These articles are so good! Psychology gems in the context of trading. I used to game a lot excessively and then got drawn to trading. A different kind of game. Pain led me to both, and I’ve gotten too attached to both at different points.
This article reminds me of a quote by Al Pacino’s character in the movie Two for the Money: “Because we constantly need to remind ourselves we're alive. Gambling's not your problem. It's this ______ up need to feel something. To convince yourself you exist. That's the problem.” Can totally relate to that. Sure many traders can
Thank you Joe! Interesting to know that! Are you overtrading at the moment?
Didn't see the movie but what a great quote! Addiction comes to fill the whole in your identity. You need to get attached/identified with something, that becomes an urge, almost like survival!
Yeah it becomes like survival! I haven’t been overtrading, but been too loose in my risk management. The last few weeks have been profitable, but there were two trades where it could’ve all been undone because of improper risk management. The market went back up to my entry and I sold around breakeven both times, but neither case should’ve have happened. Aside from being a lesson to not panic sell, it really motivated me to rethink my strategy, risk management, SL, position size, psychology, etc. Doing things the “right” way is not as easy or exciting, but in this case I think it’s worth it
These articles are so good! Psychology gems in the context of trading. I used to game a lot excessively and then got drawn to trading. A different kind of game. Pain led me to both, and I’ve gotten too attached to both at different points.
This article reminds me of a quote by Al Pacino’s character in the movie Two for the Money: “Because we constantly need to remind ourselves we're alive. Gambling's not your problem. It's this ______ up need to feel something. To convince yourself you exist. That's the problem.” Can totally relate to that. Sure many traders can
Thank you Joe! Interesting to know that! Are you overtrading at the moment?
Didn't see the movie but what a great quote! Addiction comes to fill the whole in your identity. You need to get attached/identified with something, that becomes an urge, almost like survival!
Yeah it becomes like survival! I haven’t been overtrading, but been too loose in my risk management. The last few weeks have been profitable, but there were two trades where it could’ve all been undone because of improper risk management. The market went back up to my entry and I sold around breakeven both times, but neither case should’ve have happened. Aside from being a lesson to not panic sell, it really motivated me to rethink my strategy, risk management, SL, position size, psychology, etc. Doing things the “right” way is not as easy or exciting, but in this case I think it’s worth it