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TST Combine Journal

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  #441 (permalink)
Point Roberts, WA, USA
 
Experience: Advanced
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Silver Dragon View Post
@indextrader7

the Suggestion:
It was not till I started detailing every trade did I finally start seeing a pattern in my trading that I could write out on paper.

1.After every trade I stop to post to my journal with charts and notes about the trade.
This does a couple of things (at least for me) it forced me to analyze the trade and
gets me away from the market and keeps me from making another trade to close to the last one.
Most of the time these were ill advised trades based on the outcome of the last trade.

2. look at larger time frames to get a reference on where the market is going.
I started doing a analysis every morning of where I think the market is headed.

I think these are good points.

If a person doesn't review their trades they have nothing to base improvement on
-both finding the best trades and why
and the worst trades and why.
Without this, as Robert says,there is nothing to base a plan on.

The break between trades is important. (especially after a loser)
It helps clear the decks mentally, and
stop revenge trading.

Good luck on your next combine.

..........
peace, love and joy to you
.........
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  #442 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Disgust Yourself: A Framework for Rapid Behavior Change

Brett N. Steenbarger, Ph.D.

Brett Steenbarger Trading Psychology



A while back, I posted on the topic of "brief therapy for the mentally well". Brief therapies are collections of methods designed to promote rapid changes in patterns of thinking, feeling, and acting. Much of what I do as a psychologist is help traders become their own trading coaches by applying brief techniques to their own situations. Some resources for learning brief change techniques can be found in this post and in my two trading books.

People who write about psychology (but who aren't psychologists) often assert that behaviors change through positive thinking, goal setting, and the like. One would think that the annual experience of broken New Years' resolutions would put an end to such fantasies, but apparently not. The idea that we can shape ourselves by willing self-improvement seems unusually impervious to lack of research evidence and much personal experience to the contrary.

So how do people control their behavior and sustain the motivation to change themselves?

Let's look at a very unusual example: the anorexic patient. Anorexic people greatly restrict their food intake, sometimes to the point of death. They frequently have a distorted body image and believe themselves to be overweight, even as they are literally wasting away.

Clearly anorexia is a serious psychiatric disorder, but it is an interesting motivational phenomenon. Here is an inborn, hard-wired behavior pattern--eating--that is overridden by a social motivation: the desire to not be fat. So all-encompassing is this motivation that it often proves to be resistant to efforts at treatment, medical as well as psychological.

What is the basis for the anorexic person's motivation? Not positive self-statements and goal-setting, that's for sure! Rather, the anorexic individual is motivated by disgust. Quite literally, the patient is disgusted by anything that feels or looks overweight--and that disgust is so strong that it keeps food at bay.

Daniel Nettle's recent book Happiness: The Science Behind Your Smile makes the important point that disgust is a much stronger emotion than happiness. We tend to habituate to happiness: what makes us happy (a new car, seeing an old friend), after a while loses its ability to bring overt joy. Disgust, however, such as the sensation of eating food that has gone bad, stays with us for quite a while. What disgusts us now--for instance, sitting on a bus next to a person who hasn't bathed in weeks--will most likely produce equal disgust should it happen in the future. Indeed, like the anorexic, we might even avoid buses altogether just to prevent a repeat experience of disgust.

There are solid evolutionary reasons for this, Nettle notes. The things that would disgust primitive man--tainted food, unsanitary conditions--are directly related to his survival. If it took many learning trials to become averse to such situations, humans might not have survived their learning curves. By hard-wiring disgust, learning, and motivation, nature provided the opportunity for one-trial learning: the briefest of all therapies.

When we examine many of the most dramatic examples of personal change, we find disgust as a common element. What gets a person to finally stick with a diet is reaching the point of disgust with his or her appearance, energy level, etc. Similarly, smokers and alcoholics reach the point where the consequences of their behaviors disgust them, whether those consequences are smelling bad, becoming short of breath, or losing jobs or driver's licenses. "I can't stand living this way," is a frequent refrain among therapy clients who are ready for change.

I personally reached the point of sticking with my stop loss levels when I became disgusted by large losses that ate into days' and weeks' worth of profits. Similarly, I became better at defining and acting upon my profit targets when I became disgusted with situations in which I had a nice profit in hand and let it completely reverse to breakeven. And letting winners turn into losers? That became *so* disgusting for me that I set my exits to ensure it won't happen again.

Want a reliable behavioral method for ensuring that you follow your trading plans? Simple! Hook up your trade station to an IV drip going into your arm. Whenever you violate your plans, the drip would release a small amount of ipecac extract to induce violent nausea. Very quickly, the association between the trading behavior and the nausea would lead you to anticipate negative consequences any time you broke your rules. An anticipatory disgust response, like that of primitive man and tainted meat, would keep you from doing the wrong thing. Permanently.

