SPEEDY IS RIGHT.LOONEY TRADERS ON e t
Human brain is wired to lose in the markets
- Thread starter Trading Education Buyer
- Start date
A handicap differential is calculated from the scores, using the course slope and rating, and the player's handicap differentials are used to calculate the player's handicap. A golfer whose handicap is zero is called a scratch golfer. A golferwhose handicap is approximately 18 is called a bogey golfer.
How many of you fake tradersthink this is incorrect title , and you are all succesful and making a lot of money?
Please post I am succesful , I make money and I am a profitable trader .
http://ibankcoin.com/hattery/wired-to-lose-the-psychology-of-trading/
I wonder why Dalio or Buffet or Soros are not wired to lose!
Haha. I'm laughing
The truth is that different people have different motivation. Some of them are just afraid of losses, and some want to achieve success. That's all. I would not say that people are wired to do or not to do something. The other way, there wouldn't be any millionaire on our planet.
They have been many decades very active in the markets.
So surely, they are wired - or learned to wire themseves as Dalio is a big fan of meditation - to get a positive result.
"The human brain is wired to lose in the markets."
FALSE
"The publically educated brain is wired to lose in the markets."
TRUE
If you want to be wired to win you have to undo the wiring that you were wired with when you went through the public school system. For example, even though it wasn't a subject or a particular lesson, I bet all of you who were publically educated learned to feel a sense of personal responsibility for things you can't control (but believe you should be able to control). I bet it even runs so deep that you think every person in the world has that tendency (they don't).
If you want to win, you have to accept that you can only control when you buy and sell, and cannot control the outcome, the frequency of trades signals, the size of each win, the speed with which the price moves, etc. People who were groomed for corporate and public leadership through private schools learn a much more amoral code of ethics and are not made to feel responsible for anything much less the things they can't actually control. That's why the 99% judge them as being "morally bankrupt." By the way, the lack of responsibility is just one example. To win, you really have to kick your blue collar/white collar "public school" training and adopt a world view that is the complete opposite of "If it's to be it's up to me." The markets move on their own. And if you feel even the slightest sense of responsibility for any outcome after you press "submit" and open a position, you will be paralyzed by fear so that losing trades run deep, or so compulsive that you can't hold a winner more than a few seconds.
FALSE
"The publically educated brain is wired to lose in the markets."
TRUE
If you want to be wired to win you have to undo the wiring that you were wired with when you went through the public school system. For example, even though it wasn't a subject or a particular lesson, I bet all of you who were publically educated learned to feel a sense of personal responsibility for things you can't control (but believe you should be able to control). I bet it even runs so deep that you think every person in the world has that tendency (they don't).
If you want to win, you have to accept that you can only control when you buy and sell, and cannot control the outcome, the frequency of trades signals, the size of each win, the speed with which the price moves, etc. People who were groomed for corporate and public leadership through private schools learn a much more amoral code of ethics and are not made to feel responsible for anything much less the things they can't actually control. That's why the 99% judge them as being "morally bankrupt." By the way, the lack of responsibility is just one example. To win, you really have to kick your blue collar/white collar "public school" training and adopt a world view that is the complete opposite of "If it's to be it's up to me." The markets move on their own. And if you feel even the slightest sense of responsibility for any outcome after you press "submit" and open a position, you will be paralyzed by fear so that losing trades run deep, or so compulsive that you can't hold a winner more than a few seconds.
You can change your brain and trading style ,rewire your brain
https://www.elitetrader.com/et/threads/the-most-important-skill-for-succesful-traders.304679/