Admission time, and a question or two :(

[stueytrader]

I remember reading a little while back, in an early blog post of Caarn Berry that he used some very physical strategies - positive rewards for closing a losing trade well, and even punishment with an elastic band on his leg (ouch) when he went inplay (or something similar)!

They obviously worked for him I guess, looking at where he stands on trading these days.

[to75ne]

who will be rewarding you and who will be punishing you?

if your will power is strong then administering self reward and punishment may work, but then surely you would already have to required self discipline for trading.

if your will power is weak, you punishments will not be great enough. snapping a elastic on your leg are you serious.

[stueytrader]

who will be rewarding you and who will be punishing you?

if your will power is strong then administering self reward and punishment may work, but then surely you would already have to required self discipline for trading.

if your will power is weak, you punishments will not be great enough. snapping a elastic on your leg are you serious.

It wasn't my suggestion - was from one of Caarn Berry's posts.

[stueytrader]

Interestingly, googling around it seems it is actually a strategy in general, surprisingly!

http://www.selfgrowth.com/articles/The_ ... nique.html

[oscar123]

I read somewhere that a lot of the top pro traders punch themselves in the face when they let a bad trade go inplay.

[stueytrader]

http://zazenlife.com/2011/12/09/using-a ... -patterns/

This one was also linked to a gambling domain.

[to75ne]

I read somewhere that a lot of the top pro traders punch themselves in the face when they let a bad trade go inplay.

think that would be more effective then snapping a rubber band

why not get somebody to punch you in the kidneys servere enough to make you piss blood for a week, do you think that would work for long? or kick you in bollocks till your voice as gone 3 octaves higher and your never walk in a straight line again?

simple automation rules or an excel command both easily applied by betangel seem to be unable to stop people going people inplay perhaps heavy violence could help.

[stueytrader]

I'm sure I'd also be interested in less violent strategies too Just thought I'd post the first one that I remembered an actual (successful) trader posting about.

Any others? (aside from automation)

ps. this is the 'psychology' section, so specifically related to psychology through behaviours - mind effects body and vice-versa is pretty clear.

[stueytrader]

I think that is the point of the 'rubber band' idea too - it's the having the 'thought' about going inplay that you punish, and therefore reduce it's thought before it even happens....

[to75ne]

just try and work out what makes you tick/react. its hard if not impossible to change you, yourself; the way your emotions kick in and when/why, without professional help and shed loads of money your probably not going to be able change them. just try and reconise what is likely to make you take a wrong decision or a stupid one (your emotions are you not someone else living inside you).

if you can do that, then you have an advantage cause you know. if you know you maybe be able to write a auto rule to deal with it or warn you it is approaching,or simply do nothing, or cut out and so on, but you must learn about YOU (taking ticks is easy in comparison).

a successful trade which may be a loss even a nose bleed, that is the reward for a outcome that you did not let emotions control (or only slightly,,,your never get rid of/eliminate them). if you have some/better control of your emotions you will not make youself happy/sad/put you in bad mood/ make you feel over the moon/ go on tilt and so on. that is your reward, excepting the outcome of the trade red or green, big or small.

why extra punishment for getting it wrong, letting your emotions lead you to bad stupid trade, so more deliberate punishment (2 rubber bands snapping your legs), more missery, leads to more emotional trading, more misery, more punishment, depression, anger BANG.

[stueytrader]

just try and work out what makes you tick/react. its hard if not impossible to change you, yourself; the way your emotions kick in and when/why, without professional help and shed loads of money your probably not going to be able change them. just try and reconise what is likely to make you take a wrong decision or a stupid one (your emotions are you not someone else living inside you).

if you can do that, then you have an advantage cause you know. if you know you maybe be able to write a auto rule to deal with it or warn you it is approaching,or simply do nothing, or cut out and so on, but you must learn about YOU (taking ticks is easy in comparison).

I do agree with that general point, that you have to understand yourself, yes. That is the most important aspect in the long run of emotional control.

However, I don't agree that we can't alter/influence ourselves, thoughts and behaviours. Everything (and anything!) that could improve us in trading should be used IMO. It's a bit like that saying 'every little helps' I'd say, so anything we can add to our behaviours day to day (if it helps) is worth considering - of course if it doesn't work then that's also something to consider!

[stueytrader]

Time of day is also something I'm considering making a key aspect.

I am considering never trading after 6.00pm - all of my trading has been much more profitable pre 6.00pm, and my disasters have all been after 6.00pm!

[stueytrader]

Just wanted to report back that yesterday I put in place one of my first deliberate strategies (as above) - for the 6.00pm rule.

Huge sample of course (1 day)

But it worked a treat so far - nice steady profit pre 6.00pm stopped trading and didn't allow any trading after - a nice feeling not to blow my day's profits in any silly evening trading!

[spreadbetting]

Why 6pm, why not 5:15 in time for Pointless?

[stueytrader]

Why 6pm, why not 5:15 in time for Pointless?

Good point.

TBH 6.00pm is slightly arbitrary I agree, just seemed a fair point to draw the line between afternoon/evening and it seems to (approx) show that in my previous results.
I may need to adjust time slightly during the year too.