The most important skill for succesful traders

The most important skills are the mental skills of traders , other skills like technical anylysis , systems , methods , technical skills and trade management are less important .Without a trading mindset suitable for trading , trader will inevitably mess up with latter skills .

I am leaving some 14 threads on phsychology and how it affects traders .Hopefully this will save some from losing , if you know your own mindset .The most important skills are between the 12 inches between the ears and how you execute the other skills.

This will also prepare you to write suitable methods and systems , to cope with the handicap of the human mind in trading.I have shown you a winning mindset here in my journal.


Winnners learn from winners
technical analysis dax signal


During trading your mindset will be overcome by any of the following handicaps
We can all suffer from

1)Self sabotage
2)impatience
3)greed
4)emotions /emotional hijacking /amygdala hijackings
5)stress responses reactive trades
6)informations processing delusions
7)Need to be right
8)Trading phsychosis
9)other phsychological wiring flaws related to trading.
10)acceptance of losses /loss grieving etc
11)getting smart for own good
12)Dunning Kruger effect
13)impulsivity
14) dealing with uncertainty
15)scalpers get scalped
16)Personality disorders

https://www.elitetrader.com/et/members/trading-education-buyer.495363/?page=2

One of the most succesful people in the world was a phsychologist.

http://www.independent.co.uk/sport/...ut-is-he-right-we-ask-a-panel-of-8426159.html


https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=alex fergusion phsychologist

 

I am curious, what retreats or psy methods have you used on yourself, if you have used any?
Also what do you think of retreats like dhamma (dot) org?

 

I don't know , but any such meditation , yoga and breathing techniques will help and will improve your trading .I might go there myself.

You also need mental preparations daily 1 hour before trading , just like athletes.Trading is a mental sport.



Brief List of the Nine Mental Skills
Successful Athletes:

1. Choose and maintain a positive attitude.
2. Maintain a high level of self-motivation.
3. Set high, realistic goals.
4. Deal effectively.
5. Use positive self-talk.
6. Use positive mental imagery.
7. Manage anxiety effectively.
8. Manage their emotions effectively.
9. Maintain concentration.

https://www.sportpsych.org/nine-mental-skills-overview

http://www.sportpsychologytoday.com/tag/mental-preparation/

 

You write with such authority, but you - yourself - has not tried yourself any of the mind/mental methods out there?????????????

why do you think yoga is the solution?
why do you think breathing is the solution?

 

I found a method to eliminate my phsyche from trading .I trade set and forget strategies with options.

Yoga gives you discipline , if you do 30 minutes yoga every morning , you will feel better because it destresses you and breathing exercises give your mind a weapon gainst emotional hijacking.These may not solve all the handicap issues , just make you readier for trading better.The mind is still at risk because of personality , stress tolerance , your sleep , energy , glucose levels , mental preparations , biases , beliefs and so on.


Once you go through yoga , breathing , mental preparations and meditation , you will be mentally better prepared

 

Is this what you are doing yourself?
Or should we wait you start these, for us to find out what it does in real practice?

 

It is not going to cost you anything , but I should also do these everyday .I agree

This is a good reccomended therapy.I do benefit from mindfulness.

Mindfulness is an ancient Buddhist practice which is very relevant for life today. Mindfulness is a very simple concept. Mindfulness means paying attention in a particular way: on purpose, in the present moment, and non-judgementally. This increases awareness, clarity and acceptance of our present-moment reality.

https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=mindfulness

 

why do you have a preoccupation with the letter h and the resultant misspelling?

 

I thought it was you????

 

Blind Spots in the Mind's Eye that Sabotage spelling it correctly.Thank you I correct my self in the future


phsychologist. = psychologist.

phsychosis =psychosis

phsychological = psychological

my brain is subcounciously programmed with h