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  • #868
    PiratePip
    Participant

      Hey guys

      I have always been a huge believer that ones trading results are often affected by many things a part from the act of trading or analyzing itself. Some examples of some of these things would be your outlook(are your optimistic or pessimistic?), your self worth, are you self aware? and things of this nature. I also believe that all of these things are linked together, just like they are linked to our trading.

      You must be self aware in order to understand what you are doing that is truly right and wrong. You must also be very self aware in order to properly analyze your results and to know where to you stand. You need to be able to identify things like are you an optimist or a pessimist? Do you think outside of the box or are you more by the rules kind of person? are you adaptable? are you determined? do you truly want it as bad as you think you want it? many other self reflective things like this. It is very important to be able to self reflect upon questions like this as trading can be a very lonely business. We do not always have people to act as our checks and balance to make sure we are doing the right now. We need to take this upon our selves and in order to do the best job we can we must be very aware of how good the job we are currently doing is.

      Why do I keep mentioning the question, are you an optimist or a pessimist? I believe what your answer has a HUGE outcome on your trading, what you think is possible with trading in general, what you think you are capable of achieve and so on. I know it sounds corny but you truly are what you believe. There is no thing as reality, only perception. If you are a pessimist and you think its unrealistic to make 20% or even 50% a month, you are already deciding in your world that you will not do this as it is impossible… Where as if you are an optimist, you see absolutely no reason why that would be impossible. I mean they sky is the limit for the optimist  and there is no earnings cap with the market meanwhile with the pessimist he is doomed to stay trapped in the invisible walls he builds around himself.

      I believe what determines whether you are the pessimist or the optimist is most influenced by your lifestyle, your experiences, your beliefs and your faith(not religion, faith in what ever it is you believe, whether it be karma, God, Allah, Zues, Hades, Reincarnation, Whatever). And out of all of these i think the ones i find most influential are your experiences and your faith/beliefs. What you belief and how much faith you have in it determines everything you do. If you believe you can make money trading but you don’t have true faith that you will do it, you likely wont.

      “He who says he can & he who says he can’t are both usually right.” – Confucius

      All of these things I would say are the psychological side of trading. It is what crafts your thoughts, your beliefs and your consciousness. This is why I have called this thread Psychological Development. It will be dedicated to discussing/sharing anything that falls under the psychological aspect of trading whether its PDF’s on how to control your emotions in trading, or if its just a video about the grand scheme of life. I want this to be a enlightening thread so to speak.

       

      My first piece to hopefully inspire some of you guys is this. Follow your heart. But make sure its in the right place and you know what it is you are following. How would you really enjoy spending your life if you didn’t need to earn money(trade)? Once you know this, you know why you are trading…

       

      Remember guys your thoughts and beliefs manifest themselves into reality…

       

       

      • This topic was modified 9 years, 7 months ago by PiratePip.
      • This topic was modified 9 years, 7 months ago by PiratePip.



      -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

      #870
      PiratePip
      Participant

        and at the end of the day, it all goes back in the box…

        • This reply was modified 9 years, 7 months ago by PiratePip.



        -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

        #873
        PiratePip
        Participant

          Here is a great book by Napoleon Hill that sort of delves into this relationship between your psykie and your success. Its short & easy to read.

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          -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

          #875
          PiratePip
          Participant

            Two Great Books by Malcom Gladwell I recommend.

            Blink – another good reach about how our subconscious mind has a much greater affect on our life than most people think.

            The Tipping Point – This one is about all the little things that lead up to whats known as the tipping point in someones life, or career or whatever. Very interesting stuff about what makes us who we are and what we end up doing.

             

             

            • This reply was modified 9 years, 7 months ago by PiratePip.
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            -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

            #879
            Zelo
            Participant

              very inspirational videos! :good:

               

              thank you for opening this thread, Pip!

              #880
              PiratePip
              Participant

                Glad you like it bud! Im hoping some others will find some of this stuff useful as well.



                -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

                #881
                PiratePip
                Participant

                  These are the first video i watched 3 years ago that really opened my mind to how important understand our brains & thoughts are in relation to what we wish to do.

                   

                  • This reply was modified 9 years, 7 months ago by PiratePip.
                  • This reply was modified 9 years, 7 months ago by PiratePip.



                  -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

                  #883
                  dewachen
                  Participant

                    Thank you very much Pip. Nice videos. And thanks for the Pdf too.

