Comments on: Learning to See What’s Hidden http://www.triffx.com/trading_psychology/learning-to-see-whats-hidden/ Developing Terrific People into Terrific Traders Mon, 07 Mar 2011 19:50:33 +0000 hourly 1 http://wordpress.org/?v=3.0 By: yaqui http://www.triffx.com/trading_psychology/learning-to-see-whats-hidden/comment-page-1/#comment-1076 yaqui Mon, 14 Jun 2010 17:11:44 +0000 http://www.triffx.com/?p=1837#comment-1076 Early on in my trading timeline, and for the longest time, I had this big confusion over whether I could get this to work. I knew it was possible, that there were people who were successful at this, as well as the grim, well-bandied percentage (5 vs 95%) of profitable traders. But was it possible for me?? There was such a huge disparity between where I was and where I wanted to be. And I spent alot of time, alot of time, bumping into things, unclear if even this was what I wanted to do, unsure whether I could fit this into my life or my life around it. There were alot of question marks and I often wondered if I was just wasting my time and my sanity, lol. The path of a trader is certainly an interesting one... It wasn't until I began to take this seriously, to treat it as a business instead of a hobby, to do the work, especially on myself, that things started to pay off. I'm still not there yet, forever a work-in-progress, but I'm grateful, loving the challenge, and wouldn't change it for the world! "Remember, awareness precedes clarity, which precedes choice, which proceeds action, which precedes success!" ~ Robin Sharma Some thought-provoking Qs, thanks Triff!! ;) Early on in my trading timeline, and for the longest time, I had this big confusion over whether I could get this to work. I knew it was possible, that there were people who were successful at this, as well as the grim, well-bandied percentage (5 vs 95%) of profitable traders. But was it possible for me??

There was such a huge disparity between where I was and where I wanted to be. And I spent alot of time, alot of time, bumping into things, unclear if even this was what I wanted to do, unsure whether I could fit this into my life or my life around it. There were alot of question marks and I often wondered if I was just wasting my time and my sanity, lol. The path of a trader is certainly an interesting one…

It wasn’t until I began to take this seriously, to treat it as a business instead of a hobby, to do the work, especially on myself, that things started to pay off. I’m still not there yet, forever a work-in-progress, but I’m grateful, loving the challenge, and wouldn’t change it for the world!

“Remember, awareness precedes clarity, which precedes choice, which proceeds action, which precedes success!”
~ Robin Sharma

Some thought-provoking Qs, thanks Triff!! ;)

]]> By: yaqui http://www.triffx.com/trading_psychology/learning-to-see-whats-hidden/comment-page-1/#comment-1074 yaqui Mon, 14 Jun 2010 17:07:11 +0000 http://www.triffx.com/?p=1837#comment-1074 Mmm Fulfilment... I agree wholeheartedly Hutch. Risk - as a trader, ultimately that's all we can control right... Mmm Fulfilment… I agree wholeheartedly Hutch.

Risk – as a trader, ultimately that’s all we can control right…

]]> By: Aby David http://www.triffx.com/trading_psychology/learning-to-see-whats-hidden/comment-page-1/#comment-1069 Aby David Mon, 14 Jun 2010 11:25:56 +0000 http://www.triffx.com/?p=1837#comment-1069 I'm not sure there is anyone out there who is a pure risk taker, all those hot shots who take humanly crazy risks, are at the end of the day taking what to them is already calculated as they already know where their boundries are, those who play the lottery/powerball and such like are taking calculated risks, would they still buy a ticket if it was $50 or $100 ? What is missing is how I've decided to balance that all out ... and for me its down to experiance, at this point i am not a major profit guru so I have to look more at my losses than at my profits, but if things turn around 1 day, I'll look more at my profit than at my loss. but whatever happens, I'm not sky diving out of anything ... but I will watch someone else do it ;-) I’m not sure there is anyone out there who is a pure risk taker, all those hot shots who take humanly crazy risks, are at the end of the day taking what to them is already calculated as they already know where their boundries are, those who play the lottery/powerball and such like are taking calculated risks, would they still buy a ticket if it was $50 or $100 ? What is missing is how I’ve decided to balance that all out … and for me its down to experiance, at this point i am not a major profit guru so I have to look more at my losses than at my profits, but if things turn around 1 day, I’ll look more at my profit than at my loss. but whatever happens, I’m not sky diving out of anything … but I will watch someone else do it ;-)

]]> By: hutch http://www.triffx.com/trading_psychology/learning-to-see-whats-hidden/comment-page-1/#comment-1065 hutch Fri, 11 Jun 2010 10:04:40 +0000 http://www.triffx.com/?p=1837#comment-1065 Amazing how much of myself I saw in the article. Not quite skydived, but I did 'convince' myself to paraglide. I say convince as I think I was trying to proove to myself who I was - like Triff says - 'a risk-taker'. Perhaps I was more trying to push the boundaries defining who I am and what I'm prepared to do. I took a voluntary severance package from my workplace to concentrate on my Property and Trading businesses. I weighed up the odds, did a worst-case 'what-if'' analysis and took the plunge. Some said this was risky. Perhaps, but I looked at it more from the 'Pain-Pleasure' principle. Instead of asking 'isn't it risky to leave a secure job' (whatever that means) I asked 'What will be the ultimate pain in years to come if I never at least attempt to pursue my dream?' Viewed from that angle, the pain of underachievement and a job I did not enjoy became too much as, potentially, I 'risked' a future of unfulfillment. In this I learned a valuable lesson: I'm motivated more by avoiding pain than I am by gaining pleasure. Pain motivates me more than pleasure. In my trading I find I subconsciously concentrate more on my Stop Loss point than my Profit Target. Works for me and keeps me calm in a trade as I know what the ultimate risk - the ultimate pain - can potentially be ... Amazing how much of myself I saw in the article. Not quite skydived, but I did ‘convince’ myself to paraglide. I say convince as I think I was trying to proove to myself who I was – like Triff says – ‘a risk-taker’. Perhaps I was more trying to push the boundaries defining who I am and what I’m prepared to do.

I took a voluntary severance package from my workplace to concentrate on my Property and Trading businesses. I weighed up the odds, did a worst-case ‘what-if” analysis and took the plunge. Some said this was risky. Perhaps, but I looked at it more from the ‘Pain-Pleasure’ principle. Instead of asking ‘isn’t it risky to leave a secure job’ (whatever that means) I asked ‘What will be the ultimate pain in years to come if I never at least attempt to pursue my dream?’ Viewed from that angle, the pain of underachievement and a job I did not enjoy became too much as, potentially, I ‘risked’ a future of unfulfillment.

In this I learned a valuable lesson: I’m motivated more by avoiding pain than I am by gaining pleasure. Pain motivates me more than pleasure. In my trading I find I subconsciously concentrate more on my Stop Loss point than my Profit Target. Works for me and keeps me calm in a trade as I know what the ultimate risk – the ultimate pain – can potentially be …

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