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Trading psychology articles
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Trading psychology articles

  #61 (permalink)
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bobwest View Post
(Not only do I do it too, I'm doing it now. It is very hard/impossible to get out of this paradigm, since we're always in it.)

Just re-reading this quote, and I understand what you're saying, but my contention is that getting out of this paradigm is part of personal growth: when you accept that your view of the world is just but one of many possible views and not everyone may share your opinion you start being at peace with it.

The really tough part, sometimes, is understanding each other, i.e. ensuring that, before disagreeing on something, we actually understand what we are disagreeing about!

This may be harder than it sounds.

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  #62 (permalink)
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xplorer View Post

The really tough part, sometimes, is understanding each other, i.e. ensuring that, before disagreeing on something, we actually understand what we are disagreeing about!

Nothing in education is so astonishing as the amount of ignorance it accumulates in the form of inert facts - Henry Brooks Adams

The issue I have with an opinion (as I proceed to give you mine) is that most people just parrot what they think sounds right to the audience. Its not their own truth, but rather how the message will be perceived.
In terms of trading, we are all whores. A person will do anything and everything to find something that works. Then whatever it is that was stumbled upon by sheer coincidence, is packaged and structured into something that looks more complex than it actually is. All in an effort to make it look like they were in control the entire time and their success was deliberate and a foregone conclusion due to X, Y and Z.

Tap in says it from his own truth and not for the audience:

Quoting 
The problem was that I did not (and do not) have the talent or skill to trade this way, so I found myself failing, often, and never really getting anywhere.

....then he eventually figured something out and:


Quoting 
That's all I was capable of doing. I didn't like it, and I continue to work to get better, but that was it


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  #63 (permalink)
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xplorer View Post
Just re-reading this quote, and I understand what you're saying, but my contention is that getting out of this paradigm is part of personal growth: when you accept that your view of the world is just but one of many possible views and not everyone may share your opinion you start being at peace with it.

Well, yeah.

A certain amount of irony and self-detachment is a good thing when you're trying to see how we humans do things.... because no matter what we do, we are still the same human beings and still operate the same way.

There's some saying or another, I think it's from one of the traditions of India, but I'm not sure, that the eye can't see itself. But if you're going to see how you actually see things, this is kind of what you have to do. Turning yourself around to watch yourself is a hard task. Seeing that you are going to use the same means of "seeing" things is a little paradoxical. How can that be possible? It's sort of a pulling yourself up by your bootstraps thing.

I don't want to get over-involved or pompous here . (Maybe a little.) It's just a matter of being aware of the paradigm. You don't transcend it by rejecting it. You need to understand it from the inside, and then you can be out of it and look around. But your feet are always going to be right in the middle of it. It's what we do.

Which doesn't mean it's not helpful to know. And knowing it, we can relate to others with some more comprehension, and understand ourselves better, too. That's a good deal.

Bob.

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  #64 (permalink)
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Grantx View Post
In terms of trading, we are all whores.

I prefer to think that we were whores when we had to work for a paycheck, maybe that's just me

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  #65 (permalink)
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Grantx View Post
In terms of trading, we are all whores.


xplorer View Post
I prefer to think that we were whores when we had to work for a paycheck..

Now I'm really confused, I was hoping to turn 'Pro'.

One man's terrorist is indeed another man's freedom fighter. We all need to realize that we are on the 'wrong' side just as often as we are on the 'right' side, no matter how hard the automatic forgetting of history makes it. We should spend as much time reading history as we do looking at charts, then put it all to one side and start at the right hand edge of the market and life in 'neutral'.

Sadly, acceptance, understanding and inclusion always get harder in bear markets, I do not have a good prognosis for the next ten years of hugging and sharing.

Travel Well
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  #66 (permalink)
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Very wise words @ratfink.

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  #67 (permalink)
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Just leaving this here as placeholder, courtesy of Zach.


Zachary Standley View Post
"The 10 stages of meditation": The 10 stages of meditation - an overview

Like usual, I meditated this morning and after I finished, I wondered about the possible levels of meditation. I thought, what are the agreed upon subjective differences between meditators in terms of their own experiences, and what do master meditators experience? I looked up the stages of meditation in google and found that article I pasted above, and according to "Culadasa" (I have no idea who that is) there's 10 stages. It turns out that I've only reached and that I'm currently in stage 3! I won't list the stages in this post as it would be redundant and a waste of time, but I thought it would be useful to some of you that are curious about meditation.


I think viewing meditation as made of discrete steps (such as the ones described in the article above) is cool.

Maybe it's just because I like videogames but levelling up is always enticing, there is a clear sense of achievement and progress.

I have read a few small books on meditation but this is the first time I have come across these 10 stages definition.

Something to consider - thanks Zach.

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  #68 (permalink)
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Now I know why losses turn me into an imbecile

Apparently, there is scientific proof that a scarcity mindset (e.g. not having enough money, sustaining losses, being in debt or just the perception of the above) has an impact on our cognitive abilities.

From The Fear of Losing It All - Why Money Problems Cause So Much Stress


Quoting 
According to several studies, people’s brains function differently when they perceive or anticipate scarcity. More specifically, people get dumber: One study found that when subjects simply thought about a big bill that would strain their finances, their cognitive abilities plummeted by an average of 14 IQ points — a similar deficit to pulling an all-nighter.

“When you experience the feeling of not having enough, your concerns with money consume your cognitive resources,” says Jiaying Zhao, a psychologist who studies scarcity at the University of British Columbia. “As a result, you’re no longer able to perform at the same level that you would otherwise.” This fight-or-flight response affects people of all socioeconomic levels, she adds. “Scarcity is inherently subjective. Your perception of how much you have versus how much you need is different from your objective level of income. A rich person can still experience scarcity if they feel they can’t juggle their demands.”

and Dealing With The Mental Burden Of Debt


Quoting 
In a study published in the Proceedings of the National Academy of Sciences, researchers in Singapore have discovered that debt reduction improves the psychological and cognitive performance of the poor.

The implication being, if you are either in debt or are in a scarcity mindset, you may experience cognitive strain.


Quoting 
The researchers found that the participants experienced less anxiety, displayed improved cognitive functioning and could make better financial decisions three months after receiving debt relief. Between two participants receiving the same amount of debt relief, the participant with more debt accounts eliminated showed more psychological and cognitive improvements.

These findings confirm that being chronically in debt impairs psychological functioning and decision-making. The findings also imply that people view each debt as a separate ‘mental account’ and being ‘in the red’ in many debt accounts is psychologically painful.

Thus, thinking about these accounts consumes mental resources, increases anxiety and worsens cognitive performance. This psychological impact may prevent the poor from making the right decisions to get out of poverty, further contributing to the poverty trap, said the researchers.


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