                    • This reply was modified 9 years, 7 months ago by dewachen.
                    #884
                    Anonymous

                      Oh yeah!!! Enjoyed that!

                      Alan Watts awakens the spirit.

                      #886
                      PiratePip
                      Participant

                        Oh yeah!!! Enjoyed that! Alan Watts awakens the spirit.

                         

                        yeah he is definitely one of my favorites, we will be hearing a lot from him on here :good:



                        -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

                        #951
                        Saver0
                        Moderator

                          Awesome thread PiratePip. These are videos that I have seen and they are like food for the soul.. hehe

                          As for being optimistic and pessimistic, I have a certain view that I have developed through my experience. Most of my life I have been a very optimistic guy and I went through certain pessimistic experiences that shaped the overall outlook of things. I guess now I am more of a realist and I tend to aim for goals that I know I can achieve for certain. Only things that I am optimistic for are the ones uncertain. This enables me to adapt to situations better and take the most beneficial route. Results that I can imagine/believe that I know can be achieved based on the effort that I am able to put in. Obviously this is all shaped and formed by experiences and for each individual the barriers/limits/possibilities are different.  There is real power in the ability to believe. But it’s important not to “lie” to oneself. I spent a lot of time trying to “brainwash” or to make myself believe certain things but it was really hard. So instead, I started aiming for what I know I can reach, the small leaps that I can make. It’s like building a ladder to get to the top vs building an elevator. Both are possible, but one is easier to build and to do. I think we all can make ladders and not elevators since most lack the ability to put in the time and effort required to build the elevators. So it can be easier I think to reach our goals one step at a time. Elevators aren’t impossible if one can believe in making one.

                          Also I came to understand that there certainly is more to life than money. Money in a way is raw effort. What we are collecting at the end of the day is the effort of others. One of my beliefs is that there is no way to acquire money (effort) without making more of an effort. It takes massive effort to accumulate massive wealth. Maybe its a limiting belief that I have but based on my experience and the word of the wise that I have heard throughout my life, something that the modern culture lack is the idea of effort. Even the new books like “The Secret” lack to highlight the importance of effort. But the teachers of these self help authors of the early 1900s emphasized the importance of effort. It’s the Newton’s 3rd law of motion at work. Every action will have an equal and opposite reaction. This is why serving others is huge, because we can build things that will even continue to serve others even when we are no longer alive. Think about the massive amount of service that companies like Google, Apple, Microsoft has done and still doing? They have leaped humanity into the future and caused our society to evolve faster. They have touched everyone’s lives, and in return, founders of these great companies are compensated well (I’m not speaking how moral or not their actions are/were haha).  Some could argue that they got lucky or knew the right people. Then I would say, even to know the right people, to be in that situation, it doesn’t just land on someone’s shoulder, one has to actively work at it or must have had put in effort in the past to have made those connections and to be in that situation.

                          Anyways, before this gets too long.. I will end my reply with the following video that I recommend everyone to watch

                          https://www.youtube.com/watch?v=uaHDCcUcmc0

                          Focus, Patience, Determination & Order in chaos

                          #952
                          hannele
                          Participant

                            PiratePip

                            I love this thread, I  will add some pixie dust :rose:

                            cheers

                            hannele

                            #988
                            PiratePip
                            Participant

