Trading Psychology

This is a discussion on Trading Psychology within the Psychology, Risk & Money Management forums, part of the Methods category; I know this my not be popular but I don't think that psychology accounts ofr 90% of your success in ...

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Old Nov 16, 2010, 1:55pm   #33
Joined Oct 2009
Re: Trading Psychology

I know this my not be popular but I don't think that psychology accounts ofr 90% of your success in trading.
Being disciplined is not going to increase your account if you don't have an accurate money management technique or if your strategy hasn't been accurately backtested before trying it in real time.
A runner works hard on the psychological side and on motivation but without a constant and qualitative training there are no results.
Obviously, that's only my opinion
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Old Nov 16, 2010, 1:56pm   #34
 
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Re: Trading Psychology

Quote:
Originally Posted by oiltrader81 View Post
I know this my not be popular but I don't think that psychology accounts ofr 90% of your success in trading.
Being disciplined is not going to increase your account if you don't have an accurate money management technique or if your strategy hasn't been accurately backtested before trying it in real time.
A runner works hard on the psychological side and on motivation but without a constant and qualitative training there are no results.
Obviously, that's only my opinion
Spot on!
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Old Jan 22, 2011, 12:11am   #35
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Re: Trading Psychology

I totally agree - just yesterday stock indices refused to move of positive news - after going long twice I moved the hand away from the mouse and took a step back. It meant ending the day down but it would have been a disaster if I continued to trade and lost discipline.
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Old Jan 26, 2011, 1:28pm   #36
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Re: Trading Psychology

As for me discipline is a very important part in anything including trading, so in some cases it's really helpful!
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Old Feb 17, 2011, 10:42pm   #37
 
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Re: Trading Psychology

bbmac started this thread Possibly the greatest and most underestimated advantage we have as traders, over those of our broker (s) is that we don't have to take the price. We don't have to be in the market when the broker quotes a price. We can remain flat - flat is a position too. Lol.

G/L
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Old Feb 18, 2011, 4:28pm   #38
 
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Re: Trading Psychology

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Originally Posted by bbmac View Post
Possibly the greatest and most underestimated advantage we have as traders, over those of our broker (s) is that we don't have to take the price. We don't have to be in the market when the broker quotes a price. We can remain flat - flat is a position too. Lol.

G/L


This is a HUGE weapon and one of the few we have over many instituitional traders.

One of the most important things I teach
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Old Feb 18, 2011, 4:55pm   #39
 
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Re: Trading Psychology

bbmac started this thread If as Victor Niederhoffer (Eductation Of A Speculator etc..) says '..The only job of a trader is to but lo and sell hi...' (*) then I would extend the maxim by saying that the only decision to make when your trading edge sets-up is What risk you are going to take to see if it works out.


(*) Some might argue that to buy high-sell higher -and- sell low- buy lower is okay too.

G/L
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Old Mar 31, 2011, 9:13am   #40
 
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Re: Trading Psychology

bbmac started this thread '...Never wait, nor hesitate, - get in quick before it's too late - You may never get another chance.
Youth's a mask but it don't last-live it long and live it fast.....'


Rod Stewart - The Killing of George (Part I)
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