Change Your Attitude and Vocabulary!!!

Observing the world NEUTRALLY is just the first step of scientific attitude. The second step is not judgement it is modelling as close as possible to the observation. You can take yourself as the object of observation. For example I have "observed" myself as I think in many disciplines and I now see how I always iterate the same framework to anything.

Now look at how people have difficulties with just their political leaders: they follow them blindly so they must have some difficulties to just be objective even more with them for sure. It's not a question of intelligence it's a question of moral/intellectual honesty. So a high/low IQ has nothing to do with that. So yes a brain child, as I said myself in another thread, has the advantage of not being spoilt yet.

 

That was a really interesting post bundlemaker. And Jai, thank you for all your posts.

Your noticing concept seems very similar to the buddhist mindfulness concept where you gradually uncover yourself by being mindful of your feelings and thoughts. Meditation is simply a tool to help achieve mindfulness. Please tell me if I am way off in this though.

I am in the situation where I trade three ways. Two of them are longer term and well under control. One is 1min/5min bars so its quick. The strategy is excellent and defined on 1 A4 page but the speed at which decisions must be made has changed my level of control. Sometimes I have it under control. Other times it is way out of control. So I am working to improve my application of the strategy to the markets.

It may be that I can use noticing to improve my consistency

Can you tell us a little about how you apply noticing to trading? Do you diarize etc? What do you do to make it effective?

 

This makes total sense, at least to me. IMHO (and that of several of my colleuges and mentors) is that the process of moving on or "trying" to change is exactly what keeps you from doing so. No, I realize there is somewhat of a paradox involved with what I'm saying. When this notion was suggested to me, I at first argued and argued that in order to change you must "do something". I have now been convinced that it is not my conscious that is doing the doing.

The mind blowing part of noticing is that you don't need to do anything else. How could this be? Well, the explanation I trust is based on an understanding of your unconscious. I believe it knows all and has the ability, right now, to do anything that is doable. The unconscious will do anything of it you ask. The challenge is, so much of what you ask it is often self-contradictory. The noticing process cleans up the incongrueities.

There is much more to it than that, but it explains a big chunk of what's going on. There are many ways to start "noticing". If you feel like this is a real challenge for you (as it was big time for me) PM me and I'll give you a link to a web site that contained the answer for me.

 

You flatter me, suggesting it was my brain child. No, my primary skill is pounding ahead no matter what until I find what works. Often times, not in a very elegant manner. Nonetheless, effective

Forgive me for repeating, but I understand how foreign it sounds: don't TRY to not judge. It won't work (at least not for many of us). Harrytrader is the exception, not the rule. He is an engineer of the purest sort. By that I simply mean he isn't caught up in what the world has told him. He simply tries things out, with no preconceptions, until he finds something that works. Many of us will think we are doing just that, when in truth we are doing it with all are "baggage" still in tow.

If you want a fun way to start doing this, PM for the link I mentioned in the last post.

 

I think it is similar in many respects to much Eastern philosophy. I would make this comment (again, just my opinion). You mention a variation in control of your trading at times. I would suggest that maybe any of the control is merely an illusion. If so, then it provides some fodder to play with to figure out what's really going on.

Other than maintaining objectivity, I can't say any specific way I apply it to trading. Then again, I happen to believe (based on my results) that being objective may indeed be all important to the task. Moreover, noticing uncovers the essential me and allows for me to be the kind of person I really am.

So, for instance, if I can shed unuseful emotions (like blaming some event for a bad trade) and instead merely observe, I am infinitely more likely to not repeat the mistake.

The truly sad thing about many of the threads currently going at elite (regarding who is a crook and who isn't) helps no one. Everybody has there path. You gotta do what you gotta do to get to the point that you take full responsiblity. Including making a decision to pay someone $7,500 for nothing. It's not them, it's you.

 

Some excellent books that teach this concept and more are by Eckhart Tolle:

The Power of Now, Practicing the Power of Now, Gateways to Now

http://www.eckharttolle.com/mainpage.htm

 

Thank you for the post, Kiwi. I don’t know much about Buddhism, and have a tiny knowledge of Hinduism, where meditation and yoga are cornerstones of the faith.

I don’t believe that you’re way off, but very close maybe even “dead on”. To me the first step in noticing self, is “humility”. Not throwing hands up , giving in and throwing yourself in the hands of fate, rather admitting that you're a spec (like the rest of us) in the universe and the markets, and that you are 100% responsible for all of your actions and most of the results of your actions.

Since we discussed religion, in my church (the one I attend) many around me raised their hands. Initially, I thought it was a contagious meaningless thing, like the “wave” at a football game. Then I found out what the purpose of raising hands was…a physical act from the spirit that says, “I surrender, I am yours.” Then it made sense to me. I still haven’t found out the meaning behind the wave, but I will put me beer down and join in until I figure it out .

In “my” experience, you cannot effectively uncover and find yourself unless you have humility and take “complete” responsibility for your actions and results.

Long before I founded TradingScience, I began battling my trading demons and have improved my trading over the years. Here’s what I recommend you do:

1) Admit that you’re nothing more than a spec (like all of us) in the markets we trade. Accept 100% responsibility for your actions and results in trading. Grab your humilty, and hold on to it.
2) Go to the local 99-cent store and buy a composition notebook (the black and white marble cover) and begin a Personal Trading Journal. At the end of each day, write about your achievements and failures throughout the trading day.
a. The Harvard Business School concluded in a study that people learn more by writing, as opposed to reading, listening and watching. (that’s why I write reports, and hang out here on ET. Replying to a person’s question that hits home for me (a demon I wrestled with) helps me improve my trading discipline.
b. Reading something written in your own blood has an amazing impact.
3) Get a Personal Trading Plan- click the post count below my name and look through the posts / reports where I discuss “Personal Trading Plan.”

Steps 1-3 will get you on your way. If you need more help visit www.tradingscience.com , look through the resources, read some of the “Ramoutar Reports” here on Elite Trader, or send a PM / email.