My perception of reality

Beginner Questions
1

No particular reason for this post

I stumbled upon the whole financial market trading thing about three years ago, with no prior in-depth knowledge about its existence, let alone the technical, fundamental and emotional aspect which could contribute to the volatility of the market.
My perception of reality when trading is that I need only two things to be a consistently profitable trader, the mental discipline and a reoccurring technical cue, everything else is irrelevant.
I am not a constantly profitable trader due to only acquiring one of the two attributes I believe to be my “holy grail”, I have a reoccurring technical cue but I haven’t completely grasped the mental discipline to wield the technical cue. I guess I view trading as a medieval battle ground where you need your sword to attack (reoccurring technical cue) and your shield to defend (mental discipline), I need my technical cue to enter trades and my mental discipline to follow a pre set plan of action for any of the following scenarios:
I. The market moves up
II. The market moves down
III. The markets gaps
When I’m trading the trading plan, I am a consistently profitable trader, but when I deviate from the plan despite how little I may think it is, it all comes crashing down. Overall, I can end up with losses several times the amount that was initially intended which in turn evokes a certain mind-state and that certain mind-state is accompanied by emotions which restrict me from reaching my true goal.
I own 11 books : Way of the turtle, Fooled by randomness, The strangest secret, Exceptional trading: The mind game, Trade chart patterns like the pros, Sun Tzu - The art of war, Trader Vic – Methods of a wall street master, The dow theory, The power of habit, Using your brain-for a change: Neuro-linguistic programming and a dictionary & thesaurus.
Only a few of these books really opened my eyes to the way that I should approached trading (before and after), I personally believe trading is a un-bias mirror of myself, so for me to achieve my true goal I need to first learn and understand. . .

2

Hey Bud, keep 1 thing in mind, Thousands have read those books, its how you use the knowledge, that matters most…

The hardest part of this business, is IN THE MIND.

[B] I guess I view trading as a medieval battle ground where you need your sword to attack (reoccurring technical cue) and your shield to defend (mental discipline), I need my technical cue to enter trades and my mental discipline to follow a pre set plan of action[/B]

That is exactly it Bro.

Some people need a daily mental boost, like words or video, or even a pat on the back, to gear purpose and steer the high seas, and to visualize whats waiting for you on the tail of success.

Trading isnt the hard part, its your mental wiring…

I dont own books, and to this day, I have never read any trading books, in my 32 months of being in Forex. I did have Art of War, but only read like 4 pages…

See You at the Top, By Zig is the only book I have read, Since school, actually…

My mind wonders when I read…

Good post bud, dont be affraid to throw these posts in the forum… At least your not asking questions like, " What does Demo Mean?

Great profits to ya,

*HatTip

3

As pointed out, it is how you use the info and not just reading it. Everyone can read, but comprehension is a different subject. Furthermore, it also depends on the quality of the information you get and just because a book is popular does not mean it is a good source or correct information.

4

Thank you for sharing.

I am on guard against falling into the trap of thinking ANYTHING is not worth my attention. The human mind has a tendency to want to simplify complex situations and things rather than accept them for what they are. It is an ongoing battle in all areas of life.

My interpretation of forex thus far is it is extremely complex and any simplification of it can only cause a distorted view and therefore reduced potential.

As an overall guiding philosophy to mastering forex and developing an effective ever expanding trading strategy my plan is to collect knowledge and not stop, in time that knowledge will hopefully become harder and harder to collect as my accumulated knowledge and wisdom moves closer to the realm of mastery.

On a most basic level the trading strategy I am working towards is collecting low risk tactics so that eventually I may have enough of them to build an effective reliable trading plan.

Now while I say I am on guard against falling into the trap of simplifying things and not seeing them for what they are, I know for a fact I will fail in many ways but hopefully not too many ways.

Keep fighting the demons mate, never assume you know enough, about anything.

5

Over Complication leads to disaster

6

I agree with this.

Over complication leads to disaster.

Over simplification leads to disaster.

See things as they are.

7

oooo I like that. I’ma borrow it sometimes. :slight_smile:

8

I think this statement is worth remembering…

[B]“What you hear, you forget; what you see, you remember; what you do, you understand”[/B]

Same apply in trading. No matter how many books we read or any classes we take, if we didn’t actually apply it or do it it’s worthless… So Do it!..and Get it done ;). If you ever watch the “The Blue Colars” comic show , I hope I don’t sounds like Mr. Larry The Cable Guy that says [I]GIT-R-Done[/I] lol…my family loves him…