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kin oath !
With all the due respect little i can muster. You have to be kidding???
A **** system or **** MM creates ill effects in your Psychology - in your Mind & Body. You end up throwing your plan out the window on what punters often call 'undisciplined' trades. What is really happening is the start of the delusion that you're doing the right thing, that you are a trader, is being stripped away. Denial is giving way to reality. You stray from the ill fated plan you have set for yourself because you don't know that that plan is one that will ultimate be profitable. Every bad day chips away at your ego until you blow up in 1 of the 1000s of ways to blow up in this gig.
Those that are weak, silly, lazy or unable to get off their ar$e to actually do some real work on a real system fall on the psychology band wagon. Others set about doing some work, testing, practicing, simming, reviewing, developing etc.
Why is trading different to any other business, sport, career or life goal? People who spend the time correctly practicing the activity achive gains. Those that talk about the mystical talents of the elite defeating the odds end up making excuses about their own failures till the day they die.
My scan shows 20 high volume breakout stocks, .........
I choose ........................................ as if I was G. Soros.
Slightly-backhanded defence of Van Tharp: I got the impression that he's just confused about what "psychology" means. He seems to think that anything in your head is psychology. So there's a system, and there's MM, but once it's in your head it's all "psychology".
Well thats why you cannot make a cent trading...... a retail punters scan as if you where a market mover
My pea brain isn't wrapping around your Gist here T/H.
Care to expand?
To teach trading, you'd have to show you can trade. To teach psychology you only need to be able to talk out of your ****.
If you're channeling a market god who plays with billions, breaks governments and no doubt need to play contrary entry/exits then go about trading breakouts in penny dreafuls its hardly a Psychology meshing of minds.
Well, fine, Tech, but none of that addresses my question of what the glib phrase "Trading Psychology" actually means.Julia
Discretionary trading that is profitable.
Setting a sequence of trades up which
you set out to trade profitably by winning
more than you lose on a consistent basis
is very difficult.
I do that with Discretionary Index Trading (futures).
To be honest my systems trading is far more long
term profitable than my discretionary.
Expectation is a far cry from setting up a trade
sequence to have positive expectancy.
Indeed. And to extend the principle, why bookstores have shelf upon shelf of 'self help' books containing every shonky bit of nonsense you could ever imagine, aimed at the gazillions of people who are dissatisfied with their lives and who naively believe there is some magic secret out there which, once they get it, will make them happy ever after.He wouldn't be the first to do so. Thats why Psycho books for retail traders sell so well.
Oh, I see. I suppose the very slight fact that you are not in fact G. Soros, and your approach would surely necessarily be substantially different, is irrelevant? Just so long as you believe you're a winner, huh?eg. My scan shows 20 high volume breakout stocks, all with very similar chart patterns. I can't afford to spread the risk over all 20 so I have to choose 1-5 of them, hopefully the ones that run hardest. I choose the number of trades, the position size and how and when to sell as if I was G. Soros. Method acting.
The way i see it psych is just a multiplier. If your system/method makes money, trading psychology can help u avoid some emotional errors.
If your system is crap, psych won't help one bit. Too much time has been spent trying to master ur emotions and whatnot when backtesting was the correct thing to do.
Well, fine, Tech, but none of that addresses my question of what the glib phrase "Trading Psychology" actually means.
As for STEVE
Disappointed he hasn't accepted the challenge of a discerning audience who are not content with being fed BURLY.
19 years later, he argues that psychology now counts for 100% of trading success and I for one agree with him.
Australia
The title 'psychologist' is restricted by law. Registration as a psychologist is governed by State and Territory Psychology Registration Board.[11] From July 1, 2010 psychologists must be registered with the Australian Psychology Board.[12]
The minimum requirements for registration as a psychologist is an Australian Psychology Accreditation Council (APAC) accredited four year bachelors degree majoring in psychology and either a two year masters program or two years of work supervised by a registered psychologist.[1]
Restrictions apply to all who want to use the title 'psychologist' in any form in all states and territories of Australia. However, the terms 'psychotherapist', 'social worker', and 'counselor' is currently self-regulated with several organizations campaigning for government regulation.[13]
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