Monetary Aspect and Edge: Dividing point

Discussion in 'Psychology' started by WDGann, Sep 23, 2002.

  1. This is something that I have a posted about with people.

    Most of us agree that we need an edge for trading. Once we obtain this, we get into trading and because we can't utilize the edge we get into the psychological aspect.

    Let's talk about the dividing point and balance point between Monetary Aspect and Psychological Aspect.

    1. Let's consider which steps the traders are in, like the beginner, intermediate, advanced trader.

    2. When does the Psychological part overwhelm the Monetary Part. Or does it not.(Personally, it's once we get an edge)

    3. Do you always seek for technical ideas for more edge or do you utilize the discretionary aspect(instinct, inner voice, etc.).

    4. Your experience with the steps you took.
  2. In my opinion there are 3 types of "an edge":

    1. trade a lot and earn the spread

    2. have a new idea

    3. develop a gut feeling

    I believe most unsuccessful traders here are focussing on 3., which IMHO is the most difficult one to develop as well as to handle, but it is probably the most resilient one if market conditions change.

    I also think lots of wannabe-traders think they are working on 2., while all they are actually doing is trying different combinations of the technical indicators every charting application can produce in abundance.
  3. too many open ended ideas, not even formulated into distinct questions. What are you asking?

    Also, what do you need this personal information for? Doing research for the next "new release" book at $59.95?

    Do you need this to customize "your" trading style?

    Do you need this to get beyond "analysis paralysis"?
  4. I'm not trying to write a book. I think it's equally important to view trading psychology as a separately matter from your trading style, to both aspects together as one.

    I think there is a balance point between skill and mentality. The % of the weigh is different from others. But I think it's worth starting a thread about.
  5. sorry, I have no idea what this thread is supposed to be about. Can you restate it ?
  6. me niether :confused:

    Edit; Are you speaking of the technical(external) and psychological(internal) -- and how to balance the 2 as it relates to trading?

    or are you speaking about the monetary aspects of the game and to not let them effect your psycology?

    I'm kinda lost

  7. How are psychological aspects and the technical aspect, related?

    How's this...

    Commisso, 1st one...

    We just tend to look at them separately but as one whole topic. The relationship...
  8. Much better actually -- but the title of the thread was entitled "Monetary and Edge: Dividing Point"?

    I still don't fully get it though; are you asking how a traders method he may employ relates to his personal psycological make-up?
  9. Initial relationship to further on in your career.

    This is a psychology forum so I didn't consider it with the title
  10. Gann,

    Out of curiousity is your native tounge english?
    #10     Sep 23, 2002