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Rande Howell's Material Psychology (www.tradersstateofmind.com)

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Elite Member
milpitas, ca, usa
 
Futures Experience: Intermediate
Platform: Tradestation
Broker/Data: Tradestation, Ameritrade
Favorite Futures: ES, Gold, 10 Yr
 
rahulgopi's Avatar
 
Posts: 1,634 since Feb 2014
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jgomez74 View Post
Thank you very much Rahul for your post. I finished reading Randeīs book and I also have watched some of his webinars.
Iīve liked Randes approach since I think it is easy to understand.

I think every new trader has felt fear when trading live, and that can be the difference between becoming a professional trader and trading for a living and a person who quits. In order for a person to trade live, profitable and consistently he needs to conquer fear and to engage in a proboability mindset managing risk and not trading not to lose.

I understand the steps are as follows:
1. Emotional regulation so that fear and emotions do not hijack you rational thinking.
2. Mindfulness so that you identify your thougts, feelings and emotions which are expressions of your beliefs. Through Mindfulness we can know what are our beliefs about uncertainty, and we can know what beliefs are the ones that are holding us back, so that we can face them and change them.
3. The belief system would be change through the acknowledgment that our thoughts are not us, but itīs only a representation of the way our brain was wired according to the circumstances we faced since we were born or even before since we were inside of the womb of our mothers. Once we accept this, we can also accept the fact that our belief system can be changed for other that help us better for trading.
4. The belief system can be changed through the inborn but underdeveloped archetypes needed for correct trading, specially the Ruler, the Caregiver, the Warrior, the Sage, the Magician, and the mature Orphan. Once developed they can form the proper trading committee that can take us to a successful trading.

Here the question is how to develop those inborn archetypes that every person already has in the deepest of the self. Rande mentions two methods: symbolic representations and memory enrichment.

In my case my main problem is exactly with managing uncertainty. My main fears are fear to lose and fear to be wrong, I guess those are the most common fears in every trader.


So, What tips could you Rahul give us to develop those needed archetypes and how to manage them once we are trading? I understand this is a process that each person must engage by its own and that there are not magic formulas, but I do not know if you could tell us the steps to pefrorm this process of archetype developing or some exercises we can peform?

Thanks in advance

Jorge

Jorge,
your understanding is correct. Once you understand the biological aspect of emotions, how emotions determines the state of mind you think from, how thinking determines the possibilities and possibilities determines your actions. Every emotions have a breathing signature and emotion cannot be maintained unless you maintain the breathing. IF you record yourself while trading and look at the places where you are fearful, you will notice how you hold your breath or do shallow breathing. it is a fun thing to watch . If you have read "Relaxation Response" , you will notice that emotions can be regulated by changing the breathing, using deep belly breathing.

Since you have already read the book and understood the concepts, you may want to put that into practice.

Choosing this route will require dedication and commitment, with breathing and developing Mindfulness. Once you have this skills it will open the door for observing the beliefs and altering them. Mindfulness is a wonderful thing to have, it will set you free from all the mindless drama you will get involved with, in life and trading.

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