the trader who sold his ferrari

i have not read robin sharma's

famous best seller

"the monk who sold his ferrari",

but i just sold mine

- my technicals!

it took me 2 years

of focused

single-minded

fanatic-scale

effort

to study rsi and william%r

besides some other indicators

and tools

(albeit to a lesser extent).

despite all this

hearts of hearts

i knew that the market monster

was not tamed!

recently

i even went to the extent

of admitting that no technical

can crack the market code!

technicals help

but not we retail traders.

they help

market forces

to provide

endless supplies

of victims!

this led me to the door of

next search!

and with god's mercy

i got IT

much sooner than i had expected...

"just follow the market's direction"

no technicals

no indicators

no graphs

no computer

no analyses

no prediction

just dumb shameless remorseless

following!!!

(i have explained these in detail

in my posts of last week)

i tried the new methods

and i had to pinch myself

to believe the results!

--

and what a coincidence it is

when i see right before my eyes

a statement from

none other than

Alexander Davidson

"....technical analysis doesn't work except to a limited extent in short term trading situations"

--

though i was not a monk

but definitely a wandering trader!

though i had no ferrari

i definitely loved my rsi and william%r

more than a ferrari!

though i have not sold my "ferrari"

i just left it behind!!!

nip that pain in the bud!

pain of loss
is greater than
the pleasure of gain.
--
so when a trade goes wrong
which is often
especially for newcomers
and
loss appears on the screen
the new-bees are left with
only one way
to overcome
and avoid
the pain of loss
???
by not booking the loss
by not honouring the stop loss
....wishing the price
to turn
somehow
into the green
and become
a pleasure of gain!
--
obviously
this doesn't happen.
as a psychological miracle
the pain of loss
gradually turns into
the PLEASURE OF PAIN
and
the pleasure of pain
gradually turns into
the teasing
PAIN OF GAIN.

secret self talk of winner traders

* i am not playing 'not-to-lose'. i am playing to win. u can check it in my every decision.

* i am never the victim of the market. i am responsible for outcome of every trade. u can check it in my every reaction.

* i don't just want to be a successful trader. i am committed to be one. i have burnt the bridges behind.

* i must think 'big' and challenge every 'small' thought. u can cross-check it!

* i will thank the market for everything i gain, for that way market will give me more. i will
never criticise, condemn, complain, argue or curse the market.

* i will take trade decisions on the basis of possibilities of profit and not apprehensions of
loss. pl let me know if that's not the case.

* i must not expect reward without being ready for risk.

* i admire successful traders even though they are presently taking my money. i want to be one of them.

* rather than shirking and cursing, i will face and solve every problem that comes in the way of a winning trade.

* i am not seeking security or salary from the market. i am out for handsome big reward!

* i will not compromise on what all i want. pl remind me when i do.

* i will manage my money and not let it roam free.

* i will make my money work hard for me rather than sit idle and pretty.

* i will not allow fear to tame me. i will tame my fear and do what must be done.