Instinct and impulse traders

[oildaytrader]

How many of you trade on instinct and impulse and are successful?You do not need to look at indicators , use systems and support and resistance.

How many years did it take you to get to the state whereby you are hard-wired to trade?

Instinctual actions - in contrast to actions based on learning which are served by memory and which provide individually stored successful reactions built upon experience - have no learning curve, they are hard-wired and ready to use without learning.

 

[robster970]

Isn't this achieved through the development of the cognitive skill (i.e. there is no hard wiring per se - it is learnt through practise and experience)

 

[Shanghai]

I would suspect the number of traders that trade on instinct and / or impulse is quite a few. I also suspect that the number of successful traders that trade on instinct / impulse is as close to zero as makes no difference. The alternative is to put in the hours of hard work to develop a trading system that you are comfortable with and the discipline to put it into practice, and few people, probably ODT included, are prepared to do that.

On the other hand I know several succesful traders that have good profitable systems that occasionally override their system, because their instincts, developed over many years are sending them a message regarding the direction of the markets.

 

[Shanghai]

Incidently I have to say that this is a really crap poll. For the question "How long did it take you to become a hard-wired trader?" for example. How does ticking that box help anyone?

 

[oildaytrader]

Incidently I have to say that this is a really crap poll. For the question "How long did it take you to become a hard-wired trader?" for example. How does ticking that box help anyone?

I must admit the poll was a disaster .We shall move on.

 

[HowardCohodas]

I must admit the poll was a disaster .We shall move on.

I did't check recently, but I believe there is some pretty good research that shows the brain is capable of identifying patterns subconsciously which manifests itself as what we call instinct. Those who study one particular trading instrument for a long time can frequently trade it without indicators with good success.

Impulse, as in an "impulse buy" at a store, would trouble me as a decision method. Of course, it may be difficult to differentiate between the two.

 

[FX Bandit]

Haven't you finished googling the answers yet ODDT?

http://www.trade2win.com/boards/gen...ntor-educating-unteachable-9.html#post1307684

 

[oildaytrader]

I would suspect the number of traders that trade on instinct and / or impulse is quite a few. I also suspect that the number of successful traders that trade on instinct / impulse is as close to zero as makes no difference. The alternative is to put in the hours of hard work to develop a trading system that you are comfortable with and the discipline to put it into practice, and few people, probably ODT included, are prepared to do that.

On the other hand I know several succesful traders that have good profitable systems that occasionally override their system, because their instincts, developed over many years are sending them a message regarding the direction of the markets.

Money management and risk management is everything, I only use systems/method for money management.Everything else about my trading is discretionary and based on impulse and instincts.My money management and risk management also dictates how I trade i.e when to enter/exit /stop levels etc.

Instead of using trading systems ,I use multiple screens,instruments,information and other inter market instruments to gauge entries/exits.It is all discretionary and partly based on multiple systems.

 

[FX Bandit]

Haven't you finished googling the answers yet ODDT?

http://www.trade2win.com/boards/gen...ntor-educating-unteachable-9.html#post1307684