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Trading Psychology and How The Mind Works (I)


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Trading Psychology and How The Mind Works (I)

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  #21 (permalink)
reallypo
Colorado Springs Colo/USA
 
 
Posts: 8 since Dec 2017
Thanks: 0 given, 3 received

No, I have not worked with him yet. The cost is very high so I am trying to find someone who has worked with him for a reference. I will hop over to the other thread to read your input.

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  #22 (permalink)
WmAFoster
Eugene, OR. USA
 
 
Posts: 27 since Jun 2019
Thanks: 5 given, 33 received


jstnbrg View Post
A friend just pointed me to an interesting and highly pertinent article in the New York Times Magazine online. The title is "Do You Suffer from Decision Fatigue?" https://www.nytimes.com/2011/08/21/magazine/do-you-suffer-from-decision-fatigue.html?_r=1&pagewanted=all%3Fsrc%3Dtp&smid=fb-share

I traded in the pits at the CBOT for 16 years, but the first three years were difficult for me. I did make money in each of the first three years, but not enough to grow as a trader and barely enough to cover my living and trading expenses. One big problem that I had was that I would often do well in the morning, but give back most or all of my day later on. I eventually decided to trade for a set goal of 4 ticks/unit of size per day, and then leave even if I had only been on the floor for 10 minutes, on the theory that with such a modest goal I could take only the safest trades and still make enough money to grow, and that going home a winner every day was more important than catching all the action. After I made that decision, I didn't have a losing month for 6 1/2 years. Perhaps lack of decision fatigue is why.

This simple idea has made a huge difference to my trading.............
This video also brings this idea out and that you don't need to catch those big trends to make really good money also illustrated in the spreadsheet image.


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  #23 (permalink)
GH0ST 0P
Columbus
 
 
Posts: 10 since Oct 2019
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Hemmo View Post
Reallypo,

After completing the intense upfront homework, I had the first session with Steve Present last week, which was great.

There is an existing futures.io thread in relation to Steve and his website ... Trading Psychology ...



That is where I am planning to provide some feedback on the experience for other futures.io members to consider approaching Steve Present for their trading psychology issues. It was these contributor's comments that made me feel comfortable in outlaying the money to work with Steve.

[Mike, I feel like I now have something to contribute to futures.io!]

Reallypo, have you worked with Steve? How many sessions? Do you feel that the impressive changes have remained permanent?

If you don't mind sharing, roughly how much upfront does Steve charge?

Sent using the futures.io mobile app

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  #24 (permalink)
Symple
Zuerich / Switzerland
 
 
Posts: 157 since Sep 2021
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PhillyFanatic View Post
Is it easier to trade with a $100,000 account or $10,000? Does it change how you approach the market mentally?

@PhillyFanatic

It is in the final stage all about risk and money management, regardless how good you are in what ever in trading. You can read Wizard Books and Wizard Comments on and on, at the end this will be the point as soon as you make real money with trading. Even in today's algo trading, the risk is more or less the first topic to look at.

Symple

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  #25 (permalink)
psanford
Huntsville, AL
 
 
Posts: 1 since Sep 2015
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Any suggestions on how to get into the right midset?

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  #26 (permalink)
Phoenixoboros
Paris France
 
 
Posts: 13 since Feb 2021
Thanks: 20 given, 5 received

Amygdala hijack is a trader's ennemy.

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