Have to say, slightly disappointed this section doesn't get more posts?
Would many agree with my thoughts that psychology is one of the most key elements in being successful as a trader?
Not many psychology posts :(
There used to be lots, but that was primarily driven by Ferru, who seemed fascinated by this
I have said many, many times on this forum - "the difference between a successful trader and a bankrupt one, is what they do when faced with a red screen"
I stand by this 100%, because the thing that f**ks people over and again in trading is not reacting well to a loss. This is all between the ears
I also entered this game full-time when I had no bird or kids. In other words, I had the freedom to take risks and spend all my hours working this out - not so easy when you're worried about other people
I have said many, many times on this forum - "the difference between a successful trader and a bankrupt one, is what they do when faced with a red screen"
I stand by this 100%, because the thing that f**ks people over and again in trading is not reacting well to a loss. This is all between the ears
I also entered this game full-time when I had no bird or kids. In other words, I had the freedom to take risks and spend all my hours working this out - not so easy when you're worried about other people
None of us have heard this yet!!!!
You want psickology?
This a must............. don't trade the one in the curlers
try this
(Only heard the trailer it's about bookies banning winners - ask Mr Webb he's done a video on it)
You want psickology?
This a must............. don't trade the one in the curlers
try this
(Only heard the trailer it's about bookies banning winners - ask Mr Webb he's done a video on it)
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Psychology imo is definitely up there as one of the most under rated parts of trading but something that wildly effects different people in different ways which i guess is part the reason why there is not as much stuff or should i say relevent and reliable stuff compared with other elements of trading, although this forum does have 170 topics and over 1000 posts to get started with.
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stueytrader
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Agree with both those points LeTiss - in fact there's some pretty decent psychology research which points to 'loss response' as key in all problem gambling too. We've all felt the response to some degree over the years I'm sure. Your second point is interesting too - I've got a family and it can be tricky at times to devote the amount of time and effort you want to. Not sure what the answer to that one is though!?LeTiss 4pm wrote:There used to be lots, but that was primarily driven by Ferru, who seemed fascinated by this
I have said many, many times on this forum - "the difference between a successful trader and a bankrupt one, is what they do when faced with a red screen"
I stand by this 100%, because the thing that f**ks people over and again in trading is not reacting well to a loss. This is all between the ears
I also entered this game full-time when I had no bird or kids. In other words, I had the freedom to take risks and spend all my hours working this out - not so easy when you're worried about other people
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stueytrader
- Posts: 863
- Joined: Tue Dec 15, 2015 6:47 pm
Yep, fair point, I will read more thoroughly through what's already here too!Dallas wrote:Psychology imo is definitely up there as one of the most under rated parts of trading but something that wildly effects different people in different ways which i guess is part the reason why there is not as much stuff or should i say relevent and reliable stuff compared with other elements of trading, although this forum does have 170 topics and over 1000 posts to get started with.
It would be good to keep it ongoing however, as I think we all need regular updates in this respect, and talking on here at least you can know there's others experiencing similar issues - talking to people who don't trade is like talking to your pet hamster at times, rather pointless in relation to trading psychology..
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stueytrader
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- Joined: Tue Dec 15, 2015 6:47 pm
I think I must have been pre-empting something with my post...went on tilt today, for the first time in ages.
Think I was in need of my psychology sorting! Lucky for me, it hasn't cost me (this time) but it's a good warning that I need to be more careful with knowing myself in future.
*heads off to read about anti-tilting strategies*
Think I was in need of my psychology sorting! Lucky for me, it hasn't cost me (this time) but it's a good warning that I need to be more careful with knowing myself in future.
*heads off to read about anti-tilting strategies*
I've done a load of work on the psychological aspects of trading, but whenever I do a video on it. It gets very little interest, which is odd, because it's one of my biggest edges.
The ability to act in the face of everybody else telling you not too, shouldn't be underestimated.
The ability to act in the face of everybody else telling you not too, shouldn't be underestimated.
