Prayer as a trading system

Well since people have started threads about using Astrology in trading, and using random coin tosses in trading, I think it is at least equally valid to talk about the power of prayer in trading.

Anybody tried it?
Did you notice any improvement in your performance?

At the risk of starting a religious war, if they were prayers of a particular denomination, sect or religion, you might like to mention it. We could rank religions in order of their best effect on trading performance.

As a former Catholic, I'll put in a word for the Rosary, since it is inherently number-based, and cycle-based, and I feel sure it should have a direct application into trading. It is based on a set of beads threaded on a thin chain. You have 5 groups of 10 beads, and each of the group of 10 is separated by a single bead. There is a short additional chain connected in between two of the groups of 10 with about 3 other beads on and a crucifix at the end.

The basic idea is that for each of the 10 beads you say a "Hail Mary", followed by a "Glory Be", and then "Our Father" on the single bead. I think you say "Hail Mary", "Our Father" and "Glory Be" on the 3 separate beads. Each of the ten beads represents one "Mystery" of the Rosary, which (I think) represents some aspect of Our Lady, Mary, mother of Jesus. Even when I was a full-blown believer, I was always a bit shaky on those mysteries, to be honest, but the saying of the prayers was easy enough; a bit mantra-like. During some sorts of church services, usually a priest or a nun will lead the prayers, and cough up all the mystery stuff for you.


Here's the full S.P.:

http://en.wikipedia.org/wiki/Rosary

http://www.rosary-center.org/howto.htm



How is this applied to trading?
Well, I could explain it, but really, it is so easy, it is left as an exercise for the reader.



I made 900% even as I was typing this.


God Bless...

Anybody tried it?

Click to expand...

To God or Satan ?


Paul

I tend to use religious exclamations for my exit strategy.

Many of my trading exits are accompanied by cries of "Oh, Jesus Fkking Christ", "Oh my GOD!!", and "Holy Sh1t".

Does that count?

In all seriousness, I do think "prayer" can have an impact on your trading:

As a rule I think you will find that people who pray "properly*" have deep set beliefs that they have faith in. In my experience, trading without a belief/faith in what you are doing (or why you are doing it) pretty much has a devastating effect on your PnL. As soon as you start to doubt yourself or your strategy, the wheels fall off.

Of course, it works both ways. some people pray "properly" to their pet hamster and put positions on based on how many revolutiuons of the wheel he runs that hour. You can have total faith in this belief, and in yourself, but still find yourself going round in circles (pun not intended).

** By "properly" I mean seeking comfort or solace from something you believe in. Crossing your fingers and saying "dear God, please can I make a wedge tomorrow" doesn't count as proper prayer IMO.

Crossing your fingers and saying "dear God, please can I make a wedge tomorrow" doesn't count as proper prayer IMO.

Click to expand...

No of course not, you need to add "Amen" at the end.


Paul

MrGecko said:

In all seriousness, I do think "prayer" can have an impact on your trading:

As a rule I think you will find that people who pray "properly*" have deep set beliefs that they have faith in. In my experience, trading without a belief/faith in what you are doing (or why you are doing it) pretty much has a devastating effect on your PnL. As soon as you start to doubt yourself or your strategy, the wheels fall off.

Click to expand...

I agree.

I remember some interview with Ed Seykota where he was going on about "visualizing" himself into profitable trades, which I guess is a form of prayer, in as far as you see sthg that isn't there yet, and by that process materialize your vision.

http://www.seykota.com/tribe/

I believe in that.

Naploeon Hill - richest (entirely selfmade) man in the world at the time -, famously remarked that thoughts are things in the same vein.

I can't agree that prayer is a helpful mechanism for traders, but only because I don't believe there is an entity to pray to.

It also smacks of 'trusting to luck' or wishing for 'divine intervention'

Meditation of one sort or another however is a great tool for a healthy energetic mind - this could be contemplation of the wide open spaces from a rock on a high hill, or the use of oriental techniques of divination using yarrow-stalks, or it could be yoga-induced. Either way, especially you analytically-minded newbies, lift your head up and think - knowing more TA is not the solution, as not knowing all TA is not the problem.