Not many psychology posts :(

[CLOWNSHOES]

I've been reading a bit about weiners attribution theory this week. I saw a sport psychologist saying it was the mindset of many a champion but i couldnt help draw paralells to problem gamblers i know.


According to attribution theory, high achievers will approach rather than avoid tasks related to succeeding because they believe success is due to high ability and effort which they are confident of. Failure is thought to be caused by bad luck or a poor exam, i.e. not their fault. Thus, failure doesn't affect their self-esteem but success builds pride and confidence.

[Iron]

There used to be lots, but that was primarily driven by Ferru, who seemed fascinated by this

I have said many, many times on this forum - "the difference between a successful trader and a bankrupt one, is what they do when faced with a red screen"

That's fair comment.

My advice to anyone who finds this game psychologically difficult is - quit. Either that, or find a way of rewiring your mind so it's not so difficult (but 99% of people won't even try in my opinion - they want change, but they don't want to change).

Life is very short. Yesterday, my dad was out walking the dog. He died suddenly and totally unexpectedly. You don't know when you'll run out of moments, so enjoy the ones that you have.

If trading gives you pleasure, and you're making money or not losing an unaffordable amount of money - great, I'm genuinely pleased for you.

But if it's a compulsion, and you're getting stressed and losing money, stepping out of the arena and saying 'this isn't for me, at least not yet' might be the best option.

No, I'm not back to posting, before you ask. As you can imagine, I'm feeling a bit down at the moment, so I think I naively thought I might find something in the forum to cheer me up!

Jeff

[LeTiss]

That's terrible news, Jeff

Sorry to hear that mate, but I doubt you'll find much cheer on here. It's basically full of bedwetters and problem gamblers

Best wishes

[Iron]

Thanks mate.

I was shocked when I heard the news, but I'm beginning to come to terms with it. It's one of those things, I guess.

It's cliched, but death gives live meaning, and puts things into perspective.

Jeff

That's terrible news, Jeff

Sorry to hear that mate, but I doubt you'll find much cheer on here. It's basically full of bedwetters and problem gamblers

Best wishes

[Euler]

Sorry to hear that Jeff, if it's any comfort when my Mum died unexpectedly when I was young it galvanised me to be a different person. Simply because I realised I only have one shot at life and it could end at any moment.

[Iron]

Thanks Peter

It would be tragic if this were the kick up the ass I needed to get my act together, but it may well be.

I remember your touching blog post about your father's passing some years ago. Like you, if I have to do a speech at the funeral, I'm not sure if I'll be able to keep myself together. At work, I can address 100 people without feeling any nerves, but this is a different proposition.

Jeff

Sorry to hear that Jeff, if it's any comfort when my Mum died unexpectedly when I was young it galvanised me to be a different person. Simply because I realised I only have one shot at life and it could end at any moment.

[to75ne]

jeff,

sorry for your loss

[Iron]

Thanks Tony.

Jeff

jeff,

sorry for your loss

[Euler]

It would be tragic if this were the kick up the ass I needed to get my act together, but it may well be.

When my Mum died I was 10. My family didn't have a bucket to piss in and my Dad went into a severe depression, not surprisingly, and was stuck between trying to bring up a family as a single parent and trying to earn enough to keep things going. Not very easy. I wasn't really trying very hard at school and had more or less resigned myself to never getting a decent job or being able to afford or be able to escape my circumstances.

But that shock just made me wake up and think, f**k this. It wasn't immediate though as I went through a period of complete confusion as everything fell down around me. But ultimately that's what's driven me ever since. I just wanted a better life and was prepared to work really hard to get it and to fulfil my dreams.

My attitude to risk also shifted. I learnt to lose the fear of making mistakes because I realised that was actually the way you move forward, by learning from your mistakes. If you try and avoid error and risk you never move forward. You just rot.

[Iron]

If you try and avoid error and risk you never move forward. You just rot.

Thanks Peter.

I agree.

A famous trader once observed that life is nothing but a series of bets: If you don't bet you can't win, but if you run out of chips you can't bet.

I think that sums it up nicely - taking risks is great, as long as you don't bet the farm on the red.

Jeff

[stueytrader]

Very sorry to hear that from you Jeff.

Of course these things put silly matters like money and trading into perspective for us all. Life really is too short to stress about what matters less.

I lost my dad over 15 years ago now (he was only in his 50's), and I'd echo from some above that while it's always such a loss, it can make you move on in different ways too. But that takes some time too, so wish you all the very best right now.

Stu.

[Iron]

Thanks Stu.

It's a shame when people die before their time - my dad was in his late 60s - and I guess it goes to show that you need to make the most of every precious moment you get in life, because you don't know how many you have left.

Jeff

[Dallas]

Sorry to hear about your dad, mine passed away weeks after i bought my first business nearly 20 yrs ago, I can never be sure of the exact effects thats had on my path and choices since but i'de like to think that in one way or another it gave me more determination then i might of otherwise had.

[PeterLe]

Jeff
Very sorry to hear of your loss, best wishes to you and your family
regards
Peter

[Wainwright]

Very sad news, really sorry to hear it - all the best Jeff