mind traps affecting traders

This is a discussion on mind traps affecting traders within the Psychology, Risk & Money Management forums, part of the Methods category; There is a lot of educational information on google search about mind traps and also pdfs.The same mind traps apply ...

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Old Apr 23, 2017, 9:36am   #1
Joined Apr 2017
mind traps affecting traders

There is a lot of educational information on google search about mind traps and also pdfs.The same mind traps apply to trading.

There is an underlying layer of consciousnessócall it the automatic mindóthat processes information automatically without conscious awareness. We engage our automatic mind in virtually everything we do. While putting on a trade , for example, our conscious attention may be focused on what so-and-so said today while our automatic mind is fast at work continually calibrating the movements of our hands on the mouse . We shift seamlessly to conscious attention whenever the need arises ("Better get to the right. My exit is coming up."), but otherwise we execute thousands of discrete movements of hand with little if any direct awareness of them. Think about it: Are you aware of how many times you entered and exited trades without any reasons?

Further reading
seach google with words "psychological mind traps pdf".
https://www.google.co.uk/webhp?sourc...cal+mind+traps

http://www.trade2win.com/boards/educ...e-reality.html

The Article is informing where traders can mess up with information processing ,traders must trade by processing information. Unfortunately, humans are not very effective information processors. We have a lot of influences that enter into information processing related to trading decisions.Traders who sit infront of screens are more at risk to misprocessing information.

Traders trade their beliefs ,cognitive biases and related distortions ,emotions ,stress responses (rective patterns ,freezing on trigger ,mistakes etc),subjective anylysis ,personality( Perfectionism ,Worry ,Overconfidence,
Negative Thinking.Self-blame etc),state of mind ,current body condition (tired ,fatigue,sleepless) and other influences .The trading phsychology is a complex subject ,the author has given a summary.


http://www.trade2win.com/boards/educ...ml#post2895796
Attached Files
File Type: doc Remapping the Mind.doc (54.5 KB, 24 views)
File Type: pdf ram174.pdf (39.4 KB, 33 views)
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Old Apr 23, 2017, 6:33pm   #2
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foroom lluzers started this thread https://www.google.co.uk/webhp?sourc...ed+to+be+right

The need to be right about placing trades plays an important part in their decision to day trade , secondly they get immediate action in the market .How does a new trader know , if the price will be higher or lower tommorow ? There are two fears that make them decide when to trade and what to trade , these are

Fear of Not Being Right :They could be wrong on a trade they have no certainty about

-Fear of Loss :They could suffer a loss on a trade they have no certainty about

In trading , when putting on a trade , we exit a trade when it moves a few ticks against us , we are constrantly re-entering into trades when it catches our direction and getting out of trades , when it it again moves a few ticks against us.This is a need to be right , in our brain calling the shots.

https://www.google.co.uk/webhp?sourc...+right&tbm=vid
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Old Apr 23, 2017, 6:52pm   #3
 
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Look this is so much BS. Either you have an edge or you don't. No mental toughness or "corrected processing of info" (whatever that is) will help stave off the losses.

Does psyche play a role in stressful risk taking, yes I agree. Must get your mind right, but without that sucessful strategy built on a solid edge won't matter your mind a steel trap.

It's the edge that mostly matters.
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Last edited by piphoe; Apr 23, 2017 at 7:08pm.
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Old Apr 23, 2017, 7:30pm   #4
 
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a mind trap is something like the trap at bottom of your tub. filters all the crap & bs but at some point ..

you have to deal with it.
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if you have a little volatility, half an idea where sh^t will turn, and a reasonable stop, I might be able to start making $ off this venture
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Old Apr 23, 2017, 7:53pm   #5
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foroom lluzers started this thread
Quote:
Originally Posted by piphoe View Post
a mind trap is something like the trap at bottom of your tub. filters all the crap & bs but at some point ..

you have to deal with it.
Watch this video on youtube , it will improve your understanding of your trading brain.You can improve your brain for trading.Traders try to be perfectionists and miss trades ,they close trades early ,if trade is not perfect.

Search"Procrastination & the "Perfectionist"

https://www.google.co.uk/webhp?sourc...nation&tbm=vid
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Old Apr 23, 2017, 8:02pm   #6
 
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Quote:
Originally Posted by foroom lluzers View Post
Watch this video on youtube , it will improve your understanding of your trading brain.You can improve your brain for trading.Traders try to be perfectionists and miss trades ,they close trades early ,if trade is not perfect.

Search"Procrastination & the "Perfectionist"

https://www.google.co.uk/webhp?sourc...nation&tbm=vid
i will ty. before ido...

Traders DO try to be "right", traders want to be right, who doesn't want to be right.

there are very few perfect trades, and often as traders we must close "early" only to see it run hard in our direction. too often we hold on to that perfect trade too long. give too much back, or get burned altogether lots of traders take too many, and many don't take enough.

and, what the hell are we talking about here lol
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Old Apr 23, 2017, 8:04pm   #7
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Quote:
Originally Posted by piphoe View Post
i will ty. before ido...

Traders DO try to be "right", traders want to be right, who doesn't want to be right.

there are very few perfect trades, and often as traders we must close "early" only to see it run hard in our direction. too often we hold on to that perfect trade too long. lots of traders take too many, and many don't take enough.

and, what the hell are we talking about here lol
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Old Apr 23, 2017, 8:12pm   #8
 
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wow, that's profound. rather than finger i'll make a fist

next time i

want

to

be

right

knock myself out

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