Psychology... the poll

Does psychology matter in trading?


  • Total voters
    131
But anyway, let's hear from those who believe traders are born. If they are, than it shouldn't really matter whether they have a strategy or not, because if they're born to be a winner they will make it right? So why not trade on instinct then? I hope that by trying to determine the key factors to trading success this thread can head towards a more sensible discussion and might even lead to a conclusion instead of continuining in circles. Here's to hoping.

Well then, by your argument, Mr Andrew Wiles (who proved Fermat), should NOT have bothered spending his time at school, and at uni, and conversing with other experts in the field of elliptic curves and modular forms, not to mention Galois representations and group theory, nor bother with Hecke rings or deformations algebras, because he should have been born with all that done way before his time and the proof should have come out immediately . . .

All because you are born with potential, whether you get to realize it or not is another matter entirely - or does that point escape you too?
 
Look out the window Paul. As Socrates would say, you see people digging roads, driving buses, cleaning the streets, sitting at desks, commuting to meetings that they are late for, etc. . . . All tied to a 9 - 5 obligation. Some of them can make it to be consistently profitable - but the vast majority, no. That is why they are still tied to their 9 - 5 obligations, and/or think about buying systems, or dabble in property seminars, or get rich quick schemes. Even if the best traders (which does not include myself since I don't make that much, only enough not to be on a 9 - 5, but understand what it involves), were to try to help them, it would still be a fact that only a tiny minority will make it.

We could talk all day about "lack of motivation", giving up too early, lack of drive or perseverance etc . . . or about genes and the environment etc. . . enough to bore anyone to tears.

People in the "anyone can do it" brigade usually have something to sell. People who can't trade sometimes write books to the great detriment of all, where they waffle to their readership.

And then, there are those like some on this thread. They are insecure about whether they can make it or not. They are either losing (most of them), breaking even or mildly profitable. They want to seek reassurance from the successful traders that they are going to make it, and delude themselves with bits of information taken from various sources to make themselves feel better. They will argue their points across until they're blue in the face, because they seem to have some emotional need for everyone to tell them that they are right


Spot on!
 
The Insecure ones

Look out the window Paul. As Socrates would say, you see people digging roads, driving buses, cleaning the streets, sitting at desks, commuting to meetings that they are late for, etc. . . . All tied to a 9 - 5 obligation. Some of them can make it to be consistently profitable - but the vast majority, no. That is why they are still tied to their 9 - 5 obligations, and/or think about buying systems, or dabble in property seminars, or get rich quick schemes. Even if the best traders (which does not include myself since I don't make that much, only enough not to be on a 9 - 5, but understand what it involves), were to try to help them, it would still be a fact that only a tiny minority will make it.

We could talk all day about "lack of motivation", giving up too early, lack of drive or perseverance etc . . . or about genes and the environment etc. . . enough to bore anyone to tears.

People in the "anyone can do it" brigade usually have something to sell. People who can't trade sometimes write books to the great detriment of all, where they waffle to their readership.

And then, there are those like some on this thread. They are insecure about whether they can make it or not. They are either losing (most of them), breaking even or mildly profitable. They want to seek reassurance from the successful traders that they are going to make it, and delude themselves with bits of information taken from various sources to make themselves feel better. They will argue their points across until they're blue in the face, because they seem to have some emotional need for everyone to tell them that they are right

thats a good post temptrader

"And then, there are those like some on this thread. They are insecure about whether they can make it or not. They are either losing (most of them), breaking even or mildly profitable. They want to seek reassurance from the successful traders that they are going to make it, and delude themselves with bits of information taken from various sources to make themselves feel better. They will argue their points across until they're blue in the face, because they seem to have some emotional need for everyone to tell them that they are right"

I agree with the bit above and think its a very fair observation and very true ............

but.........

Is this you mention not caused by many of us who are attempting to trade and come from a none financial trading background.

Have nothing to check against other than whats going on in their own heads half the time, or maybe more than 1/2 the time along with a bit of basic math :)

Any other job you would be with more experienced person who could show you the ropes and watch over you

And more importantly TRUST them because you could see with your own eyes they were the real deal. Doing the job day in day out.

Not in this game, most telling you are really trying to sell you something and if they are not and what they say or are selling is of any value

Its just a needle in a heystack

so keep fishing every little helps imho
 
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People in the "anyone can do it" brigade usually have something to sell. People who can't trade sometimes write books to the great detriment of all, where they waffle to their readership.

