It is funny. When I was in high school I ran track. I was put in the 800 yard race because the 800 yard guy got sick. I was a sprinter that specialized in 50 yard dashes up to an eternal 400 yards, and I don't remember ever having run farther than 400 yards up to that point in my life. The gun went off and I ran like a madman, like a sprinter runing the 400. After a minute I was almost 1/2 the length of the track in front of the rest of the field. I ended up winning the race by well over 15 yards and broke the school record for that event. You see, I had forgotten I was running the 800 yard race and ran it like it was the 400!!!!!!! LMAO What is even more, I had no idea how I was supposed to run the 800 even if I remembered that was the length I was running, so I had no preconceptions of my limitations. I think so much of what we are capable of is what we believe we can or can't do, not a limitation necessarily imposed from the external world. nitro
I have no doubt that you are right that a place that allowed a Hitler to arise would not allow a Bush.
50: 5.65 100: Never ran outdoor track - got sick with a tuberculosis germ. 800: I don't remember exactly. I remember my coach telling me that I ran the first 400 in a little over 50 seconds (51.3 ?), and the second 400 under 60 (57.2 ? I was going backwards the last 400) It was the first and the last time I ran this event, to the dismay of my coach. My best time in the 400 was actually in practice when I was training with the varsity team: 49.8. I was a sophmore when this all happened and then I got sick. nitro
Well spoke. It is through bouncing the ideas expoused in these threads around in my head that I am able to shift my thinking from what I believe to be the truth(s) of the markets to, well, new truths.
Back to the original topic and resuming. Psychology alone wonât make you profitable. You need a good system first. Balls alone wonât make you profitable. On the contrary, if balls is everything youâve got, you are very likely to blow up faster and more spectacularly. Brain alone wonât make you profitable either. If you only have brain, you have better chances to come up with a good system but then your lack of balls wonât make you win very much. You wonât probably win very much nor lose very much. So you better have a little of both. Running very fast wonât make you profitable either. However, after youâve managed to put a decent system together, then studying some good psychology may help you refine and focus your game and objectives. Regarding trading and investing Tversky and Kahneman wrote interesting papers and books. Please note that a degree is still not needed. Then, if youâve got balls, the added confidence can help you trade a larger account and/or use your leverage more effectively. If you donât have balls, better go getting some somewhere. If you have a decent system by now, that probably means you already have some brain. At that point, even running may help your trading. Still not needed running fast. Jogging for a couple of km 3 times a week will raise your epinephrine and serotonin levels and hence improve a mildly depressed mood, keep you in shape, give you even more confidence etc. One very important factor in becoming successful in anything is the notion of effortless motivation that nitro posted about a few days ago. If you truly enjoy what you do to the point of doing it effortlessly you will succeed. At that point is not even a matter of beliefs anymore. You donât question or worry if youâre going to be successful because you already KNOW you will no matter what. It has become part of your sense of identity. Be well everyone GS
Someone mentioned a book in another thread: "The Path of Least Resistance" by Robert Fritz. Its not actually about psychology its more about "structures of behaviour" and argues that some of the times psych can't help people out of their holes (got a plan, tested it, still dont do it real time, keep doing the wrong thing) that its a structural issue not a psych issue. It goes along with Peter Senge's structures work. Anyway, if someone was still stuck despite knowing what they were doing wrong then this book might help them to unstick Good trading.
lets say psychology is important to the poker player. how wld u say trading differs from playing poker, with respect to psychology being a factor?
âYour system includes a mechanical part and also an organic emotional part. When you have these in tune with each other driving flows. Sometimes you can steer with your knees, eat a sandwich, use your cell phone and perform other neocortical tricks; sometimes you go limbic.â - Ed Seykota