Impact of trading environment on your P&L

[ShaunWhite]

I don't wanna take this thread massively off topic,

...but you're trying to

This guy's a million miles from needing to get into your level of detail. He's just trying to deal with a couple of dickheads atm.

[spreadbetting]

My problem is: - anyone can be a psychology expert, but not everyone can be a trading expert.

Bit of a sweeping statement, I'm sure plenty of psychologists would disagree with you

Depending on your interpretation of 'trading expert', I could easily teach someone to do what I do and that'd give them the potential of a very healthy salary but certainly couldn't get someone to pass a psychology degree. Whether they were able to capitalise on what I'd teach them would all come down to their mindset/psychology as trading just isn't win, win, win and there's usually a few big losses thrown in to shake up the mix.

I'm not a big fan of the way psychlogy is touted on the forum, as it does seem to be a carrot on a stick a lot of the time, but in order to maximise your edge manually trading, and even botting, you do need that resilience/mindset/pschology to ensure you stick to the plan.

We could even argue you'd benefit from spending time working on your own mindset/psychology, Simon, as despite having numerous 'edges' you're still reluctant to actually apply them in the market with real money. From what I can gather you obviously want to hone these 'edges' to the nth degree to understand exactly why they're there, whereas the majority of us would simply try and cash in whilst we can and learn alongside them operating.

[JasBarrow]

Btw what's their negativity centered around, their own issues, or are they dragging you down about your business/hobby/career/2nd job (or whatever trading is to you) ? Either you need to detatch yourself from their problems, or remind them that your life isn't their concern.

Their negativity is centred around themselves and their own issues and life experience. Its not aimed at me at all, they're actually nice guys I've lived with them both now for almost 3 months, one of them I knew socially before moving in with them. Their both different though, the first guy who I knew previously just moans about everything, no matter what the issue he'll find a fault and complain about it so thats the first type of negativity. The second guy is more negative about himself, constantly feeling sorry for himself but doesnt have the ambition or motivation to improve his lot. just happy to plod along without trying to change anything. Practically every conversation you have with him about any topic will eventually come back to talking about himself and his issues and problems so thats the second type of negativity. Even my girlfriend said how depressing the place was and she was only there an hour!

I spent the first couple of months trying to be a good housemate by listening and offering advice where I could but it didnt change anything so I'm just at the point now of having to smile and nod and try to avoid them as much as I can without creating any tension. We dont argue and we get along fine its just not good for my glass half full approach to life!

I suppose the trick is to try and build a bubble around yourself but when dealing with the same issues day after day its not easy. Positivity is definitely a state of mind but the environment we live in has such a massive effect.

[ShaunWhite]

Btw what's their negativity centered around, their own issues, or are they dragging you down about your business/hobby/career/2nd job (or whatever trading is to you) ? Either you need to detatch yourself from their problems, or remind them that your life isn't their concern.

Their negativity is centred around themselves and their own issues and life experience.

I recongise the dynamic you describe, at least you're fully aware of it. It might come down to just trading when you feel right about it for now, and maybe fill the more negative days with videos, reading, playing with results spreadsheets and looking at data. Like a golfer hitting that shot, clicking 'back' is just the culmination of all the study and practice. There's a lot you can be doing other than playing the ladder, that's time well spent too.

If you can't resist playing on the ladder, at least adjust your stakes. Rate your attitude out of 10 and scale your stake accordingly. £2 on ify days, more when you're on fire.

[JasBarrow]

I recongise the dynamic you describe, at least you're fully aware of it. It might come down to just trading when you feel right about it for now, and maybe fill the more negative days with videos, reading, playing with results spreadsheets and looking at data. Like a golfer hitting that shot, clicking 'back' is just the culmination of all the study and practice. There's a lot you can be doing other than playing the ladder, that's time well spent too.

Yes good advice, I've been trying to be more aware of how I feel in the moment lately when getting involved in a market, probably all I can do for now.

[ShaunWhite]

Yes good advice, I've been trying to be more aware of how I feel in the moment lately when getting involved in a market, probably all I can do for now.

thx. If you're using a more 'feel' based approach then as well as scoring the maket to assess your stake (volatility, volume & 'market 'shape' etc ie two shorties probably react more than a field of 8/1 shots blah blah blah) you also need to assess you too. You're the biggest piece in this puzzle, it seems unlikely that it shouldn't also be one of the biggest factors in your decision making.

Stake = Market confidence * Confidence in your state of mind. And when that second factor is zero, do the admin.

It's just a video game Jas, no point getting shot and losing your hard earned status when you can wait and be deadly when you're up for it.

[JasBarrow]

thx. If you're using a more 'feel' based approach then as well as scoring the maket to assess your stake (volatility, volume & 'market 'shape' etc ie two shorties probably react more than a field of 8/1 shots blah blah blah) you also need to assess you too. You're the biggest piece in this puzzle, it seems unlikely that it shouldn't also be one of the biggest factors in your decision making.

I try to approach the market in a well thought out kind of way so not really from 'feel', where the negativity seems to affect me more is the impact it has on my focus, if i'm feeling any way negative I seem to lose a little bit of focus and then that can kind of snowball to the point where I'm not putting as much thought into what I'm doing.

[ShaunWhite]

I try to approach the market in a well thought out kind of way so not really from 'feel'

I just open a market and try and interpret whats going on

Sounds like 'feel' to me

[gutuami]

My problem is: - anyone can be a psychology expert, but not everyone can be a trading expert.

we have plenty of trading experts. they even write books and running websites with lots of advice. You didn't google it did you?

[ruthlessimon]

we have plenty of trading experts. they even write books and running websites with lots of advice. You didn't google it did you?

Oh yeah, I forgot about "TH"!

What a Trader!

It really is a wonder why only 0.5% of accounts pay PC with advice/books/courses of that quality!!!

His 1st ebook is £50 on mindset - & my point is, the advice in that book, Peter would probably agree with - & that's why it's so dangerous. Anyone can give good psychology advice (related to trading)

[ShaunWhite]

Anyone can give good psychology advice (related to trading)

And you say he charges 50 quid for the book? ..... mmmmmm, fire up Word Simon and get typing.

[ruthlessimon]

And you say he charges 50 quid for the book? ..... mmmmmm, fire up Word Simon and get typing.

I'm ruthless, but I'm not that ruthless

Next time anyone ever mentions the importance of psychology (over edge), I'll get em to explain why Badger can't even follow his own £50 advice!

[spreadbetting]

I've aways assumed you were ruthles rather than ruthless

[ruthlessimon]

I hate my username, made in haste back in 2016

If I'm allowed one wish, it'd probably be to take the username "Libra" (without losing my posts) - or knowing what Dallas's first name is. Either or

[spreadbetting]

PM Dallas , I'm sure they can edit the name if it's not already in use. Either that or start a new account, you wouldn't be the first person to have a resurrection on here.