Trading Psychology

This is a discussion on Trading Psychology within the Psychology, Risk & Money Management forums, part of the Methods category; http://www.bbc.co.uk/news/business-19849147 'Gekko syndrome' So why do banks recruit these gamblers in the first place? "What I have observed is a ...

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Old Apr 16, 2017, 7:13am   #113
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http://www.bbc.co.uk/news/business-19849147

'Gekko syndrome'
So why do banks recruit these gamblers in the first place?
"What I have observed is a big emphasis in banks on technical competence - high cognitive ability or IQ," says Mr Curnier.
"When it comes to EQ [Emotional Quotient], my sense is that people are not spending a lot of time focusing on that."
Michael Douglas
Image caption
Does the "high roller" image of Gordon Gekko attract the wrong kind of candidate?
EQ is a measure of individuals' ability to manage their emotions and their relations with others, developed by psychologist Daniel Goleman.
Mr Curnier says many traders suffer from "Gekko syndrome", like the "greed is good" anti-hero of the film Wall Street.
They lack self-awareness - the ability to understand their own emotions and how they affect others.
The aggressive, risk-taking, boundary-pushing, "high-roller" image of the trader tends to attract exactly that kind of applicant.

http://www.bbc.co.uk/news/business-19849147
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Old Apr 16, 2017, 3:55pm   #114
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A few videos by Dr Steenbarger on youtube called:Trading Coach Shares Views on Three Common Problems for Tra

Nice article on internet by Dr Steenbarger called "A Dozen Thoughts on Trading Stress and Emotion"
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File Type: doc Remapping the Mind.doc (54.5 KB, 43 views)
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Old Dec 31, 2017, 3:53pm   #115
 
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I recommend this article about trading education and psychology of trading:
https://tradinglab.tech/en/books/psy...eenbarger.html
This is a review of Brett Steenbarger's book “Enhancing Trader Performance. Proven Strategies from the Cutting Edge of Trading Psychology”
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Old Jan 29, 2018, 5:58am   #116
 
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Above posts are very informative. I look forward these kind of post in future too
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Old Feb 7, 2018, 9:17pm   #117
 
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I agree with the point that many people lack self-understanding and many really fail to notice a very important factor - emotions.
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Old Feb 9, 2018, 11:36am   #118
 
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Quote:
Originally Posted by Robbe View Post
I agree with the point that many people lack self-understanding and many really fail to notice a very important factor - emotions.
Definitely. The problem is, when you're angry or stressed, you often don't realise it.
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