That is a very rational way of looking at it, but human emotion by nature is not rational. You can predict all the possible outcomes and still be anxious.
Psychology? ...so much wasted time.
- Thread starter dartmus
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That is a very rational way of looking at it, but human emotion by nature is not rational. You can predict all the possible outcomes and still be anxious.
Lawrence, you and me both suffer from the same problem. All of our cultural reference points are from the 80's and 90's. Well, maybe that is not a bad problem to havePsychology is kind of overrated -- I mean you should obviously think about the trade and overall process...but don't Overthink it, because it will essentially make no difference beyond that initial point.
This thread reminded me of a movie line from Most Wanted 1997:
'Yeah, well, I'm a Marine. We don't plan. We improvise."
...there's kind of alot of truth to this movie quote in regards to trading -- if you think about how in trading, we are only so much in control and correct.
With your vast knowledge of B-Movies you must either be an ex-worker of some type from Hollywood or a former video store owner...just a guess. I can watch a film by Cannon Films anytime and it never gets old lol...
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You know what is worse than a "Trading Education Buyer"??? A "Trading Education Seller" lol, just kidding! Don't go getting mad at me now!
NO! they are not worse , they are better , they are great traders and teach the world how to become great traders .They dictate content on forums , as great traders , gurus , mentors of price action courses , trend trading , technical anylysis .There is no need for psychology , in these places , real trading does not having any psychology.
Just sign up for annual $1500 a year price action course (YOU DON'T NEED ANY PSYCHOLOGY), most of it is free on the YOUTUBE PRICE ACTION COURSE and google'S PRICE ACTION COURSE.
I took the opportunity to make a lame joke, forgive me. No one is saying Psychology is totally worthless but I think too many people without a plan use it as an excuse for failure. Kind of like "hey I am 400lbs and women hate my guts! I better work on my psychology!". "Hey I decided to open a luxury wine shop in a crappy part of town, I don't have any customers...I better work on my psychology!". (Trading Plan)>(Psychology)|(Psychology)>0|(Price Action Psychobabble)<0
Trading plan < 0 , if (Price Action Psychobabble)<0
Trading plan > 1 , if (Price Action Psychobabble)>1
To write a great trading plan , one needs a knowledge of psychology , to create a great profitable strategy.
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Could you give an example of how psychology benefited you in your last winning trade? Did you know your entry criteria before the trade happened? Was the benefit during the trade? Do you have a mental rehearsal routine before the day starts? Why does trading psychology look like on a day to day basis for Trading Education Buyer? What is the #1 book on Trading Psychology today if you had to pick one?
Patience of sitting and waiting for the right EDGE trade.Patience is a professional traders edge.
I learn't by you tube videos by Menaker , howell , mark douglas , robert sapolsky ,Tharp and many other non trading psychologists
I don't enjoy reading , so I learn more from youtube videos , my first book on psychology was
Trading in the Zone by Mark Douglas .
If you look at all my psychology threads , I avoid trading by sitting infront of a screen 10 hours a day .I just go for set and forget strategies , these reduce the phsychological handicap of the human mind.I found a method to eliminate my phsyche from trading .I trade set and forget strategies with options.If I had not studies psychology first , I would not have a great trading system.
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I agree with you on everything but Tharp.
Could you post the time stamps on your trades in your journal? Could you also show the bid/ask size at the time of fill? For example, you said "bought a 10300 put for 120 for dec" in your journal. You could easily post the time stamp along with that, it is still in your trading records on your platform right now, it will also be in your daily blotter that most brokers provide.
I am not saying you are a liar but could you go ahead and post a time stamp for that trade here or in your journal? Then all of us can go back and match that with the tape. It will confirm that your trades are real. It will add greatly to your credibility in your live journal. Thanks!
Could you post the time stamps on your trades in your journal? Could you also show the bid/ask size at the time of fill? For example, you said "bought a 10300 put for 120 for dec" in your journal. You could easily post the time stamp along with that, it is still in your trading records on your platform right now, it will also be in your daily blotter that most brokers provide.
I am not saying you are a liar but could you go ahead and post a time stamp for that trade here or in your journal? Then all of us can go back and match that with the tape. It will confirm that your trades are real. It will add greatly to your credibility in your live journal. Thanks!
You don't understand , I have several strategies and am extremely busy during trading time , so I call my trades in advance when I can .The time stamp is on the thread , I might post 2 hours after a deal (becuse of chaos/busy in the markets).
Some of the trades are called 6 hours in advance , these have a time stamp on the thread .
You learn something from each pychologists .I learn't something from Tharp.I am grateful to all of them.
The people who dismiss psychology are usually scammers , with the other motives , like trying to to sell price action courses without the need for psychology.