many traders suffer delusions in processing information about a trade

BONECRUSHER said:
I like how the other traders just sat there and watched...they probably wanted the guy to get pummeled too! He must of been an ahole. I agree however, the aggressor needs some anger/coaching management.:fistbump:
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The best solution for traders , to eliminate the psyche problems , is to employ a data entry clerk .The data entry clerk (a learner with some quality input to trader) will guarantee the success of many traders .As part of some coaching package , and some profitable formulas on spreads , a third service of data entry clerk(trade entry) may also assist traders to become highly successful.The trader will eliminate emotions and stress from trading , and can trade rationally.

good luck!
 
BONECRUSHER said:
Gosh, if you can't find a coach (or afford one), find a trading buddy...one that has a lifestyle of being organized and disciplined. You both keep an eye on each other...checks and balances.:)
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Traders can hire virtual assistants for less than $10k a year , a small price to pay.These assistants can monitor your screen 10 hours a day , do back tests , do excel analysis , keeping records and input your trades.

https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=virtual assistants
 
I have a very close friend who has the terrible habit of getting convinced that the price will move in a certain direction sometimes, even when they can clearly see the signals for a reversal. It's like they've put on blinders. I mean, I do that too sometimes, but in their case it's egregious.
 
mlawson71 said:
I have a very close friend who has the terrible habit of getting convinced that the price will move in a certain direction sometimes, even when they can clearly see the signals for a reversal. It's like they've put on blinders. I mean, I do that too sometimes, but in their case it's egregious.
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How Emotion Can Cloud Judgment

Let’s take another example, the famous quote ‘love is blind’ – love is all about accepting a person with his or her faults, however, sometimes love leads people into IGNORING the faults of the person they love, and creating their own illusion of the person they live - this can, at times, prove to be extremely dangerous.

https://www.google.co.uk/webhp?sour...F-8#q=don+t+let+emotions+cloud+your+judgement

https://hbr.org/2015/05/dont-let-emotions-screw-up-your-decisions
 
mlawson71 said:
I have a very close friend who has the terrible habit of getting convinced that the price will move in a certain direction sometimes, even when they can clearly see the signals for a reversal. It's like they've put on blinders. I mean, I do that too sometimes, but in their case it's egregious.
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He is under emotional control from the subconscious , his rational brain is blocked (amygdala hijack).

I had a trader who would put on trades earlier than trading time , because he wanted to close trade early before his dinner time.emotionally driven decision here.think
 
mlawson71 said:
Do you have any advice how to help him overcome that? It's been going on for years.
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The problem is ancestral/hereditary to humans .It is deeply embedded in our genes and our amygdala emotional brain , we can not change this chemistry/bio.

There are psychologists selling mindfulness techniques.I personally don't think it can work but I have never tried it ,it may work for you

https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=mindfulness

work in a team of several traders , working from same office , with the other traders managing the entries of another trader .This will solve the problem , but may create other problems of other traders like too friendly atmosphere, more people with more problems etc

You need traders or yourself with full discipline , meditation , total focus , totally free mind , total concentration /focus (no phone calls or any disturbances to the thoughts) and very serious office atmosphere.

https://www.elitetrader.com/et/thre...l-intelligence-than-emotionless.299723/page-3

I SOLVED MY PROBLEM AS FOLLOWS:

The best solution for traders , to eliminate the psyche problems , is to employ a data entry clerk .The data entry clerk (a learner with some quality input to trader) will guarantee the success of many traders .Traders can hire virtual assistants for less than $7k a year , a small price to pay.These assistants can monitor your screen 10 hours a day , do back tests , do excel analysis , keeping records and input your trades.

https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=virtual assistants
 
mlawson71 said:
Thank you so much for those recommendations, I'll go through them in detail!
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I missed IMPORTANT criteria in analysis = cognitive blindness


Inattentional blindness, also known as perceptual blindness, is a psychological lack of attention that is not associated with any vision defects or deficits. It may be further defined as the event in which an individual fails to recognize an unexpected stimulus that is in plain sight.


https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=cognitive blindness
 
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