Monday, November 06, 2006
11/6/06 Mental conflicts!
I have been really working on some mental trading issues (yes, I know, I need lots of mental help!). I have been going through a course from Van Tharp. It really doesn't teach you how to trade at all in fact there it very little that has to do with the day to day activities of trading... entries,exits, stops etc...
What it does have to do with is the mental hurdles that make up 90% of the trading game. It is those that I am finally dealing with. In particular the internal conflicts I may have that prevent me from following my plan. I think I have 2 major ones that I've identified so far (hopefully no more!). 1. Fear of success because I don't feel like I deserve success. 2. Guilt. I want to avoid the feeling of guilt for being greedy or selfishness. I'm not really sure about the greedy part since I don't make money daytrading yet but..... LOL
Trader X
What it does have to do with is the mental hurdles that make up 90% of the trading game. It is those that I am finally dealing with. In particular the internal conflicts I may have that prevent me from following my plan. I think I have 2 major ones that I've identified so far (hopefully no more!). 1. Fear of success because I don't feel like I deserve success. 2. Guilt. I want to avoid the feeling of guilt for being greedy or selfishness. I'm not really sure about the greedy part since I don't make money daytrading yet but..... LOL
Trader X