There actually is a treatment similar to the imaginary example above, and it's called aversion therapy. Taking a drug that makes an alcoholic person sick whenever they drink ends up being one of the most effective ways of dealing with the addiction. Positive intentions and self-help exercises don't nearly possess the force of gut physical disgust.

If disgust can turn eating into a behavior to be avoided and an alcoholic's drinking into a thing of the past, perhaps it can be leveraged into a brief treatment for trading problems. The key is turning common wisdom on its head. Instead of trying to *make* yourself do the right things, fill your mind with thoughts and images of how disgusting you are when you do the wrong things. Just as anorexics spend hours in front of mirrors berating themselves for their looks, you can create your own metaphorical mirrors and become emotionally connected to the wasted effort and lost money from poor trading practices.

We are most apt to change a pattern once we become truly disgusted by it. Would you continue to do business with someone who violated your contract with him and took your money? No, you'd become so disgusted with such a dishonest individual that you'd shun him altogether.

Well, that person is you when your own patterns violate your contract with yourself and cause you to lose money. Once you become truly disgusted with your own patterns, you'll shun them altogether. And that's the briefest--and most effective--of therapies.

 
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  #443 (permalink)
San Diego, California
 
Experience: Intermediate
Platform: NinjaTrader, Felton
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Hapster's Avatar
 
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indextrader7 View Post
Disgust Yourself: A Framework for Rapid Behavior Change

Brett N. Steenbarger, Ph.D.

Brett Steenbarger Trading Psychology



A while back, I posted on the topic of "brief therapy for the mentally well". Brief therapies are collections of methods designed to promote rapid changes in patterns of thinking, feeling, and acting. Much of what I do as a psychologist is help traders become their own trading coaches by applying brief techniques to their own situations. Some resources for learning brief change techniques can be found in this post and in my two trading books.

People who write about psychology (but who aren't psychologists) often assert that behaviors change through positive thinking, goal setting, and the like. One would think that the annual experience of broken New Years' resolutions would put an end to such fantasies, but apparently not. The idea that we can shape ourselves by willing self-improvement seems unusually impervious to lack of research evidence and much personal experience to the contrary.

So how do people control their behavior and sustain the motivation to change themselves?

Let's look at a very unusual example: the anorexic patient. Anorexic people greatly restrict their food intake, sometimes to the point of death. They frequently have a distorted body image and believe themselves to be overweight, even as they are literally wasting away.

Clearly anorexia is a serious psychiatric disorder, but it is an interesting motivational phenomenon. Here is an inborn, hard-wired behavior pattern--eating--that is overridden by a social motivation: the desire to not be fat. So all-encompassing is this motivation that it often proves to be resistant to efforts at treatment, medical as well as psychological.

What is the basis for the anorexic person's motivation? Not positive self-statements and goal-setting, that's for sure! Rather, the anorexic individual is motivated by disgust. Quite literally, the patient is disgusted by anything that feels or looks overweight--and that disgust is so strong that it keeps food at bay.

Daniel Nettle's recent book Happiness: The Science Behind Your Smile makes the important point that disgust is a much stronger emotion than happiness. We tend to habituate to happiness: what makes us happy (a new car, seeing an old friend), after a while loses its ability to bring overt joy. Disgust, however, such as the sensation of eating food that has gone bad, stays with us for quite a while. What disgusts us now--for instance, sitting on a bus next to a person who hasn't bathed in weeks--will most likely produce equal disgust should it happen in the future. Indeed, like the anorexic, we might even avoid buses altogether just to prevent a repeat experience of disgust.

There are solid evolutionary reasons for this, Nettle notes. The things that would disgust primitive man--tainted food, unsanitary conditions--are directly related to his survival. If it took many learning trials to become averse to such situations, humans might not have survived their learning curves. By hard-wiring disgust, learning, and motivation, nature provided the opportunity for one-trial learning: the briefest of all therapies.

When we examine many of the most dramatic examples of personal change, we find disgust as a common element. What gets a person to finally stick with a diet is reaching the point of disgust with his or her appearance, energy level, etc. Similarly, smokers and alcoholics reach the point where the consequences of their behaviors disgust them, whether those consequences are smelling bad, becoming short of breath, or losing jobs or driver's licenses. "I can't stand living this way," is a frequent refrain among therapy clients who are ready for change.

I personally reached the point of sticking with my stop loss levels when I became disgusted by large losses that ate into days' and weeks' worth of profits. Similarly, I became better at defining and acting upon my profit targets when I became disgusted with situations in which I had a nice profit in hand and let it completely reverse to breakeven. And letting winners turn into losers? That became *so* disgusting for me that I set my exits to ensure it won't happen again.

