Psychology Of Trading

[jfdinneen]

For those who continue to experience the emotional rollercoaster of winning and losing trades, I recommend completing the simple questionnaire in Brett Steenbarger's classic article on the psychology of trading (http://www.brettsteenbarger.com/Classic_Articles.pdf) to help identify your weaknesses and then to devise a plan of action to compensate for them.

John

[Ted Craven]

Thanks John! Always looking to add to my psychological fitness file.

In turn, here is a video interview with Mark Douglas (Trading in the Zone) and follow-on article 'Mind for Consistent Results (http://sartinmethodology.com/betting-psychology-mind-for-consistent-results)' written by a good handicapper. All relevant to the post-handicapping (wagering) phase of our endeavour.

Ted

[jfdinneen]

Thanks Ted.

Will review it tomorrow when I get some down time.

John

[hugh]

If you really want to learn what going "against the public" LOOKS Like I recommend the work of Tom Demark...
My favorite is "Demark on day trading Options"
When joe public is going one way.. go the other. It works in the stock market as well as parimutuel pools.

[On Spec]

Thanks, John. This will be very useful.

[jfdinneen]

Personally, I tend to get frustrated and irritated when I am inconsistent in my handicapping approach. This frustration is compounded by having developed mathematical models of the human brain with respect to both normal and abnormal functioning in my academic past - in other words, I should know better! Anyway, to offset the irritation, I now place my trades (including stop losses and exit points) well in advance of the markets opening and simply review the final position at the end of play. A work in progress but better results to date!

John