it

[Michael618]

i've playing around with risk management and excel
and it got quite flexible, compared with another excel on forum, but i forgot where i get that from

for everyone who might be interested


and I have a question about calculating lot size
I saw many instances (in books also) where multiple positions are taken
addons etc

well
for the 1st position, you calculate lot size from current balance

but what happens when you open 2nd or 3rd? (addons, or other markets)
from what account value do you calculate?
from balance value? from equity value?

[immy]

Account balance makes sense. but any would do as long as it is used consistently

[Michael618]

yes, balance makes sense to me the most.

now that i re-think, you cannot rely on equity as long as there are open positions
like the current candlestick, you have to wait for the candlestick to finish
then (re)assess the situation

great, balance it is then, one less mystery
thank you immy

[arjanbg]

I've meditated upon these texts that hit me
(thank you Immy for putting strong emphasis on Trading in the zone)
(although I read it few years back, my mind is readier now to understand better)

I know I have a natural talent for research, and understanding,
but I recognize in myself also that I exaggerate with it, purpose being actually to delay trading and discipline
exactly as mark douglas says, avoiding the fear/pain/mistakes
I recognize it myself, a fear of loss, not money, it's about pain, fear of pain, making mistakes

good

I actually can really relate to that. I am also am really good at research and proccessing information really fast and state things in a simple way. I think the AIMS books are really written in the same kind of manner. But probaly more in a more effective manner.

I also tend to delay with preparation and reading books. Altough it is really fascinating it creates several problems. It creates analysis by paralyses. Perfectionism And also a knowing doing gap which will proceduce inferior results. You may or may not recognize yourself in these points but I wanted to share my solutions as far as a I know.

If the majority of the lines up go for it, this really helps me with confidence. But go for it as though as you couldn t fail and only succeed. Go for it and give it everything you got from where ever you are now. In trading this has to be according to the trading plan or dots.

Go do one excersize to keep my mind in the right state of mind and then go and look for good setup. Then go and read a book. Excersizes can be found here http://www.itradeaims.net/forum/viewtop ... f=44&t=884 2nd post

Also If somethings take only 2 minutes or less do them immediatly, really helps.

[Michael618]

Hey, thank you work your suggestions, and support

everything you say, sounds right

i read your suggested post, and i found out i was doing power poses to prop up my psychological state, without realizing it, funny

and the suggestion with 2 minutes, interesting, sounds practical.
i would make it 5 minutes though, from now on, i'll try it, thanks.