Meditation :mastering the monkey brain

This is a discussion on Meditation :mastering the monkey brain within the Psychology, Risk & Money Management forums, part of the Methods category; Originally Posted by piphoe An hour per day of meditation?! No way could I sit quietly for that length of ...

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Old Jan 23, 2018, 2:36pm   #16
 
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Originally Posted by piphoe View Post
An hour per day of meditation?! No way could I sit quietly for that length of time

I could probably do 10 mins. but be ancy at the end of that!
Try 2 minutes a day, then.
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Old Jan 23, 2018, 6:00pm   #17
 
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Try 2 minutes a day, then.
I see you are from French Polynesia.
What a paradise they say.
Or do you envy our sleet and snow ?
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Old Jan 23, 2018, 11:42pm   #18
 
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I might have lied and be actually based in SW London.
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Old Jan 26, 2018, 10:56am   #19
 
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Meditation

I think this is a great article and some good disciplines that can be instilled here
To the question below as to why banks employ "gamblers", well these days banking is very different and Meditation is a "new well being concept" relatively speaking.
These days also , banking is no longer gambling but moreso a flow business. That means that because of the likes of Volker Regulation, proprietary trading is seriously curtailed and therefore the tag of employed traders being gamblers should wane over the coming decades as the industry adjusts to their new business model. However, this tag will hang over the industry still for a decade or more still

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Every day, before I start trading , I always meditate 1 hour a day , I have been practicing meditation within a buddhist and yogic tradition. Working with a meditation teacher the entire time, as of this writing, I have logged well over 6,000 hours of meditation practice...........

Last edited by Trader333; Jan 26, 2018 at 3:01pm.
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Old Jan 27, 2018, 4:15am   #20
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I have a question for those that actually practice meditation in developing the trading mind. What outcomes are you targeting as a consequence of the effort? It is a very specific question and so I appreciate that if you can't provide a specific answer do not reply because I do not wish to end up with some abstract transcendental conversation.
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Old Jan 27, 2018, 11:51am   #21
 
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I have a question for those that actually practice meditation in developing the trading mind. What outcomes are you targeting as a consequence of the effort? It is a very specific question and so I appreciate that if you can't provide a specific answer do not reply because I do not wish to end up with some abstract transcendental conversation.
Its a fair question. Simple straight answer for you. One of the benefits of Meditation is to be able to be in the moment. Here and now. To not procastinate about the past or think too much about the future. Be in the current moment only.
Traders have a habit of procastinating about prior experiences good and bad. Also about thinking too much about the future.
Meditation means that all you think about and should think about is trading the trade in front of you right now based on its merits. Forget about any past experiences with that instrument or others. Just focus on the set up right now and whether it makes sense.
Hope this helps
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Old Jan 27, 2018, 1:52pm   #22
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One of the benefits of Meditation is to be able to be in the moment. Here and now. To not procastinate about the past or think too much about the future. Be in the current moment only.
Traders have a habit of procastinating about prior experiences good and bad. Also about thinking too much about the future.
Meditation means that all you think about and should think about is trading the trade in front of you right now based on its merits. Forget about any past experiences with that instrument or others. Just focus on the set up right now and whether it makes sense.
I understand the point about developing a trader mindset to "trade in the moment". The piece I would ask that you elaborate is what specific technique do you use during meditation to develop such a mindset.

For example, I do use meditation and in developing mindfulness I apply cognitive awareness in thought profiling. Being aware of the thoughts that generate emotions I then apply defusion techniques for emotional distancing.
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Old Jan 27, 2018, 2:03pm   #23
 
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I think that there is a place for the right sort of music to fit in with meditation.

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Old Jan 28, 2018, 10:11am   #24
 
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I might have lied and be actually based in SW London.
Well traders and French Polynesia are a good cocktail:
https://www.socialandcocktail.co.uk/bars/trader-vics/
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Old Jan 29, 2018, 12:38pm   #25
 
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I understand the point about developing a trader mindset to "trade in the moment". The piece I would ask that you elaborate is what specific technique do you use during meditation to develop such a mindset.

For example, I do use meditation and in developing mindfulness I apply cognitive awareness in thought profiling. Being aware of the thoughts that generate emotions I then apply defusion techniques for emotional distancing.
Sure. The technique to try and get the mind into the current state and not "drift" is to close ones eyes, think about what you are feeling in your body here and now and do deep breathing. Whenever the mind wonders from thinking about your current body state, bring it back in check. Do this for 5minutes or so
Then open eyes, focus on an object in the room and analyse the object with your eyes. Its shape, colour, size, position etc. Again, whenever the mind drifts away, bring it back to focusing on the object

All of the above has the intention as silly as it sounds, to bring the mind to the current and not focus on anything in the past or future.

I think these practices do have a place in a traders routine but I also appreciate others are not so keen on this. For me, it really does calm me down and relax mentally much more
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Old Feb 1, 2018, 4:32pm   #26
 
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The benefits for traders:
-killing negative thoughts
-focusing on the present moment
-noticing you're having thoughts
-controlling the mind
-chilling out

One of the problems with just being aware of the discipline side of trading is that it's easy enough to read the advice but hard to implement when you've just wiped out your last week's profit. Nothing is stopping you from staying at your desk and diving right in even if the market conditions are not right for the way you trade.

Self-discipline and willpower are developed by meditating, just repeatedly bringing yourself back to the present moment. Sure, you can do all that self-analysis stuff if you want but it's not necessary and possibly dangerous if you have any deep-seated issues.
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Old Feb 18, 2018, 12:31pm   #27
 
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Turn out the lights and be in the jungle

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Old Feb 19, 2018, 9:20pm   #28
 
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This is the way you should do it

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Old Feb 23, 2018, 2:21am   #29
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Self-discipline and willpower are developed by meditating, just repeatedly bringing yourself back to the present moment.
You emphasized the focus to be in the moment which logically means the opposite state is to be out of the moment. I have often seen the reference to be in the former state you alluded to but what does it mean to be in the moment instead out of it and more importantly why does it matter to our trading?

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Sure, you can do all that self-analysis stuff if you want but it's not necessary and possibly dangerous if you have any deep-seated issues.
Your statement almost seems contradictory. If one has deep-seated issues and instead of confronting it but instead seeking avoidance would be rather delusional. Isn't it?
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Old Feb 23, 2018, 10:40am   #30
 
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Originally Posted by Brumby View Post
You emphasized the focus to be in the moment which logically means the opposite state is to be out of the moment. I have often seen the reference to be in the former state you alluded to but what does it mean to be in the moment instead out of it and more importantly why does it matter to our trading?



Your statement almost seems contradictory. If one has deep-seated issues and instead of confronting it but instead seeking avoidance would be rather delusional. Isn't it?
Thanks for the questions.

1) When you're not in the moment, your mind is likely to be thinking of the losses you made or the fact that you're way under today's target or you're over today's target; any of these thoughts can cause you to take risks. So by being in the moment you only focus on making the right decision for the market conditions. Thoughts can beget emotions which beget trading decisions you regret later.

2) I'm suggesting that you don't try to "confront" it on your own. If you have any deep seated issues, then go to a therapist.
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