No Plan, No Trade

[itspossible]

Quit saying 80% of trading success is emotional fortitude, it is not.

You can be the strongest minded MF on Earth, but won't help one bit trading a losing strategy which are MOST STRATEGIES.

Many strong minded MF's are DEAD, because of their obstinacy.

Winning strategies are very few and far between. A losing strategy/method will still lose despite your strong mind in the face of adversity.

Winning methods don't need a strong mind. The weakest minds will win, despite the mind weakness.

Winning methods are objective based strategy, not easy to find, and doesn't give two sh^ts about what kind of mind is exploiting it. :/

 

[foroom lluzers]

:smart::smart::smart:

 

[itspossible]

:smart::smart::smart:

 

[foroom lluzers]

Quit saying 80% of trading success is emotional fortitude, it is not.

Many strong minded MF's are DEAD, because of their obstinacy.

Winning strategies are very few and far between. A losing strategy/method will still lose despite your strong mind in the face of adversity.

. :/

psychology

 

[piphoe]

The markets care about your mindset, ya whatever. Carryon wayworrd fools

and after every field goal make sure you do one of those pointing to the heavens gestures ..thx big guy

 

[darktone]

The markets care about your mindset, ya whatever. Carryon wayworrd fools

and after every field goal make sure you do one of those pointing to the heavens gestures ..thx big guy

You know when you get upset and stuff about how the market is behaving etc. Do you think thats the market doing it to you, or you doing it to you?

 

[piphoe]

You know when you get upset and stuff about how the market is behaving etc. Do you think thats the market doing it to you, or you doing it to you?

Getting upset doesn't help, nor the drother getting mind forged indignant.

the market does not care. it is what it is.

 

[darktone]

Getting upset doesn't help, nor the drother getting mind forged indignant.

the market does not care. it is what it is.

You right, it doesnt help. If you had the emotionals tucked up youd realise theres nothing to get upset about.

 

[piphoe]

You right, it doesnt help. If you had the emotionals tucked up youd realise theres nothing to get upset about.

finally you agree with me. nice to have you on board darkie.

 

[darktone]

finally you agree with me. nice to have you on board darkie.

Almost, cept that im speaking on behalf of the market and i see you getting upset sometimes. Just tryin to help you out bro

 

[piphoe]

Almost, cept that im speaking on behalf of the market and i see you getting upset sometimes. Just tryin to help you out bro

of course i get upset, esp when pusing a little too hard and not going my way.

i'm only human.

 

[piphoe]

i've been "glued" to a trading screen (actually 7 24inchers, all lined up thin bezel 18/7 for last 12 yrs.

i think i know smthg by sheer weight of OBSERVATION, if nothing else :/

is it enough, i think it is

 

[itspossible]

i've been "glued" to a trading screen (actually 7 24inchers, all lined up thin bezel 18/7 for last 12 yrs.

i think i know smthg by sheer weight of OBSERVATION, if nothing else :/

is it enough, i think it is

 

[dbphoenix]

There's a big difference between having 12 years' experience and having one year of experience 12 times.

 

[piphoe]

There's a big difference between having 12 years' experience and having one year of experience 12 times.

wow some real bit of wisdom there. going spend next 18 hrs is some real soul searching :clap::clap::clap:

 

[foroom lluzers]

The markets care about your mindset, ya whatever. Carryon wayworrd fools

and after every field goal make sure you do one of those pointing to the heavens gestures ..thx big guy

trade the plan plan the trade in a myglada hijack

Search on google "amygdala hijack example videos "

https://www.google.co.uk/webhp?sour...2&ie=UTF-8#q=amygdala+hijack+examples++videos

 

[foroom lluzers]

If you are sitting in front of a computer screen watching price go down and account value erode, perceived threats are still there. Once your fight or flight response hits, you won’t always behave logically and rationally.plan the trade trade the plan?Your brain command centre stops.

The most important aspect of succesful trading is trading phsychology.Successful trading is 80% psychology and 20% methodology. Phsychology knowledge is a must for every beginner.If they find an edge or a method or any system , it will be totally useless , if they can not execute the edge ,without the right mindset.Human autonomic nervous system is not wired to handle stressful mental activities LIKE TRADING.When your brain does not function (phsychology) in real time , everything else is wort zero , because the brain can not give accurate commands to trade , as required by systems etc.

An Amygdala Hijack is an immediate and overwhelming emotional response out of proportion to the stimulus because it has triggered a more significant emotional threat. The amygdala is the part of our brain that handles emotions. During an Amygdala Hijack, the amygdala "hijacks" or shuts down the neo-cortex.

The prefrontal cortext holds the circuitry we need for abstract thought. It allows us to concentrate on the task at hand while storing useful information in temporary storage for later on. It also prevents you from performing inappropriate actions and is basically the command centre for the brain.This is how stress can shut down the command centre in the brain


http://www.trade2win.com/boards/psy.../45686-trading-psychology-13.html#post2892590

 

[foroom lluzers]

@smokealarm, the main point was that many people think they have a plan, when they in fact have a disaster waiting to happen.

I tell my students to ask themselves 'how can i' questions and go do some markups (show the ideas on charts), paying special attention to the places where their ideas fail. There are too many 'systems' that data mine to show 'good' trades and ignore bad ideas: often on the same 'example' charts posted.

@NVP,
thanks.

G.

All this does not work in reality , good luck with your vendor business and marketing sales.

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/edu...92-your-brain-wasnt-built-handle-reality.html



Traders are like monkeys , they suffer from the MONKEY BIAS, THEY DO MONKEY BUSINESS ON LIVE ACCOUNTS


Like this?

Humans are very clever and we get clever , when it is not in our interests .When given a highly profitable system , we second guess systems , because we are smart and smarter than the creator of the system.We are like monkeys and do monkey business on live accounts .It is called self sabotage.


http://www.trade2win.com/boards/edu...-do-succesful-traders-hang-around-forums.html

We are curious and try new things , inventions and do the same in trading.
We get too clever for our own good in trading ,like these monkeys.

 

[foroom lluzers]

 

[tomorton]

Most traders who lose are damaged by greed and fear, induced by committing real money to risk, to the point where they make irrational decisions.

Some poor decisions can be way before opening a trade and some can be insidious, e.g. -
* losing money after a day's trading is the worst thing that can happen
* forex has a risky reputation so I'll trade stocks
* my aim is to make £25 every day
* I am a retired professional with time on my hands, I'm going into daytrading
* the Dow has got really high so I'm going to short the DAX
* I'm prepared to risk 30 pips so I'm going to hold this damn trade until I get +60
* I've got +60 so I'm going to close this one
* last 3 trades today were losers so I'm shutting down and going to the gymn

Such ways are how traders sabotage their own chances of success.

Most dumb daytrading systems lose money. Most long-term trading systems make money. Most new traders start in daytrading.

All points towards psychology being way more important than the individual system.