Just out of interest Peter, do you cover this area on your courses?Euler wrote:I've done a load of work on the psychological aspects of trading, but whenever I do a video on it. It gets very little interest, which is odd, because it's one of my biggest edges.
The ability to act in the face of everybody else telling you not too, shouldn't be underestimated.
Im not that surprised that its not discussed more regularly even though as above its been said it is one of the fundemental building blocks of a successful trader and actually of a character in general.
IMO its a fabulous subject but one that is so complex as most human beings are generally unaware of or are not prepared to accept their own personal emotions and their reactions to surprise /threatening events (albeit a fairly less than life threatening red screeen from no where in this case)
Secondly the ones that are fortunate enough to be aware are generally not trained to react any differently to what is "their own natural instinct".We all ,based upon our desires ,life situation etc ,have stress points where we will react differently than to when the situation is less stressful.
As everything in life it requires awareness and acceptance of the issue and your own natural reaction to that situation ,"YOUR" stressful moment (this will change depending upon how serious your subconcious feels the situation is then a willingness to change and work at the solution by training yourself to make better decisions under pressure assuming of course you know what the correct decision should be
IMO its a fabulous subject but one that is so complex as most human beings are generally unaware of or are not prepared to accept their own personal emotions and their reactions to surprise /threatening events (albeit a fairly less than life threatening red screeen from no where in this case)
Secondly the ones that are fortunate enough to be aware are generally not trained to react any differently to what is "their own natural instinct".We all ,based upon our desires ,life situation etc ,have stress points where we will react differently than to when the situation is less stressful.
As everything in life it requires awareness and acceptance of the issue and your own natural reaction to that situation ,"YOUR" stressful moment (this will change depending upon how serious your subconcious feels the situation is then a willingness to change and work at the solution by training yourself to make better decisions under pressure assuming of course you know what the correct decision should be
There is a playlist on You Tube on Bet Angel TV: -
https://www.youtube.com/playlist?list=P ... X99E3LcabF
https://www.youtube.com/playlist?list=P ... X99E3LcabF
boardrep - i definitely think that once you understand your weaknesses, you can go about addressing them. from a psychological perspective, i fare badly when trading manually. i thus took steps to mitigate my bad habits and in the end had to accept that for me, the only way to operate was from the outside. i thus spent 6 months labouring over simple balanced automation rules to do my bidding for me. it's a compromise as you can't ask it to make decisions that you intuitively see on screen in front of you, but in balance, it's allowed me to still be talking here today as a BA user!
so 100% - know yourself, tame your demons
so 100% - know yourself, tame your demons
Hi Jimibt
In order to still be trading after a period you must find way to adapt and make the best of your current skill and mind set,something which you appear to have done.I guess its now looking to the next level of improvement.The long time past and present contributor members have been more than useful in mine to date and will be going forward.
I have followed most of your posts with interest, thank you for sharing some of your thoughts, we can all learn in some way from eachother and hopefully progress.
In order to still be trading after a period you must find way to adapt and make the best of your current skill and mind set,something which you appear to have done.I guess its now looking to the next level of improvement.The long time past and present contributor members have been more than useful in mine to date and will be going forward.
I have followed most of your posts with interest, thank you for sharing some of your thoughts, we can all learn in some way from eachother and hopefully progress.
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stueytrader
- Posts: 863
- Joined: Tue Dec 15, 2015 6:47 pm
I've watched some of your videos on this area, good stuff. Not a massive Youtube user so apols if not responded to those on there.Euler wrote:There is a playlist on You Tube on Bet Angel TV: -
https://www.youtube.com/playlist?list=P ... X99E3LcabF
You mentioned Steve Peters book (Chimp Paradox) I noticed - definitely get that idea in relation to the 'tilt' I had yesterday. His idea of the chimp mind taking over is definitely highly applicable to both gambling and trading as an area of human behaviour. When I have gone on tilt, I know that this animal and emotional side has completely taken over my trading. Difficulty is stopping it at that point, because the control side of thinking has not got as much of a say.
I wonder if Steve Peters has done any work specifically on gambling or trading? Might be worth a look.