Trading is a very lucrative career, however currently because of the promise it can bring to one's life, unfortunately there are many scams or misleading ads that utilize this promise to mislead people for quick cash.
I would like to request for a trading subliminal.
A good technical trader or a good trader who understands the market should be able to trade any financial instrument. Because trading is a universal skill. Therefore if this sub were ever created, it will receive great audience.
Now, we cant create this sub without finding good resources to extract info.
I hope any of you traders out there who knows some good information that can help build this sub to post it here.
I will start by posting an article(s) from Randy Howell. There are many other articles by same author. Good luck
https://www.mytradersstateofmind.com/the...-fear.html
I would actually love to do a sub like this, but there are a few important considerations to make, including, I have to know and understand enough about all the types of trading to feel comfortable making this. I'm working on it.
I would kindly disagree here Samba. Not all markets behave equally, correlation can mostly be observed between two asset-pairs of one asset class and even then it is not guaranteed that the same strategy will yield good results across both asset-pairs.
A Sub centered on Trading would be great and I full-heartedly second this request.
Out of curiosity, what would be the difference/benefits of a Trading Sub for a trader versus listening to UMS or UMSL while trading? There seem to be these big Subs that include many things and then there are very focussed ones and I am often unsure how they differ.
Live long and prosper
MM
(03-14-2021, 12:52 PM)Shannon Wrote: [ -> ]I would actually love to do a sub like this, but there are a few important considerations to make, including, I have to know and understand enough about all the types of trading to feel comfortable making this. I'm working on it.
@
Shannon It would be great if you build a sub specialize on trading & investment. Not sure you want to build it for long-term or short-term investment. For me, I
I believe in long-term investment in bull market.
In case you want to have the source to read about it,
The Intelligent Investor book by Benjamin Graham is a great source.
RenaiMan
Sometimes I think "luck" is much more important than "intelligence".
What if I choose the right investment on the logic side but it takes a long time for others to see it too and my investment mostly goes sideways?
What if I luckily found out about bitcoin early, bought some, bought also some Tesla shares without knowing much, bought some stuff here and there without understanding much of it but somehow made lucky decisions at the right timing?
(03-14-2021, 11:37 PM)AriGold Wrote: [ -> ]Sometimes I think "luck" is much more important than "intelligence".
What if I choose the right investment on the logic side but it takes a long time for others to see it too and my investment mostly goes sideways?
What if I luckily found out about bitcoin early, bought some, bought also some Tesla shares without knowing much, bought some stuff here and there without understanding much of it but somehow made lucky decisions at the right timing?
Yes, you are right. Luck is another aspect that needs to take account in.
Shannon will be the one to choose what are important to put in the script so let just throw ideas for him to consider.
Imagine having a Trading TID effect. Wherein you get a STRONG HUNCH that a {stock/currency/commodity/price chart/etc) is going to move in a certain direction. This coupled with a STRONG URGE, faith and confidence to trade such move(s). Wow what a sub that would be.
So having TID's for upcoming price moves would be phenomenal.
(03-14-2021, 02:50 PM)MegaMan Wrote: [ -> ]I would kindly disagree here Samba. Not all markets behave equally, correlation can mostly be observed between two asset-pairs of one asset class and even then it is not guaranteed that the same strategy will yield good results across both asset-pairs.
A Sub centered on Trading would be great and I full-heartedly second this request.
Out of curiosity, what would be the difference/benefits of a Trading Sub for a trader versus listening to UMS or UMSL while trading? There seem to be these big Subs that include many things and then there are very focussed ones and I am often unsure how they differ.
Live long and prosper
MM
Maybe it's true but as you suggested
I am not talking about a strategy sub im talking about building a sub that will put trader in the right mindset. Finding a suitable strategy for certain market is rather simple task. what is difficult is to execute and stick to the strategy.
What I am saying is there are only two mindsets in trading, the losing mindset and the winning mindset. Its all about beliefs. I have attached a link for one author for you to look into what I'm talking about.
I am just not sure if UMS can point you in the correct direction with trading ( I'm testing it out as of now).
Unfortunately I can study the material that these psychologist present and I can do it all day long. But chances that will change how my subconscious mind behave is slim because as Shannon understands already, these parts may not even understand logic.
(03-14-2021, 11:47 PM)Renai_Man Wrote: [ -> ] (03-14-2021, 11:37 PM)AriGold Wrote: [ -> ]Sometimes I think "luck" is much more important than "intelligence".
What if I choose the right investment on the logic side but it takes a long time for others to see it too and my investment mostly goes sideways?
What if I luckily found out about bitcoin early, bought some, bought also some Tesla shares without knowing much, bought some stuff here and there without understanding much of it but somehow made lucky decisions at the right timing?
Yes, you are right. Luck is another aspect that needs to take account in.
Shannon will be the one to choose what are important to put in the script so let just throw ideas for him to consider.
Luck would be a nice feature definitely, however there are millionaire traders out there who have 40% or less winning rate and are killing it in the game. But who wouldn't want some luck in the game
(03-14-2021, 12:52 PM)Shannon Wrote: [ -> ]I would actually love to do a sub like this, but there are a few important considerations to make, including, I have to know and understand enough about all the types of trading to feel comfortable making this. I'm working on it.
That's good Shannon, I'm glad you taking an interest. At the end you will most likely find that most successful traders are garnered by a successful way of thinking and behaving. They obtain similar attitude. That's the kind of sub I am hoping you would build.
