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Showing content with the highest reputation on 11/22/2022 in all areas

  1. 1 point
    Chapter 1 - Disciplined Trader 1st entry: W - Either in the beginning or at some point early in their trading career, all traders experience confusion, anxiety, and the pain of failure. The few traders who pass through this phase to accumulate wealth are those who eventually confront and work through some very difficult psychological issues about what it means to be a trader, and this process of realization and change normally takes several years, even for the best of them. A- I think Mark is explaining the huge undertaking trading really is psychologically to us and explaining it well. A - I came in expecting so much so quickly....that is a characteristic that served me well and helped me excel quickly in other areas of my life. I really respect and understand at this juncture that to be able to call myself (one day) a professional trader; I will really be more well adjusted and balanced psychologically than I ever imagined. This honestly makes me very happy. If I have one life; I want to go for it all. Lots of money is appealing, but becoming the very best version of myself for myself, my family and everyone I know is also incredibly appealing to me. Maybe I am an odd bird, but that is ok. I dig this and want to keep growing and becoming that amazing version of me. 2nd entry: W- Furthermore, I discovered that my mental framework was structured to avoid losses at all costs and in my desperate attempts to do so; I actually created them. A - Mark is explaining his psychological make up coming into trading and what he worked through... A- I had to add this as one of my W's because this is my #1 issue. I am able to overcome it at times with extreme focus/discipline/deliberate practice/etc. I can usually "let go" on my initial trade, but slowly something deep in me rises to the surface and starts avoiding losses (at least that has been the cadence this week and it has been really choppy which sets me off more to avoid risk/loss). It is something I continue to work through and if I could pick 1 thing I hope to take from book club - it is to work through this issue and really let go of this fear and become friends with RISK! I am also working on just deliberate practice and "building proper trading habits" which I discussed last week in the chat room (if anyone heard/remembers)! Happy Thanksgiving! You and our community are in my thoughts & prayers. Be safe and enjoy the time with your loved ones:)
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