thread: Psychology is nothing

Any commerce has an apprenticship period of at least three years with a lot years of expertise to become very profficient. When the penny drops and you gain the knowledge that is the advantage, the pyschology or emotion stems from not understanding what your doing.

That is my thinking at this phase of my trading career and maybe time will prove me wrong but that I will continue to understand (trade reside ) and gain the knowledge to understand what's happening and trade accordingly.

Plogy is the science of mind and behaviour.

That includes learning strangely enough. And decision.

There's a lot of ignorance in this thread. But ignorant traders are good for the market... and I'd encourage Paris to join a number of these and bring her cash to the markets and help people who way.

If you are learning how to trade well then you may benefit from studying a book called Improving Trader Performance - recognized egies from the very edge of trading plogy. Its all about learning when the problems occur 13, and relearning.

As always, good luck; a few of you may require an awful lot of it to avoid the 95% (possibly 19 from 20?)

Well you are correct.
Knowledge is everything in Forex.

If let us say a godlike system seems that can predict every move then there'll be no fear at all to exchange freely.

Folks are forced to exercise some type of feelings control as they are unaware of the true market's character.

Like if thunder was regarded as a god...

p.s
Though I have something to add about plogy and human behavior.
Some totally crazy things happened to me.
I saw a dream in which Eur was at 1.37 and it climbed up to 1.61.
I saw that the King(I do not know what happened to the queen!!) Of england made some sort of announcement and that Eur(I dont know what Gbp did and that I really can't know why the king(!?) Of england could affect Eur) began going up from 1.37 then it postponed for every 200 pips and that I shorted it.Every time that I shorted it went down for 20 pips or something and then it rallied for another 200 pips in a matter of moments (I figure this is actually the worst forex trader's fear,a crazy market moving against you) while I kept shorting it every time it stalled.I kept shorting till it attained 1.50 and then it's just spiked up a 1100 pips into 1.61.
Then I woke up!
Back to reality now...
When Eur attained 1.4270 I knew it was a great short trade with a profit target in 1.4030 but still I couldn't pull the trigger since that dream had really changed me.So for the last weeks I stopped trading Eur/Usd at all untill either the fantasy comes true and eur reaches 1.61 (!!) I can operate with no interference of illogical fears to my own trading.
That is something I can't explain up to my plogy is worried.

I happen to agree with the OP.

Most of the things mentioned when talking about the physcology of trading that I feel are backend(for lack of a better word) forms of things.
Off the top of my mind Learning how to learn Adaptation to changing conditions so you may re-edue yourself Understanding the players in the Company and the forces that affect them Discipline Non decision making Humbleness Having a mind that is clear I feel these things are Business 101 and Life 101 and they stay with me.

So when I first started to learn how to trade stocks, people would go on about how you've got to have the proper mind state ; and would start discussing techniques I apply in every area of my life.

Well that is cool, but not exactly what I personally needed and it turned into fruing to constantly hear that.
What I needed to understand was how to quantify\qualify an edge in this organization. The way to spot\exploit inefficiencies in supply and demand.

I will handle the backend things.

So I think it's where you are at in your life journey. Where one discovers \ learns where one tends to get into the plogical aspects about that subject the backend matters is. I know I do it for things because these things taught me much about life\company \myself.

Trading came after for me, therefore that I don't connect my plogy for it.
I just have to know should have EV, regardless of the game.

Just my 2 cent

I can not understand how anybody who has traded for some time can not observe that plogy is at least as important as technical knowledge without getting into the whole debate.

Completely not surprised to come across the writer of this ribbon to be BR. I tried making my stage and he brought it up in the ribbon that was J16 .

Mike and raczekf and basically anyone inside the PF gets it I believe.

I also think that as long as you refuse to take you won't arrive.


Https://www.cliqforex.com/general-fo...ews-today.html


The fact alone that you have refused to take and gone on to deny in not one, two but three threads and rather put the energy against it than to take is about as loud and clear a proof as anybody could desire.

Everything's your decision - you can't alter the market, you can only change yourself.

Mindset(plogy, discipline, psychological control) is everything.

As for all those that came into all this having already mastered that part(because I just watched Prime#'s post) - well great, then studying, understanding and applying the knowledge is only a question of practice. But minus the groundstone of self-mastery trying to master anything else instantly becomes moot(and many of anybody I see struggling has that specific problem - not everyone starts out with that incentive, Prime#, and the irony is that what you perceive as backend and basically prerequisite type of becoming circumvented by brokers allowing anybody in using 500$(random figure, you know what I mean), regardless of whether they are or cannot demonstrate those qualities you listed. Coming in your disposal together into FX is a major exception, not the rule. You're exceptional In case you did. That's the thing.) .

And the question is whether we're arguing a general principle or specific cases.

Clearly if you are already there you no longer need to get there - and if you aren't, yet refuse to admit it, you won't overcome till you do. On the lookout for other people (instead of your self ) and external sources/reasons imho is symptomatic.

Without getting too much into the entire debate, I can't understand how anybody who has traded for some time cannot observe that plogy is just as important as technical knowledge.

It's mate, but it is not limited to trading.
It's important in EVERY aspect of life, trading just being a dot on the map of existence.
I simply related the OP 1st post because when I first started out, it had been fruing asking experienced traders direct\succinct inquiries, but obtaining yoda like answers pertaining to my mind state. I believe in the end they were trying to get me find my own way.

But with no groundstone of self-mastery trying to learn anything else instantly becomes moot(and most of anybody I see fighting has that specific problem - not everyone starts out with that bonus, ).

Agreed.

Thanks for the discussion.
You good people take care.

Mindset(plogy, subject, emotional control) is all.

OK, so if I shot someone off the road that had a perfect mindset, let's just say that individual was the most sane person on earth, entirely in control of feelings, entirely disciplined, but has never seen the very first word about trading.

From what you state, they would be a profitable trader, directly from the chute.

I state hopeless. I say they would have to learn how to trade in order to be a successful trader. Disagree if you want, but see the sentence. It's not a trick.

I guess, if a person were a mental wreck, they would never learn. I'll give that to you. But that's not what we are talking about.

How about a hitman? There is someone with no emotion, but really mad. How can he perform in trading?

It is interesting, actually downright comical, how only two people understand the OP, and those that don't understand are so insistent that I have it exactly backward.



But I'm sure it is just because they care a lot about me personally.

If you read all the posts in this thread with an unbiased mind (which many may not) - you can see the majority of ones who believe pschology is nothing or meaningless or less important, are the traders may this least experience. The people who believe it is all or everything important, would be the most seasoned. To put it differently, been there done that.

Draw your own conclusions.

If you read all the posts within this thread using an impartial mind (which many might not) - you can see the majority of people that think pschology is nothing or meaningless or less important, are the traders will experience. The ones who think it is everything or most important, would be the most experienced. In other words, been there done that.

Draw your own conclusions.

That you still do not appear to understand it though.

Emotional control is an integral component of any experienced trader's egy.
What we're saying here is that we're forced to do this because of the fact that all systems have imperfections.If there were to exist the infamous holy grail of trading afterward feelings would have nothing to do with trading.

Seems a lot like your regular school story.

How so? I really don't get your point.

And you didn't get mine.

My point was, before I created a method to manage this one thing, emotion dominated. I decided I know the right way the decsion will never be affected by emotion.

This is exactly what makes a fantastic trader. Knowing what to do, and just how to deal with the numerous things that appear, then doing it.

Emotion is not a variable. Knowledge is everything.

I won't respond any longer, this really is a waste of time.