The Ingredients Necessary for Trading Success
A very good TedTalk that is equally applicable to traders.
I have talked about this aspect of trading many times in my writings:
1. practice, practice and more practice
2. objective evaluation of self
3. eliminate bad habits by promoting good ones
4. self-confidence is a necessity to reinforce 1 to 3
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Paul Ekman is the real life psychologist that the TV series Lie To Me is based on. This video is mainly not about the micro expression techniques he’s discovered (invented?) to catch liars. This video is about understanding yourself, especially the emotional state, through observations of your own physical expressions.
It is something very useful for those traders who find themselves easily snap into various extreme emotional states like anger, fear or greed.
Listen to the guy and see if you can pay more attention to your current state of mind.
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An interesting video on learning.
This is an interesting concept worth exploring some more. To be specific, I wonder if it is possible to break down the core elements in trading into parts that newcomers can learn more quickly and effectively.
One thing I know for sure though is that blank staring at the computer screen is not training yourself to understand a market. That does not contribute to your 10,000 hours to become an expert in trading unless you really focus and pay attention to what you are observing.
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