Discretionary trading attitude

[Gringotts Bank]

How do you determine if something went 'right' ?

Is profit the only benchmark?

Thnx

The next few days will tell me if I was right. I'm feeling like there might be a cheaper entry around $3.95.

But f you mean how do I tell before I click 'buy' or 'sell', I don't have an answer because I'm not thinking; I'm trying not to think. In this method (3) I get my mood to as good a level as possible, look at the chart and go...or not.

Bought QAN $1.72

 

[CanOz]

The next few days will tell me if I was right. I'm feeling like there might be a cheaper entry around $3.95.

But f you mean how do I tell before I click 'buy' or 'sell', I don't have an answer because I'm not thinking; I'm trying not to think. In this method (3) I get my mood to as good a level as possible, look at the chart and go...or not.

Bought QAN $1.72

Just a thought GB, but if your going to all this trouble why not just put the charts away, pull up the tape and the depth and see how you 'feel'.

CanOz

 

[Gringotts Bank]

Just a thought GB, but if your going to all this trouble why not just put the charts away, pull up the tape and the depth and see how you 'feel'.

CanOz

The advantage of that would be more immediate feedback, which according to Csíkszentmihályi (Mr Flow) is a good thing: He says "The task at hand must have clear and immediate feedback. This helps the person negotiate any changing demands and allows him or her to adjust his or her performance to maintain the flow state".

The disadvantage is that day trading has in the past created too much tension in me. So....

Not sure. Maybe I'd try it again. Nothing is moving today.
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wikipedia:

Another important factor is the memory of events in decision making. The mood someone has works as “a retrieval cue” whereby happy feelings make positive materials come to mind which in turn have great impact on the decisions that are made. The same is true of negative feelings. Bower coined the term state-dependent remembering for this phenomenon. Bowen and others stated that emotions and feelings cannot be extracted from the human mind [I'd add, unless mind is quietened to the point of being transcended]. The emotions felt in a particular situation will be recorded in the emotional memory and can be activated when the person faces a similar situation or has to make a difficult decision in a short period of time. Often the decision maker is unaware of previous experiences in similar situations.

Also, in one study: "Fearful people made pessimistic judgements of future events whereas angry people made optimistic judgements"

These excerpts tends to indicate that being in a reasonable mood (as in when I bought QAN), may not be ideal, since my decision making process will be coloured by my positive mood. On the other hand, I have made 3 successful sports bets today and yesterday with similar mood level.

Positive mood on its own is not a flow state.

 

[Boggo]

...

Bought QAN $1.72

...
pull up the tape and the depth and see how you 'feel'.

CanOz

Slightly off topic but two items relevant to depth, my way of thinking and my

1. Aside from no positive indication I wouldn't have gone long on QAN based on the current depth, I tend to feel that you are swimming against the tide. I like to see a breakout with "support" in the bid side having an influence.
Support tends to gather at round numbers and for QAN 1.70 is an area of support which has already been tested today but for me I would like to see the bid volume increase too.

2. I have held SEH since mid Nov but bailed out today due to what looks like a reversal of depth compared to the last few weeks especially, support is starting to gather around the weekly support level of 15 however, possible re-entry level maybe but I will be watching the bid side volume too.

SEH and QAN depth with comparison of current depth vol accumulation at weekly chart support area 15c on SEH...

 

[Gringotts Bank]

boggo I made a point of only looking at 3 levels of depth, so that buyer:seller ratio wasn't part of my decision.
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Some other ideas that relate to each other:


--Heightened self-awareness (defined as identification with one's own senses amd thoughts) is correlated with low mood*.

--The intensity of both positive and negative emotions might be increased in those with a stronger self-concept** However happiness and flow state are qualitatively different. I found that trading on subconscious emotions was less profitable, so maybe this can be extrapolated to mean: less self-concept -> less emotional -> better trading. So rather than saying "don't trade on emotion", it would be better to advise on ways to reduce self-concept, since suppressed emotion tends to increase in intensity.

--Self-awareness is reduced in moments of flow state (being 'in the zone'). No ref, I think that's fairly well established.

--As mentioned, happiness is not equal to flow state. Flow state could be described as un-caused happiness, whereas normal happiness depends upon a specific outcome. Flow state has a quality of 'smoothness' and 'coolness' and constant change. Happiness feels more static and rough-edged. That's just how I experience it.







*Journal of Youth and Adolescence
December 1998, Volume 27, Issue 6, pp 719-734
A Longitudinal Study of Self-Awareness and Depressed Mood in Adolescence
Self
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**Awareness and Emotional intensity, in Paul J. Silvia, Self (2002)

 

[skyQuake]

I dont think you can call it flow...

High difficulty vs high skill is the standard definition.

