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aliassmith
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Postby aliassmith » Fri Jun 06, 2014 5:28 am

Jalarupa wrote:I was afraid that one day I may be successful and all the changes that come with such success...

Its scary to think that your life may be completely different in 5 years from now, where now money is such a important commodity for survival, to one where money is so readily accessible that it becomes a afterthought and not a focus...

I don't need a lot to survive and don't want to be stinking rich, I like to keep things simple,

When I see how 'easy' (I say this with the deepest respect) some traders make this profession I get worried, I donno its almost like I feel that its not possible for me to get to that level, so that is also a worry...

And if I ever get that good, then the worry will be things like the NSA and Black Helicopters...

I don't know if any of this makes any sense but that's the head space I am in right now...


Being in that state of mind sounds self defeating. Yes your trading account can change dramatically in 5 years, but you need the emotional currency to get there. There are people that make millions trading so no-one is coming after you. :D
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Jalarupa
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Postby Jalarupa » Fri Jun 06, 2014 5:43 am

I know you are right... I will work on my emotional hang-ups thanks for the reality check ;)
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

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Postby withnail » Fri Jun 06, 2014 10:25 am

Another good video from Futurestrader71 Risk, Scaling, Probabilities and Trade Management http://www.youtube.com/watch?v=q_dYsUnoiLI

Just watched that nice vid.

Thinking of the rule of 70 helps me with trading math.

7% a month 70/7 ~ 10 months to double
2% a trade 70/2 ~35 net losses to half you account

70/0.5% = 140 periods or net wins/losses to double or half your account
70/1 = 70
70/2 = 35
70/4 = 18
70/8 = 9 .. seeming small increases make a significant difference

0.5 makes my account indestructible.

6-8 regularly makes it grow nicely over time.

Profit cushion is the bridge from one to the other.

Use some of said gains on an extreme it would be rude not to.
Last edited by withnail on Fri Jun 06, 2014 9:24 pm, edited 2 times in total.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.

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Captain Pugwash
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Postby Captain Pugwash » Fri Jun 06, 2014 11:59 am

Jalarupa wrote:And if I ever get that good, then the worry will be things like the NSA and Black Helicopters...
.


I'm sure you'll be OK Jal - I don't think Helicopters are designed to get up those mountains :) - I'm surprised you can breath enough to trade up there!
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Postby Captain Pugwash » Fri Jun 06, 2014 3:23 pm

withnail wrote:Another good video from Futurestrader71 Risk, Scaling, Probabilities and Trade Management http://www.youtube.com/watch?v=q_dYsUnoiLI

Just watched that nice vid.

Thinking of the rule of the rule of 70 helps me with trading math.

7% a month 70/7 ~ 10 months to double
2% a trade 70/2 ~35 net losses to half you account

70/0.5 = 140 periods or net wins/losses to double or half you account
70/1 = 70
70/2 = 35
70/4 = 18
70/8 = 9 .. seeming small increases make a significant difference

0.5 makes my account indestructible.

8 makes it grow nicely.

Profit cushion is the bridge from one to the other.


Thankee Withnail those nice n simple sums are worth putting on a pc post it note

Another great vid Alias, I hope Big Mike Can forgive me for plagiarising one of his presentation slides

Image
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

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Postby aliassmith » Fri Jun 06, 2014 4:02 pm

I like what Futurestrader71 does, I wouldn't trade like him, but his supporting information is useful.

I also like this video from Mark Douglas http://www.youtube.com/watch?v=GhKJ9P3agRc

There is much more to this business than analysis! :shock:

Way to much on this website to comment on
http://brettsteenbarger.com/articles.htm
Brett had to stop making public posts because he works for a PROP firm.
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Postby Captain Pugwash » Fri Jun 06, 2014 4:29 pm

aliassmith wrote:I like what Futurestrader71 does, I wouldn't trade like him, but his supporting information is useful.



Agreed - its pulling useful stuff out to add/support your OWN trading ideas that's important - that coin toss section was very good

Thanks again for the useful links
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

aliassmith
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Postby aliassmith » Mon Jun 09, 2014 5:15 pm

Wonder if there will be a setup off of this trend line :idea:
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aliassmith
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Postby aliassmith » Mon Jun 09, 2014 5:18 pm

Currently reading: The Power of Habit: Why We Do What We Do in Life and Business
http://www.amazon.com/gp/product/081298 ... d_i=507846

And... Thinking, Fast and Slow

http://www.amazon.com/Thinking-Fast-Slo ... t+and+slow
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aliassmith
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Postby aliassmith » Wed Jun 11, 2014 5:12 pm

aliassmith wrote:Currently reading: The Power of Habit: Why We Do What We Do in Life and Business
http://www.amazon.com/gp/product/081298 ... d_i=507846

And... Thinking, Fast and Slow

http://www.amazon.com/Thinking-Fast-Slo ... t+and+slow


The Power of Habit: Why We Do What We Do in Life and Business
It was interesting and useful if you have habit/s you want to change. :shock:
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