Here are some of links to ADVANCED trading psychology websites/blogs: http://intradaytradingsecrets.blogspot.in/ http://www.markdouglas.com/ http://www.daytradingpsychology.com/ https://tradingpsychologyedge.com/ http://thepatternsite.com/Psychology.html http://www.brettsteenbarger.com/ Feel free to share your favorite links to advanced trading psychology websites/blogs.
There's different aspects of "trading psychology" and its critical the trader knows which aspect he/she is within. For example, if you're problems are personal (e.g. nasty divorce) and its sabotaging your trading...an online trading coach will not have the ability to help you with that. Instead, you need to get personal (in person) help with psychologists in your local area that deals with stuff like that. In contrast, if personal issues in your life is not the cause of your trading problems and its more to do with fears & greed type of stuff...maybe the online trading psychologist will be able to help you but once again...it must be done in person. Why the emphasis on the in person help ? Most traders hide a lot of crap that an online person can't see. A lot more difficult to hide that stuff when someone is sitting next to you in your home watching/evaluating how you navigate from trade to trade and from day to day. Also, be careful because most of the online "trading psychology" stuff is bundled with "mentoring" stuff. I personally believe that if someone doesn't have access to in person psychology help...they should subscribe to psychology magazines or books aimed at mental well being development, behavior finance, self-sabotage are some decent books on the topic to start. Seriously, think about this very carefully. Many institutional trading firms, banks, top funds have in house psychologists or send their traders to psychologists if needed. Its all in person interaction. Simply, if someone needs help, get out of that chair and go see someone local in person or maybe do home visitations. Just as important, most of today's top corporations have potential employees take psychological evaluations test to help determine is someone is a good fit with the company...many of the world top financial institutions do the same prior to hiring traders, managers and so on considering these people will be in charge of millions of dollars. In contrast, most of the online psychology stuff is aimed at retail traders and retail traders need to be very careful about such. Therefore, my advice to a retail trader is to determine if he/she is having problems with their trading due to variables outside of trading (e.g. you're in a depression due to death in the family and unmanageable financial debts) or if trading problems are due to variables inside of trading (e.g. fear of taking a valid trade after a losing trade) or maybe its both involving outside and inside variables. I myself use to (not anymore) have serious trading problems during the summer time when my kids were home most days when school was out for the summer. That's something a child psychologist works with and had to visit my home to see how the kids were interacting with me and each other during the day when I was working involving my parenting skills while working. Thus, I had to determine my trading problems in the summer was due to outside variables. This is important because the last thing a trader wants to do like in my situation is to hook up with an online trading psychologist that is not able to see what's actually occurring in my home while I'm trading in the summer. If you can not afford the hourly rates of your local psychologists...its than your responsibility to determine what is your problem and then buy books online, subscribe to psychology magazines that deals specifically with those topics. In addition, you may be surprise to find a lot of this information for free at your local library on topics specific to your problem. With that said, a common problem I see with many traders involves Fear & Greed and the below Amazon books have many good books on that topic. http://www.amazon.com/s/ref=nb_sb_noss_2?url=search-alias=aps&field-keywords=Fear+and+Greed Further, I think all traders need to understand how they behave when money is on the line and that's where psychology information involving Behavior Finance can help a lot especially with your subconscious behavior...many things we are not aware about our decision making involving money especially when we are under pressure to make a fast decision. P.S. I'm a strong believer that retail traders should take a psychological evaluation test prior to opening a trading account just like professional traders must do prior to hired at an institutional trading firm. I only say that because recently (in the past few years) I've met too many newbies that shouldn't be involved with trading and they believe because they have a little money and valid ID...that's all they need to get started.
The only trading psychology you need is here on ET -- and a look in the mirror. (I barely looked at those websites, nor care to. are they selling something and/or are they profitable traders themselves...doubt it...)
News alert... To be a psychologist or even a good one you are not required to be a trader. Seriously, if you were a banker and you had depression...would you then go see only a psychologist that worked as a banker ? Seriously, there was someone here that came back from Iraq and had PTSD (post traumatic stress disorder) and he decided to become a trader after marital problems and loss of job. I'm sure he didn't go to the VA hospital and demand a psychologist that was a profitable trader. Yet, that's exactly my point about those websites. Traders hide stuff from online psychologists which is why I don't recommend online psychology websites especially those that bundle psychology with mentoring online or bundle psychology with a trade method system...most of them do. Therefore, yes...you're absolutely correct...most of those psychology websites are also bundled with selling trading systems and I believe they do that as their way to show they can relate to traders about trading. I personally think that's a big mistake and may actually encourage traders to hide what's really causing their trading problems along with directing them into another trading system when there may be nothing wrong with the trading system they're having problems being profitable with. Therefore, its best for the trader to just determine what is the problem and then personally see someone that deals with that problem and then resolve that problem prior to returning back to trading considering most trading problems are due to variables outside of trading. That's what I had to do as briefly explained in my own personal trading problem example in my prior post in which I had to hire a child psychologist about my kids. Would have been silly for me to tell her that I prefer a child psychologist that trades...ignoring the issue involving my kids that was having an indirect negative impact on my trader. So yeah, we need to look in the mirror and be honest about what's causing the problem. This forum called Elitetrader.com will not do such for us and in some ways I think this place encourages traders to point the finger at others instead of at themselves.
Here's Rande's - personally I don't care for him - but other's do.., and I am no where qualified to be their filter https://www.mytradersstateofmind.com/ ======================== Now OP - my real question First link is to your blog...,, near as I can tell Says you studied maths and a software programmer What gives you the expertise..., to lend "advanced" - or otherwise..., trading psychology help.., to us idiot traders What gives you the credentials..., to link your blog..., to other "acknowledged" trading psychologist Call me curious..., and inquisitive Thx RN
ET itself a veritable treasure trove of insights into the minds of traders. There's no reason to look beyond ET for things such as why mental patients smear feces on the walls of their padded cells. The thread below is filled with insightful references to the delusional psychological composition of it's resident simtrader. http://www.elitetrader.com/et/index.php?threads/the-surf-report.285862/page-300#post-4235503
Here's another example of studying psychology to get inside the mind of a simtrader without ever needing to leave the comforts of ET. Note this particular specimen is so far removed from reality he views being caught lying cheating and trolling as a positive that increases his chances of attaining legendary infamy as a chocolate nemesis. http://www.elitetrader.com/et/index...short-shake-shack.291104/page-69#post-4235700
Trading psychology is no different from career psychology in general if we speak about setting and achieving desired career goals. If we speak about behavior of market participants, that's behavioral finance.