As you know, psychology is a large part of trading so I wanted to start a thread regarding NLP (neuro-linguistic programming) and how it can help us. If you are not familiar with NLP, it is a branch of psychology developed by Richard Bandler in the 80s. Basically it seeks to 'program' the mind. I know this sounds kookie but when you think about it our minds encode all experiences and then store it for future reference. NLP seeks to change behaviour, thinking patterns, etc. through changing this 'code'. It is not voodoo or anything strange (although to someone hearing all this I can understand it may sound a bit weird). Almost all olympic athletes use concepts from NLP. For example, a skier will go through the course in their mind maybe hundreds of times, inorder to create a neural pathway for the 'perfect' run. This is a very common NLP technique. I'm curious to see if there are traders here who use it or are interested in learning more.
Yes NLP is a very interesting tool. It is very useful to model what successful traders do and try to do it yourself. I use it to prepare me for trading or when I am trading. Not every trader likes to trade. Well, at least I don't like it. I like building systems other people trade. Sometimes I need or want to trade for myself [the best systems ] but then extra work on the psychology is needed, then NLP is a great help. Indeed nothing voodoo about it. neo
Good question Babak, I have read many books about NLP and thought about applying the techniques to trading. Let us know what you find out in the future.