'Rethink About Trading Psychology'

Discussion in 'Psychology' started by Wallace, Apr 18, 2013.

  1. 'It's Time To Rethink Everything We Know About Trading Psychology 101'
    by Denise Shull, contributor Business Insider Apr 17/13

    "Conventional wisdom in trading psychology used to depend on two primary tenets
    discipline and "control your emotions."
    But that was before neuroscience started putting traders, poker players and other
    risk-gamers into brain scanners.
    Now that we know that all decisions depend on the presence of an emotion, most
    perception occurs outside of our awareness and that how our bodies feel will influence
    what we think, Trading Psychology 101 requires a re-write."
    http://www.businessinsider.com/trading-psych-101-2013-4
     
  2. toolazy

    toolazy

    ... as i said many times less trading better pl & lower drawdown....
     
  3. cornix

    cornix

    Very interesting theses and conclusion, which basically confirms my understanding of TA, which is a gauge to understand what emotions are likely to drive other people's decisions.
     
  4. toolazy

    toolazy

    one has to start thinking how to win against robots(not just HFT), which I have no doubt will become bigger issue later on and alter patterns. They will connect to internet messaging for live sentiment reading. Will trace groups of traders and derive edge, etc.

    determining when they hit market will be key.
     
  5. since 90% lose....you can write books, "how to re-think fundamentals, technicals, gurus, volume, etc...."

    i think all the authors should re-write books just to get more money from suckers.

    then, after 5 years when they all blow-up, write another book for the new people.

    i guarantee there are people opening up accounts right now with 5-10k....thinking they will buy a new house in 4 months.