Andrew Menaker Trading Psychology - futures io
futures io futures trading



Andrew Menaker Trading Psychology


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one DarkPoolTrading with 4 posts (13 thanks)
    2. looks_two trendisyourfriend with 3 posts (12 thanks)
    3. looks_3 futuretrader with 3 posts (8 thanks)
    4. looks_4 traveller with 2 posts (3 thanks)
      Best Posters
    1. looks_one Surly with 5 thanks per post
    2. looks_two trendisyourfriend with 4 thanks per post
    3. looks_3 DarkPoolTrading with 3.3 thanks per post
    4. looks_4 futuretrader with 2.7 thanks per post
    1. trending_up 10,205 views
    2. thumb_up 46 thanks given
    3. group 11 followers
    1. forum 20 posts
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Andrew Menaker Trading Psychology

(login for full post details)
  #1 (permalink)
Como Italy
 
Experience: Intermediate
Platform: Ninjatrader, customized
Trading: ES
 
Posts: 526 since Feb 2010
Thanks: 471 given, 640 received

There's a new free webinar by Andrew Menaker available here:

Trading Psychology Trading Session: The Missing Piece to the Trading Puzzle - You! - Trader Kingdom

I've seen several of his webinars now, and they are all very good. I think this one is the best summary.

Started this thread Reply With Quote
The following 4 users say Thank You to futuretrader for this post:

Journal Challenge February 2021 results (so far):
Competing for $1500 in prizes from Topstep
looks_oneSBtrader82 's Trading Journalby SBtrader82
(170 thanks from 31 posts)
looks_twoJust BEING a Trader: Letting Go!!by iqgod
(116 thanks from 33 posts)
looks_3Wisdom is Emptinessby Mtype
(68 thanks from 25 posts)
looks_4Deetee’s DAX Trading Journal (time based)by Deetee
(31 thanks from 17 posts)
looks_5Journal for peanuts1956by peanuts1956
(23 thanks from 13 posts)
 
 
(login for full post details)
  #3 (permalink)
Market Wizard
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker: AMP/CQG
Trading: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,978 since Oct 2009
Thanks: 3,656 given, 5,118 received


Thanks for posting the link. I think we all strive to minimize the level of uncertainty around our analysis but in the end it's a futile quest. Once we embrace it we look at markets with a new perspective and horizon. When i started trading i was looking for confirmation before placing a trade nowadays i know this confirmation element is not necessary and can even be detrimental. It has changed the way i look at things even my own strategy. When you no longer need 'confirmation' because you know the uncertainty will always be present you become free to look at price action in a different way and simplify your approach. I'll watch this video later on today.

Reply With Quote
The following 8 users say Thank You to trendisyourfriend for this post:
 
(login for full post details)
  #4 (permalink)
Vancouver, Canada
 
Experience: Beginner
Platform: SC
Trading: Guitar
 
traveller's Avatar
 
Posts: 118 since Mar 2012
Thanks: 222 given, 181 received


trendisyourfriend View Post
Thanks for posting the link. I think we all strive to minimize the level of uncertainty around our analysis but in the end it's a futile quest. Once we embrace it we look at markets with a new perspective and horizon. When i started trading i was looking for confirmation before placing a trade nowadays i know this confirmation element is not necessary and can even be detrimental. It has changed the way i look at things even my own strategy. When you no longer need 'confirmation' because you know the uncertainty will always be present you become free to look at price action in a different way and simplify your approach. I'll watch this video later on today.

Wow this is a pretty powerful statement. In my own trading I use a system of waiting for demand or supply to show up in strength on one side or another, before entering- Im not far from the bottom of a push but I still wait for some confirming action. It would be great if you could elaborate or point me in a direction where I can expand in this direction through threads, books etc

Great Post I will be thinking about this for a while!

I don't mean to be taking over this thread in any way- so feel free to bump me off!

"Train yourself to let go of everything you fear to lose."
-Yoda, Star Wars Episode III Revenge of the Sith
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to traveller for this post:
 
(login for full post details)
  #5 (permalink)
Market Wizard
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker: AMP/CQG
Trading: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,978 since Oct 2009
Thanks: 3,656 given, 5,118 received


traveller View Post
Wow this is a pretty powerful statement. In my own trading I use a system of waiting for demand or supply to show up in strength on one side or another, before entering- Im not far from the bottom of a push but I still wait for some confirming action. It would be great if you could elaborate or point me in a direction where I can expand in this direction through threads, books etc

Great Post I will be thinking about this for a while!