Want a reliable behavioral method for ensuring that you follow your trading plans? Simple! Hook up your trade station to an IV drip going into your arm. Whenever you violate your plans, the drip would release a small amount of ipecac extract to induce violent nausea. Very quickly, the association between the trading behavior and the nausea would lead you to anticipate negative consequences any time you broke your rules. An anticipatory disgust response, like that of primitive man and tainted meat, would keep you from doing the wrong thing. Permanently.

There actually is a treatment similar to the imaginary example above, and it's called aversion therapy. Taking a drug that makes an alcoholic person sick whenever they drink ends up being one of the most effective ways of dealing with the addiction. Positive intentions and self-help exercises don't nearly possess the force of gut physical disgust.

If disgust can turn eating into a behavior to be avoided and an alcoholic's drinking into a thing of the past, perhaps it can be leveraged into a brief treatment for trading problems. The key is turning common wisdom on its head. Instead of trying to *make* yourself do the right things, fill your mind with thoughts and images of how disgusting you are when you do the wrong things. Just as anorexics spend hours in front of mirrors berating themselves for their looks, you can create your own metaphorical mirrors and become emotionally connected to the wasted effort and lost money from poor trading practices.

We are most apt to change a pattern once we become truly disgusted by it. Would you continue to do business with someone who violated your contract with him and took your money? No, you'd become so disgusted with such a dishonest individual that you'd shun him altogether.

Well, that person is you when your own patterns violate your contract with yourself and cause you to lose money. Once you become truly disgusted with your own patterns, you'll shun them altogether. And that's the briefest--and most effective--of therapies.

Just as that saying goes about the market being able to move farther than our capital can last (or however that quote goes), let's just hope that our capital can outlast our tolerance for disgust LOL....

Hap

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  #444 (permalink)
Legendary Market Wizard
Cancun, Mexico
 
Experience: Advanced
Trading: Stock Index Futures / CFDs
 
Anagami's Avatar
 
Posts: 860 since Dec 2010
Thanks: 598 given, 1,886 received


indextrader7 View Post
Disgust Yourself: A Framework for Rapid Behavior Change

Brett N. Steenbarger, Ph.D.

Brett Steenbarger Trading Psychology



A while back, I posted on the topic of "brief therapy for the mentally well". Brief therapies are collections of methods designed to promote rapid changes in patterns of thinking, feeling, and acting. Much of what I do as a psychologist is help traders become their own trading coaches by applying brief techniques to their own situations. Some resources for learning brief change techniques can be found in this post and in my two trading books.

People who write about psychology (but who aren't psychologists) often assert that behaviors change through positive thinking, goal setting, and the like. One would think that the annual experience of broken New Years' resolutions would put an end to such fantasies, but apparently not. The idea that we can shape ourselves by willing self-improvement seems unusually impervious to lack of research evidence and much personal experience to the contrary.

So how do people control their behavior and sustain the motivation to change themselves?

Let's look at a very unusual example: the anorexic patient. Anorexic people greatly restrict their food intake, sometimes to the point of death. They frequently have a distorted body image and believe themselves to be overweight, even as they are literally wasting away.

Clearly anorexia is a serious psychiatric disorder, but it is an interesting motivational phenomenon. Here is an inborn, hard-wired behavior pattern--eating--that is overridden by a social motivation: the desire to not be fat. So all-encompassing is this motivation that it often proves to be resistant to efforts at treatment, medical as well as psychological.

What is the basis for the anorexic person's motivation? Not positive self-statements and goal-setting, that's for sure! Rather, the anorexic individual is motivated by disgust. Quite literally, the patient is disgusted by anything that feels or looks overweight--and that disgust is so strong that it keeps food at bay.

Daniel Nettle's recent book Happiness: The Science Behind Your Smile makes the important point that disgust is a much stronger emotion than happiness. We tend to habituate to happiness: what makes us happy (a new car, seeing an old friend), after a while loses its ability to bring overt joy. Disgust, however, such as the sensation of eating food that has gone bad, stays with us for quite a while. What disgusts us now--for instance, sitting on a bus next to a person who hasn't bathed in weeks--will most likely produce equal disgust should it happen in the future. Indeed, like the anorexic, we might even avoid buses altogether just to prevent a repeat experience of disgust.

There are solid evolutionary reasons for this, Nettle notes. The things that would disgust primitive man--tainted food, unsanitary conditions--are directly related to his survival. If it took many learning trials to become averse to such situations, humans might not have survived their learning curves. By hard-wiring disgust, learning, and motivation, nature provided the opportunity for one-trial learning: the briefest of all therapies.

When we examine many of the most dramatic examples of personal change, we find disgust as a common element. What gets a person to finally stick with a diet is reaching the point of disgust with his or her appearance, energy level, etc. Similarly, smokers and alcoholics reach the point where the consequences of their behaviors disgust them, whether those consequences are smelling bad, becoming short of breath, or losing jobs or driver's licenses. "I can't stand living this way," is a frequent refrain among therapy clients who are ready for change.

