Taking the Blinders Off the Trading Mind

[gosu 10]

I never understood what was meant by the use of the word "passion" in regard to trading. The first time I heard the link between passion and trading was in a course I took a long time ago, where the instructor said something like, "in order to succeed, you have to have a passion for trading." Now I hear the phrase used all the time, by vendors and consumers, and even on a TV ad I saw on CNBC.

 

Personally, I think "passion" ought to be reserved for sexual relationships with the opposite sex (or the same sex if you lean that way). With regard to trading, I think a dispassionate attitude is best.

[johnw 10]

I never understood what was meant by the use of the word "passion" in regard to trading. The first time I heard the link between passion and trading was in a course I took a long time ago, where the instructor said something like, "in order to succeed, you have to have a passion for trading." Now I hear the phrase used all the time, by vendors and consumers, and even on a TV ad I saw on CNBC.

 

Personally, I think "passion" ought to be reserved for sexual relationships with the opposite sex (or the same sex if you lean that way). With regard to trading, I think a dispassionate attitude is best.

 

gm gosu,

 

You have somehow managed to miss the point entirely.

[gosu 10]

gm gosu,

 

You have somehow managed to miss the point entirely.

 

Why don't you set me straight? I'm all ears.

[MightyMouse 12]

Passion (from the Ancient Greek verb πάσχω (paskho) meaning to suffer) is a term applied to a very strong feeling about a person or thing. Passion is an intense emotion compelling feeling, enthusiasm, or desire for something.

The term is also often applied to a lively or eager interest in or admiration for a proposal, cause, or activity or love - to a feeling of unusual excitement, enthusiasm or compelling emotion, a positive affinity or love, towards a subject, idea, person, or object. It is particularly used in the context of romance or sexual desire though it generally implies a deeper or more encompassing emotion than that implied by the term lust.

 

Passion/desire is what got me through 6 blowups.But i am never passionate about a particular trade.So we agree on that point.

 

Passion in trading is often times confused with obsession. I do sense that there are a lot of people who are obsessed with trading. Obsession will never make you a better trader and neither will a strong desire to succeed.

 

Obsession in trading is trading for trading sake or trading when there is no money to take in the market or risking your capital trading when you can do a lot better elsewhere.

[MightyMouse 12]

We can differ about choice of words.How about tenacity? Over trading leads to losses,sure.I'm not sure that obsession equals over trading.I could suggest that inexperience leads to over trading,or impatience,or lack of discipline.

There are 2 sides to every coin.While obsession is often an unhealthy emotion,one often has to make sacrifices to succeed in a difficult task.That may appear to be obsessive to others,but does Beckham regret staying after training to practice free kicks? I doubt it.

If you quit you are no longer obsessed. If you succeed there is no need to be obsessed either.

 

Yes, it is a word choice. I call persons gambling in a casino, who know they cannot win and still spend night after night gambling, obsessed with gambling and not passionate about gambling. Inexperienced? Maybe. Traders who risk capital for trading sake, are obsessed with trading in MM's unabashed glossary of trading terms.

[johnw 10]

Why don't you set me straight? I'm all ears.

 

gm gosu,

 

Well MM seems to have covered the subject pretty well.

 

I would like to add one thing, and that it is important to know the difference between being passionate about what you do and being passionate about who you do.

 

This is never more so than in trading, because although you are getting screwed either way, only one way has a happy ending.

 

enjoy the week.

[gosu 10]

gm gosu,

 

Well MM seems to have covered the subject pretty well.

 

I would like to add one thing, and that it is important to know the difference between being passionate about what you do and being passionate about who you do.

 

This is never more so than in trading, because although you are getting screwed either way, only one way has a happy ending.

 

enjoy the week.

 

Maybe you are the one who missed the point, as you seem to have gotten hung up on the tongue-in-cheek part of my comment.

 

The point of the original poster was to respond to the question asked by another if he had started trading yet. The gist of the response was why should he trade when he lacks the "necessary passion to drive the engine of trading." I read this to be the equivalent to the hackneyed phrase "passion for trading," which he seems to say is a requirement for success.

 

My opinion is that this phrase is vague and useless when it comes to trading. I added a tongue-in-cheek comment about reserving passion for sex and evidently that got your focus.

 

You draw a distinction between being passionate about "what" you do versus "who" you do as if that adds anything to clear up what passion for trading means and whether it's a requirement to trade.

 

In any case, I do get the sense that you feel you are passionate about trading. You also state that you get screwed by trading. Perhaps, then, having a feeling of being screwed by trading is required to have a passion for it.

[zdo 20]

What is going on in here? Rande asks if we’re “far enough from Denise…?” (yet).

and, Suiya, why do you wanton “screw Denise”? I’m pretty sure she’s moving on out of that stage of her life now.

Am I missing something about her or her thinking? Haven’t read any of her books. Don’t know if I’ll ever get around to reading it but I am ordering her latest book just to see what is evoking the heck out of … What’s the charge?

… and, no, it’s not just

… more is going on than that.

[SIUYA 11]

if my memory serves correct, the reference to Denise was a typo Rande made to you - in that it was meant to be private, and my reference was to her as - who cares about Denise in this conversation.

OR maybe I really am a sicko and think she (who ever she is) is still up for it.