I don't mean to be taking over this thread in any way- so feel free to bump me off!

I was somewhat disappointed by the presentation. I thought there would be some practical ideas but instead it was more of a teaser for a course the author is selling. I understand the marketing aspect since it is free but nevertheless i would have liked to go with something more tangible.

Regarding your comment, i still need to see strength on one side or another before taking a new position as i mostly trade the pullback that occurs after witnessing some range expansion. The difference is in the fact i don't wait for some order flow signal in the form of a bar closing in the direction of the BO or a footprint or T&S pattern as element of confirmation. I do filter the type of range expansion i see to minimize losing trades and the level i identify as beeing more likely to revert price in the BO direction. It is nothing fancy and this particular phenomenon occurs every day. It's in a way similar to a pattern of divergence. Not all divergences are good to take. You need to apply some filter and measure your success accordingly.

Reply With Quote
The following 2 users say Thank You to trendisyourfriend for this post:
 
(login for full post details)
  #6 (permalink)
denver, colorado
 
Experience: Intermediate
Platform: NT
Trading: ZS
 
Surly's Avatar
 
Posts: 704 since Mar 2011
Thanks: 628 given, 1,254 received


traveller View Post
Wow this is a pretty powerful statement. In my own trading I use a system of waiting for demand or supply to show up in strength on one side or another, before entering- Im not far from the bottom of a push but I still wait for some confirming action. It would be great if you could elaborate or point me in a direction where I can expand in this direction through threads, books etc

Yes, TIYF makes a great point. Another way of saying this may be - no matter where you enter, no matter which direction - your trade will always have the element of uncertainty. Waiting for "confirmation" is really an illusion to some degree. Let's say you are waiting for a level like yesterday's high to enter - you wait for price to get there and then you wait for the "confirmation" of price making some kind of pattern near that level for you to be confident (usually this involves some form of price going in the direction you want to trade first). You then enter. The idea that this "pattern" or "price going in your direction first" provides certainty (confirmation) is mostly an illusion - no matter what reason you have to enter there will always be uncertainty. Yes you can create consistency in your approach and backtest, etc but the uncertainty will not go away. Best to embrace it and manage your risk, trade frequency, and position size accordingly.

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to Surly for this post:
 
(login for full post details)
  #7 (permalink)
Como Italy
 
Experience: Intermediate
Platform: Ninjatrader, customized
Trading: ES
 
Posts: 526 since Feb 2010
Thanks: 471 given, 640 received


trendisyourfriend View Post
I was somewhat disappointed by the presentation. I thought there would be some practical ideas but instead it was more of a teaser for a course the author is selling. I understand the marketing aspect since it is free but nevertheless i would have liked to go with something more tangible.

Regarding your comment, i still need to see strength on one side or another before taking a new position as i mostly trade the pullback that occurs after witnessing some range expansion. The difference is in the fact i don't wait for some order flow signal in the form of a bar closing in the direction of the BO or a footprint or T&S pattern as element of confirmation. I do filter the type of range expansion i see to minimize losing trades and the level i identify as beeing more likely to revert price in the BO direction. It is nothing fancy and this particular phenomenon occurs every day. It's in a way similar to a pattern of divergence. Not all divergences are good to take. You need to apply some filter and measure your success accordingly.

Yes, his videos do tend to do that, and probably the course is to some extent a teaser for private consultations. I still thought it was a good presentation.

I've followed more or less the same progression you speak of in terms of waiting for confirmation - essentially preferring information risk to price risk. I also do it with reversal levels, when you enter directly against strength, though of course one time frame's reversal is another time frame's pullback.

Oddly enough, that's how I started trading in equities. It has taken me a long time to get to it in futures.

Started this thread Reply With Quote
The following 3 users say Thank You to futuretrader for this post:
 
(login for full post details)
  #8 (permalink)
Vancouver, Canada
 
Experience: Beginner
Platform: SC
Trading: Guitar
 
traveller's Avatar
 
Posts: 118 since Mar 2012
Thanks: 222 given, 181 received


futuretrader View Post
There's a new free webinar by Andrew Menaker available here:

Trading Psychology Trading Session: The Missing Piece to the Trading Puzzle - You! - Trader Kingdom

I've seen several of his webinars now, and they are all very good. I think this one is the best summary.


trendisyourfriend View Post
I was somewhat disappointed by the presentation. I thought there would be some practical ideas but instead it was more of a teaser for a course the author is selling. I understand the marketing aspect since it is free but nevertheless i would have liked to go with something more tangible.

