Dec

5

What is the limit between a sane passion for something, let’s say trading, and some form of obsession, not to say dependence. How do we discern the scientific quest for markets’ inefficiencies, conducted with determination, and the dream of a Don Quixote fighting the windmills without either skill or knowledge? It is difficult to say.

You do not reach significant results if you do not have significant objectives. You do not have significant objectives if you are not a dreamer.

Success might be a way to measure and define the difference between passion and determination. If you are successful you can say that your passion and determination brought you to understand the one market inefficiency sufficient enough to make a living.

After several years of frustrating tests and losses the same determination might be defined as obsession and dependence — the dream of a better life searched for without method and skill.

Dr. Mark Goulston adds:

GM Nigel Davies comments:

I think that people become passionate about what brings them success, appreciation by others and therefore self-respect. The ‘winner’ concerned will most likely become dependent on that feeling and the activity that produces it, working passionately to maintain or increase it.

Of course you will hear many other reasons for the pursuit of excellence in something, but probably these are more carriage than horse. And the glorification of the field concerned is usually just more fuel for the ego, whatever they say.

This might explain why trading success is so elusive. The drive to succeed is ego based whilst the ego itself must be subverted to logic and method. Not an easy trick to pull off.

Russel Sears mentions:

Often the line between insanity and passion is when the effort and work becomes the goal instead of the outcome.

For runners they often become obsessed with “mileage” and have to run so much per day or week regardless of physical condition. Ron Hill, was the prime example of this. He was a British marathoner who never really achieved his best, and his obsession to mileage cause a very up and down career. Now rather than his performances, he is best known for having the longest documented running streak for consecutive days. Running through sickness, car accidents, even knee surgery, hobbled on crutches for 2 miles.

Again the obvious connection to overtraining and over trading. Learn to rest and recover.

The other line is being objective enough about your talents that your passion does not blind you to opportunities.


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