Practicing mindfulness & meditation

Golden Retriever Trading said:
As many successful traders may be aware, cognitive dissonance plays a role in bad trading practices. When one is taking a trade and it goes against them, some people may have the tendency to try and convince themselves to stick to their trade. If for example, they are long a market, they will filter out any bearish information and only focus on the bullish reasons why they made the trade, leading to their demise, often martingaling (can martingale be a verb?) their position as they perceive a better buying opportunity, and that the market is "wrong".

I imagine practicing mindfulness can help deter this kind of behavior. I have recently started it and have seen some results, though perhaps it could be a placebo effect.

Does anyone have any thoughts, opinions on this? Does anyone practice it? How effective is it?
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Combative personalities
Golden Retriever Trading said:
As many successful traders may be aware, cognitive dissonance plays a role in bad trading practices. When one is taking a trade and it goes against them, some people may have the tendency to try and convince themselves to stick to their trade. If for example, they are long a market, they will filter out any bearish information and only focus on the bullish reasons why they made the trade, leading to their demise, often martingaling (can martingale be a verb?) their position as they perceive a better buying opportunity, and that the market is "wrong".

I imagine practicing mindfulness can help deter this kind of behavior. I have recently started it and have seen some results, though perhaps it could be a placebo effect.

Does anyone have any thoughts, opinions on this? Does anyone practice it? How effective is it?
More...
Breathe deep...better profits. Lol
 
Mindfulness makes you a better trader and improves your p&l, because it forces you to look to what you really do to mess up your trading.
here you are expressing your difficulties in taking your losses. the meditation has allowed you to identify the way you do it: you filter out adverse informations, and only look for confirming information. now, you could do this experiment, that you can only achieve thanks to meditation : what happens after your trade is filled, and just before you start the cognitive dissonance behaviour ?
what happens during this split second that shift you into the cognitive dissonance?
 
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uuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuum

While I was meditating in the tub
My outstretched foot hit the hub
The sparks flew poooooof
And I hit the roof.
Eureka ..............I will buy !!
 
Mindfulness.jpg
 
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