Do they need to be certified or have some kind of advanced degree? How do you know which one is real?
Doesn't really matter. Analysts who aren't also traders aren't going to be able to provide much help as they will be unable to apply what's learned in analysis to the trading environment. Be wary of comments like "analysis can". This is distinct from "analysis does" or "analysis will". Yes, analysis can provide insight. But so what? Unless the client/patient can then modify his behavior as a result of this insight, then insight is about all he ends up with.
To answer the degree question yes.... an advanced degree (post - Masters, typically PhD and a licensure exam to be fully qualified....(that requirement was changed in just the last year in New York state. To answer the reply.... of course it is better if the analyst is a trader..... but other than myself, I do not know of any - would LOVE LOVE LOVE to find one tho! but also, Modern analysts are few and far between.... in NYC they are relatively common ..... and in Colorado..... and some other places.... but traditionally, analysts were medical doctors trained in Freudian classical psychoanalysis and this is a MUCH MUCH different way of working with people. One way to qualify a potential therapist as a modern analyst would be to ask about their experience with a practitioner and theoretician named Dr. Hyman Spotnitz. Private message me if you would like to discuss further... DKS
The point of focus would seem to be whether or not the analyst is a trader or can provide evidence that he can help the client/patient apply whatever he learns to his trading, not to whether the analyst is "modern" or "classical". When it comes to actual behavior and attitude modification, I should think that the work of, for example, Ellis and Harper would be more pertinent.
db.... my point of view comes from being first a classical psychoanalyst, then second a trader..... then third a trader who experienced the problems of self destructives and now being again a very aggressive day, position and investment trader.... who along the way discovered the dramatic difference in the techniques and most importantly the RESULTS of modern psychoanalysis versus classical. i am happy for anyone to not agree with me or to not be interested, but for those who have tried other approaches to curbing their tendency to give money back or to deviate from their plan, i believe the modern approach offers an very valuable element of the solution that cannot be found in any other form of psychotherapy. dks
Are you familiar with Ellis' work? If not, you may want to look at it, along with Douglas' (a trader) two books.
Ellis I am not sure of..... Elder yes, ellis ? I am familiar with Mark Douglas and in fact worked with him back in the middle 90's.... i like his work. DKS
Could you give us an example of a modern approach that would be used to break a long standing habit? Cigarette smoking is one example, another would be weight loss, if someone has tried to quit smoking 15 times over the past 10 years, then the old school of psychoanalysis would say that smoking has some positive intention for this person. It fulfills some need (and I am not talking about nicotine addiction). Once you resolve that need, that problem would go away. What would the modern theory say?
Yep... If she can help me quit smoking and change my perception that drinking is not fun, I'll consider...
Cigarette smoking is a special case because there is also a physical force in addition to an emotional one. I personally have no experience with it and modern analysis but will check into it. For other habits, it would be a matter of detecting and dissecting the colors and shades of the emotions that are happening in the background (unconscious) during the activity. For example, if I let a trade get away from me'sometimes I get 'stubborn' and let the loss get out of control. But what is really happening is that when I initially allow the larger than planned loss, I get angry at myself and 'secretly' feel stupid - ie the voice in my head, the barely conscious one says "you stupid idiot - you have been trading for 10 years - you know better - blah blah blah"..... but in the meantime, I focus on what indicators or logic i can come up with the decide the next exit point..... all the while ACTING OUT the essentially unconscious FEELING of being stupid by letting the trade go further against me. If I just admit to the feeling of stupidity right away, then I don't act it out and just get out and onto the next trade. For another trader, it might be that feeling or another unconscious emotional constellation but the process is one of detecting and dissecting in order to take away the force of the unconscious feeling and allow the mind to make free choices. Does that help? DKS