Two persons in a single body

I am a chemistry teacher in a govt school. Have good reputation no mental problem . But recently i realized there are two man in me. When i took a trade i can hear they are debating . One is against another’s. I can’t decide which side should I take. Today i chose wrong person and miss big opportunities.
Yesterday one of them was quiet sure that market will gap up and race towards 16500 to 16700 in coming days and take 15800 call at 182 near market closing. Decide not to interfere in between until Thursday.
But today morning another one exit the position at market opening. That call rise to 482+
Have anyone face this problem in trading life? How to kill the the other person?

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Hahah nothing to be worried sir. Its not two different persons. Its only mind and heart’s play through greed and fear.

We traders face such issues very often and it is absolutely common. Accepting that it is okay to miss our trades is the first step to take.

There’s no need to kill the other person. He is not that bad :smiley: Make trading rules and stick to them. Thats the best way to avoid excess greed and fear as it keeps us balanced

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Thanks. I wrote in a light tone and u got it. I will not kill him but request him not to interfere. He save me many time also ,not so bad.

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replace that two persons with a one machine. Then no conflict.

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Hello Sirji! Trust me! Here inside the market, we have whole new level chemical reactions defused inside the brain time to time :stuck_out_tongue::stuck_out_tongue:

That phase which you’ve gone through is just temporary reaction. Stick to the combinations, I’m sure you’ll make good progress. Just Matter of time. Welcome! @gopchem

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Only two? You are doing fine then…
:wink:

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Its absolutely normal and you must have 2 persons in your mind when u take a trade.

I have gone through this a lot and mostly the greediness will push us first. And ifa trade is going as expected, we expect more!! We should close the position once a reasonable target is achieved.

Once we are experienced, then tye assumptions will be replaced with gut feeling. And mostly the gut feeling will be right. Then we cam take some right decision. ( again should avoid greed)

Lastly as someone said, we need to study the data and analyse come up with probabilities and do calculations and enter. Afterall the market has huge data and numbers and we should make use of it to take right decision

All comes through practice…

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Haha. Thanks for the “No mental problem” clarification. Without that we assume everyone here has some or the other disorder … :wink: … On a second thought … who hasn’t … to a certain extent … :slight_smile:

Anyhow, Actionable Advice - As everyone is suggesting herein … obviously moving towards a rule based mathematically derived trading system will eliminate both “Miss. Fear” and “Miss. Greed”. But before you move towards it, here is a good opportunity to know yourself better. Why not make a record of all the decisions you take over a period of 1 month? Identify those decisions if they were out of fear or greed. See if you have an edge - if the decisions derived from fear or greed have equal weightage (50% profitability) - then you don’t have an edge which is true for most people in the market and moving to rule based system is the actionable advice. But if there is an edge (e.g. 70%), then you can use that feeling by knowing yourself better. Note, right/wrong in this case doesn’t matter since if you are wrong just feed “other person” more.

For example, if I know I am usually more fearful than greedy, I can use it to my advantage and have an element of it in my trading. Rule based system can give you mediocre but consistent returns and definitely can save you from ruin. But the astronomical returns that one dreams of, are usually derived by knowing oneself better. Rather than killing one, feed both of them although in their right deserving proportion.

My 2 cents - See if you have an edge. Most people never figure this out for there is a very short window of opportunity in the beginning of one’s trading journey to test and figure this out. Later, everyone just talks, walks and even dreams of what the acquired knowledge they gather from books, peers and so-called experts. Mentioning this … only because you look fresh and impressionable and definitely at the beginning of your trading journey.

Have a good one … :innocent:

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i keep reading this again and again. Very funny.

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Since ur a chemistry teacher…

The 2 people exist inside you in “dynamic equilibrium“, just like some chemical reactions.

Depending on the catalyst introduced (external market conditions), the reaction favours one side of the equilibrium vs the other… so should you!

Absent the catalyst, you should return to your equilibrium state. You need both persons to succeed in trading… don’t aim to kill any of them.

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sometimes i also feel that but the bottomline is one mind is protective mind another is greed mind . when i am losing heavily one mind says you are a gambler another mind says no! it a high probability trade you will get out in profit. that’s why first is risk management then take the trade so it will not happen again.

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I have multiple personality disorder wen it comes to trading

2 is really less

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People like you make the forum valuable. I read ur comments 3 times . I should recort my every trade and outcome of it. Its very much important.

I will figure out that and implement.

its as important as knowing market closely.
Thanks for your suggestions.

Most of the times they are friendly but when catalyst aded instead of following la chatelier’s principles, start arguing.

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this is rubbish, it’s all made up
tomorrow one’ll say that he has 14 people inside him & the fourteen one shows on bed

if you don’t know the stuff deep enough, psychological stuff will always be the major concern
you’ll be unsure before trade because you don’t know what will affect price.
get clarity on what,when, why, who, where & how, this will make difference

it’s not wrong person, maybe it’s optimistic one, while pessimist one trying to stop you

bro embrace him & rather kill the incompetence or ignorance side

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Managing two persons made 2.3 times of my account size. More you learn more you earn.

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That’s awesome. So happy for you sir.

So, 2 persons is not bad and better than 1 person :smiley:

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In may 16200 pe give me 23k profit today same 16200 pe give me 22k profit. History repeat itself. Although pe are of different expiry.

Pay close attention, the second person is a woman. She is visible in your dp as well at times!

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There’s a reason why our instincts can make us mistake a rock for a bear, but not the other way round.