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I'm currently reading The Charisma Myth, here is an excerpt from the book
"When our internal voice starts criticizing us, lashing out, it can feel like were under attack. Because our brain doesn't distinguish between imagination and reality, these internal attacks are perceived by our mind just as real, physical attack would be. and they can generate an automatic physical reaction known as the threat response or flight or fight response.
The effect of this activation are well known. Just as a zebra reacts to the stress of being chased by a lion, the human body shoots adrenaline and cortisol (stress hormones) though its veins and directs all its resources toward crucial functions; elevate heart rate and breathing rates, muscle reaction, vision acuity, and so forth. The body is no longer concerned with living ten more years, but with surviving ten more minutes. It shuts down non urgent functions such as muscle repair, digestion , and the immune system ,as well as "superfulous" functions such as cognitive reasoning, In other words because its not critical to survival, intelligent thinking gets shut down.
David Rock founder of the NeuroLeadership Institute, explains that "the threat response impairs analytic thinking, creative insight and problem solving," This kind of negativity doesn't just affect our actual performance, it also affects ... "
I think this is a key point as to why our performance is very different when trading sim to real trading results. The greater the urgency, the greater the stress, triggers the threat response and what follows is an increase in unfavorable outcomes.
Also the note on the relationship of stress and the immune system, from my own experience I think its very true.
@Brutus, that's so true. Of course this is where the psychology of trading comes into play. When we accept our potential for loss ahead of establishing a position then none of the "fear" should impact us in this way. Of course this is easier said than done, it takes a lot of practice to get to a point where the risk of loss doesn't promote fear.
HAVE other income (swingtrading, career, royalties, an EARNING wife) before daytrading live. Daytrade LIVE small enough that you couldn't care less. Daytrade part-time (2-3 hours max. per day). If you don't suceed after a reasonable amount of time; move on. The world needs less laborers--so do something else with your big bad brain--'cause you are smart enough to be a consistent daytrader, right?
There--I just saved thousands of lives. It is what I have to give.
I am not antisocial, as in, I don't like people. But I find that I live my life that way, just naturally.
When journaling no longer did the same thing for me, I stopped. But had created this habit of communicating, mostly online. To fill that void, facebook was adopted.
It is mostly crap. But, socializing is like that. Occassionally there is something like what I am borrowing from it tonight. posted by a longtime friend of mine and ex-girlfriend of my brother;
"In your travels from the surface, into the landscape underneath Her skirts, into body, into feeling, into form, you will hit those thicker places, those denser, stickier, not-so-pretty, heavier places. Guaranteed. Nevertheless this is when we will question if we are still on the right path, if we perhaps at some point took a wrong turn. We will clench our fists in entitled indignation reminding Her that this, this does not remotely feel like the holy ride we signed up for. Guaranteed. And then you realize that the return ticket you were clutching onto, just in case, will take you back to a place now too narrow to fit you in any longer, (those damn wings…) And you stop. And you breathe. And you know, once again, that there is nowhere to go but deeper into the thick of it all. ... (Chameli Ardagh)
It is not something that interests me any further than having seen it on facebook, but was very similar to describing a trading path.
Someone pm'd me today about recommending a mentor. I sent them to @Private Banker. They asked me for a good system. I said they do not exist.
That is dead on. What it lacks, is how to correct that in trading.
What will correct that, is not just knowledge, but understanding.
If you have confidence, it feels more comfortable. If you feel comfortable, all that stuff goes away. If it comes back, you are doing something wrong.
And that is not meant to say it will not happen, or that is is something to be ashamed of. If there is one thing I gained from such balls out journaling, it is that by admitting you failed, over and over, makes it "normal". The drama associated dissipates.
What if, for every market move, you understood something about the "why"? What if, you only traded when you understood? What if, when you did, you also had no loss of confidence? What if, when you were wrong, you knew it had nothing to do with your understanding?
It takes, experiencing living from the unknown. Think, in some extreme geographical situation where you are forced to survive. Not on tv, not with some emergency helicopter... You vs whatever. Then what?
No, I removed that sill emoticon. This is not about emoticons.
You will win or lose. Period. That is not how we, in the US, understand how life works. And so we try so hard to make it fit some irrevelant expectation. For infinity, for most.
