Resources for Improving Mental Resilience and Discipline?
- Thread starter Goldlover
- Start date
We eat about 4 meals a day for about 20 minutes each.
We exercise our body once or twice a day for about 30 minutes each.
Similarly, we need to do mind exercises at least twice a day for about 30 minutes each.
You can go GOOGLE for mind exercise info.
Or you can search for it in this PSYCHOLOGY session.
There are tons of information out there.
BUT!!!
Many members will recommend that you automate your trading (SOON) !!!!
My goodness!
Anyway, you have posted the mind thing in the correct session.
We exercise our body once or twice a day for about 30 minutes each.
Similarly, we need to do mind exercises at least twice a day for about 30 minutes each.
You can go GOOGLE for mind exercise info.
Or you can search for it in this PSYCHOLOGY session.
There are tons of information out there.
BUT!!!
Many members will recommend that you automate your trading (SOON) !!!!
My goodness!
Anyway, you have posted the mind thing in the correct session.
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Dr. Van Tharp is the best, he worked with quite a few market wizards. He’s superior to most other psychological coaches. To the best of my knowledge, he’s the only one whose material is very well rounded in all aspects of the trading business, others are just into psych stuff and not as thorough.
From the others:
Rande Howell is very good.
Breatt Steenbarger has books with exercises, but I feel like his approach is bit disorganized, but he’s good. Definitely worth doing.
Jared Tendler is good, but I feel he’s more for those with who struggle with tilt.
Mark Douglas is also good, but he’s more into explaining why a trader needs to learn to think in probabilities, but he doesn’t go into how to deal with psychological issues.
I personally liked a lot Charles Faulkner, but these days you won’t be able to find much material from him.
For example, I learned to do ‘self-analysis’ exercise from Dr. Tharp and to look for warning signs that I should not trade. Because I currently struggle with debilitating chronic pain, my mind very foggy, when I type I sometimes leave out words, so thanks to do this psychological exercise I won’t currently trade anything short term, only EOD ‘set&forget’ approach until my brain is clear. It saved me so much money. Without regular self-analysis exercise, I’d probably be stuck in a rut, pushing the envelope and not be able to quickly adjust and change approach.
You’re going in the right direction, psychological edge is superior to technical edge !!!
Forget it. You have no clue and no edge and that's the reason why you're not making money.
Working on your mental at this point only brings you closer to failure
Get some metrics on where your mind is at:
Inner Balance HRV sensor from HeartMath
Muse 2 or S
are some good bio-sensors
Only your personal backtesting of strategies can give you meaningful stats by which to formulate your trading plan, rule set and positive expectancy of R:R from your system.
The more one can quantify their discretion and discernment into a mechanical system, the more it facilitates isolation of factors for improvement.
Unless, of course, one believes in magical thinking and all one needs is a “winner” mentality.
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FIND something you love;
gold ,silver, not good enough\ copper , steel, stainless steel , yellow brass, lead[could skip the leadLOL. But get in the habbit of doin' stuff you dont like.
Mrs Meyers snapped ''put up your shopping cart when your thru. ''Really?? Really
NOT sarcasm, really WMT need$ the cheap free labor. Repeating pattern.
DR V Tharp noted an amazing yellow brass pattern i neVer dreamed, post it later when I have more time
,
Practice all the mind control and mindfulness that you want, but if you don't have a profitable trading strategy, you're still a losing trader.
I'd focus on profits first. Happiness will usually follow.
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EXACTLY;
even more so, but make sure to factor in your personality, life experience military duty, jobs or business.
Of course dont forget common sense; i WAS real uncomfortablw one time when i was a kid. When we shot my dad's .357 magnum Colt revolver with no ear protection[ uncomfortable stupid-LOL]
Dr Van Tharp noted the top2 US Armey Sharpshooters win plan.
Beliefs include but not limited to;
1]Hunting is fun[implied= target shooting , lead , yellow brass or steel shells or nickel plate brass]is fun.
2] Did not mention ear or eye protection[ I will
]3] IF I miss a shot =its my fault................................................
4]Number 1 of the 2 /rehearsed the whole 1,000shooting match. Most likely why i seldom finish #1=murray-middle born[#2] kid
