"spirituality" videos - Part II

And now getting a better understanding, via 'plan the trader', of how to recognise, analyze and manage the thinking patterns during trading.

I am realising that I am just happy. The psychology/spirituality work here has just been phenomenal. I am really looking forward to what september month will be in terms of coaching. Everything is much more easier now. It is just so amazing really.
hmmm need to pop back for a visa. Interesting that we do need a visa.
 
just to remind the total contempt for indi-paki-arab who demonstrate disgusting mentalities by their behaviors , not everybody commenting on youtube likes abhorrent values :)

http://www.youtube.com/watch?v=xGn6HORTN9w&list=PLeCUgY3L_8xYhGK7yf5uqc7X1JPXuWtH-

<iframe width="640" height="360" src="http://www.youtube.com/embed/xGn6HORTN9w?feature=player_detailpage" frameborder="0" allowfullscreen></iframe>

Not all cops are corrupt! :D
- <iframe width="640" height="360" src="http://www.youtube.com/embed/7-n1enRPn4I?feature=player_detailpage" frameborder="0" allowfullscreen></iframe> LOL

- http://www.samenow.com/bio.html
- http://www.mirror.co.uk/news/uk-news/inside-clinic-treating-britains-worst-2070467
- go and ask your payment, advance, deposits back to the prostituta and her pimp. I am sure for the right price the two prostitutas will be willing to service - on the side of course as in the past.

In the same vein, the prostitutas & her pimp have been massively encouraged to seek clinical psychiatric help - looks like nobody ever explained to them where to get some help- feeel free to join them and take as well your other paki-indi-arab assholes with you to the clinical psychiatrists. Your money stinks.

So you will understand that self-respecting individuals who have standards and values, are pleased to send the message : indi-paki-arab assholes by their behavior : FUCK OFF. Or would you prefer masses of people be made aware of your type of mentality? .
 
Few days to go before trying live my 'plan the trader'. :)
So I have the chance to have few more days to study overconfidence. :)

I am really pleased about these holidays - I really feel deep happiness. :)
If I have the time , I will write an article about this place and send it
to the journalist I met. :D. The locals will be astonished to see what
some people like here. :D.

It was also interesting to come across a person who explained how he coped while being into something deep down he didn't like, and basically at the end hated.
It really reinforced my view that one can not go on and on with something
one does not like without sooner or later jeopardizing one's health
( aging much quicker than one should, having injuries over and over again,
dying much younger than one should, ... ), or developing some unhealthy
attitudes and behaviors. Basically there are consequences/costs in being
into something not meant for oneself.
I realise that each person does know for herself/himself what is meant or
not meant for oneself. I am really glad the coaching is allowing me to
learn to respect myself, make healthy choices for myself - even if some
deranged people would much prefer to impose unhealthy choices for
myself. I can really thank again the trading for getting me into
psychology/spirituality.

Now that I understand psychology/spirituality, I understand really why it
is important to respect "life principles".

Anyway, I am glad that this person took the best decision:
to quit and explore, in peace with no interferences, what he really wanted to do . :).
 
:eek: :confused: :confused: Now I am reading an article that says that "overconfidence decreases when accuracy is above 80%". :eek:

Now, with faulty reasoning, I could deduce :
so if I get a win rate of over 80%, my overconfidence would decrease ?
 
http://www.fbi.gov/stats-services/publications/law-enforcement-bulletin/june-2010/good-decisions
" Good decisions : tips and strategies for avoiding psychological traps"
Here is my understanding of the article. step-by-step we will get there and handle this overconfidence and may discover other psychological/spiritual issues.
People can call traders cowards, but a good trader keeps hiding till psychological/spiritual climate is cleared. Only when all is clean should good traders take risks. Just now the psychological/spiritual climate is very polluted :).

... while many people believe they are good-decision makers , relying on logical facts... that is absolutely not true. Most people have never been trained on proper decision-making methods.
... when making decisions, bias will influence the quality of the decisions.
... the bias will determine :
- what one notices
- what one remembers
- how one deecide.
 
http://www.fbi.gov/stats-services/publications/law-enforcement-bulletin/june-2010/good-decisions
" Good decisions : tips and strategies for avoiding psychological traps"

...Bad decisions are often explained by unclear option, relevant information ignored, costs/benefits not well evaluated. Actually, other reasons of bad decisions are due to biases that are hardwired in how human think and decide...

The general model of decision making assumes these steps :
- identification of the problem
- define the objectives
- generate alternatives
- evaluate possible solutions
- select best options.
This model assumes that :
- problems are clearly and properly defined
- decision makers have all relevant information
- each choice has carefully been weigted in terms of costs/benefits
- stakeholders are motivated
- the process is free of bias and error.
Oh well, after 50 years of believing that, turns out things do not work like that! :eek:

Humans have thinking pattern errors and bias.
Among these are 5 of them : framing, overconfidence, selective attention, information overload, emotions ...
 
http://www.fbi.gov/stats-services/publications/law-enforcement-bulletin/june-2010/good-decisions
" Good decisions : tips and strategies for avoiding psychological traps"


framing

Mind has a model that mould the understanding, interpretation and the solution to a problem.
Once a label is made,this creates a frame and the human mind can't remain objective. It has Frame blindness: Unseen psychological pressure make everything fit the frame by noticing only what agrees with the label/frame , and ignoring any and all information ( objective or relevant) that does not support the label/frame.

Tips to avoid the traps of framing:
- who framed the problem? how was the problem framed ? what type of solutions this framing creates ?
- how can the problem be framed using different perspectives and viewpoints : frame the problem from differeny viewpoints
- look to new ways of framing the problem and how new frames influence decisions.

Looks like beginners in trading do well to try different trading styles and approaches, so as to see different viewpoints/approaches to trading.


Framing is really similar to having a single story.

<iframe width="640" height="360" src="http://www.youtube.com/embed/D9Ihs241zeg?feature=player_detailpage" frameborder="0" allowfullscreen></iframe>
 
http://www.fbi.gov/stats-services/publications/law-enforcement-bulletin/june-2010/good-decisions
" Good decisions : tips and strategies for avoiding psychological traps"

overconfidence

70% of airplane accidents, 90% of car accidents are due to overconfidence.
Most law enforcement officers death are due to overconfidence :
"overconfidence, complacency, rushing in without a plan"

Overconfidence makes one :
- miss important clues
- miss opportunities
- take too high risks

Overconfident people need to keep improving ways decision making is made.
Obviously overconfident people are optimistic about the future of their choices.

Tips to avoid trap:
- examine assumptions and beliefs. Particularly those where the beliefs are the strongest.
==> check your plans in details. What more can you do to test and evaluate your trading plans?
- create different scenarios. Create more scenarios where things can go wrong.
==> evaluate how much the MAE can be
==> evaluate how long the MAE can be, aka how long the market can be teaching you a lesson.
- list what one does not know.
==> trading : is just now a HF blowing up and a mega move coming?
prove you know which way they are going to create a spike?
==> Is an investment bank trader in the hole and turning rogue and the news might just come out now? Prove you know for sure which way they are going to blow up?
==> Is a pension fund ready to remove its money from a firm heavily long/short on this instrument ? How comes you don't know this info? prove you know the info for sure.
)
- seek those with different opinions, specially at different stages of the decision making process. Looks like trading forums can be useful to help overconfidence - particularly checking those who are thinking of taking an opposite trade).

Good video ( thanks for the video)
<iframe width="640" height="360" src="http://www.youtube.com/embed/XyOHJa5Vj5Y?feature=player_detailpage" frameborder="0" allowfullscreen></iframe>
 
You must log in or register to reply here.
Back
Top