Whether the trader is trading short term or long term whether he uses chart or news or some other fundamentals or automated trading, whether he trades stock, currencies, commodities, indecies crypto..... They all will definitely benefit from the correct mindset to trade.
A sub that fixes problems like
- Loss aversion
- Sunk cost effect
- Disposition effect
-Outcome bias
Sorry if you still not familiar with these terms, but there is no way in the financial world that some of these effect are beneficial to some market assets and not beneficial to some others. It's simply not good for a successful trader
Remember that all of the users of the sub would have to know what all of the terms used in the script are. And the more specialized the language of the goal becomes, the more I have to back off and generalize in creative ways to make sure everyone understands it in the same way. But the cost of doing that is that I cannot be as specific. Which eventually becomes a chicken and egg issue. It has to be general to get everyone to understand, but the risk is that it is too general for everyone to understand what is necessary to communicate by making it general enough for everyone to understand...
So when I am done researching trading I'll asses what I can do without getting into a chicken and egg issue. It may be that I have to stick with just adjusting the trader's mindset, without getting into trading specifics, which would allow the generalization necessary without triggering the chicken and egg issue.
(03-15-2021, 06:35 AM)samba99 Wrote: [ -> ] (03-14-2021, 02:50 PM)MegaMan Wrote: [ -> ]I would kindly disagree here Samba. Not all markets behave equally, correlation can mostly be observed between two asset-pairs of one asset class and even then it is not guaranteed that the same strategy will yield good results across both asset-pairs.
A Sub centered on Trading would be great and I full-heartedly second this request.
Out of curiosity, what would be the difference/benefits of a Trading Sub for a trader versus listening to UMS or UMSL while trading? There seem to be these big Subs that include many things and then there are very focussed ones and I am often unsure how they differ.
Live long and prosper
MM
Maybe it's true but as you suggested
I am not talking about a strategy sub im talking about building a sub that will put trader in the right mindset. Finding a suitable strategy for certain market is rather simple task. what is difficult is to execute and stick to the strategy.
What I am saying is there are only two mindsets in trading, the losing mindset and the winning mindset. Its all about beliefs. I have attached a link for one author for you to look into what I'm talking about.
I am just not sure if UMS can point you in the correct direction with trading ( I'm testing it out as of now).
Unfortunately I can study the material that these psychologist present and I can do it all day long. But chances that will change how my subconscious mind behave is slim because as Shannon understands already, these parts may not even understand logic.
What link? Do you mean the article by Rande Howell?
I can only speak from my own experience. My journey in the markets started when I overcame my fear of losing the invested money. I did not do it by myself but simply because the shame of missed returns and the fear of missing, even more, returns overwhelmed my fear of losing the investment.
For a single trade, this is near the worst mindset one can have, but in my case it got the ball rolling. It was like an instant switch in my mind "F*ck this I am going in NOW and I do not care if I lose everything I put in".
So that was when I started several years back and surely I made some mistakes, learned from them, and kept going.
A few months back I was in another situation like this. There was the opportunity to invest in a new asset class that I did not understand and so I didn't want to put money in it. I put researching it off, time and time again. And then one day I had the same switch in my mind as when I first started. Grabbed a sum I was comfortable with and went in. It was successful.
So what I can conclude from my own experience is that you do not need a course on trading psychology or some new winning mindset technique for success. You need to
overcome your fear and get started.
A strategy or plan will be the result of experience.
May your efforts be rewarded
MM
(03-15-2021, 09:55 AM)Shannon Wrote: [ -> ]Remember that all of the users of the sub would have to know what all of the terms used in the script are. And the more specialized the language of the goal becomes, the more I have to back off and generalize in creative ways to make sure everyone understands it in the same way. But the cost of doing that is that I cannot be as specific. Which eventually becomes a chicken and egg issue. It has to be general to get everyone to understand, but the risk is that it is too general for everyone to understand what is necessary to communicate by making it general enough for everyone to understand...
@
Shannon The book Intelligent Investor is about mindset. It's aim is to explain and teach normal people how to invest so the way it is written is not very technical.
(03-15-2021, 06:35 AM)samba99 Wrote: [ -> ] (03-14-2021, 02:50 PM)MegaMan Wrote: [ -> ]I would kindly disagree here Samba. Not all markets behave equally, correlation can mostly be observed between two asset-pairs of one asset class and even then it is not guaranteed that the same strategy will yield good results across both asset-pairs.
A Sub centered on Trading would be great and I full-heartedly second this request.
Out of curiosity, what would be the difference/benefits of a Trading Sub for a trader versus listening to UMS or UMSL while trading? There seem to be these big Subs that include many things and then there are very focussed ones and I am often unsure how they differ.
Live long and prosper
MM
Maybe it's true but as you suggested
I am not talking about a strategy sub im talking about building a sub that will put trader in the right mindset. Finding a suitable strategy for certain market is rather simple task. what is difficult is to execute and stick to the strategy.
What I am saying is there are only two mindsets in trading, the losing mindset and the winning mindset. Its all about beliefs. I have attached a link for one author for you to look into what I'm talking about.
I am just not sure if UMS can point you in the correct direction with trading ( I'm testing it out as of now).
Unfortunately I can study the material that these psychologist present and I can do it all day long. But chances that will change how my subconscious mind behave is slim because as Shannon understands already, these parts may not even understand logic.
I think MLS can help with this. If the goal is to master trading, then MLS should help you learn and develop whatever qualities necessary in order to succeed. UMS should help too, because the goal is to make you a lot of money, after all.