Good article on trading psychology

Bizkine

Junior member
23 1
Anyone here on the list of Sylwester May?
Just received email from him with link to his new article. I hope he will have nothing against it if I paste it on public forum :devilish:
 
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tenbobtrader

Guest
450 140
thats a real good to the point short pdf link Bizkine

(refer to taster article only / not link on the link / not followed the trail :))

a spot on observation imvho

later

Andy
 

Bizkine

Junior member
23 1
Yeah...I think it is taster or something like that. Noticed that too. But just thought it may be helpful for someone. For me it was something new. Never seen here anyone posting articles form this website so I thought you know...There were other earlier but I think I deleted older email.
 

mrsoul

Well-known member
323 35
Anyone here on the list of Sylwester May?
Just received email from him with link to his new article. I hope he will have nothing against it if I paste it on public forum :devilish:



I completely agree.
Once you start stinking up the board, it's time to turn off the power on your computer and take a break.
Usually, when you return, you are able to perceive the markets with a fresh mind and your chances of success are alot better.
 
B

Black Swan

0 0
Anyone here on the list of Sylwester May?
Just received email from him with link to his new article. I hope he will have nothing against it if I paste it on public forum :devilish:
How's that a 'good article' on trading? a 5 page pdf that could have been condensed into 1 page/5 paragraphs that tells you nothing except stating the bloody obvious...? Jeez..:rolleyes: A total waste of 2 minutes of my life....thanks...
 

cuotes

Active member
236 29
I completely agree.
Once you start stinking up the board, it's time to turn off the power on your computer and take a break.
Usually, when you return, you are able to perceive the markets with a fresh mind and your chances of success are alot better.
After reading last Steembarger's book, I can't agree.
Too long story to summarize here but try to read "A tale of two traders".

I can try to copypaste here if someone interested.

The general idea is that when you take a break, you lost focus and "hours of market". As long as you don't loose yourself control, it's better to keep fighting.

He explains the situation better than me :LOL:
 

Bizkine

Junior member
23 1
When it comes down to trading psychology, I believe in learning from experience rather than books.
I don't see any contradiction there. I have read this article and although I am not any professional I think there is a point in this article.

I often catch myself looking at the chart for many hours and the more I look the less I see. But when I leave it and then return I feel like I 'see more'.

Hmm..interesting. I did not know it is called 'channel change' but still - the fact that this article goes in line in some way with my experience makes me think there must be 'something' with it.
 

cuotes

Active member
236 29
When it comes down to trading psychology, I believe in learning from experience rather than books.
I reckon books as an useful tool in this field.
I use both, books and self-experience.
 

disi

Member
98 5
OK, but what is the conclusion? Article is touching serious problem. As far as I understand it:

- the longer we watch the charts the less we understand- right?
- solution - we allow our mind to focus on something else so it 'clears up'

I would add to this my own observation. It often depens on traders psychology - some of us will be able to focus on charts for longer time, while other not.

Which group are you in? The question is how much time we need to 'clear' our mind. If we can determine that time that would be beneficial.
 

cuotes

Active member
236 29
- the longer we watch the charts the less we understand- right?
Just like women :LOL:

Personally, I like to keep an eye on the chart just for visual reference, but I got deceive by the chart quite often.

I think that all we have certain tendency to "find" clues in the chart, leading to wrong decisions.
 

disi

Member
98 5
Just like women :LOL:

Personally, I like to keep an eye on the chart just for visual reference, but I got deceive by the chart quite often.

I think that all we have certain tendency to "find" clues in the chart, leading to wrong decisions.

Why woman? :)

I also found that we tend to see things that are not on a chart. have you ever seen that test when you have dots and they tell you to answer "what you see?" There are only dots but everyone see something different. Some see patterns made of those dots etc ;)

I think that author may be on point there. I remember I had once a program that was drawing some kind of 'charts' based on some mathematical formula. It had nothing to do with charts or financial markets.

interesting thing that the charts that were drawn were almost like charts on financial markets! :) I could see patterns there known on financial markets :) But still...it was only 'false' chart made by computer...

Interesting?! :)
 

cuotes

Active member
236 29
interesting thing that the charts that were drawn were almost like charts on financial markets! :) I could see patterns there known on financial markets :) But still...it was only 'false' chart made by computer...
:LOL: Long time ago a friend sent me a chart by email. He asked me to analyze it. I won't tell you which company it belongs, he told me.

I did my best. I found trends, supports, resistances and some patterns. Finally I wrote my advice on buy it, including careful details about stoploss and profit take levels.


Do you know which was the company?

It was a chart generated by a formula that ramdomly selected up/down movements :mad:

ps. same experiment was conducted with other friend with identical results.
 

disi

Member
98 5
:LOL: Long time ago a friend sent me a chart by email. He asked me to analyze it. I won't tell you which company it belongs, he told me.

I did my best. I found trends, supports, resistances and some patterns. Finally I wrote my advice on buy it, including careful details about stoploss and profit take levels.


Do you know which was the company?

It was a chart generated by a formula that ramdomly selected up/down movements :mad:

ps. same experiment was conducted with other friend with identical results.


haha..nice one ;)

That is what I am talking about. I also used program that generates charts.
Interesting is also that many people look at the same chart and each of them sees something different :)

Or If I stay too long in front of computer I see less and less.

I remember during by higher school I had professor that was teaching us technical analysis. He also told me once that professional traders leave computer when they begin to feel anxious about what is going on.
 

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