Trading Psychology

[Lucifer]

I'm highly recommending this channel https://www.youtube.com/user/ukspreadbetting

 

and Paul Wallace a forex trader and mentor talks about trading psychology and bad trading experiences.

[Caseynotes]

Good blog piece on dealing with changing markets that fits in with not only the long spell of low volatility in the fx market but also the ups and downs in the crypto market. By Brett Steenbarger.

 

https://traderfeed.blogspot.co.uk/2017/12/trading-psychology-challenges-10.html

 

 

[Guest oilfxpro]

Most mentors have no clue about real trading psychology, they pretend to know it, only to convince their new customers  "that they know something".

 

If you want to learn real trading psychology, the real mccoy is in these psychology blogs that I have read.The mentors are internet marketeers , who  are the blind leading the blind, so I go directly to the Doctors in psychology and the researchers in trading psychology.

 

There are many snake oil sites full of nonsense, on the internet, here are the blogs that are most kosher/halal.Many traders will find them useful, they will also reveal many truths necessary for profitable trading.

 

https://forexfactory2017.wordpress.com/

 

https://forexfactorypsychology.wordpress.com/

 

http://tradingpsychology1.blogspot.co.uk/2017/10/best-psychology-threads-youtube-videos.html

 

 

 

 

[Caseynotes]

Hi   But what did you think of the article though?  The one by Brett Steenbarger  (who has a PH.D. in psychology and specialises in researching trading psychology).

[Guest oilfxpro]

Casey 

 

Dr Steenbarger, who I know about, is not my Guru,  he has some interesting stuff,  I like Dr Andrew Menaker.

 

https://www.andrewmenaker.com/

 

As regards the article, he just throws darts, blindfolded with total bs........................but here is the answer  in this post below .It contradicts what Brett Steenbarger says.The trading industry is the blind leading the blind.Ask Dr Steenbarger to operate multiple methods,  knowing the market can do anything, it can change at anytime, then he can get some experience of the real world.This is all nonsense from him, because a trader should be ready for anything.He has missed the wood from the forest of psychology.

 

https://forexfactory2017.wordpress.com/information-processing/

 

 

K I S S  KEEP SYSTEMS SIMPLE STUPID KISS principle

 

Dr Van Tharp “I can answer that question on a number of levels. At the most basic level, people must trade by processing information. Unfortunately, we’re not very efficient information processors. We have a lot of biases that enter into trading decisions. "

 

Your trading method /system must be Simple, because trading is a stressful mental activity.You method system must involve very low stress and emotional risks, it should be trade able  when market turns or changes.

 

 

[Caseynotes]

Correct, a system should be simple but we must be prepared for market changes such as a switch to low volatility or a switch in the directional trend of a market, the market is always in flux, it's just a question of time scale. Therefore there is a need to recognise current market conditions and apply a suitable system designed to suit while those conditions endure and that perseverance in a system not suited to current market conditions will damage both the trader and the account. Makes sense to me.

[Guest oilfxpro]

Nice video presentation

 

https://justonelap.com/webinars/

 

[Guest oilfxpro]

Very good psychologist Dr Andrew Menaker

 

 

 

Loads of trading psychology discussions for real traders.

 

https://www.andrewmenaker.com/ideas/blog/

 

Those who pretend to trade never experience any psychology , but real trader will experience it.

 

 

 

 

 

 

 

 

 

 

[Guest oilfxpro]

Here is the solution to trading psychology handicaps , use set and forget  strategies.These will considerably reduce  psychological handicaps and issues .Just need to spend 5 minutes a day, then set and forget the trade, go to gym or walking.

 

https://community.ig.com/t5/General-Trading-Strategy/Benefits-of-options-set-and-forget-strategies/m-p/19908#M1149