The day to day psychology of a trader

cornix said:
SS: I agree with you that trading is a great test for personality traits. And a great tool to improve those. So are many other things in life. But some are dangerous. Trading included.

Of course I'm not saying one should avoid it, far from it. I'm saying one should watch for not getting killed while learning to fly. ;)
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Actually this is a good opportunity to understand what "spirituality" can be about.

Here you are putting in learning to fly, the heavy word "kill".

* Which other words / sentences could you have used?
* why is the concept of failure, disaster and death in your subconscious
thinking pattern?
 
It can be "fall" instead. :)

And the matter is not subconscious. It's the trader's mindset: measuring risk first. No emotions attached. Simply measure the R:R then if it's good, go ahead. :)
 
It looks like this question is a way to analyse more how I can improve my patience in trading.

1) while writing the book, I have to be careful with the typing, etc...
==> transferred to trading : I have to be careful with my analysis.

That means checking and checking over and over again any
trading assumption. So this is an example of patience : patience to
wait for a trade whose assumptions are all well aligned.
 
2) writing requires delayed gratification :
impatience would have had me writing quickly without thinking,
whereas I had to write parts by parts, and to wait before I could see
see the shape of a full book.

==> trading : I will accept smooth growing equity curves
and not impatiently seek equity curves made of high pics ( and drawdown obviously via mirror).
 
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smallStops said:
From my experience, when one is determined to lose money, no matter the tricks and guards put in place, the person will find other ways to lose money (overtrading, etc...).
So it is better - but much more difficult - to get to the root cause and heal whatever caused the problem.
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or they will make it and lose it on bars or women
 
loyek590 said:
or they will make it and lose it on bars or women
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Yes or on gambling, bad investments, bad businesses, or on scammers.
Basically, their mind is looking for any ways to lose money.

Trading identify the issues : in trading, one can not hide from one's psychology.
Now if one does not take the golden opportunity to sort it out, it will just come again later on
in different forms and even worst forms.

Just a question: have you started the notebook ?
 
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smallStops said:
Can you explain, with some examples?
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For example one desires money (or rather what money can buy) while at the same time keeping the (often subconscious) conviction that money is "evil".

Such a person is apt to self-sabotage in a very severe manner.

A bit exaggerated example, but such cases do happen in reality, I witnessed those more than once among my clients and partially even myself (will tell the story some time when in the mood).
 
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