MightyOne wrote:Patch wrote:Welcome Tristalibur
You observe then ask, "Now what gets me confused is :why are there over a hundred systems(automatic or not)?
And when there is a good system,why do people always change??"
TRO might say people like to complicate things, someone else, someone has another idea, to make it a little bit better. MO says don't get stuck on a system and stop thinking and growing. I think people are people, not always logical or rational.
Get well fast. While using this time to learn and grow your trading muscles.
Good post Patch
Trading is like a poker game where one side comes to the table with solid mathematics and the other side comes to the table with solid mathematics and the ability to adapt to the tendencies of the other players.
It is pretty clear that the poker players that are armed solely with mathematics (a system) are going to be on the losing end of the stick.
They may make money if someone weaker sits down at the table, but they damn sure are not going to beat the professional without lady luck.
Even if a trader has solid price action analysis and is wildly profitable on his entries he could still not make it to $100,000 or even a $1,000,000 for purely psychological reasons.
What does money mean to you?
If you scraped together $400 from skipping 2 meals a day for 2 months and you grew your account to $1,200 you may be fearful because $1,200 is a lot of money to you.
It is often the case that a person will trade really well with a small amount and then trade poorly with a larger amount until he reaches his initial account balance.
If $1,200 was not enough to shake the trader then what about $26,000 or $43,000?
The affects of losing are magnified by the value (to you) of the money at risk.
Do you have what it takes to look at $100,000 and say that it would not bother you one bit if you lost it all?
But that is what it takes to reach a million dollars:
ZERO EMOTIONAL ATTACHMENT