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My thanks to Efrain, Tony, Robert & Rex for their insight into their
psychology of commodity trading. I note that there was considerable
unanimity in the traits represented in several of your comments:
1. IMPATIENCE
"I trade commodities because it is a fast way to make a lot of
money if I'm right."
"If I enter the market, I don't want to wait 3 years in order
to know I was in the wrong/right side of the market, not even three
days. If I open a trade today, I want to know if I was right or wrong
TODAY. Why wait?, you are either right or wrong or ...."
"excitement and immediate gratification one way or another"
2. ACCEPTANCE OF ONE'S IMPERFECTION OR LIMITATIONS (I.E.
"MISTAKES")
"I have made good trades and bad ones"
"Sometimes you even win."
"but after looking at the mistakes I still make after doing
this for a long time I get a little humbler."
3. KNOWING YOURSELF
"Also my psychological makeup is such that it interests me more
than trading stocks."
"I like futures trading because it suits my personality..."
"excitement, and immediate gratification..."
Your comments were exceedingly useful in illuminating some of my
own shortcomings. That is, while I totally share your impatience, I
have doubts about my ability to to truly *accept* my mistakes. It may
be that you guys are better than I at differentiating having made a "bad
trade", from viewing yourself as a "bad trader". That might sound
simple to you, but those of us who sometimes can't make that distinction
can find ourselves in deep grief.
That's some of what I learned but I would appreciate some
amplification on your apparent clarity about the "psychological makeup",
and "personality" that leads you to want to trade. You seem to
"know", or accept something about yourself which makes the rigors of
trading desirable and I wonder what that is and how I could get a little
more of it for myself.
I think it interesting too that Rex's delineation of the pluses and
minuses of trading stocks vs commodities contained no words suggesting
"impatience", "excitement", "gratification", "mistakes" or any of the
other "psychological" facets of trading that were prominent in the
comments of the other three of you. Now that says something! But what?
Regards,
Leo
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