Regarding your comment, i still need to see strength on one side or another before taking a new position as i mostly trade the pullback that occurs after witnessing some range expansion. The difference is in the fact i don't wait for some order flow signal in the form of a bar closing in the direction of the BO or a footprint or T&S pattern as element of confirmation. I do filter the type of range expansion i see to minimize losing trades and the level i identify as beeing more likely to revert price in the BO direction. It is nothing fancy and this particular phenomenon occurs every day. It's in a way similar to a pattern of divergence. Not all divergences are good to take. You need to apply some filter and measure your success accordingly.

Thank You for your answers this idea of information risk vs Price Risk. You bring up some valid points- I am definitely waiting for certainty- I think this is probably related to the need to be right. Hmm that is going to be a tough psychological issue to break.

I agree with your sentiment of the webinar... I think his redeeming feature is that he presents the ideas:

The idea of engaging in actions that make you a better trader. Not every action is going to make you a better trader, however in total they bring about a winning trader rather than a winning system.

The traders that can tolerate discomfort are the ones that are going to win in the market.

Among others

"Train yourself to let go of everything you fear to lose."
-Yoda, Star Wars Episode III Revenge of the Sith
Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to traveller for this post:
 
(login for full post details)
  #9 (permalink)
Market Wizard
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker: AMP/CQG
Trading: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,978 since Oct 2009
Thanks: 3,656 given, 5,118 received

There is nothing wrong in waiting for confirmation, the way i see it when i trade a breakout (range expansion)+pullback+continuation pattern is that i don't wait for confirmation when price pulls back to a predetermined level and a pending limit order is waiting to be filled since i consider i already got enough confirmation from the range expansion signal itself. I agree there is some discomfort when you see price move toward your pending order as you don't know with certainty if it will revert there or go and hit your stop loss. All i know is that on a large number of occurrences it has worked well within the space of positive expectation.


traveller View Post
Thank You for your answers this idea of information risk vs Price Risk. You bring up some valid points- I am definitely waiting for certainty- I think this is probably related to the need to be right. Hmm that is going to be a tough psychological issue to break.
...
The traders that can tolerate discomfort are the ones that are going to win in the market.

Among others


Reply With Quote
The following 2 users say Thank You to trendisyourfriend for this post:
 
(login for full post details)
  #10 (permalink)
PTA, Gauteng
 
Experience: Advanced
Platform: Self built + Sierra + TWS
Trading: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,320 received


Has anyone done Andrew Menaker's advanced course:
Services | PopDoc Trader

I've always liked Dr Menaker's webinars and so im considering his course. He certainly has all the relevant credentials in terms of his career and the fact that he actually trades.

My main concern is how much info is in his course that isn't already available in the hundreds of free webinars he has done. I would hate to go through the course and end up only hearing a few minor aspects that he hasn't already talked about in prior webinars.

I've never paid for any trading related courses, rooms etc. If I am to purchase something, I figure a detailed and thorough course on trading psychology from a well respected professional in this field will be the way to go.

Any thoughts? Experiences?

Thanks.

Diversification is the only free lunch
Follow me on Twitter Reply With Quote
The following user says Thank You to DarkPoolTrading for this post:
 
(login for full post details)
  #11 (permalink)
PTA, Gauteng
 
Experience: Advanced
Platform: Self built + Sierra + TWS
Trading: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,320 received


DarkPoolTrading View Post
Has anyone done Andrew Menaker's advanced course:
Services | PopDoc Trader

I've always liked Dr Menaker's webinars and so im considering his course. He certainly has all the relevant credentials in terms of his career and the fact that he actually trades.

My main concern is how much info is in his course that isn't already available in the hundreds of free webinars he has done. I would hate to go through the course and end up only hearing a few minor aspects that he hasn't already talked about in prior webinars.

I've never paid for any trading related courses, rooms etc. If I am to purchase something, I figure a detailed and thorough course on trading psychology from a well respected professional in this field will be the way to go.

