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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
Hello Rahul

Hoping you are enjoying a very happy Christmas and holidays along with your family.

Talking about my system, I have a lot of confidence on it. I also keep an excel spreadsheet with statistics of almost two years on how the markets move and the probabilities for these moves according to my strategies and setups. In fact, I keep writing the statistics day after day as part of my daily activities of the analysis I perform after trading hours.

All this has allowed me to master my trading skills while trading on SIM.

What I think is that I still do not trust or I still do not have enough confidence of my execution of the system while trading live, because of emotional arousal that turn out into physical sensations like sudden increase in the heart beat rate, sensations on my throat, stomach, chest and even headaches sometimes when my trade is taking too long.

As Mark Douglas classifies the trading styles in mechanic, discretionary and intutive, I will say that my system is a discretionary one. So, in the system we analyze how the market is moving and how we think it will move next in order to enter the trades, more than entering a trade because of a mechanical setup.

When I am trading on SIM, I even take higher risks setting a larger stop loss and letting the maret makes their moves before going to my target and most of the times they work out. Whereas, when I am trading live, I trade more not to lose than to win, since I also try to diminsh the risks as much as possible and many times not allowing the market to complete their moves before taking off into the direction of the trade I entered.

Although I also have to admit, that even trading on SIM, my ego sometimes enters into scene and I sometimes get frustrated when things do not work out right away the way I planned.

I know that Rande ties the thoughts to archetypes and in that way he classifies the core beliefs we have and that the essential part is to strengthen the Warrior, the Sage, the Ruler, the Magician and to convert the immature Orpahn into a mature one.

The thing that I still do not know is which would be the best way exactly on how to strengthen those needed archetypes in order to form the proper trading committee, so that the inner critic and the adapted voice do not take the main seats on the trading committee?

Jorge

Jorge,
I want to apologize if I sound judgmental in any part of the below post. Reading you, I have been thru and still going thru lot of things you mentioned, these comments are from my own experience.

Jorge, you intellectually know the process in out in your head. From what you wrote, I can see that you thoroughly studied the material and have a very good understanding of the process. What we need is to know it by experience , have it in your experience, so that the knowing is complete and the change will be more profound and lasting.

From your posts, I understand you know a lot about emotions, the biological aspect and how to regulate them. But it seems like you are not using the skills when you need it the most


Quoting 
What I think is that I still do not trust or I still do not have enough confidence of my execution of the system while trading live, because of emotional arousal that turn out into physical sensations like sudden increase in the heart beat rate, sensations on my throat, stomach, chest and even headaches sometimes when my trade is taking too long.

I had the exact same experience before, especially a knot in my chest. I used to feel that heaviness and I feared the emotion. After I learn to regulate the emotions via deep breathing and Safeplace, I observed this feeling in a calm state. Here is what I found :

"I was in a hurry to get things done all the time, impatient to learn everything and accomplish things. Even a minor distraction will tick me off. I also observed that there was a fear of fear of the feeling itself"


There are two aspects to these thoughts, the dance between Inner Critic and Adapted voice. I am sure you know them well from Rande's book.

The point is, if you are feeling emotional, you need to regulate them to open the possibility of understanding them.
Promise yourself that you will keep a journal on deep breathing and safe place throughout your trading process each day.

I start with deep breathing and safeplace before I start the computer, as I evaluate the set up, entering trades, managing trades and while exiting trades. Trust me on this, this stuff really works with practice.

One thing I recommend is to use a Spirometer to enhance your deep breathing. I used to be at 3000 ml, now I max out 4000 ml and can stay there for over 5 seconds. Use it few times every day.

http://www.amazon.com/Cardinal-AirlifeTM-Volumetric-Incentive-Spirometer/dp/B0030CEUQU

Jorge, as I mentioned to you earlier, I am at a stage where I am working with Ruler, Sage, Caregiver and Warrior. So far things are looking good. I will give a more detailed feedback once I complete this in few months time.

Since you already completed "Mind Muscles" program, probably you have something there to regulate emotions and beliefs. What ever you choose put them into practice and have it in your experience.

There is an app on Android (free) and iOS (paid) called Mindfulness Bell which I have setup to ring every 5 minutes. This is a reminder for me to deep belly breathe and be mindful. https://play.google.com/store/apps/details?id=com.googlecode.mindbell&hl=en

I wish you a fantastic new year and may all these things materialize for you in the year ahead.
Rahul

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