mind traps affecting traders

There is a lot of educational information on google search about mind traps and also pdfs.The same mind traps apply to trading.

There is an underlying layer of consciousness—call it the automatic mind—that processes information automatically without conscious awareness. We engage our automatic mind in virtually everything we do. While putting on a trade , for example, our conscious attention may be focused on what so-and-so said today while our automatic mind is fast at work continually calibrating the movements of our hands on the mouse . We shift seamlessly to conscious attention whenever the need arises ("Better get to the right. My exit is coming up."), but otherwise we execute thousands of discrete movements of hand with little if any direct awareness of them. Think about it: Are you aware of how many times you entered and exited trades without any reasons?

Further reading
seach google with words "psychological mind traps pdf".
https://www.google.co.uk/webhp?sour...=1&espv=2&ie=UTF-8#q=psychological+mind+traps

http://www.trade2win.com/boards/edu...92-your-brain-wasnt-built-handle-reality.html

The Article is informing where traders can mess up with information processing ,traders must trade by processing information. Unfortunately, humans are not very effective information processors. We have a lot of influences that enter into information processing related to trading decisions.Traders who sit infront of screens are more at risk to misprocessing information.

Traders trade their beliefs ,cognitive biases and related distortions ,emotions ,stress responses (rective patterns ,freezing on trigger ,mistakes etc),subjective anylysis ,personality( Perfectionism ,Worry ,Overconfidence,
Negative Thinking.Self-blame etc),state of mind ,current body condition (tired ,fatigue,sleepless) and other influences .The trading phsychology is a complex subject ,the author has given a summary.


http://www.trade2win.com/boards/educational-resources/223174-subconscious-errors.html#post2895796

https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=the+need+to+be+right

The need to be right about placing trades plays an important part in their decision to day trade , secondly they get immediate action in the market .How does a new trader know , if the price will be higher or lower tommorow ? There are two fears that make them decide when to trade and what to trade , these are

Fear of Not Being Right :They could be wrong on a trade they have no certainty about

-Fear of Loss :They could suffer a loss on a trade they have no certainty about

In trading , when putting on a trade , we exit a trade when it moves a few ticks against us , we are constrantly re-entering into trades when it catches our direction and getting out of trades , when it it again moves a few ticks against us.This is a need to be right , in our brain calling the shots.

https://www.google.co.uk/webhp?sour...spv=2&ie=UTF-8#q=the+need+to+be+right&tbm=vid

Look this is so much BS. Either you have an edge or you don't. No mental toughness or "corrected processing of info" (whatever that is) will help stave off the losses.

Does psyche play a role in stressful risk taking, yes I agree. Must get your mind right, but without that sucessful strategy built on a solid edge won't matter your mind a steel trap.

It's the edge that mostly matters.

a mind trap is something like the trap at bottom of your tub. filters all the crap & bs but at some point ..

you have to deal with it.

piphoe said:

a mind trap is something like the trap at bottom of your tub. filters all the crap & bs but at some point ..

you have to deal with it.

Click to expand...

Watch this video on youtube , it will improve your understanding of your trading brain.You can improve your brain for trading.Traders try to be perfectionists and miss trades ,they close trades early ,if trade is not perfect.

Search"Procrastination & the "Perfectionist"

https://www.google.co.uk/webhp?sour...UTF-8#q=perfectionism+procrastination&tbm=vid

foroom lluzers said:

Watch this video on youtube , it will improve your understanding of your trading brain.You can improve your brain for trading.Traders try to be perfectionists and miss trades ,they close trades early ,if trade is not perfect.

Search"Procrastination & the "Perfectionist"

https://www.google.co.uk/webhp?sour...UTF-8#q=perfectionism+procrastination&tbm=vid

Click to expand...

i will ty. before ido...

Traders DO try to be "right", traders want to be right, who doesn't want to be right.

there are very few perfect trades, and often as traders we must close "early" only to see it run hard in our direction. too often we hold on to that perfect trade too long. give too much back, or get burned altogether lots of traders take too many, and many don't take enough.

and, what the hell are we talking about here lol :cheesy:

piphoe said:

i will ty. before ido...

Traders DO try to be "right", traders want to be right, who doesn't want to be right.

there are very few perfect trades, and often as traders we must close "early" only to see it run hard in our direction. too often we hold on to that perfect trade too long. lots of traders take too many, and many don't take enough.

and, what the hell are we talking about here lol :cheesy:

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wow, that's profound. rather than finger i'll make a fist

next time i

want

to

be

right

knock myself out

here's some fuzzy logic for you. if you are not right, you are wrong. and if you are wrong you are losing money.

you show me ONE instance where being wrong is a consistent strategy for being successful?

piphoe said:

here's some fuzzy logic for you. if you are not right, you are wrong. and if you are wrong you are losing money.

you show me ONE instance where being wrong is a consistent strategy for being successful?

