Hi Ted, today I observed that having specific expectations that are not met can lead to negative emotions. So I can either have no expectations ever but this becomes unfulfilling or I can have multiple or different possible expectations for events so if one doesn't pan out I am still neutral emotionally. the challenge of course is in creating these multiple expectations. In trading it's easier because you just have to account for a loss which is just one variable, but how I work that around family and kids is much more challenging for me.
Also, Just wondering, the stuff that is presented in "How to" and "Advanced P&L" by Drummond. Are they an earlier (and less complete) version of what we are doing in the course? The course has a lot of detail and takes a while to go through but it seems much different from the books.
JA
Observations on emotion and expectation
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Trader Question
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Re: Observations on emotion and expectation
++++ And how!
+++and is also counter-productive since having an anticipation of what you undnerstand is likely to occur based on your analysis is the edge that you have ....
+++Well, I would say two sets of expectations, not multiple. If "A" does not work out, then "B" is occuring. With experience you can know eaxctly what to look for on the lower time period that will tell you if your expectation is becoming reality; if not, then you assume the opposite is happening, and either stand aside or develope the alternative course of action.
+++yes, the lifestyle issues and finding the way to integrate tradinginto family etc is a challenge as well.... Well known...
Yes, that is essentially it.
The "How to..." book was writen in 1978 as a diversion and as a way to set down general ideas, without the intent to reveal all. "Advanced P&L" was written inthe early 80's as an attempt to systemize some of the lines and principles of use, and include some private trading plans. They tend to be complicated and hard to follow. The course is Charlie's and my attempt to restate, organize, and present a compresensive view of the colleted methodology as it existed at the end of the 1990s' at which point it includd many further elements, including the envelope system and the use of nearbys and furtherouts, etc, and other items as well, and represents a further development of the whole ball of wax.
+++and is also counter-productive since having an anticipation of what you undnerstand is likely to occur based on your analysis is the edge that you have ....
+++Well, I would say two sets of expectations, not multiple. If "A" does not work out, then "B" is occuring. With experience you can know eaxctly what to look for on the lower time period that will tell you if your expectation is becoming reality; if not, then you assume the opposite is happening, and either stand aside or develope the alternative course of action.
+++yes, the lifestyle issues and finding the way to integrate tradinginto family etc is a challenge as well.... Well known...
Yes, that is essentially it.
The "How to..." book was writen in 1978 as a diversion and as a way to set down general ideas, without the intent to reveal all. "Advanced P&L" was written inthe early 80's as an attempt to systemize some of the lines and principles of use, and include some private trading plans. They tend to be complicated and hard to follow. The course is Charlie's and my attempt to restate, organize, and present a compresensive view of the colleted methodology as it existed at the end of the 1990s' at which point it includd many further elements, including the envelope system and the use of nearbys and furtherouts, etc, and other items as well, and represents a further development of the whole ball of wax.