How do I get my ego out of my trading?

Quote from kubilai:

Maybe you should program yourself so that your ego is inflated by acting like a disciplined trader, not by being right, nor by monetary gain.

You can be right today wrong tomorrow, make money today lose money tomorrow. But when you're a disciplined trader you are a disciplined trader, no one and no market can take that away from you. Add some edge and way you go?
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exactly correct. ego should rise when one acts according to a plan/discipline and executes flawlessly regardless of being correct or wrong on that trade. trying to separate ego from oneself is futile but for a few eccentric individuals. the key is to get ego to work for you and not against you; what some would refer to as self "sabotage" regarding the latter.

some smart folks here...

alex
 
I don't think it is important to 'get the ego out of trading'. Ego can serve as the 'self-aware' balance between the intellect and the instinctive part of the brain and a good thing for a trader.

There are several articles and published studies on the workings of the brain in times of 'fear/stress'. Several of these findings suggest that when stressed the 'amygdala', primitive/instinctive, part of the brain takes over as part of an evolved survival mechanism. The body then starts to flood the system with adrenaline causing heart and breathing to increase.

The front part of the brain, responsible for executive decision making, doesn't get a chance. The optical nerve signals are received by the amygdala before they reach the front of the brain and a 'survival impulse' action can occur while the front of the brain only watches. For the trader this explains a lot in my opinion. Evolution has given us a brain designed to survive. However, this survival mechanism can work against the trader. If you have ever exited a position early and asked "Why did I do that afterward?" or refused to exit a losing trade long after your trade plan had defined an exit; the reptile part of the brain 'got to your trade first!'. As several posters have suggested this behavior can only be overcome by time and practice not weekend seminars and books. Seminars and books only strengthen the front part of the brain and it does nothing to address the mind/body issue. Learning to successfully play poker is probably a better exercise than attending another trade seminar because it can help to learn to control the 'gut impulse' part of the problem.

I am sure there are successful traders who understand the market from their gut and will be more at home in a fast paced market. Everybody is different, there are no easy answers. For me, trying to understand the 'mind/body' problem has helped my trading a lot over the past year.

Just some thoughts on a lazy Sunday afternoon....

Good luck
 
I have worked a lot in the past with sports psychologists and have always found them helpful. Recently I had a fellow move in next door to me who used to be a psyciastrists for the US Olympic Track Team. We worked on my migraines using visualization and imagery techniques and I have only had 3 in the last 2 months, which is much better than I used to be (3 to 4 a week). I am going to start working with him on my trading this week and see if it helps there, which Im sure it will.

Brandon
 
The ego is a relic of the mind. Our culture lives in the mind. It manages to filter out almost every useful piece of relevant data to trading that you are exposed to.

The solution is both elegant and simple. It is not easy. Don't trade with your head, trade with your body. I'm not referring to intuition, or gut instinct. I'm talking about using the kinesthetic sensory system in lieu of the auditory or visual. The shifts in awareness and perception are incredible.

Doing so elliminates the need to beat the crap out of yourself as Pound the Rock suggests (no disrespect intended PTR, I did the same thing for so many years it ruined my health), and produces a very pleasant byproduct: the rest of your life becomes soooo much more interesting.
 
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