I have to say that going through more psychology/spirituality articles is opening my eyes. But first, let's finish the article on the 5 traps in decision making. http://www.fbi.gov/stats-services/publications/law-enforcement-bulletin/june-2010/good-decisions " Good decisions : tips and strategies for avoiding psychological traps" Information Overload The brain has limitations ( capacity, attention, energy,...). ==> 'plan the trader' makes sense. The brain processes things in two ways. First, the implicit one - can process more than 20K pieces of infos/stimulis per seconds, work via pattern recognition, is intuitive.However this part is prone to bias, and no use for completely new and complex problems. ==> 'plan the trader' part recognise that this part is used, such as "interpreting" the market info. getting info obviously logical part of brain. Second, the explicit one - logical, slow, methodical, requires a lot of mental energy. But can process only few amount of infos. ==> 'plan the trader' recognise parts where the logical one has to be dominant ( such as keeping losses small ) So if there are novel, complex or unfamiliar cases, it will be difficult for the conscious mind to operate, leading to analysis paralysis or oversimplification. Tips to avoid trap: - understand the 2 ways the brain work - recognise which brain one is using at each stage of the decision making process - remember one has strong cognitive bias. Try to use the logical one for careful and systematic analysis.
last psychological trap. http://www.fbi.gov/stats-services/publications/law-enforcement-bulletin/june-2010/good-decisions " Good decisions : tips and strategies for avoiding psychological traps" Emotions Can cloud rational judgement during stressful or high-stake events. Thoughts and emotions come from two different parts of the brain. First, the rational one that constitutes 80% of the brain mass. It is the conscious, and is concerned with language, speech, writing. Slow and deliberate processing. Second, the emotional one, or limbic system is concerned with learning and memory. It scans the environment continuously, and at the first sign of danger , flood the brain and the bloodstream with a cascade of hormones and neurotransmitters linked to figh, flight or freeze ( this is a new one in neurological research). ==> trader was frozen like a deer in headlights ? Basically, the emotional brain can short-circuits the rational one by producing quick, visceral reactions, body changes and impulse reactions. ==> these clowns should thank me for pointing out to them that ==> they would greatly benefit from at least one hour of clinical psy ==> sessions/day and for at least 12 months. Tips for avoiding the trap : - understand how the two brains work - be aware of one's emotions and influences - constant self-monitoring is key - ask questions about the source of the emotion. Is the emotion valid? is it real danger, imaginary villain or simply an ego threat? - is the strength of the emotional response appropriate under circumstances? strong emotions do impair ability to make sound judgments. - once a person recognizes the presence of strong emotions, the person can consciously switch to slower processes regulated by logical brain.
Now, I am starting to understand even better the components of 'plan the trader' , aka controlling before a trading session the level of different type of hormones and neurotransmitters. I would have never imagined that one could really control and regulate themselves like that. Learning everyday and everytime. It will be interesting to test this live next month, and see how it works on the combine.
It looks like that only on wednesday morning will I be able to update on how all these exercises translate. Patience.
The few days of reflections and meditations were good. I have more to do. 1) First, from the coach discussion, I have 50hrs of volunteering with female rape victims exclusively from india, pakistan and the middle east; hen 50hrs of volunteering with gifted female pupils exclusively from these geographical areas, 50hrs then with male kids 4-6 years old, and then 50hrs teaching numeracy and reading to adults male and female from this geographical areas. I am glad that there is a Western country with this demographic characteristics. I am taking the removal of these xenophobic attitudes seriously. Second, I will be dealing with foundations, family issues sorting ( it was indeed time lol). Basically with understanding, things are just so obvious. 2) I wish I had understood mental illness much earlier and better. Now, it is really best for people to take their own responsabilities and get to clinical psychiatrists and any other type of help they need. For some reasons, the coach asked me to look at borderline personality disorder, and others. But also to search and record online on IED. Here is "Intermittent Excessive Disorder" : <iframe width="640" height="360" src="http://www.youtube.com/embed/pRkcLPhYVco?feature=player_detailpage" frameborder="0" allowfullscreen></iframe> better summarized here: <iframe width="640" height="360" src="http://www.youtube.com/embed/0JFfvUd9bKg?feature=player_detailpage" frameborder="0" allowfullscreen></iframe> http://www.youtube.com/results?sear...j1j1.2.0...0.0...1ac.1.11.youtube.wPxSMmprDC4 http://www.mayoclinic.com/health/intermittent-explosive-disorder/DS00730 Mayo Clinic is a good institution that understands and has dealt with many people with