Hypnotism - fear of pulling the trigger

Discussion in 'Psychology' started by accutrader, Jan 21, 2009.

  1. Has anyone tried hypnotism to help overcome the fear of pulling the trigger on a trade?

    I am aware that that the accepted way to overcome fear of entering a trade is to have confidence in your plan, trade with small positions initially and keep going until the fear is under control. I am also aware that hypnotism could lead to over confidence and erratic trading.
  2. I don't know anything about hypnotism?

    I'm not sure what it costs you per round trip to place a trade.

    But if you're trading for example an ES contract and you're paying $5.00 per round, have you thought about spending say $50 on just getting used to hopping in and out of the market?

    Place a trade, then IMMEDIATELY exit that position . Just to get over the feeling of placing a trade.

    Or finding an extremely cheap stock, enter and exit that position.

    Just to get you to accept the fact that you can be in the market, and out of the market.

    It helped me get used to placing my first real trades.

  3. never heard that one before but it's likely a result of a poor trading
    system/method rather than the hypnotism

    you need to compare and verify the psychologists' methods with if
    possible their clients — did the methods work for you ?
    compare rates/hr, estimated course of treatment and bear in mind that
    treatment isn't specifically about 'pulling the trigger', rather it's what's
    the cause of That problem and subsequent treatment of That problem
    in order to overcome the fear

    traders/money managers use hypnotists to enhance performance and
    while i've not used hypnotism, 'believe' it's the best practical method for
    someone who's stuck
  4. ammo


    go to www.ruthroosevelt.com.....there are a bunch of articles (free) for traders,if your not confident about pulling the trigger,you may not be confident about your ability to see opportunities,if this is the case ,work a little longer at one setup,trade it once or twice a day,there are times when it;s a free money trade,90% anyway,trade only those for awhile,if it works ,trade only those forever and keep increasing your size
  5. Nerves of steel are a prerequisite for successful trading.

    Ok, just kidding but mental control is half the game.
  6. You need to learn to relax:

  7. Wow, you should not need "NERVES OF STEEL" when just starting out. This is bullsh*t.

    You should be trading insignificant sizes. For example, you have 10k account size. Keep your FX position at 1$ per pip, then you will be comfortable. If you trade futures, 1 contract max: stocks 100 share max.

    Then, after you perfect your trading on a small scale, wash rinse repeat until you have a large lump sum and scale it up. This is when you need nerves of steel, or more like balls of steel.

    Also, some traders are more comfortable with risking money because we're risk takers at birth. Learn to accept the risks and embrace them. Afterall, we get PAID to take/trade risk!
  8. I sometimes get trigger shy after a bad loss or streak. THose usually come from being impatient.

    Stop or Limit Order @ places where patterns and support/resistance have good chance of breaking. Helps with patiences too.
    Now u r waiting for the opportunities to develop (if your stop/limit order is hit) and the order will be executed when the price hits instead of getting gun shy when the time comes.

    Less contracts may help too.
    #10     Jan 25, 2009