Click to expand...

We all want to be right , but when trading in a choppy/mixed market , you go long ...price goes lower , you go short price goes higher , so the subconcious battle starts with auto pilot in the brain fighting the reactive patterns.

so you are long but market triggres your need to be on the right side of the trade , so you go short ......................It is a mind trap

foroom lluzers said:

We all want to be right , but when trading in a choppy/mixed market , you go long ...price goes lower , you go short price goes higher , so the subconcious battle starts with auto pilot in the brain fighting the reactive patterns.

so you are long but market triggres your need to be on the right side of the trade , so you go short ......................It is a mind trap

Click to expand...

where is the "mind trap" your trades lost. you were WRONG.

If you were RIGHT, you'd have won.

you still haven't told me why i shouldn't be right, or strive for being right.

In your example i was wrong, and i paid dearly for it.

1. ALL-OR-NOTHING THINKING You see things in black-or-white categories. If a situation is
anything less than perfect, you see it as a total failure.
2. OVERGENERALIZATION You see a single event as a never-ending pattern of defeat by
using the words ALWAYS or NEVER when you think about it.
3. MENTAL FILTER You pick out a single negative detail and dwell on it exclusively. One word of
criticism erases all the praise you've received.
4. DISCOUNTING THE POSITIVE You reject positive experiences by insisting they "don't count."
If you do a good job, you tell yourself that anyone could have done as well.
5. JUMPING TO CONCLUSIONS You interpret things negatively when there are no facts to
support your conclusion. Two common variations are MIND-READING (you arbitrarily
conclude that someone is reacting negatively to you) and FORTUNE-TELLLING (you assume
and predict that things will turn out badly.)
6. MAGNIFICATION You exaggerate the importance of your problems and shortcomings, or
you minimize your desirable qualities. This is also called the "binocular trick."
7. EMOTIONAL REASONING You assume that your negative emotions reflect the way things
really are: "I feel guilty. I must be a rotten person."
8. "SHOULD" STATEMENTS You tell yourself that things should be the way you hoped or
expected them to be. Many people try to motivate themselves with SHOULDS and
SHOULDN'TS, as if they had to be punished before the could be expected to do anything.
9. LABELING This is an extreme form of all-or-nothing thinking. Instead of saying "I made a
mistake," you attach a negative label to yourself:"I'm a loser."
10. PERSONALIZATION AND BLAME You hold yourself personally responsible for events that
aren't entirely under your control.

piphoe said:

where is the "mind trap" your trades lost. you were WRONG.

If you were RIGHT, you'd have won.

Click to expand...

Only real traders can experience it!

keep it coming i love it!

there must be more to your thesis..you are holding back on good stuff

For those who want to learn about mind traps , the same type of human mind traps apply to trading .I read these and apply them to trading situations.

Deadly Mind Traps
Simple cognitive errors can have disastrous consequences—unless you know how to watch out for them.

The hiker who leaves a well-marked trail and wanders off, cross-country. The pilot who flies his perfectly maintained airplane into the ground. The kayaker who dives into a hydraulic whitewater "grinder" even though he's just seen it suck three buddies to their doom. "Gee," you think when you hear such tales, "I'd never do something like that."

https://www.psychologytoday.com/articles/201201/deadly-mind-traps

http://www.hamiltonhealthsciences.c...ediatricEatingDisordersCopingStatement-lw.pdf

http://botfl.nd.edu/Readings/The-Hidden-Traps.pdf

• You have incorrect or exaggerated assumptions about the way things should be.
You criticize yourself when you don’t live up to your expectations.

Daytrading Mind Traps

MIND TRAPS: The fatal mistake of hanging on too long or cutting profits

Being impulsive

Winning excitement

Diluting losses by buying more shares

Not setting take profit point and stop loss for the bucket shops

Rumors and uninformed analyses

Failure to analyze losing trades

Taking trades that don’t fit your system’s criteria.

Over-trading

all these you outline require a serious strategy implicit or explicit to overcome, not a mindset.:|

piphoe said:

all these you outline require a serious strategy implicit or explicit to overcome, not a mindset.:|

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All the intelligent posters/psychologists on forums ,know it all

The real pychology doctors are on youtube and the net .

If I ever want any quality , I search on google for top trading psychologist.Here even the forum owner is a trading psychologist.

piphoe said:

all these you outline require a serious strategy implicit or explicit to overcome, not a mindset.:|

Click to expand...

It is not mindset then it must be someting else??????????????

piphoe said:

all these you outline require a serious strategy implicit or explicit to overcome, not a mindset.:|

Click to expand...

http://www.trade2win.com/boards/first-steps/218150-set-forget-trading-course-2.html#post2894080

There is the holy grail