Tag: psychology

 

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

Desirable core psychological characteristics for traders

The following is my reflection on the characteristics of successful traders. I do not go into long explanations on each of these. Some of these overlap each other: Toughness and resilience – taking the hard knocks, not being crushed by failure, rising again, facing reality. Determination – a refusal to accept defeat. Probably a double edged sword as it could lead to even more catastrophic failures by the most determined who just have not understoodRead More

My personal mantra

The following is my personal mantra. It lives on my desktop. It is updated on my desktop as necessary. Others may modify to suit their individual needs, as this is not prescriptive. READ AND REPEAT THIS A FEW TIMES PER WEEK. Whilst all of the following may seem very simple and logical, they represent all of the lessons you have learnt and forgotten. You must read all of the following every day before trading or beforeRead More

Grasping the basics

Many new traders will find the whole business of ‘understanding’ what’s going on to be mind-boggling. After all there is so much new terminology and concepts to put together. Charts often appear to be confused and even video materials seem so filled with jargon. All this could be real deterrent to new traders finding their feet or even persisting. The risk is that new traders forget about all that and just have a go. What’s likelyRead More

DEMOPHOBIA

Cutting to the chase quickly, this is about fear of demos. What’s a demo?  A demo is a demonstration item, appliance, facility or whatever – it doesn’t really matter. Yes I know ‘demophobia’ has another formal meaning. I’m using here to refer to demo accounts only as defined in the infographic below. I’ve now come across six people who are crippled by this condition. One is a pre-demo-trader, the other five are new traders whoRead More

Honing my strategies [ER strategy updated]

It’s taking some time but I’m observing what I do and what I ought to do be doing more. Strategies are things in evolution. I’m still preoccupied with Earnings Releases (ER) because it is one time when share price can jump even when Wall Street or the DAX (GER30) are generally down. As mentioned in earlier posts, there is an effect of the stock indices on consumer confidence in buying shares (and I remind allRead More

Winning more on demos?

There’s a curious situation that can arise where, you begin winning more on demo accounts than on live accounts, and it has been bugging me. The screenshot below is from my demo account and it should be obvious why this is bugging me. BTW I’m not just talking about the sums of money won – I’m also talking about overall profits. But before I forget, it’s important to recognise that when you begin wining onRead More