this type of issue. It is no need to think one does not need help. They have seen and dealt with tooonnnns of people with such IED issues, they know more about the brain mechanism, the physiology mechanism than anybody. These professsionals hav PhDs, research work specifically on these mental issues, so they know their stuff very well. http://www.mayoclinic.com/health/intermittent-explosive-disorder/DS00730/DSECTION=causes http://www.mayoclinic.com/health/intermittent-explosive-disorder/DS00730/DSECTION=risk-factors http://www.mayoclinic.com/health/intermittent-explosive-disorder/DS00730/DSECTION=coping-and-support It is in a way very sad to now understand that all this mess was because some people had serious undiagnosed mental illness, and their illness was as expected just getting worse and worse because they never had the chance of being advised to seek professional mental health practitioners. So many life paths disturbed because we did not recognise or know about mental illness. Very sad indeed. I am glad I stick to my trading objectives and still on y same life path. I understand why the coach preached hiding first till the psychological/spiritual atmosphere got cleared. It is not clear , but getting clearer, so hiding as prudence method is good. Prudent first, then understanding, then risk taking. A trader is not a kamikaze. . I am actually very stunned that the coach reached out to me when it happened. The work is done , I can not repay monetarily the coach. First he never charged for that, second what he did is invaluable. 3) I learned quiet a lot of things, and things are now falling in place in a natural way in actually all areas of my life. All now makes sense. About trading - I have no worries really. It is now just natural. Just falling in place as well. I am at a stage where I do need just two screens - one for entering trades , one for prices. So next will be to change my trading equipment to 2 laptops only. I still have to work out my position sizings when trading "portfolio-style". One local gal is a lucky girl : getting her into trading.One month for her to read, then an account with the equivalent of her 1 year salary, and she will be having someone on the side to rebuild her daily trading account when she has a losing day. . Off for few days to get some interesting experiences, and will resume on ET again. Big Kiss and Huge Hug to all <iframe width="640" height="360" src="http://www.youtube.com/embed/WcddKkjJG9g?feature=player_detailpage" frameborder="0" allowfullscreen></iframe> and all the other meditation enlightment.
I was also to discuss the example of Olympian Suzy Favor Hamilton, "Suzy Favor Hamilton, a three-time Olympian who capitalized on her wholesome image as an elite runner, mother and wife to land lucrative endorsement deals and motivational speaking engagements, has admitted to leading a double life for the last year as a high-priced call girl." http://www.jsonline.com/sports/etc/...ked-for-escort-service-nj83v7j-184293031.html <iframe width="640" height="360" src="http://www.youtube.com/embed/xpVjZgJNLMI?feature=player_detailpage" frameborder="0" allowfullscreen></iframe> It would have been nice if the articles explained how persistant she was in hiding her activities, even trying to destroy the life of the person who spilled the beans. Luckily, her friends and accomplices did not manage to trap people in getting the person's identity - apparently they were promising hell to the person and nobody could understand why they were after this person ( yeah we are invetigating for an olympian, yeah we work for the government ( Berlusconi a politician is actually heading for jail time! lol), and so on and son on). Many people understand how hooking and lying works together. Sometimes, I wonder how people can just buy lies easily. Steamy nights help buy any stories. . Please, even if you loved it, keep the lies between your sheets, or go and see a psy to understand why you love finding escuses. A woman who didn't really need the money, former 3 times olympian ... married with a small daughter at the time aged between 4 and 6, who was servicing on the side for the right price. Another example of why it is important to take professional help as soon as possible. And those who discourage others for getting professional help, well well well may be they are very irresponsible. This is for a pal who I am warning about checking the mental health first. Off now : I have my own work to do on myself.
Racist don't like being called a racist. Prostituta do not like being called prostituta. Pimp do not like being called pimp. Why that? The only person who have 'serviced' in the past, whose prostituta nickname are unjustified, are those - like WONDERFUL Tsina woman - who have turned around and are running shelters to help kids and others off these activities. All the liars, 'devil advocate' : <iframe width="640" height="360" src="http://www.youtube.com/embed/Qn3igFZa2Sk?feature=player_detailpage" frameborder="0" allowfullscreen></iframe> There are beter things to 'advocate' about : this guy is advocating about a center helping teenagers off prostitution. THAT is cool. Computer off.
I might as well get back to trading. Now, I understand those who say "trading can be like a good psychological cure". Epiphany ... greek literature <iframe width="640" height="360" src="http://www.youtube.com/embed/4H0ctvDNdR8?feature=player_detailpage" frameborder="0" allowfullscreen></iframe>