                              Awesome thread PiratePip. These are videos that I have seen and they are like food for the soul.. hehe As for being optimistic and pessimistic, I have a certain view that I have developed through my experience. Most of my life I have been a very optimistic guy and I went through certain pessimistic experiences that shaped the overall outlook of things. I guess now I am more of a realist and I tend to aim for goals that I know I can achieve for certain. Only things that I am optimistic for are the ones uncertain. This enables me to adapt to situations better and take the most beneficial route. Results that I can imagine/believe that I know can be achieved based on the effort that I am able to put in. Obviously this is all shaped and formed by experiences and for each individual the barriers/limits/possibilities are different. There is real power in the ability to believe. But it’s important not to “lie” to oneself. I spent a lot of time trying to “brainwash” or to make myself believe certain things but it was really hard. So instead, I started aiming for what I know I can reach, the small leaps that I can make. It’s like building a ladder to get to the top vs building an elevator. Both are possible, but one is easier to build and to do. I think we all can make ladders and not elevators since most lack the ability to put in the time and effort required to build the elevators. So it can be easier I think to reach our goals one step at a time. Elevators aren’t impossible if one can believe in making one. Also I came to understand that there certainly is more to life than money. Money in a way is raw effort. What we are collecting at the end of the day is the effort of others. One of my beliefs is that there is no way to acquire money (effort) without making more of an effort. It takes massive effort to accumulate massive wealth. Maybe its a limiting belief that I have but based on my experience and the word of the wise that I have heard throughout my life, something that the modern culture lack is the idea of effort. Even the new books like “The Secret” lack to highlight the importance of effort. But the teachers of these self help authors of the early 1900s emphasized the importance of effort. It’s the Newton’s 3rd law of motion at work. Every action will have an equal and opposite reaction. This is why serving others is huge, because we can build things that will even continue to serve others even when we are no longer alive. Think about the massive amount of service that companies like Google, Apple, Microsoft has done and still doing? They have leaped humanity into the future and caused our society to evolve faster. They have touched everyone’s lives, and in return, founders of these great companies are compensated well (I’m not speaking how moral or not their actions are/were haha). Some could argue that they got lucky or knew the right people. Then I would say, even to know the right people, to be in that situation, it doesn’t just land on someone’s shoulder, one has to actively work at it or must have had put in effort in the past to have made those connections and to be in that situation. Anyways, before this gets too long.. I will end my reply with the following video that I recommend everyone to watch
                              <div class=”video-container”><span class=”embed-youtube” style=”text-align: center; display: block;”>[youtube http://www.youtube.com/watch?v=uaHDCcUcmc0?version=3&rel=1&fs=1&showsearch=0&showinfo=1&iv_load_policy=1&wmode=transparent%5D</span></div&gt;

                               

                              Glad you like the thread saver and I like forward to more of your input in these matters :)

                              I totally agree that being realistic is very important, but I think it can be very hindering if one is too realistic. and I too think that the real power to what you can achieve lies in what you believe. Will smith sums this up perfectly by saying the every one thought having light bulbs and electricity was unrealistic, thankfully edison didn’t and now we have lights every where. Many people thought shaping metal into the vehicles that would fly up in the sky was unrealistic, thankfully the wright brothers didn’t think so and now people fly on airplanes every day and most people would think it would be unrealistic not to have them now. Most people think its unrealistic to make $120,000,000.00(or 16 billion yen) as a retail investor. This guy didnt think so and now im sure he laughs in the faces of those who said it was unrealistic. http://www.bloomberg.com/news/2014-09-25/mystery-man-moving-japan-made-more-than-1-million-trades.html I also agree that many people want the elevator to the top when instead the ladder is how you actually get there. You couldnt build any elevators if you didnt have ladders to begin with. Will also sums this up greatly by saying success is like building a wall. You don’t just build the great wall of china out of no where. You take one brick a time and lie them as perfectly as you can and as time progress you soon have a wall.

                              https://www.youtube.com/watch?v=24AOsgniY1o

                              Will Smith – “being realistic is the most common traveled road to <span data-dobid=”hdw”>mediocrity</span>

                              I also agree that nothing comes with out the work. Its all about what you put into it. That book I linked called the tipping point talks about this. The author says every ones tipping point for a craft is when they have achieved 10,000 hours of doing whatever it is they want to truly master. That would be <b>20 hours</b> for <b>50 weeks</b> a year for <b>ten years</b> = 10,000 of chart time to reach this point. Most people will never do anything for this amount of time and this is why most people never truly become successful at what it is they do. Most people don’t believe in themselves when they are not successful in 2 or 3 years when they spend 2 maybe 3 hours a day working on whatever it is they are doing and quite. It is the people who believe the dots will connect in the end(the like good ole steve says in first video) who make it to 10,000 hours and actually become a master at what they do. I thankfully am fortunate enough to have put in much more than 20 hours a week of screen time and settle easily around 40-50 hours a week or more(I have no life lol) but it is starting to pay off. I am no where near accomplishing 10,000 hours thought as I have only been working at this for 2 years now so about 4,500-5000 hours… Half way there :yahoo:   :yahoo:   :yahoo:   I recommend every one read those books they are very interesting

                              Also I love that video you linked doing things like this not only help your outlook on life but they always teach you massive amounts of discipline, which is crucial in trading.

                               



                              -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

                              #989
                              PiratePip
                              Participant

                                This 10,000 hour rule is also why skill will beat talent any day in the long run. Talent you are given and skill is developed. You can not only rely on talent, you must develop your skills.



                                -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

                                #990
                                Saver0
                                Moderator

                                  I agree with what you wrote.

