Archives of “January 4, 2019” day

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Typical Symptoms of Ego-Tizing Trading

  
  Education
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  • Not putting in stops. The ego doesn’t want to be proven wrong.
  • Hesitating before putting on a trade. The ego wants reassurance before it begins.
  • Overtrading. The ego wants to prove itself big time.
  • Getting stuck in a trade. The ego has intertwined itself with a trade and is holding on for dear life. It cannot cut out. The ego doesn’t want to be wrong.
  • Adding to a losing trade. The ego digs its hole deeper in a massive effort to crawl out.
  • Grabbing a profit too soon. The ego wants a pat on the back.

HOW TO MAKE BETTER DECISIONS

  
Education, Video
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When you have the time make a decision to watch the following program on making better decisions.  You may find that you made the right decision to do so.
FROM THE INTRODUCTION:According to science: We are bad at making decisions. Our decisions are based on oversimplification, laziness and prejudice. And that’s assuming that we haven’t already been hijacked by our surroundings or led astray by our subconscious!
Featuring exclusive footage of experiments that show how our choices can be confounded by temperature, warped by post-rationalisation and even manipulated by the future, Horizon presents a guide to better decision making, and introduces you to Mathematician Garth Sundem, who is convinced that conclusions can best be reached using simple maths and a pencil!

Cutting your losses and going with the trend – emotionally

  
  Education
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There is the famous old adage that as a trader you should cut your losses short and let your winners run. 

The best are able to do this. 

BUT it’s a very easy thing to intellectualise and yet quite another thing to execute in the real world.  After all if it was so easy there wouldn’t be all the writers, books, blogs, tweets, coaches, mentors etc in the trading world.  They would be obsolete.

HOWEVER IT ALSO APPLIES TO LIFE AWAY FROM THE CHARTS.

The ego and subconscious are often key adversaries to us gaining flow in our lives and achieving abundance.  This is true in both trading and normal life.

If you are unwilling to accept you are wrong and move on it is all too easy to not keep your losses small.    (more…)

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