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Varouj Abrahamian wrote:
>
> I wonder though, It is true that a lot of "good traders" go bust at one
> time or another, I don't think it constitutues the majority of "good
> traders". I think putting a lot weight on that statement can set one up for
> trouble. It is true that we are in a business of risk taking (speculating)
> and therefore when you take risks you can be on the wrong side sometimes.
> But if we think all good traders go bust, we may set our subliminial mind
> to make us go bust, just so that we may become a good trader (our mind
> sometimes works in strange ways).
> Am I making sense?
>
Your point is a very valid one, and I had to confront it myself.
Nevertheless, I did notice that however hard you try to be at your best
level, it appears that one makes occasional big mistakes along the way,
which can eventually ruin you, either financially or psychologically, or
both. It is thereafter you may (or may not) learn the very deep things
that will make a good trader of you. You don't really know what is light
before you see the dark. It is only after the dark you learn to cherish
the light...
I don't believe that knowing many good traders went bust initially will
become a self fulfilling prophecy for oneself. To progress, you will
have no choice but to push yourself, and doing so, you will be in the
unknown, which occasionally will lead you over the limit, because you
did not know where the limit was until you crossed it! If you don't push
yourself, you will never know, and probably will never be a top trader,
but a so-so one at best.
My belief is that what separates the winners from the others, is that
the winners learn how to modify their behavior(s), whereas the others
look for answers outside of themselves, changing tools, systems,
indicators, funds, markets, size, brokers etc... but not themselves,
thus repeating forever the same losing routine.
That is a belief, not a fact!
Gwenn
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