Category: Psychology

 

Change takes time

Most trainers talk about discipline. In fact they over-emphasise discipline so much that it becomes a ‘pain’. But there is another aspect to discipline which involves pain. Remember ‘No pain, no gain’? As a noob you really don’t appreciate that much what this ‘discipline’ is about. Well, the markets inflict their own callous discipline on noobs – that’s a different sort of pain. From that pain comes a newfound discipline. ‘Feelings’ about the market causeRead More

Mindsets

Today I was chatting online with another trader and attempting to show an alternative way of taking a chunk out of the markets. You might think that there would be great interest in that. However, this trader said to me words to the effect that a new strategy meant a new mindset – and in a nutshell s/he doesn’t care about what I was showing. In other words s/he only cared about their own ‘strategy’. Read More

What people want – and why they won’t get it.

The more I study the true experts at financial trading the more I discover some common themes: 1.They struggled initially. 2.They failed repeatedly. 3.They never gave up. 4. They learned from painful mistakes. 5. They put in crazy hours over many years training their brains. 6. In summary they shared some ‘core psychological characteristics’. Warning  – this is a long one, so if you need to bathe a dog please do that first. Look, ifRead More

Skill acquisition and training

It has been on my mind for some time, how new traders develop in their acquisition of skill. There are several different models out there on the net, not specific to traders but quite applicable. In the diagram below I present the Dreyfus Model of Skill Acquisition (adapted from Wikipedia) I think this is important for the following reasons: New traders can benefit by self-reflection by placing themselves at various stages of development. They seeRead More

The so-called Fearless State

Mark Douglas is commonly credited for coining the term ‘the fearless state’ in his book Trading in the Zone. Lots of other people have probably talked about this state of mind. But what is it exactly? I explore but I disagree with some of what he has said – or the meanings put on what he has said. For the avoidance of doubt, I’ve written this not to win a point or score a point.Read More

Totally sickened

I’m totally sickened by the fact that many so-called expert traders (self-proclaimed) have monetised their various websites by charging a fee for memberships or selling courses etc. I do not mean attracting income from advertising of independent sources. Some sites advertise and take a cut from advertisers if members sign up to various services/opportunities. I’ve seen this phenomenon so many times. What is it with the so-called pros? If you’re making tons of dosh withRead More

Like playing rock guitar – Cesar Huesca

This could well be about playing piano or any other musical instrument. Trading is about developing a passion, persistence, pressing forward, practicing, making mistakes, living your dream. The same goes for those who excel and music. I only came across Cesar Huesca  by accident on YouTube. Other than that, I don’t know the guy from Adam! His interview struck a ‘chord’ in relation to trading. It’s the same steps to becoming an expert successful trader!! Read More

Automaticity

It’s an interesting word but not many know it’s full meaning. It isn’t about becoming an automaton. The Wikepedia definition of automaticity is, “The ability to do things without occupying the mind with the low-level details required, allowing it to become an automatic response pattern or habit. It is usually the result of learning, repetition, and practice.” By reading this post you’re doing ‘automaticity’. You no longer see individual letters. You no longer pronounce eachRead More

Confronting negativity

Negative things are often avoided by lots of people. Everybody likes a nice positive story. But it’s strange though, how bad news sells more than good news. Talk to the media houses. So at least people say to themselves and others that they don’t like negative stuff, but they’re all tanking up on it in secret. But what do I mean by ‘confronting negativity’? I’m talking more about self-defeating assumptions that lead to an overallRead More

Who the devil is Dan Zanger – and why should anybody care?

It’s an unusual name, was my first thought. There’s so much that’s going on in the world, it’s natural to think, “Never heard of him! Yet another guru?”. In fact there is only a small handful of photos of Zanger available on the internet. He’s little known outside of trading circles. Even in trading circles he’s not well known to a majority of people.   To get you going, wake up to these facts aboutRead More