A “Philosophy” of Making Trading Rules

A coaching client in Hong Kong recently wrote this in response to a homework assignment. It is so good, in my opinion, that I want to make it available. Let us know what you think? FROM: AN You asked me what would be the smallest number of rules I would need to trade well. I [...]

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Unnoticed Contexts & Trading Performance

Earlier this week, one of my clients with the title “Head of Equity Trading” wrote exactly this sentence copied and pasted from his email: “i had another one of those traading days where i let my loss just go to its fullest, and had a really bad day.” SO… how does a trader of that [...]

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How Traders can Leverage the New 4 “Basic” Emotions

Did you know that no one knows for sure how many “basic” (irreducible) emotions there are? Many scientists have long believed in six, a new study indicates four and a growing body of work by the teams emerging from Lisa Feldman Barrett’s labs makes a very credible case for only two – approach and avoidance [...]

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A New Trading Psyche for 2014

What can a trader do (really do) to optimize their mind for trading? Is it “plan the trade, trade the plan”? Is it “control their emotions”? Is it something else? Here’s what works. Realize that like professional sports, trading is a performance discipline. #1 means that the interaction of body, mind and “spirit” IS  the [...]

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Understand and Eradicate the Mysterious Riddles in Your Trading

What phenomenon does this partial quote describe? “…people all of whose human relationships have the same outcome: such as the benefactor who is abandoned in anger after a time by each of his protégés, however much they may otherwise differ from one another, …or the man whose friendships all end in betrayal by his friend; [...]

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Key Layers of Trading Related Emotions

First of all, neuroscience is teaching us that trying to separate risk decision making from feeling or emotion is at best a waste of time and at worse, a sure way to eventually trade-out (like act out) the feeling/emotion that is present. Second, there is a logical fallacy in the idea of “control your emotions” [...]

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Fear, Affect, Emotion & Psychological Science

Forms of fear permeate the process of trading. Every market decision bets on a fundamentally unknowable future and as such, trading implicitly includes a factor derived from the spectrum of panic to overconfidence. Moment to moment, a trader’s beliefs can ameliorate debilitating or palpable fear but as most honest traders know, price action “mis-behavior” can [...]

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Do I want to be Right or Do I want to make Money?

As I prepare for The Galtere Institute’s Behavioral Finance symposium, I am doing what I always do before I speak – catching up on the latest studies on emotion and risk decision making. For example, did you know that there is actually still much disagreement in science about what emotion is and how it works? There [...]

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How to Stop Giving Trading Money Back

Traditionally trading psychology advice regarding giving money back has focused on being disciplined and staying focused. Yet traders of all stripes complain to me that while they intend to be disciplined and to stay focused, they find themselves in trades they didn’t intend. It’s almost like (they say) someone else was in their body making [...]

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How Well Do You Really Know your Own Trading

If you are not at a hedge fund or proprietary trading firm (and in some cases even if you are), you might not really know your own trading. It’s quite easy to look at an equity curve and think that it all you really need to know. In reality however there is a lot more [...]

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