And then, there are those like some on this thread. They are insecure about whether they can make it or not. They are either losing (most of them), breaking even or mildly profitable. They want to seek reassurance from the successful traders that they are going to make it, and delude themselves with bits of information taken from various sources to make themselves feel better. They will argue their points across until they're blue in the face, because they seem to have some emotional need for everyone to tell them that they are right

It looks like I'm being classified in the "anyone can do it" brigade, although I never implied it in the context where it's being applied in. It's also being insinuated that those who are part of this 'group' are either losing traders or looking for reassurance from other people 'that they can make it'. I can assure you, this is not the case. And trust me, I'm not trying to sell anything let alone write a book.

Instead of waffling around and accusing other traders, I suggest you and new_trader show us some real trades instead. In fact, for all we know, you guys don't even trade.

So here's the deal. You show us some live trades and that way we can all see what it means to be a truly successful trader. After all, that's what some of us so-called self-delusional traders have been doing for quite some time now. See the public DOW thread of the last couple of days and the private 'real live trading' board.

For example, today I posted 5 minutes before the market opened that a marginal break of 12530 (DOW June futures) was likely to occur on a shake-out bar. 5 minutes after the open, that's exactly what happened so I went long.

So... what's it going to be?
(I'll already know what the answer is to that one).
 
Now, HOW GOOD they become is due to all factors people have been micro analyzing here, but on the macro side, trading is simply NOT that hard and can be taught.

mp

Hear, all ye good people, hear what this brilliant and eloquent [trader] has to say.
 
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It looks like I'm being classified in the "anyone can do it" brigade, although I never implied it in the context where it's being applied in. It's also being insinuated that those who are part of this 'group' are either losing traders or looking for reassurance from other people 'that they can make it'. I can assure you, this is not the case. And trust me, I'm not trying to sell anything let alone write a book.

Instead of waffling around and accusing other traders, I suggest you and new_trader show us some real trades instead. In fact, for all we know, you guys don't even trade.

So here's the deal. You show us some live trades and that way we can all see what it means to be a truly successful trader. After all, that's what some of us so-called self-delusional traders have been doing for quite some time now. See the public DOW thread of the last couple of days and the private 'real live trading' board.

For example, today I posted 5 minutes before the market opened that a marginal break of 12530 (DOW June futures) was likely to occur on a shake-out bar. 5 minutes after the open, that's exactly what happened so I went long.

So... what's it going to be?
(I'll already know what the answer is to that one).

Maybe a bit late but I am currently short (on paper) 2 contracts of the ESM8

15:52:27 [email protected] Mental [email protected]
 
P..ssing Contest

arrrrrrrrrrrrrrrrr p..ssing contest this should be fun
 

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Maybe a bit late but I am currently short (on paper) 2 contracts of the ESM8

15:52:27 [email protected] Mental [email protected]

Exit 1
16:06:47 [email protected] profit = 1.50

stop on 2nd contract moved to 1370.75 (mental stop)

It may be a good idea to do this thing elsewhere. I created a new thread:
http://www.trade2win.com/boards/psychology/30739-pyschology-poll-part-2-a-post416577.html#post416577
 
Unless I'm mistaken, you just made his point for him.

jj

What point is that? Unlike you I can't perform like a clown whenever demanded. I made my trades this morning with real money, but I'm sure I wouldn't be given credit AFTER the fact. Give up Mathemagician....please....
 
exit
16:14:52 [email protected] profit 2.25

Total

15:52:27 [email protected]
16:06:47 [email protected] P/L 1.50
16:14:52 [email protected] P/L 2.25

Total= 3.75 points

3.75 x $50 = $187.50 on paper but will donate 10% in real money to charity.

Now, PKFFW, how about some live calls from you? paper trades or real, I don't care which.

On my chart it says 1370.75 at 0512 PM, which is after you moved your stop to 1370.75 at 0509PM:

stop on 2nd contract moved to 1370.75 (mental stop)

I could give you the benefit of the doubt here, but it's not exactly 'good practice'.

So what I observed is that you took profits at 1.50 points on the first contract and got stopped out on the second one? Whilst your original stop was at 1.50 points for two contractsl? This ought to be a very interesting equity curve.
 
On my chart it says 1370.75 at 0514 PM, which is after you moved your stop to 1370.75 at 0509PM:



I could give you the benefit of the doubt here, but it's not exactly 'good practice'.

So what I observed is that you took profits at 1.50 points on the first contract and got stopped out on the second one? Whilst your original stop was at 1.50 points for two contractsl? This ought to be a very interesting equity curve.

What on Earth are you talking about?
 
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