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self sabotage

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SimonPB
Valued Contributor
comemnt from HG in another thread .. google "self sabotage +trading" and you'll find a bunch .. first point is recognising it and then you're half way home ..

I got through it with rigid discipline and process for my trading .. clearly defined what to do when, what I am doing and why etc ..
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13 REPLIES 13
earlyret
Regular Contributor
well i'm halfway there, because I know what my downfalls are, just having the discipline to stick to what works for me. The last few months have been a whole lot better, just every now and then I seem to lose focus!!
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SimonPB
Valued Contributor
an the problem is that all it takes is ne disaster trade, and you can give back months and months of profits ..
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HateGauteng
Super Contributor
Been there done that!
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earlyret
Regular Contributor
absolutely!
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Not applicable
How lovely a mechanical trading system would be that could sit and watch out daily for entries/exits and then fire off automatically. Would eliminate a lot of psychology. Will we tell our grandchildren in 30 years about back in the day when we used to do trades manually...
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Not applicable
And mechanised computer trading is already starting to have an effect on the JSE as well, apparently that's why the average amount of a trade is coming down.
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klapka
Super Contributor
For me that then begs the question, Why do we need brokers? We could deal directly with the JSE. It might actually make trading profitable?
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SimonPB
Valued Contributor
two reasons .. firstly, I have habots .. secondly, the JSE doesn't want to deal with thousands of individuals ..
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Not applicable
And of course thirdly - less commision for the middlemen. Oh hello Simon.
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SimonPB
Valued Contributor
no, that was point one .. my habits ..
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Not applicable
By looking at your photo from ticketalk - probably a regular tanning salon bill :0
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john_1
Super Contributor
Guys...ones own beliefs ultimatley determine the outcomes of your trading. There is no way arround that. This is why trying to illimate ones emotions is pointless. One has to understand firstly ones Ideas about money, about success about work and work ethic. One has to understand the role greed plays in giving back money to the market (how often do you exit a trade then go back in to try get a bit more only to see your profits evaporate)...this is what it is ALL about its the reason we try make a few rules to start with and its the reason we don't stick to them...I would really like suggest that this is what you focus on... triggers and stops are easy and they become easier when you get to know yourself better. I believe this is what trading gives you way and above money..it allows for you to journey into the world of true self discovery.
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stores
Super Contributor
Well said John
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