03-15-2021, 10:09 AM
(03-15-2021, 06:35 AM)samba99 Wrote:(03-14-2021, 02:50 PM)MegaMan Wrote: I would kindly disagree here Samba. Not all markets behave equally, correlation can mostly be observed between two asset-pairs of one asset class and even then it is not guaranteed that the same strategy will yield good results across both asset-pairs.
A Sub centered on Trading would be great and I full-heartedly second this request.
Out of curiosity, what would be the difference/benefits of a Trading Sub for a trader versus listening to UMS or UMSL while trading? There seem to be these big Subs that include many things and then there are very focussed ones and I am often unsure how they differ.
Live long and prosper
MM
Maybe it's true but as you suggested
I am not talking about a strategy sub im talking about building a sub that will put trader in the right mindset. Finding a suitable strategy for certain market is rather simple task. what is difficult is to execute and stick to the strategy.
What I am saying is there are only two mindsets in trading, the losing mindset and the winning mindset. Its all about beliefs. I have attached a link for one author for you to look into what I'm talking about.
I am just not sure if UMS can point you in the correct direction with trading ( I'm testing it out as of now).
Unfortunately I can study the material that these psychologist present and I can do it all day long. But chances that will change how my subconscious mind behave is slim because as Shannon understands already, these parts may not even understand logic.
What link? Do you mean the article by Rande Howell?
I can only speak from my own experience. My journey in the markets started when I overcame my fear of losing the invested money. I did not do it by myself but simply because the shame of missed returns and the fear of missing, even more, returns overwhelmed my fear of losing the investment.
For a single trade, this is near the worst mindset one can have, but in my case it got the ball rolling. It was like an instant switch in my mind "F*ck this I am going in NOW and I do not care if I lose everything I put in".
So that was when I started several years back and surely I made some mistakes, learned from them, and kept going.
A few months back I was in another situation like this. There was the opportunity to invest in a new asset class that I did not understand and so I didn't want to put money in it. I put researching it off, time and time again. And then one day I had the same switch in my mind as when I first started. Grabbed a sum I was comfortable with and went in. It was successful.
So what I can conclude from my own experience is that you do not need a course on trading psychology or some new winning mindset technique for success. You need to overcome your fear and get started.
A strategy or plan will be the result of experience.
May your efforts be rewarded
MM