                                  What I meant in terms of having realistic expectations is realistic in terms of my beliefs. What might be realistic for me wouldn’t be realistic for another. Know what I mean? It’s like if I cannot believe in what I want to accomplish, then I think it can be a waste of time to aim for that goal because most likely the outcome will be a direct result of my strongest belief.

                                  If we take Wright brothers for example. I’m sure they believed  that they could make a flying machine without a shadow of a doubt. And if we imagine their lives, they were fully qualified to believe so. What they built was based on the experience they attained as bike builders. I can see how for them it would be possible to have this belief of being able to build it. Now is it unrealistic to think that a 13yr old kid could have invented the airplane. We could think it is unrealistic but what if he was such a good mechanic and in some weird way had the skills necessary to come  up with something that can fly or had ways of gaining the skills necessary to build such a machine? Then it wouldn’t be so unrealistic.

                                  In this day and age, no goal is unrealistic unless its somehow limited by something that we have no control over because we have access to all knowledge. Everything can be learned. Just takes time. Time is the only thing that we need to be realistic with because if not, then we can be in for disappointments.  It’s like asking, is it unrealistic to imagine someone making a highly profitable EA within 6 months and make 1 million if this person never programmed or coded ever in his whole life? Now this would be unrealistic I would think unless this person had some way of getting it done maybe through his connections. Now what if s/he had no idea about trading/investing? Now its even more unrealistic. Not impossible but very very small probability.  So realistic and unrealistic is in the eye of the beholder. If one can believe that they can do it and have the capacity to do it, then there is nothing that can stop him/her. This is what I mean by realistic :yes:

                                  Focus, Patience, Determination & Order in chaos

                                  #993
                                  PiratePip
                                  Participant

                                    I agree with what you wrote. What I meant in terms of having realistic expectations is realistic in terms of my beliefs. What might be realistic for me wouldn’t be realistic for another. Know what I mean? It’s like if I cannot believe in what I want to accomplish, then I think it can be a waste of time to aim for that goal because most likely the outcome will be a direct result of my strongest belief. If we take Wright brothers for example. I’m sure they believed that they could make a flying machine without a shadow of a doubt. And if we imagine their lives, they were fully qualified to believe so. What they built was based on the experience they attained as bike builders. I can see how for them it would be possible to have this belief of being able to build it. Now is it unrealistic to think that a 13yr old kid could have invented the airplane. We could think it is unrealistic but what if he was such a good mechanic and in some weird way had the skills necessary to come up with something that can fly or had ways of gaining the skills necessary to build such a machine? Then it wouldn’t be so unrealistic. In this day and age, no goal is unrealistic unless its somehow limited by something that we have no control over because we have access to all knowledge. Everything can be learned. Just takes time. Time is the only thing that we need to be realistic with because if not, then we can be in for disappointments. It’s like asking, is it unrealistic to imagine someone making a highly profitable EA within 6 months and make 1 million if this person never programmed or coded ever in his whole life? Now this would be unrealistic I would think unless this person had some way of getting it done maybe through his connections. Now what if s/he had no idea about trading/investing? Now its even more unrealistic. Not impossible but very very small probability. So realistic and unrealistic is in the eye of the beholder. If one can believe that they can do it and have the capacity to do it, then there is nothing that can stop him/her. This is what I mean by realistic :yes:

                                     

                                    I totally agree with you my friend, very well put. :good:



                                    -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

                                    #998
                                    LearnAlways
                                    Participant

                                      Hi,

                                      Pls may I suggest a book by William James Allen – “As a man thinketh”. Short but very nice read. I don’t have the pdf though. U might want to download it yourself.

                                      Best Regards,

                                      William

                                      I only know I know nothing
                                      Skype: [email protected]

                                      #999
                                      PiratePip
                                      Participant

                                        Here is an article Title “Powerful Change must be Fully Aligned!” It is a really good read and I recommend every one read it. The guy who wrote is a trader I have been following for over a year now. He is really good at what he does and he also runs an organic bee farm where he makes really good honey(hence his name). Hope you guys enjoy.

                                        http://www.fatbeetrader.com/the-hive-blog/powerful-change-must-be-fully-aligned



                                        -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

                                        #1003
                                        Anonymous

                                          Another good read…

                                          #1007
                                          Zelo
                                          Participant

                                            Nice read guys! :good:

                                            I have subscribed to those channel long time ago. They have great Motivational Video that i used to watch each day.

