I agree ……. Everyone's opinion is valuable whether we agree or not, and giving an explanation for those opinions is invaluable. Great thread!
How to read between the lines.
1- Thread starts off with an enthusiastic, carefree guy talking about his investment. Seems like he's put a big percentage of his total equity on this.
2 - Other posters notice something a bit different in the way he posts and decide to see how stable his vibe is. They do this because subconsciously they know that confidence creates money. Several tests come in the form of destabilizing questions and comments. "Are you sure...?" "Have you considered..?".
3 - Unfazed (test passed).
4 - This causes fascination. The thread grows as posters try to glom some of the confident vibe for themselves. Why? Because a positive vibe creates wealth. They see it and they want a piece of it.
5 - OP gets a big head...Careful!
You'll see the same themes play out on Modest and Trader Girl threads. It's the vibe that creates the money. Method is very much a secondary concern.
I don't mean to imply that there's anything wrong with enjoying someone else's confidence or attitude. Learning through mirroring is fine so long as you can stabilize it in yourself once the object of your learning moves on. The time-tested method for developing one's own confidence through a properly tested technical system. The other way through a very deep understanding of the fundamental factors of the company, the space it operates in and broader economic factors (OP seems to have this). At that point you will profit unless there are psychological factors which interfere with execution and day-to-day management.
These psychological factors are fear-based (loss, missing out) and unfortunately they are synaptically linked in with aspects of self-esteem and self-worth. Personally, I believe it's ok to override one's own system if it can be done in a very cool and calculated way - a mixed system/discretionary approach. But when it feels highly pressured, when your gut clenches, when you hold your breath...something else is going on. It's one thing to say "reduce your size to sleeping point", but you won't make much betting small. Repeated or heavy loss will impact how you feel about yourself, and the problem snowballs because thereafter you will trade in an attempt to re-assert your sense of worth....and that is disastrous.
Some will read this and say "Just stick to your system and you never need to worry about the psychological aspects of trading". Unfortunately that's not true. It's hard to explain without getting philosophical, but there is a link between the subconcious and the outer reality each individual experiences.
Trading forces us to discover and become who we really are, which means [at first] accessing, allowing and experiencing the full range of emotions which appear spontaneously. Then, linking these back to early life instances, if you want to go deep. Basically, reclaiming full possession of your true self. If you're already highly profitable, then none of the above is necessary; it may even look ridiculous.
When people use the term "big ego", they're referring to someone with a damaged ego (the ego itself is undeveloped and the compensation is 'big'). The greater the damage, the greater the fear and the more obvious the compensatory and self-sabotaging behaviours. So yes, that's pretty much it.Would I be misrepresenting what you are saying if I condensed your meaning to 'the bigger the ego, the bigger the fear'?
I will make this my last comment on the subject as it is taking it away from the threads topic....Our real competitors are the cool, smart, cashed up retail traders. Guys like minwa.
It's actually right on topic for a change.I will make this my last comment on the subject as it is taking it away from the threads topic....
Surely the only competition we have is ourselves. Get over your bloody ego/fear of failure and the rest is just good organization, learning from mistakes and time in.
It's actually right on topic for a change.
When you refer to it as 'bloody ego', then you're saying it's bad. The ego - as your sense of self - needs to be healthy! You don't heal fear by condemning it or saying: 'just getting over it'. That's not how it works. If it was easy then 95% of traders would be profitable rather than 5%.
I'm not referring to you in these posts, since I don't know anything about you.Sorry verce, Gringotts Bank is such a tempter!
I studied with a brilliant rabbi for many years and he taught ego abnegation to be the ultimate goal. I have worked very hard on this and can attest to its value. What I am doing here trying to win a debate would make him smile gently!
But one shouldn't try to transcend or renounce the ego until it's first made healthy. Jung warned against that, having seen the damage a premature delving into the spiritual side can do. Used incorrectly or prematurely, it is pure escapism. It's enough for most people to know and enjoy who they are, let alone attempting to transcend that.
Is this product really necessary? Can't people just email photos and videos these days? What convenience does the app provide?
...Australia is an inherently risk-averse country.
...the US growth is impressive.
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