The Invisible Hand That Limits Your Trading

Quote from Duref Mudgins:

Cardiology is a bad example. How about a sports coach? Would you take tennis lessons from someone who doesn't play?

But I share your lack of passion for trading. It is such a dull endeavor. No excitement whatever.
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One last time. I have coached a number of tennis players also. I certainly hope that an aspiring tennis player seeks out a coach to teach him/her the mechanics of tennis. Whether that qualifies the coach to help train the mind of the tennis player is a different domain. There are numbers of sports coaches that never played the game, but were great coaches. Vince Lombardi was a school teacher.

The proof is in performance, not opinion. That I'm very comfortable with. If you insist on fusing two differnet domains, so be it. Cognitive dissonance is like that -- don't try to confuse my beliefs with facts to the contrary. There is powerful evidence that engrained, biased beliefs resist change no matter how much evidence is presented to the contrary. That's my position.

Regarding passion. Traders I know are very passionate about their trading. That is something that is necessary to sustain you on the learning curve. It is also what allows a trader to change. His passion to master trading. I pity you if you do not have passion for how you invest your time and energy.

Rande Howell
 
Quote from Duref Mudgins:

I think what it comes down to is this. If you aren't already mentally tough, you have no business starting daytrading. Or swing trading. Or position trading. Or even investing. Experienced traders here would probably advise noobs not to start, but we need their liquidity. And psych coaches are IMO just taking noobs' money. Of course, we do that, too.
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The weakest players are often the ones who thing they are strong
So who is going to tell them the truth about themselves
 
Quote from olias:

I always thought the best coaches were the ones who were average players, at best. That seems to be the case if you look around the sports world. I'm not even sure if it's a good comparison to a trading coach.

This guy isn't claiming to teach people how to trade, per se. He's helping people deal with psychology, which many would say is the most difficult part of trading....and why trading so interesting
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Olias,
I believe Psychology is a huge part….

That which resides between our ears either holds us back…, or allows us to soar…..


I visited a very widely known trading psychologist in the past…, unfortunately he couldn’t help me…

You know why… Because I was not ready to change... wasn’t his fault – it was totally mine…..

And that is the most important part of anything – until you are ready… you are not ready - imo

But once you are ready – changing is easy peasy

It then becomes simply a matter of doing whatever is necessary

Learning something new…, changing a belief or habit…, doing something differently... doing more of the same….. sitting on yer hands… exiting… entering… whatever….


The sports/ trading analogy – not sure it is a good comparison… any athletics you need some athletic ability..

Hardest thing a trader does is click a mouse (but oh how hard it can be to move that ole index finger at times)

Just some random thoughts, while waiting to see if my stop gets taken out
RN
 
Quote from jjf:

The weakest players are often the ones who thing they are strong
So who is going to tell them the truth about themselves
More...


Their inability to win should suffice - no one can make another see something that person is not prepared to see


So where's your trading nirvana already

RN
 
Quote from Rande Howell:

One last time. I have coached a number of tennis players also. I certainly hope that an aspiring tennis player seeks out a coach to teach him/her the mechanics of tennis. Whether that qualifies the coach to help train the mind of the tennis player is a different domain. There are numbers of sports coaches that never played the game, but were great coaches. Vince Lombardi was a school teacher.

The proof is in performance, not opinion. That I'm very comfortable with. If you insist on fusing two differnet domains, so be it. Cognitive dissonance is like that -- don't try to confuse my beliefs with facts to the contrary. There is powerful evidence that engrained, biased beliefs resist change no matter how much evidence is presented to the contrary. That's my position.

Regarding passion. Traders I know are very passionate about their trading. That is something that is necessary to sustain you on the learning curve. It is also what allows a trader to change. His passion to master trading. I pity you if you do not have passion for how you invest your time and energy.

Rande Howell
More...

From Lombardi's official biosgraphy:

"Deciding on a different career path two years later, Lombardi transferred to St. Francis Preparatory and starred as fullback on the football team. Upon graduation, Lombardi attended Fordham University and starred on the football team, where he was a member of Fordham’s famed “Seven Blocks of Granite”."

I don't think you get it. Passion has no place in development as a trader. Desire maybe. Killer instinct, definitely. IMO successful traders are not nice people. Maybe I'm just projecting.

As to pitying me, come play in MY sandbox sometime. We'll see how calm YOU are. Controlling $46K of volatile tech stocks on 20:1 leverage in a fast market can be exciting. If you're on the wrong side.
 
Quote from jjf:

The weakest players are often the ones who thing they are strong
So who is going to tell them the truth about themselves
More...

Bitch Market does a pretty good job of it. Your wife when she signs the 1040 and asks "What's this $3000 loss on line 13?" Some people on ET read between the lines and deliver devastating advice.
 
Quote from Redneck:

Olias,
I believe Psychology is a huge part….

That which resides between our ears either holds us back…, or allows us to soar…..


I visited a very widely known trading psychologist in the past…, unfortunately he couldn’t help me…

You know why… Because I was not ready to change... wasn’t his fault – it was totally mine…..

And that is the most important part of anything – until you are ready… you are not ready - imo

But once you are ready – changing is easy peasy

It then becomes simply a matter of doing whatever is necessary

Learning something new…, changing a belief or habit…, doing something differently... doing more of the same….. sitting on yer hands… exiting… entering… whatever….


The sports/ trading analogy – not sure it is a good comparison… any athletics you need some athletic ability..

Hardest thing a trader does is click a mouse (but oh how hard it can be to move that ole index finger at times)

Just some random thoughts, while waiting to see if my stop gets taken out
RN
More...

Sorry for the joke:

"How many shrinks does it take to change a lightbulb?"

"I give up."

"Only one. But the lightbulb has to WANT to change."
 
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