Any thoughts? Experiences?

Thanks.

So i've pretty much decided to do the course and will be signing up in the next day or two. Quite excited actually. There is a definite gap between my methodology's ideal performance and what I actually produce,...and that gap is the result of what goes on in my head.

In the mean time, it would still be great to hear from anyone that has done the course. Thoughts?

Thanks.

Diversification is the only free lunch
Follow me on Twitter Reply With Quote
The following user says Thank You to DarkPoolTrading for this post:
 
(login for full post details)
  #12 (permalink)
Como Italy
 
Experience: Intermediate
Platform: Ninjatrader, customized
Trading: ES
 
Posts: 526 since Feb 2010
Thanks: 471 given, 640 received

He certainly has a good reputation, and the material I've seen seems solid.

My main concern would be that his main business, like a lot of these coaches, comes from private counseling. So just as the free material tends to plug the paid material, the paid material may be designed to plug the private sessions.

If you take the course it would be interesting to hear your experience.

Started this thread Reply With Quote
The following user says Thank You to futuretrader for this post:
 
(login for full post details)
  #13 (permalink)
Montreal, Canada
 
Experience: Intermediate
Platform: Multicharts
Broker: Interactive Broker
Trading: Forex
 
Posts: 263 since Sep 2010
Thanks: 440 given, 91 received


DarkPoolTrading View Post
So i've pretty much decided to do the course and will be signing up in the next day or two. Quite excited actually. There is a definite gap between my methodology's ideal performance and what I actually produce,...and that gap is the result of what goes on in my head.

In the mean time, it would still be great to hear from anyone that has done the course. Thoughts?

Thanks.

DarkPool...

Did you signed for the course? If so, what is your impression?
Did it helped you with your trading?

Martin

Reply With Quote
The following user says Thank You to arjfca for this post:
 
(login for full post details)
  #14 (permalink)
PTA, Gauteng
 
Experience: Advanced
Platform: Self built + Sierra + TWS
Trading: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,320 received


arjfca View Post
DarkPool...

Did you signed for the course? If so, what is your impression?
Did it helped you with your trading?

Martin

Yes I did the course. It was excellent with a lot of material. It's the kind of course which you can refer back to over and over again, taking little bits from it each time. There are a lot of different techniques discussed, so there may be some things which appeal more than others,...which is the whole point.

I would target this course at people who:
- Have a proven edge in the market
- Have a detailed trading plan which for whatever reason, you battle to follow

All the psychology in the world is not going to help if you don't already have an edge that you know has a positive expectancy over time. If you're still trying to figure out a methodology, or if you're not completely sure that your methodology has an edge then rather put this course on hold. Dr.Menaker mentions this himself a few times in the course. His focus is on remaining true to your methodology,....but you have to have a methodology first.

One more thing, the course is long and it's not something which you can just go through once and all of a sudden you're a rock star trader. It requires hard work and effort to implement the techniques.

So to cut it short,....yes the course is good

Diversification is the only free lunch
Follow me on Twitter Reply With Quote
The following 7 users say Thank You to DarkPoolTrading for this post:
 
(login for full post details)
  #15 (permalink)
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,134 since Jul 2011
Thanks: 2,387 given, 1,723 received


DarkPoolTrading View Post
....

All the psychology in the world is not going to help if you don't already have an edge that you know has a positive expectancy over time. If you're still trying to figure out a methodology, or if you're not completely sure that your methodology has an edge then rather put this course on hold.

..
So to cut it short,....yes the course is good


Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #16 (permalink)
Montreal, Canada
 
Experience: Intermediate
Platform: Multicharts
Broker: Interactive Broker
Trading: Forex
 
Posts: 263 since Sep 2010
Thanks: 440 given, 91 received


DarkPoolTrading View Post
Yes I did the course. It was excellent with a lot of material. It's the kind of course which you can refer back to over and over again, taking little bits from it each time. There are a lot of different techniques discussed, so there may be some things which appeal more than others,...which is the whole point.

I would target this course at people who:
- Have a proven edge in the market
- Have a detailed trading plan which for whatever reason, you battle to follow

All the psychology in the world is not going to help if you don't already have an edge that you know has a positive expectancy over time. If you're still trying to figure out a methodology, or if you're not completely sure that your methodology has an edge then rather put this course on hold. Dr.Menaker mentions this himself a few times in the course. His focus is on remaining true to your methodology,....but you have to have a methodology first.

