...then why does it seem like a lot of guys here have emotional issues in excess? Let us prove each other wrong in the markets where the real battle is going on and don`t be overly concerned with bashing each other here on the forums at every opportunity. The frustration and anger along with other negative emotions is really shining through with a lot of the people posting here Remember, it is always possible to not engage in negativity and simply ignore it when someone say something you perceive as stupid, naive or whatever. Don`t let other people push your buttons Regards, Johnny
Emotional control or all the psychology shit is all bullshit. It's like the Medieval times where they would sacrifice lamb and people during full moons or all the other kind of ritual and bullshit people run. It's all about the lack in knowledge, experience and clarity towards what people do. Reminiscence of a Stock Operator, Market Wizard, and Van Tharp's book , along with others started this... Markets are very uncertain, so you have all these losers going into the voodoo shit, as much as they can... Most people in those books are losers. It's not something to post on a public forum but I have a very good reason to conclude that more than half of the Market Wizards are not worth getting the respect they are actually getting.... Of course, it's a marketing scheme...
haha, it is ammusing to watch how "trading pyschology" has become the new layers of useless indicators. The nuts and bolts of trading pyschology can be done up on one page... 1. put on 100 trades of a method that has some value over randomness and you will have more emotional control than on your first trade. 2. put on 1000 trades of a method that has some value over randomness and you will have more emotional control than on trade 101. 3. put on 10000 trades of a method that has some value over randomness and you will be a master of trading pyschology. Maybe I'm wrong though and hedge funds will be scouting buddhist monestaries for the next great trader in the near future...sure..
Emotional Control is a very important factor in success period. NLP is even a more indepth science in controlling Emotion, fear, greed, etc. Trading is very much "Psychology" (Black Box (QUANTS) just blew out in record numbers) as it is Mathamatical. A combination of Emotional Control and understanding Mathamatical equations is the perfect storm. I have been studying NLP and use it everyday in the "Private Equtiy World". It yields results beyond belief. The Art of Negotiation is based on Emotion and NLP science. The art of trading is based on Mathamatics and Emotion. To believe otherwise will ensure that you will fail as a trader.
I agree with you about the knowledge if and only if the knowledge you talk about is a combination of both technically and emotionally. Technically, know how Wall Street works; and emotionally, know what you have to behave. After some years experiences, almost everybody can acquire enough knowledge about what we should do in order to win. But very few can actually do, so it's like "Do as I said, but not as I do".
If you can't control yourself, you're not only in the 80 % losing traders, you are in the 30% gamblers. I have always had the right psychology, which is having no psychology at all and staying cold whatever happens, but it took me years to become profitable. Seriously, are you averaging down when you lose? placing market orders in fast market ? overtrade when you lose to come back? I can't believe it when I see good traders talking about those childish behaviours...