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Some highly recommended books

  #398 (permalink)

Sydney, NSW, Australia
Trading Experience: Intermediate
Platform: NinjaTrader with Jigsaw DOM
Favorite Futures: CL, 6E, ES, Piano
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Posts: 251 since Nov 2014
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Why we do what we do: understanding self-motivation (Edward L Deci).

Its about Intrinsic vs Extrinsic motivation (activity for the sake of activity, vs activity as a vehicle for results).

How the latter ironically produces decreased performance, decreased interest and can lead to burnout (i.e, it is often assumed
people will produce better results when "motivated" by a higher pay, prize etc), and can diminish intrinsic motivation.
Intrinsic motivation is linked to autonomy and individual choice, extrinsic motivation is perceived to be controlling/manipulative.
There's quite a bit more material in the book, these are the main ideas.

Good read, plenty of experimental evidence to back its claims. Reinforces why we should be process oriented and not "think about the money". I have been too focused on getting results and I realize it is burning me out. I remember first starting out, being introduced to the xtrader DOM and trying out various trading drills, it was really fun and enjoyable. There was no goal and ironically I was performing better than I have in the past few days. Trying to hit certain targets or "quotas", or fretting about losses, that has ground me down a lot and seriously impacted performance, so I'm taking a break and getting back at my roots.

Understanding yourself is just as important as understanding markets.

Last edited by TickedOff; August 22nd, 2015 at 09:48 AM.
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