One more thing, the course is long and it's not something which you can just go through once and all of a sudden you're a rock star trader. It requires hard work and effort to implement the techniques.

So to cut it short,....yes the course is good

Thanks
Another question: How different is the content than the free stuff found on the net?

Martin

Reply With Quote
 
(login for full post details)
  #17 (permalink)
PTA, Gauteng
 
Experience: Advanced
Platform: Self built + Sierra + TWS
Trading: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,320 received


arjfca View Post
Thanks
Another question: How different is the content than the free stuff found on the net?

Martin

The course has two parts. One part consisting of several webinars, another part consisting of 2 workbook / pdf's. Some of the webinar content is also in his free stuff. But there is still a lot of unavailable stuff in the webinars. The content from the workbooks are unavailable anywhere. The workbooks are essentially the meat of the course because that's what you'll use to do exercises and implement techniques that he discusses.

Basically you watch all the webinars (probably more than once each). Then you get stuck into the workbooks.

Diversification is the only free lunch
Follow me on Twitter Reply With Quote
The following 4 users say Thank You to DarkPoolTrading for this post:
 
(login for full post details)
  #18 (permalink)
woodstock, ga
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: Futures, TF, CL
 
jwhtrades's Avatar
 
Posts: 163 since Feb 2011
Thanks: 670 given, 90 received


futuretrader View Post
There's a new free webinar by Andrew Menaker available here:

Trading Psychology Trading Session: The Missing Piece to the Trading Puzzle - You! - Trader Kingdom

I've seen several of his webinars now, and they are all very good. I think this one is the best summary.

I have taken the first version of this course. I found it to be of value but like everything you must put in the time to go through the material and journal or it will be of little value.

I understand Andrew is offering an updated version of his course, which I have not purchased.

Good trading,

Reply With Quote
The following user says Thank You to jwhtrades for this post:
 
(login for full post details)
  #19 (permalink)
South Africa
 
Experience: Beginner
Platform: Charts:MarketDelta, Orders:Ninja+Jigsaw
Broker: IQFeed
Trading: ES
 
Posts: 16 since Oct 2013
Thanks: 53 given, 19 received


DarkPoolTrading View Post

...

I would target this course at people who:
- Have a proven edge in the market
- Have a detailed trading plan which for whatever reason, you battle to follow

...

So to cut it short,....yes the course is good

+1 !

Reply With Quote
 
(login for full post details)
  #20 (permalink)
Point Roberts, WA, USA
 
Experience: Advanced
Platform: IB and free NT
Broker: IB
Trading: ES
 
aquarian1's Avatar
 
Posts: 4,026 since Dec 2010
Thanks: 1,504 given, 2,579 received



Here are some my notes from this video

3 reasons traders fail:
not havng and edge
not being able to articulate their edge
not incorparting trading psychology into out plan

Hypothalmus puitiary adrenal access
HPA access controls: stress, mood, emotions, energy storage, immune, digestion
Emotion and cognition are intertwined
how we perceive our world and how we make our decisions

key - ability to tolerate discomfort/pain/idsappointments in our trading and follow our plan
how do you take a loss? promising youself you will do x (white-knucling it through) won't work and then berating yourself afterwards doesn't fix the problem.

Beat yourself up when you don't follow your rules - e.g "next time I'll be more patient."
Will-power is not a sustainable form of discipline. (glucose used up in the stress of decision) - see ego deleption
other ways to develop discipline.
tick by tick pressure - pain when it goes against you and relief when a tick goes with you

e.g Bob - smart hard worker - still not BE in P/L - needs other skills - how you respond to discomfort.
the noise and ambiguity of the market causes pain, anxiety -- answer in him not in the charts
perfectionists like to saty busy.

Emotions help us decide on which information to prioritizing for incoming info - allocate a scarce resource.

Priming by the unconscious
Priming - casino story
Framing - A -B avoid even the perception of loss
We see the market as we are (not as it is) we project our own filter onto the market.

Our current beliefs and actions are governed by experiences linked to unconscious emotional memories.
Emotions are key to forming beliefs
Re-experiencing of emotions tied to the orginal conflict re-enforce current beliefs.

