Hello Traders,
Today, I found a great video that I thought I would share with you. Big shout out to John for finding the video and sharing it on Google+. It is an interview with Trader and Trading Coach Denise Shull. She focuses on the psychological aspects of becoming a professional trader and shares her experiences. Although she talks about markets other than Forex, the concepts that she discusses apply to any market.
There are a lot of different topics that are covered in this video. The ones that I found most interesting were:
- How to create an effective trading journal
- Why most of the trading advice out there is rubbish
- How long it will take the average person to become a professional trader
- The Perfect Indicator
- Why you should never try to control your emotions
- The one biggest piece of advice that Denise gives to beginning traders
- Why traditional trading psychology is broken
- And much more!
I found this video insightful and I hope it helps you gain a better understanding of the psychology of successful trading. The most interesting thing that I learned from this video is that there is a lot of conventional wisdom that we learn from trading books and we readily accept that information as gospel. However, sometimes when we stop to think about what we are actually doing when we are trading well, we are really doing something entirely different.
What did you learn from this video? Did you agree with what she said?
I was hoping to find more info behind the science of it all, tried googling it, but it seems she wants to keep that to herself and her paying customers (she is a coach, after all). In any case, I bought a book recently by John Coates, he’s got a similar background but his interviews (and his book) goes much more in depth. He explains what a trader goes through in terms of emotional, but mostly physical changes in his/her body during different trading scenarios that actually effect the outcome of the trade. In any case, Hugh, if you’re interested in this topic, have a look at the book.
Interesting, thanks for the tip!
We have been working on this trading psychology tool. Your input or review would be greatly appreciated. – http://www.surveygizmo.com/s3/852158/Personal-Trading-Bias Regards,Adam HalpernIndicator Warehouse, President P.S. Let’s stay Connected… Please go HERE and add me to your network -> http://www.linkedin.com/in/indicatorwarehouse
@Adam_Halpern_IW Hey Adam, I’m waiting for the results, but it looks like a great idea.
A lot of useful advises. Just do not listen to someone’s trading advises and analyze data.
Do not control emotions – control your actions. Golden words!