In this case its ? difficulty vs ? skill.

 

[Gringotts Bank]

I'm feeling like there might be a cheaper entry around $3.95.

At work and my charts not working. Though I feel like the upside is too limited. Same with BHP - small rises expected next few days. Mood - 8/10. Would like to buy AGO at $1 if possible.

 

[Gringotts Bank]

Terrible, interrupted sleep last night. Feel like crap. 3rd cup of caffeine and just starting to come alive. Interesting, I can't get a feel for AGO. Yesterday I had a reasonable certainty of $1 or maybe $1.04. Today I'm like yes/no/yes/no/yes.... A good day to sit on my hands unless my mood changes. Currently 4-5/10.

Doing what I can to jump start myself. Hopefully will see AGO more clearly then.

Not sure what to say skyquake. .... I saw that chart too. All I could think was that if skill meets challenge = flow, then we'd see it every time an athlete hit the field. But it's rare. Must be more to it.

 

[tech/a]

Terrible, interrupted sleep last night. Feel like crap. 3rd cup of caffeine and just starting to come alive. Interesting, I can't get a feel for AGO. Yesterday I had a reasonable certainty of $1 or maybe $1.04. Today I'm like yes/no/yes/no/yes.... A good day to sit on my hands unless my mood changes. Currently 4-5/10.

Doing what I can to jump start myself. Hopefully will see AGO more clearly then.

Not sure what to say skyquake. .... I saw that chart too. All I could think was that if skill meets challenge = flow, then we'd see it every time an athlete hit the field. But it's rare. Must be more to it.

Ah clearly "Gut Feel Paralysis".

Today I'm like yes/no/yes/no/yes

Always pictured you as male?

QAN still open?

 

[Gringotts Bank]

Holding QAN.

Bought AGO $1.10. This will be interesting because I'm still feeling extremely tired and ratty. I don't like it already.

 

[Gringotts Bank]

Holding QAN.

Bought AGO $1.10. This will be interesting because I'm still feeling extremely tired and ratty. I don't like it already.

AGO sold $1.07. Was wrong on every count.

1. I had a fixed idea it was going to bounce (rigid thinking)
2. went looking for supporting evidence on AGO thread (not spontaneous and not in keeping with the method)
3. decided too quickly

Making decisions when tired/grumpy - forget it.

 

[tech/a]

AGO sold $1.07. Was wrong on every count.

1. I had a fixed idea it was going to bounce (rigid thinking)
2. went looking for supporting evidence on AGO thread (not spontaneous and not in keeping with the method)
3. decided too quickly

Making decisions when tired/grumpy - forget it.

Thought this had nothing to do with decisions?

"Gut Feel"
In The ZONE"

Subconscious----
I think you need to re visit your "PLAN"

Still in the Zone with QAN?

 

[Garpal Gumnut]

Thought this had nothing to do with decisions?

"Gut Feel"
In The ZONE"

Subconscious----
I think you need to re visit your "PLAN"

Still in the Zone with QAN?

Any thoughts on Monkey business?



gg

 

[Gringotts Bank]

Bought AGO $1.13. Mood 8/10.

 

[Country Lad]

Bought AGO $1.13. Mood 8/10.

Right now market mood to AGO is about 3/10 at $1.125. Could change in an instant of course.

Cheers
Country Lad

 

[waza1960]

Bought AGO $1.13. Mood 8/10.

Aren't you just trying to regain lost profits from the previous trades?
Going against your stated aims

 

[tech/a]

Hmmm

I have an opinion but don't wish to
influence the ZEN.

Perhaps I'll send it to anyone who wants it
over the W/E and see how it pans out going forward.
Sorry GB not you as you may be influenced!

Send me a PM if you want a chart with my thoughts.

 

[Gringotts Bank]

Are you a short man tech? About 5 foot 2 inches is my guess.

 

[Ves]

Are you a short man tech? About 5 foot 2 inches is my guess.

Mood angry 3/10? Sorry couldn't resist!

 

[peter2]

This project is pathetic. Honestly it makes astrological traders seem like gurus.

I hope beginners read this thread and realise what will happen without a trading plan or any trading structure. The results will be random with a losing bias (not seen in this thread yet as there hasn't been enough trades). The most damaging aspect is the effect on a traders psychology. If the OP continues in this manner the initial deterioration of a reasonable mind ("tired/grumpy" and probably irritable) developing into a clinical depression.

Don't tell us that you're trying to tap into your subconscious "flow" state. Alcoholics and drug addicts use that excuse for their habits. How do you know that your subconscious flow state has a trading edge? You're guessing.

If you wake and feel like buying or selling something. It's gambling, I don't have problem with that. Keep your losses small and you might get lucky in a bull market.