Beliefs That Sabotage Traders

This is a discussion on Beliefs That Sabotage Traders within the Psychology, Risk & Money Management forums, part of the Methods category; Originally Posted by Rande Howell Through applied mindfulness, you learn that you and your thoughts are not the same. The ...

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Old Jun 10, 2011, 5:34pm   #17
 
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Re: Beliefs That Sabotage Traders

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Originally Posted by Rande Howell View Post
Through applied mindfulness, you learn that you and your thoughts are not the same. The thoughts become the voice in your mind of your beliefs. To change beliefs you must learn to observe these thoughts. This takes away the power of fear to push you into avoidance. Add to this mix breathing as a way to manage the intensity of the emotion and you can stand up to your psychological demons.
Awakening and nurturing your heroic nature comes next.
Indeed....

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Old Jun 10, 2011, 5:36pm   #18
 
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Re: Beliefs That Sabotage Traders

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First slow down the incessant chatter in mind. Breathing and relaxation.

Second. Develop a mindfulness practice that allows you to separate your thoughts from who you are. Start recognizing that thoughts give voice to the self limiting beliefs that compromise your capacity to trade from impartiality.

Third. Once emotionally regulated and in mindful mode, start directing your attention to the more constructive parts of your mind. That is where re-design of the self begins.

Fourth. Practice.
Five. Stop touching yourself. You'll go blind.
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Old Jun 10, 2011, 5:59pm   #19
 
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Re: Beliefs That Sabotage Traders

I suspect that Rande's mind over matter stuff has its usefulness for a certain type of trader. Personally, I'm of the school that says when the charts and figures look right then take/dump the trade. Horses for courses I suppose.
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Old Jun 10, 2011, 6:08pm   #20
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Re: Beliefs That Sabotage Traders

[QUOTE=0007;1583458]Personally, I'm of the school that says when the charts and figures look right then take/dump the trade.


That's the only way. What other way is there?

"Beliefs" are easily ironed out, confidence is not something easily installed.

Some people are scared of their own shadows. That's a major issue.
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Old Jun 10, 2011, 6:20pm   #21
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Re: Beliefs That Sabotage Traders

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Aha ! You have realised Tony turns the key clockwise until it's very taut.
It's his key that's he turning to taut, not mine. Trading has a way of fleshing that out

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Old Jun 10, 2011, 6:22pm   #22
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Re: Beliefs That Sabotage Traders

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Five. Stop touching yourself. You'll go blind.
Maybe all that touching stuff is why traders stay blind to the possibility that is right in front of their face.

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Old Jun 10, 2011, 7:00pm   #23
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Sounds like the xfactor attitude.
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Old Jun 10, 2011, 9:44pm   #24
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Re: Beliefs That Sabotage Traders

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I suspect that Rande's mind over matter stuff has its usefulness for a certain type of trader. Personally, I'm of the school that says when the charts and figures look right then take/dump the trade. Horses for courses I suppose.
Not much of a mind over matter person. It is the mindset that intersects possibility that interest me. The same uncertainty will be seen by all traders. Some have a methodology that allows them to have a edge applied over time. Some have the methodology training, but when they see the set ups they find reasons not to act -- they hesitate. Others see the same set ups and have built an attitude that allows them to trade based on meeting criterion of trading plan -- impartiality. The mindset that embraces the uncertainty determines probability of outcome. Or as Schroinger's equation observes, "The act of observing an experiment, does in fact, change the course of the experiment."
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