Trader's Instinct! |Pros and Cons|

Joseff

Established member
874 34
Have you ever taken the position against all your indicators, strategy and logic, just because you felt that it should work? And eventually it worked. And eventually your trade was closed with nice profit. Does it sound familiar to you?

It can work in another direction. Perfect position was closed just you did feel good about it. And you avoided a huge loss!

Does Trader's instinct something that only Pro can master and follow or average trader also should listen to his heart?

Regards,

Josef
 

new_trader

Legendary member
6,511 1,413
Have you ever taken the position against all your indicators, strategy and logic, just because you felt that it should work?
Yes.

And eventually it worked.
No.

And eventually your trade was closed with nice profit. Does it sound familiar to you?
No, never, eventually closed the trades with a loss.

It can work in another direction. Perfect position was closed just you did feel good about it. And you avoided a huge loss!

Does Trader's instinct something that only Pro can master and follow or average trader also should listen to his heart?

Regards,

Josef
I only 'listen' to my head now, that's where the brains are.
 

Gordon Gekko

Member
68 4
Have you ever taken the position against all your indicators, strategy and logic, just because you felt that it should work? And eventually it worked. And eventually your trade was closed with nice profit. Does it sound familiar to you?

It can work in another direction. Perfect position was closed just you did feel good about it. And you avoided a huge loss!

Does Trader's instinct something that only Pro can master and follow or average trader also should listen to his heart?

Regards,

Josef
Hi Josef, read this book on my recent holiday Trading Instincts: How to Become a Master Trader Financial Times Series: Amazon.co.uk: Curtis Faith: Books - was a good read whilst sunning myself in the maldives
 

neil

Legendary member
5,167 747
Hi Josef, read this book on my recent holiday Trading Instincts: How to Become a Master Trader Financial Times Series: Amazon.co.uk: Curtis Faith: Books - was a good read whilst sunning myself in the maldives
Here is a summary from one reader - there are higher rated ones but this one gives a flavour,
(y)

of 3 people found the following review helpful:
3.0 out of 5 stars Good for the Novice Trader, 11 April 2011
By PureSymmetry (london) - See all my reviews
(VINE VOICE) This review is from: Trading Instincts: How to Become a Master Trader (Financial Times Series) (Paperback)
I really like Curtis Faith as an author and have all of his books. This one in my opinion is only worth reading if you are new to trading.

Faith talks a lot about intuition, and rightly points out that only trained intuition can be relied upon. Master traders have a trained intuition. Translation: Master traders have a lot of experience. I think this book can be summarized in maybe a few pages, but i'll do it now.

1) Get a system that works FOR YOU - this invariably takes a long time as newbies have to go thru the sharks to find what really works. What i mean by works for you is this - know what kind of person you are and what your objectives are. No point having a scalping method if you cant watch the screen for prolonged periods of time. No point having a long term system if you get bored to tears waiting for a trade entry to materialize. Know who you are, know what you are looking for then educate your self to either find or develop a system which fits you.

2) Become, very, very skilled at using that system. Professionals excel at doing a few things, then building on them. They know when to employ their entries and exits and what types of market conditions their systems best operate in. The way you get that level of insight is through deep practice. Ideally on a simulator if you have one. Spend more time practicing and learning through an awesome simulator and expose yourself to as much market patterns as you can and you will begin to see when your system works best and when it doesn't. Know how to use what you have to the best of your ability then execute with cold efficiency. Work hard at this and you'll get to expert performance.

If you are looking for more, then read the books on my listmania (http://www.amazon.co.uk/Forex-Super-Trader/lm/R1A0DU4QO85D9K/ref=cm_srch_res_rpli_alt_1) - some of which are below
 
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Mr. Charts

Legendary member
7,367 1,184
Don't listen to emotion or gut feeling unless you are very, very experienced.
Trade on the evidence, not on emotion, wishing. hoping, praying even.
Now if you are very experienced you might have an inchoate idea to do (or more usually not do) something. That's just a consciously forgotten experience of an unusual situation rising from your subconscious.
 
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