Unconsious emotional memories key to developing beliefs

How a belief continues to be supported by the continued exposure to the emotions that formed it.
Hot state in trading decisions.
Price follows path of least resistance. We seek out comfort and avoid pain, but as a trader we must face it.
Elephant poop
Unresolved emotions. Act out your feelings instead of enduring them.

Malcom give back trader. Making money feels good but the last trade cost him dearly. We tend to take less than optimal trades as we go along.

Traders must recognize your own patterns to act in your own best interests. Our brains need info on how to act.
Sleep is crucial
Glucose - willpower - brain uses 25% of our body's glucose. Food determine serotins and neurotransmitters - ammin acids.
Manage your physical body.
Feeelings about our social status. Unconscious emotions fuel feelings but we just let it go. See emotion as a source of info about how we are interacting with our environment.
Emotions effect: attention,perception of risk, causality etc.

We must work with a subset of information aas there is too much to handle.
Effective decision-making requires emotion.
Managing emotions - 3 steps - but reuire ability to identify emtion - takes practise
what emotions will come forward -anticipate (how will I feel in the future if I can the action now)
express your emotion
analysis your emotion

process goals (we do control) vs outcome goals (you dont have control over)
premarket routine - exercise - meditation. real time emotion goals
tyoe 1 & 2 follow your plan - make money or lose money
type 3 & 4 don't floow you plan -make money or lose money

self-directed questions - do them out-load
am I acting best interest right now?
how much pressure am I feeling right now?

Find the right process goals.

Develop the right kind of confidence & focus on process not outcome
Develop confidence that is resislence in the face of disappointements - waiting, losing, missing out all the things we have to face in trading.

Self -understanding (using analytics to become aware of the underlying emotions driving your behaviour)
Self -acceptance (if your ignore your emtions it is much more likely you will act out the emotions. Tto be in the present accepting what is)
Focus on process not outcome (doing the things you have control over builds self-trust - as opposed to focusing on things you do not have control over -the trade outcome. Doing this gives yourself a chance to do something right. and doing this over and over builds psychological capital)
Leverage your strengths

1. Articulate your edge (does it suit you? do you have confidence in it?)
2. Manage you energy - physical and mental and emotional - they are interconnected. Stay hydrated, 2 cups of w for one of coffee,
balanced glucose protien and graze, avoid high glycemic foods, omega 3 fatty acids - fish increase serotonin, Water is key!
3. trade the market not your P&L (write down every time you thing about money)

..........
peace, love and joy to you
.........
Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to aquarian1 for this post:
 
(login for full post details)
  #21 (permalink)
Vancouver, Canada
 
Experience: Advanced
Platform: Ninjatrader
Broker: Ninjatrader Continuum
Trading: RTY, ES, and Directional Options on QQQ, SPY, IWM, AMZN, AAPL, TSLA
 
Posts: 188 since Apr 2014
Thanks: 662 given, 148 received


DarkPoolTrading View Post
Yes I did the course. It was excellent with a lot of material. It's the kind of course which you can refer back to over and over again, taking little bits from it each time. There are a lot of different techniques discussed, so there may be some things which appeal more than others,...which is the whole point.

I would target this course at people who:
- Have a proven edge in the market
- Have a detailed trading plan which for whatever reason, you battle to follow

All the psychology in the world is not going to help if you don't already have an edge that you know has a positive expectancy over time. If you're still trying to figure out a methodology, or if you're not completely sure that your methodology has an edge then rather put this course on hold. Dr.Menaker mentions this himself a few times in the course. His focus is on remaining true to your methodology,....but you have to have a methodology first.

One more thing, the course is long and it's not something which you can just go through once and all of a sudden you're a rock star trader. It requires hard work and effort to implement the techniques.

So to cut it short,....yes the course is good

Glad you liked the Advanced Course. I am just looking at his basic course and I'm not very impressed. There isn't a whole lot in there. I may consider getting the Advanced one.

Follow me on Twitter Reply With Quote


futures io Trading Community Trading Reviews and Vendors > Andrew Menaker Trading Psychology


Last Updated on August 31, 2016


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Journal Challenge w/$1500 prizes from Topstep!

February
 

Battlestations! Show us your trading desk - $1,500 in prizes!

March
 

Call Option Buying: The New Pain Trade? w/Carley Garner

Elite only
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts