There seems to be more problems with your "brain".
The most important skill for succesful traders
- Thread starter Trading Education Buyer
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There seems to be more problems with your "brain".
One or two other, formerly active members have apparently had exactly the same subconscious programming as you. As well as agreeing with one or two of your other views, as well.
Interesting, isn't it?
Let us concentrate on the subject in the OP .This is not going to help readers.
Another great discussion on the orignal discussion and title
http://ibankcoin.com/hattery/wired-to-lose-the-psychology-of-trading/
Conclusion: Humans Are Not Made To Be Profitable Traders
As you can see, psychology and research show that humans are not made for trading and second, that our belief system can be used against us by smart trading marketers. The takeaway message of this article is that being aware of how your brain works when trading is a key element on the way to becoming a profitable trader and it helps you avoid some of the most common trading traps.
https://www.elitetrader.com/et/threads/mindfullness-for-traders.304680/#post-4364780
I have benefitted as a trader from mindfulness
http://traderfeed.blogspot.co.uk/2014/09/trading-and-mindfulness-training-brain.html
Think about what this means: In the heat of market activity, we are most likely to be activating those flight or fight centers that help us deal with emergencies. Just as we want to be most planned and deliberate, the blood flows in our brain are moving away from the centers that would execute plans and toward centers that would lead us to be more reactive.
The challenge is to stay mindful in the midst of fast moving markets and rapid shifts in P/L.
I have benefitted as a trader from mindfulness
http://traderfeed.blogspot.co.uk/2014/09/trading-and-mindfulness-training-brain.html
Think about what this means: In the heat of market activity, we are most likely to be activating those flight or fight centers that help us deal with emergencies. Just as we want to be most planned and deliberate, the blood flows in our brain are moving away from the centers that would execute plans and toward centers that would lead us to be more reactive.
The challenge is to stay mindful in the midst of fast moving markets and rapid shifts in P/L.
Look for set and forget strategies , this will increase your odds of sucess.You can eliminate the psyche handicap from trading.
‘Set and Forget Trading’ is as simple as its name implies; you simply “set” the trade up and then “forget” about it for a period of time. This has two major benefits: it makes it far easier to stay emotionally disciplined and it also allows you to go about your life as you normally would, because you will not be spending hours in front of your computer over-analyzing the markets…It will be healthier for you because sitting at a desk , loses 10 years of your life.
Set and forget strategy here
technical analysis dax signal
professional traders may actually do less technical and fundamental “homework” than amateur / struggling traders; pro traders have mastered their trading strategy and they simply stick to their daily routine and see if their edge is there. If there edge is not present, then they just walk away for a while because they know that the market is a continuous stream of self-generating opportunities, thus they do not feel pressured or anxious to trade. If their edge does show up then they set their orders and walk away, accepting the fact that any further action will probably work against them because it will be a vain attempt to control the uncontrollable and would not be an objective action.
https://www.elitetrader.com/et/threads/edge-of-buying-the-stock-market-dip.304496/
set and forget strategies will increase your odds of sucess
https://www.elitetrader.com/et/threads/calendar-spreads-option-opportunities.304672/#post-4364832
‘Set and Forget Trading’ is as simple as its name implies; you simply “set” the trade up and then “forget” about it for a period of time. This has two major benefits: it makes it far easier to stay emotionally disciplined and it also allows you to go about your life as you normally would, because you will not be spending hours in front of your computer over-analyzing the markets…It will be healthier for you because sitting at a desk , loses 10 years of your life.
Set and forget strategy here
technical analysis dax signal
professional traders may actually do less technical and fundamental “homework” than amateur / struggling traders; pro traders have mastered their trading strategy and they simply stick to their daily routine and see if their edge is there. If there edge is not present, then they just walk away for a while because they know that the market is a continuous stream of self-generating opportunities, thus they do not feel pressured or anxious to trade. If their edge does show up then they set their orders and walk away, accepting the fact that any further action will probably work against them because it will be a vain attempt to control the uncontrollable and would not be an objective action.
https://www.elitetrader.com/et/threads/edge-of-buying-the-stock-market-dip.304496/
set and forget strategies will increase your odds of sucess
https://www.elitetrader.com/et/threads/calendar-spreads-option-opportunities.304672/#post-4364832
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I don't see this in President elect Trump and he certainly didn't act calm to get elected but that did the trick as so many are tired of the same Congress of do little but we get quietly deeper in debt.
Hey great forum topic TEB.
The "million dollar secret" ... discipline and patience. I'd also like to share that looking deep inside yourself at your own patterns of thought and emotion that spin out problematic behaviors is very valuable. Writing (streaming out) your own thoughts in an honest way and then reviewing them can act as both release and an awareness exercise of bringing up the "unconscious you". Seems like very few people I know personally do this, although it has value well beyond trading.
Ratcheting up a consistent psychology has been a major undertaking spread out over a long period of time for me ... interestingly I have found ways to be motivated by this journey beyond the money -- because of the steep learning curve, there really has to be an underlying drive beyond just making money (IMO). One of these is just the fact that you have to improve your own underlying character in certain ways to be a better trader -- so for me the motivation of becoming more disciplined and patient in other areas of my life as a result of that gradual transformation in trading...well it speaks to me.
In general, discernment and trust/valuation in knowledge and wisdom in the first place seem to be huge issues with being human -- most can't see why certain knowledge or ways of approaching something has an advantage over just "any old way". It is a culture of deep confusion and putting on the ritz of an appearance of knowing what's going on.
I think the depth and power begin for real change from "I don't know"
"Calmness is Power. Self-Control is Strength"
The "million dollar secret" ... discipline and patience. I'd also like to share that looking deep inside yourself at your own patterns of thought and emotion that spin out problematic behaviors is very valuable. Writing (streaming out) your own thoughts in an honest way and then reviewing them can act as both release and an awareness exercise of bringing up the "unconscious you". Seems like very few people I know personally do this, although it has value well beyond trading.
Ratcheting up a consistent psychology has been a major undertaking spread out over a long period of time for me ... interestingly I have found ways to be motivated by this journey beyond the money -- because of the steep learning curve, there really has to be an underlying drive beyond just making money (IMO). One of these is just the fact that you have to improve your own underlying character in certain ways to be a better trader -- so for me the motivation of becoming more disciplined and patient in other areas of my life as a result of that gradual transformation in trading...well it speaks to me.
In general, discernment and trust/valuation in knowledge and wisdom in the first place seem to be huge issues with being human -- most can't see why certain knowledge or ways of approaching something has an advantage over just "any old way". It is a culture of deep confusion and putting on the ritz of an appearance of knowing what's going on.
I think the depth and power begin for real change from "I don't know"
"Calmness is Power. Self-Control is Strength"