Anthony > Recent Status Updates

give them dedicated, thoughtful, present, intentional time and attention.

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The words on humans needing a social life, friends etc, as well as the chapter on making yourself invaluable in your work, are exactly what I needed to hear right now. I needed to hear what my subconscious was screaming about.

We need to talk. People need to talk, to organize their actions and thoughts. They need social groups.

Patterns imply consistency, but the reality is that each pattern is entirely unique. The similarities are simply on the surface. Each pattern has different traders contributing to it, as such it is entirely unique.

You will never know anything for certain except that the market will move one way or the other or react to something in a certain way. So look at each trade with indifference. All you can "know" is that each trade should have a certain probability, which you want to be favorable to you, of going in a certain direct given past moments.

Let go of having to "know" everything. Every moment is unique. If it's not unique, everything is known or knowable.

Look at the market for what it is right now. Be in the zone. You wouldn't feel bad or slighted at upticks or downticks in a part of the market you never trade in, so don't feel that way in the markets you are invested in.

you should not be upset about a bad trade, just as if you're not upset over a coin toss that comes up heads when you called tails.

sure, you should learn from it. but you can never know everything, and sometimes a trade goes bad.

The most important and fundamental building block as a trader: The uncertainty principle.

The core of your ability is to:

1. trade without fear or overconfidence
2. perceive what the market is offering
3. stay focused on the now
4. spontaneously enter flow state/the zone

all good traders believe in uncertainty and know ANYTHING can happen, at all times. thus they're free of unrealistic expectations

Understanding and accepting the risk is one of the most important but most often misunderstood aspect of trading. the novice goes into it neither accepting nor assuming there will be loss in that trade.

the possibility of being wrong/losing/missing out would hinder the novice's mental state of mind

Consistency is more important than almost anything else. if you consistently win a little, rather than occasionally winning a lot, you'll be far better off.

because if you lose, you will know how to consistently win

Don't try to overcome, conquer, or take revenge on the market. learn the market to create a systematic way of consistently winning, rather than trying to beat the market.

don't expect or believe that the market owes you anything. the market inherently wants to take all of your money. but it also offers the opportunity to take as much as you can.

The typical trader does not have the ability to control and conform the market. So the typical person who is highly successful, who is able to conform the social environment to what they want/their mental picture, they are unable to do this with the market. so they may fail to succeed in trading.

Remember that individual trades can be considered random in the sense that you have a chance that it can lose. but a consistent strategy over a period of time and many trades will yield consistent results, thus this group of randomness is no longer random, but consistent. this consistency shows you if these trades are winning or losing trades.

More importantly, though, is that different people are naturally curious about different things.

every child is curious, fundamentally. curiousity is a "natural force" in a unique way, as curiosity will drive the will of an individual to act.

It's important to get into trading for the right reasons. it's easy to get into it for the wrong reasons. (hero complex when winning, pity complex when losing)

trading allows for flexibility to trade how you choose. billions of trading options allow for unlimited ways to fail, and only a finite number of ways to succeed.

You need to be confident and absolutely trust yourself. You have to train your mind. YOu can try to eliminate risk, aka black hole of analysis.

OR, redefine trading activities, where you fully accept the risk. This is the way.

The 4 primary trading fears:

1. attitudes to being wrong
2. losing money
3. missing out
4. leaving money on the table

get rid of these!

The best traders aren't afraid. They're not afraid of the risk, they're equally not afraid of admitting they're wrong and closing a trade for a loss. They aren't afraid because they've developed attitudes that allow for the most flexibility.

The same traders prevent themselves from getting reckless. So they are afraid in the right way.

The best traders not only take the risk, but accept and take responsibility for that risk. There's a psychological gap where a typical trader might take the risk but not fully accept it.

Remember, trading is inherently risky.

There are reasons the best traders consistently out perform the rest. The best traders think differently - IE have different way of viewing their trades and the psychology around it.

Psychological gap: the diffence between predicting what the market is going to do but watching it happen without taking action, and actually getting in and making a play off of your prediction

Only a finite number of traders participate in the market over a given time period, and that group produce collective behavior patterns. these are observable and quantifiable.

tech analysis creates patterns off these behaviors

Fundamental/Technical analysis was rare and crazy at first. wall street didn't use it for awhile.