I personally reached the point of sticking with my stop loss levels when I became disgusted by large losses that ate into days' and weeks' worth of profits. Similarly, I became better at defining and acting upon my profit targets when I became disgusted with situations in which I had a nice profit in hand and let it completely reverse to breakeven. And letting winners turn into losers? That became *so* disgusting for me that I set my exits to ensure it won't happen again.

Want a reliable behavioral method for ensuring that you follow your trading plans? Simple! Hook up your trade station to an IV drip going into your arm. Whenever you violate your plans, the drip would release a small amount of ipecac extract to induce violent nausea. Very quickly, the association between the trading behavior and the nausea would lead you to anticipate negative consequences any time you broke your rules. An anticipatory disgust response, like that of primitive man and tainted meat, would keep you from doing the wrong thing. Permanently.

There actually is a treatment similar to the imaginary example above, and it's called aversion therapy. Taking a drug that makes an alcoholic person sick whenever they drink ends up being one of the most effective ways of dealing with the addiction. Positive intentions and self-help exercises don't nearly possess the force of gut physical disgust.

If disgust can turn eating into a behavior to be avoided and an alcoholic's drinking into a thing of the past, perhaps it can be leveraged into a brief treatment for trading problems. The key is turning common wisdom on its head. Instead of trying to *make* yourself do the right things, fill your mind with thoughts and images of how disgusting you are when you do the wrong things. Just as anorexics spend hours in front of mirrors berating themselves for their looks, you can create your own metaphorical mirrors and become emotionally connected to the wasted effort and lost money from poor trading practices.

We are most apt to change a pattern once we become truly disgusted by it. Would you continue to do business with someone who violated your contract with him and took your money? No, you'd become so disgusted with such a dishonest individual that you'd shun him altogether.

Well, that person is you when your own patterns violate your contract with yourself and cause you to lose money. Once you become truly disgusted with your own patterns, you'll shun them altogether. And that's the briefest--and most effective--of therapies.

Brilliant. Ideally, we want to make a change at the source... but behaviorism is faster when you need to do something right now.

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
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  #445 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

When I look at my MAE/MFE chart from my trading on Friday, it really shows how, although a losing day, it was just a great trading day. Risk managed perfectly. Despite being on the wrong side of the best trades most of the day, and getting zero runners, it shows this beautifully.



Despite all the pain lately, I can't tell you how good I feel about my trading currently.

I'm learning from better traders than myself how to incorporate the bigger picture into things.

I'm growing my self-awareness.

I've learned that I have been trading with major, major flaws in regards to 1) trading without a real plan, 2) trading without a real plan, ha. From this major problem stems SUB-ISSUES a) excessive risk taking since there is no real risk plan, b) whim trades, c) revenge trades, and d) times of "i've lost how to trade". Having a trading plan and risk plan within that give me something to lean on, something to fall back on.

Feeling good about things, despite the discomfort and pain that it takes to uncover the flaws.

Boy, it's IMPOSSIBLE to learn something until you are READY TO LEARN IT. Learning that more and more every day.

 
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  #446 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Well, I was away from the desk today helping my dad lay hardwood floors. I'll be trading tomorrow (starting combine 3)...with a sore back! ha

 
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  #447 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Combine 3 starts today.

TRADING A PLAN this combine.

Things are bullish from my view.

We've now broken above the consolidation/bracket area on my daily charts (which was expected since my last trading day Friday did not continue down as expected). Yesterday traded down and retested the bracket low perfectly.




Overnight action held price above yesterday's value area, and it looks like we'll open above it too.

Initial expectation is to get some type of responsive selling, giving a pullback to a key area for a long.

Levels I'll be watching for long entries:

1558.50 - Daily bracket area high

1556-1557 - Previous value area high, prev close, yesterday's VPOC.

A few other minor ones, but per this plan of getting long on a retracement, this are the main ones I'm watching.

If the bracket, and shortly thereafter at 56-57, do not support price, my bias will most likely switch to short/rotational.

Edit: Looks like that 8am news may have left those levels in the dust. We'll see!

 
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  #448 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

My T4 data during this mini flash crash was ABSOLUTE CRAP.

My live account with S5 (OEC data) was perfect.

I was trying to get long T4/ combine account once I found out it was rumor... and it absolutely wouldn't accept my orders.

 
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  #449 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

The T4 feed




and the S5/OEC feed


Days like this, you learn which data feed holds up its end of the bargain.

 
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  #450 (permalink)
Denver, CO
 
Experience: Intermediate
Platform: T4/TOS
Trading: ES
 
Posts: 110 since Jun 2012
Thanks: 71 given, 91 received



indextrader7 View Post
The T4 feed




and the S5/OEC feed


Days like this, you learn which data feed holds up its end of the bargain.

Wow, that's a big difference!

Plan your trade, trade your plan.
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