                                            https://www.youtube.com/channel/UCwXM5OFc7ZM6HK5GKVfmJow

                                            https://www.youtube.com/channel/UCnJ-KJLPlRw90rGs_6XfmmQ

                                             

                                            Thank Pip for the link to the article.

                                            One rule:

                                            “Buy stocks that are being bought, and sell stocks that are being sold.”

                                            I love this sentence. Because i used to look at tick chart when i trade 60s binary option.

                                            But i think it wont help me any more :unsure:

                                            #1036
                                            PiratePip
                                            Participant

                                              Nice read guys! :good: I have subscribed to those channel long time ago. They have great Motivational Video that i used to watch each day. https://www.youtube.com/channel/UCwXM5OFc7ZM6HK5GKVfmJow https://www.youtube.com/channel/UCnJ-KJLPlRw90rGs_6XfmmQ Thank Pip for the link to the article. One rule: “Buy stocks that are being bought, and sell stocks that are being sold.” I love this sentence. Because i used to look at tick chart when i trade 60s binary option. But i think it wont help me any more :unsure:

                                              Thank for linking those channels Zelo. I always love watching this kind of stuff as it just puts positive toughts/thinking in your mind. And yeah i too really liked that article. I recommend every one follow that guy on twitter(@fatbeetrader). He post videos and stuff explaining his trades and stuff and I found them very useful in the past. His trading style is more supply & demand/indicator based(classic indicators).

                                               

                                              I also love what he says about buying stocks that are being bought and selling stocks that are being sold. Another trade I have followed since I started trading is a guy on twitter who guys by @modern_rock. He is just a retail stock trader in San Jose California but he is a master at what he does. He has blown up twice(a 50k account & a 30k account) and is completely honest about his trading and he has made it all back and much more. I have seen this guy pull over $120,000.00 in one day. He even did it multiple days in a week back when Fanny May and Freddie Mac Collapsed and bounced. He too has a similar rule about buying”low” or discounted stocks, currencies etc. He says never buy anything on sale or discounted. Its discounted for a reason and the market knows this. He has made a twitter account where he posted all of his trading rules he lives by that I have found very useful. Its @mrockrulez

                                               

                                              Here is another daily dose of good ole alan…

                                              Are you awake?

                                              • This reply was modified 9 years, 7 months ago by PiratePip.
                                              • This reply was modified 9 years, 7 months ago by PiratePip.



                                              -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

                                              #1055
                                              PiratePip
                                              Participant

                                                Just wanted to share a quote that my father shared with me when I was younger than has really stuck with me.
                                                “Sow a thought, reap an action; sow an action, reap a habit; sow a habit, reap a character; sow a character, reap a destiny.”
                                                Always remember, you reap what you sow.

                                                • This reply was modified 9 years, 7 months ago by PiratePip.



                                                -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

                                                #1062
                                                stt
                                                Participant

                                                  wow. such a great thread. I never thought we would be discussing these motivational things here. But like PP said, these are as important as trading strategies.

                                                  Very nice collection of articles. sometimes i wonder where you get so much time to make these great posts.

                                                   

                                                  #1071
                                                  PiratePip
                                                  Participant

                                                    wow. such a great thread. I never thought we would be discussing these motivational things here. But like PP said, these are as important as trading strategies. Very nice collection of articles. sometimes i wonder where you get so much time to make these great posts.

                                                     

                                                    Nice to see you stop by here Stt, and im glad to hear you are enjoying it!

                                                    like i said in my post about the 10,000 hours… I have no life haha i enjoy it though, I have always been a computer gamer growing up so i can work on anything that interest me on the computer for hours with ease. I always new being a nerd was going to pay off some day :)

                                                    • This reply was modified 9 years, 7 months ago by PiratePip.



                                                    -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

                                                    #1077
                                                    PiratePip
                                                    Participant

                                                      This video is in regards to how i always find time to work on my dream. Arnold is one of the most accomplished people in the world. Considering where he came from to where he went, it is truly ridiculous what he was able to achieve. This is cut and edited from a graduation speech I believe he gave, or it may have been something different.

                                                      there is 24 hours in a day. We only need to sleep for six. this means we have 18 a day we can be working towards our goal.

                                                      I work as hard as I do now and spend as much time as possible working towards my goal now because Time waits on no man.



                                                      -Life’s Good & Why Wouldn’t It Be? I’m a Pirate After All!

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