Why Smart People Are Actually Dumb
|June 25th, 2012, 06:13 PM||#21 (permalink)|
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: Fx
Posts: 76 since Mar 2012
Thanks: 24 given, 42 received
The challenge for traders is that many of our most intractable faults are generated by our automatic non-conscious (system1). The second part of this is that the shorter the time period for your decisions and the greater the emotionality generated by the risk you take (financial, wrong, failure etc) the harder it is for system 2 to overcome system 1 consistently.
The good news is that your automatic unconscious can be retrained ... and when unconscious competence is achieved it will serve you better. Some books that explore and address these areas.
Strangers to Ourselves: Discovering the Adaptive Unconsciousness
The Mental Game of Poker: Prove Strategies for Improving Tilt Control ....
The Willpower Instinct: How Self Control Works, Why it ....
The Happiness Trap and/or
You are Not Your Brain (or you are not your adaptive unconsciousness really)