thread: Psychology is nothing

89980errrr.... How we egorize an evil scientist? A smart individual?

Translation: the planet is full of problem, yes, we've shown that our phrase, but there is almost no thing in the world that works nicely on everything

89980

p/s: nobody really answer my question yet... where really you guys got that figure of 95% thinggy? If you understand... where to find it? Any survey... research... solid data? Why every year just the same... 95 percent I am still dizzy relating to it. Seriously!

In general, 95% is the assumption marketing plogy since statistically 100% isn't possible.

It's about marketing, 25.95$, 19.95$...[/quote]

Aaaaaa... Oooooo Cheers mate That is make sense!!! Assumption marketing plogy. Now I can sleep like a baby educated me

89980

Just....As of me starting to write this response I had nearly 600 showing on my very first GJ trade today a bit less today and I've opened and closed several others along the way and have left way in excess of the figure.

I know this really is an exeptional day and I'm sure a lot of people have made these numbers, but my point is that I could not have completed this without what I've learnt in my short trading career.

The setup to short was clear (to me personally ), and it soon became clear the momentum was so powerful and it would continue.

Sure Plogy plays a big role when your beginning, its bound to perform you don't know what your doing.

To me its all about understanding thats what make you successful.

Another thing that may play a role is whether a individual has the apptitude to exchange much as you would need to be say an engineer, a few will not learn it.

A bull and bear led persistance to stick at it rather than give up is just another another usefull attribute. Perhaps this is actually the Plogy part, having the discipline to stick at it.

I'm ranting today and also at risk of not understanding what I'm ranting about.

Wow, that is fantastic! Glad you caught that move. Interbank's feed went down for a full hour, which included the first part of the move down, so that I didn't trade it. I didn't have chart data - no analysis, and didn't want to pursue it, so that I sat out.

I guess that is discipline. Of course today I wish I had jumped in. If you earn money and exchange sloppy you believe you can always do that, and it results in a lot of difficulty.

I wish I could have followed my own rules and still captured the move.

89980

I concur with Raczefx

Yes, but you understand how to trade! From reading your articles You've got setups which serve you well and many techniques, or at the least it might seem so.

Perhaps at the point you believe it is all plogy, but you are taking all your understanding for granted.

If plogy is all, and strategy is unimportant, then why won't you discuss your stop-hunting strategy?

89980

Seems like you actually KNOW that 95% thinggy? People... enlightened me... please... where you guys really got that figure 95% out of? Any challenging prove? Seriously... I need to understand that... is it really true?

Anyhow... if trade with no plogy... might too leave it to the ROBOT. Then again... I do not TRUST the robot.

Provided that I am human being... I am very pleased with whatever plogy I got.

Only a few of my own ideas on all of this; if Plogy (real behavioral analysis - not the garbage that the gurus attempt to market ) functioned in trading, we'd see many, many more hedge funds rooted in Behavior Finance Theory together with Doctors of Plogy since the lead trader. Its exactly the exact same issue the medical industry has with divorce; Plogists on earth have a higher level of divorce compared to other medical professions along with the typical federal divorce rate hear in the US (Source: The New England Journal of Medicine as quoted in White Coat from alum Ellen Rothman). Psychlogist, above anyone, should be able to manage the pressures of marriage and understand, know and implament the actions that will make is powerful: However knowing AND knowing isn't sufficient in marriage or trading... There is going to be something else that ultimately determines the winners across the losers and I'm not so sure that it may not come down to some statistical anomaly.

Part of the issue with this argument is, and I've seen it several times in the last seven decades is; many of the traders who are arguing over what it is making successfull trading possible, haven't been doing it long enough to have a valid argument. If you took a poll here you'ld discover the trader has been for a month or two in FX. Yes there will be a few who have been in a few years and even fewer still who have been for many decades. If the 95% dropout rate was not accurate; this board could have 10,000 individual trader watching it as opposed to a couple of thousand; there should be more of the Old Guard around who have been doing it more and are still active, but they aren't out there, not in any significant numbers. People tend to treat something like its brand new, because they are new to it, but FX has been around for a while... Finding a statistically significant number of people who have been trading it for five, six or maybe seven years is very tough.

before I left FXStreet we began a trading competition; to be fair this data would be to discreet to be significant, but I believe that the number is well worth noting. We had fifty traders register with live accounts to win a change to manage a portfolio that is real. Following four months (the competition conclusion) just 2 traders had positive returns in their accounts. That is a collapse. Again the sample is too small but its an interesting reflection.

Thats just my take...

89980

Right before I left FXStreet we started a trading contest; to be honest this data is to discreet to be important, but I believe that the amount is well worth noting. We had fifty traders register with live accounts to acquire a switch to control a portfolio. After four weeks (the competition conclusion) only two traders had positive returns in their accounts. That's a 96% failure. The sample is little but its an interesting manifestation.

Thats just my take...

That is a strong prove... even though not strong enough... I am content with it. Cheers Bro Another one enlightened me

89980I believe this type of topic will be universal where money (however little or much is involved).
For instance I'd some 5min scalping with a friend last night, who's only knowledge of currency dealing comes from me personally. Type of like the blind leading the blinder.
So I showed him several possible regions of sup and res on the hourlies then we moved to the 5min and took a brief on the Euro, fading a break above 700 of the large at 730.
Now as the market fluctuated it sparked a discussion on plogy and profit taking we saw the commerce venture up 25 pips then retrace, nevertheless my friend was reluctant to get out with over 25 therefore waited, the market came back and we shut the transaction for 25pips profit. After that we moved in another direction for 12 pips.So 37 pips out of approximately 2 hours of 2 trades.

The outcome is irrelavent nevertheless because had either of us been trading independently I am sure we would have made much less. The simple fact that we nursed each commerce talking our very own plogy and also the perceived plogy of the market surrounding the leading and around number which we were trading, contributed on those trades. I have even heard of people speaking to cuddly toys when investing to elucidate thoughts and their feelings, to an inanimate thing.

For me this kind of behaviour shows that ones plogical response to the market is of the utmost importance. How we act when our pocket is under danger matters.

So I agree that when we do not have any idea of how to fill out the tank, then our operation will suffer, but if we speak ourselves through the process our chances could just be that much higher.

Regards,

Ed.

89980

Regards,

Ed.
___________________________________________
The most powerful force in the Universe is compound interest Albert Einstein

That quote from Albert Einstein Really educated me Oh... I am so educated tonight

Don't think that I have a plogy myself :

89980Yes.

I figure I concede that once you understand how to exchange, and you've got some setups you know are great, plogy would have to enter in.

It could be quite tricky.

How can you refine your system, or absolutely change it to match a shifting market, in case you did not break a rule? I if stats proved outside, then change the system, and suppose without straying out of your system, you could analyze. But, over how long a time? We know we're not likely to keep altering the system after each series of failures, could lead to chasing one's tail....

How do you know if what you're doing is scientific, or even in case your head is tricking you?

Now, in case you're not doing what you know is the right thing to do, then that is an issue. It would be like my buddy going each time in the gasoline stationafter she knew how to fill out the tank. Then that's plogy.

I am not to that point however. I am still working on mastering the technical aspects of trading.

I am also kinda surprised at how few people get the purpose of the initial article.