You on about emotional triggers? How about fear, would you say that is emotional? How about greed, ditto? Do you trade currently 9003?
Im just trying to learn about psychological triggers I like psychology bro This topic interests me personally So im looking for a better explanation Just like an ad on tv triggers people to buy a product Or driving by a big coffee shop sign triggers coffee addicts like me to crave a cup of coffee Certain things on the chart trigger new traders to perform certain actions That professional traders trained themselves to control the urges to buy and sell when triggered Thats why they are more profitable because they have learned to stay cslm and not get triggered by the traps on the chart. And i want to learn more about those triggers basically.
Wouldn't you say that triggers are indiviual. What triggers you may not trigger other traders. I think it's a case of looking within oneself.
Interesting concept you have raised. I think most 'pros' get to where they are due to education + experience. Education is not easy to come by, it costs money and time needs to be set aside for it, plus there needs to be a longing from the participants to engage in it. Many people try to shortcut education but its false economy. Experience only comes from a dogged pursuit and repeatability along with the education. There's no shortcut to trading other than mentor, education, experience. Noobs need to forget about profits and concentrate on being systematic. Trade very small, get lots of trades under your belt, repeat repeat repeat, until it finally sinks in. By trading small and even holding losers, the pain of failures will teach you lessons even the books and mentors can't teach. Nothing like pain to get into the core of the brain to get you to behave correctly in trading.
It's actually a good idea to hold some losers. By doing so you are constantly reminded of failure. The lessons are burned into the brain.
Most institutional trading firms (the pro traders) have in-house psycho-therapists to help their traders be mentally in the game to trade even if there's crap occurring in their personal lives that would derail (sabotage) most retail traders that had the same. Someone looking for "psychological triggers" needs to be using a psycho-therapist (trader psychiatrist) to help them understand / manage those cognitive decision-making processes in their head while they're trading. There's even a TV show with a key character as a psycho-therapist (Maggie Rhoades)... Simply, you're already at a disadvantage considering your continuing comparison to professional traders or even highly successful retail traders because they most likely are the ones getting help to help them deal with what you phrase as "psychological triggers". By the way, there used to be one sponsoring the Psychology section here of the forum. You may want to contact Baron (forum owner) for her contact info if she's no longer a sponsor here at ET. Regardless, if you're truly serious interested in learning about your cognitive decision-making process (you coined it as Psychological Triggers)...I highly recommend you learn more about Behavioral Finance. wrbtrader
How to? Rules based traders use Tested trading Plan + discipline to address your situation. Artistic and intuitive traders - the great majority, Who knows? Decades of screentime and heartbreak? What would You say belongs in a solid trading plan? https://www.elitetrader.com/et/thre...solid-trading-plan.340340/page-4#post-5031706
I dont mean responce What im looking for are triggers that are in the chart that trigger new traders to act certain way That ptos learned to skip over Like for me personally i always end up buying on that small retracement up and then ride it on the way down because i cant tell a difference between actual trend reversal and a small bullish retracement . And then just like the book said i ride the losing trade all the way down and almost always manage to sell right before reversal. Why i sell? Because im exhausted from watching it go down every day. And im guessing all the other noobs as well But the fact that alot of us sell at the same time shows that there is a trigger that makes us all act at the same time