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Thread: "Zen masters" of trading

  1. #1
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    "Zen masters" of trading

    Hi there!

    There is a popular myth that professional trader should be like "zen master", never letting greed and fear appear in his mind. This idealistic picture has nothing similar with reality.

    In fact, professional traders are quite different people. One can be really calm, other can be very emotional.
    But what really distinguishes pro from amateur - pro never brings his emotions to trading.

    There is one funny example, that Mike Bellafiore (Mike is an owner of large proprietary trading firm in NY) tells in his book "Playbook". Traders were sitting near their workplaces, suddenly one of them sreamed and broke the keyboard. Nobody said a word, and he just gave him a new one. In the end of the month, this trader will be charged 25 USD and that's it.

    So, emotions are normal, we can't eliminate emtions and this is not realistic.

    I would suggest to focus on more realistic goals - to follow your plan, to increase self-awareness or to execute your trades better. But not to eliminate emotions. The more you trade, the less emotional pressure you will have. It's natural thing and if you fight emotions you won't win.

    Maybe if pressure is unbearable, it's useful to lower you risk.

    Another famous example is well-known George Soros. He was so emotional, that he felt pain in his neck when something was going to go wrong.

    Bottom line: don't fight it, focus on what you can change. There is a lot to change in your trading :)

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    Last edited by Value trader; 08-09-2013 at 01:09 AM.

  2. #21
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    well every trader as an iota of emotion in them because this is what we know will always happen to traders because traders are humans and humans are always with emotions so what we can now do is try as much as possible to reduce the effect of the emotional feelings that we might have on the business to the bearest minimum so that it will not really affect our judgement .

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  3. #22
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    Everything is OK. But whenever I start trading, I forget everything after some losing trade I start gambling with the market to recover my lose. What to do? to get rid from this problem.

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  4. #23
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    Quote Originally Posted by bangla4all View Post
    Everything is OK. But whenever I start trading, I forget everything after some losing trade I start gambling with the market to recover my lose. What to do? to get rid from this problem.
    that is the problem of most new and inexperienced traders, it is called revenge trading. If you want to correct this problem you have to first be determined to study more to learn how to do proper analysis and anytime you have a loss just try to stop trading and learn from the mistake and dont ever double your lot after any loss.

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  5. #24
    Trader opan's Avatar
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    I also feel the same way that forex trading is indeed very, very good and we can not leave, it sometimes we've set a stop loss, but although there has been a stop loss we still can not leave the forex trading, but if we've set our stop loss can leave but still a trading name very, very bad idea.

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  6. #25
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    Yes if we are more greedy and fear to open trade then we are loss our money.The forex trading is risky bussiness so do not more greedy here.If you are greedy here then one day you are loss your money and also if you are fear to open trade then you are cannot gaining your account.So do not more greedy and not fear to open trade.

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  7. #26
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    Quote Originally Posted by Jinnat View Post
    Yes if we are more greedy and fear to open trade then we are loss our money.The forex trading is risky bussiness so do not more greedy here.If you are greedy here then one day you are loss your money and also if you are fear to open trade then you are cannot gaining your account.So do not more greedy and not fear to open trade.
    indeed this forex trading business is a very risky business, so we must be careful and extremely grateful to be able to have a lot in forex trading, because it means we can be grateful to survive in forex trading regardless of income that we generate and we will not this is the result of greedy extremely larger than the loss.

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  8. #27
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    Quote Originally Posted by bangla4all View Post
    Everything is OK. But whenever I start trading, I forget everything after some losing trade I start gambling with the market to recover my lose. What to do? to get rid from this problem.
    One thing you should know is that; traders are liable to more emotion if they are losing to the market the more. That is why you should take hold of yourself whenever you are trading the market, it will not pay you to do trading like that.
    Believe me also, there is no trader that will fight things for you, you will fight it for yourself.

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  9. #28
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    All you do about forex should be carefully gone able all the time. Many traders are seeing forex to be a place of peace, it is not like that when they enter into the trading. Traders do not look well when they do trading when they are under the bad influence of the market, Emotion is not good, this is one that traders have not been able to make adjustments to.

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  10. #29
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    Greed is a very bad side of forex trdaing , it is that because some traders that are greedy will not know that they are greedy. And if you do not know your problem, how will you then solve the problem? I have made many things on greed before i know my stand out. Also, the issue of fear is inner feeling, it may make you if you can control it or break you if you fail to control it.

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  11. #30
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    Quote Originally Posted by newentry View Post
    i see, after read some words from you, so we need to focus and do it with harder, need discipline and patience to support everything, and also how to control the emotion then we can see that there are some points which we need to learn, and i guess, to make it simple, we only need to use something easy to undestand and follow our basic or style
    discipline and ability to control emotion is a treat that must exist inside every forex trader before he starts to make gains,and some people have these qualities naturally and some people don't but the good news is that these qualities can be acquired and you can learn them by experience and continuous practice and learning from mistakes.

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    Bend your view to the charts, not the charts to your view

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