Brett N. Stinberger - Doctor of Philosophy and Professor of Psychiatry at the Medical University in Syracuse, NY. New York. He is also an active trader and writes articles on market psychology. The author of the book "Psychology of Trade, 2003. Doctor Stinberger published over 50 articles on short-term approaches to behavioral change for traders.
I would describe their approach to trade as follows for the trend based on the study. By this I mean that I'm trying to trade on the strength or weakness of the market after it was revealed. However, I do not automatically assume that any trend - my friend. Instead, I use the historical study of market behavior, to distinguish between trend movements that are likely to continue, and those that are most likely to turn. This is a very disciplined approach to trade, which requires considerable time for study and training, as well as the ability to hold the market movements and trade. In his book "Psychology of trading", I referred to the individual characteristics that tend to distinguish successful traders from the less successful. Some of these features will probably also will affect the success of traders, with which they are traded by the method of following the trend. Below are some of the self, which may be useful for determining the face if you considerable difficulties in trading on the market trends. Please answer "yes" or "no" to each of the twelve questions before you continue:
1. When the market goes against you, you often have problems?
2. You enjoy (or enjoyed as a child), Inline Skating, or other forms of entertainment, accompanied by sensations?
3. You will often defer any work?
4. Do you consider yourself vulnerable to a change of mood - sometimes good, sometimes bad?
5. You generally prefer to leave the house and meet with friends rather than stay home and read a good book or watch an interesting movie?
6. You often apologized to the other, because they forgot to do something that should have been done?
7. You are usually inflated, tense or depressed?
8. If you had a choice, you would prefer to try exotic food, about which you have never heard, rather than the familiar dishes?
9. When you have something needed to be done at home, you tend to do so hastily as it will turn out, rather than carefully and thoroughly?
10. After losing the deal, you often feel guilty and looking for a reason directly yourself?
11. Have you tried or regularly use two or more restorative drugs (except alcohol) in your life?
12. You are often late for appointments or events you had planned?
If you answered "yes" to all or most of the questions 1, 4, 7 and 10, you are likely to occupy a very high level on a scale that reflects the "nevrotizm. Nevrotizm - this is the tendency of a negative emotional state, which manifests itself as anger, anxiety or depression.
If you answered "yes" to all or most of questions 2, 5, 8 and 11, you are likely to occupy a high level on a scale called "openness to experimentation." Openness reflects the tendency to seek innovation and risk. If you answered "yes" to all or most of questions 3, 6, 9 and 12, you will potentially occupy a low level on a scale reflecting the "good faith". Integrity measures the extent to which a person focuses on the duties, responsibilities and dependency.
All other things being equal, the individual qualities of an ideal model for the method of following the trend - the high reliability, low nevrotizma and the low level of openness to experimentation. A good follower of the trend followed the rules and systems approach (good faith), will not impulsively join or withdraw from the transactions under the influence of emotions (nevrotizm) and will sell for profit, not for the initiation (low openness). From my experience, some of the best traders in the system are not bright people grandstanding. They are meticulous and good at their studies and performance, and do not allow their emotions or needs dislodge them from the track. On the contrary, people who are inclined to take risks and who yearn for something new, and initiation of action, often impulsive and unwise risks. Very often, neurotic emotions prevail after Losing a series of high-risk transactions. These people are trafficked for the excitation and sense of self, not just for profit. Even if they offer a proven, profitable trading system, they will not be able to faithfully follow it. System traders often focus their energies on research and determining the optimal parameters to improve the profitability of the system. Equally important is to find a trading strategy that would be consistent with the identity of the trader. Traders who are relatively unwilling to take risks can be traded for more than short-term time scales and / or a lower position than those who are more tolerant of risk. Traders with a higher propensity for innovation and initiation can trade in more markets or market-based instruments, rather than concentrate on relatively few. Are there people who are simply not set up for trade? I would say that yes, as some people may not be a fighter pilot or surgery. Is difficult to imagine the trader sought to be consistent and sustained success without the ability to take disciplined risk. There is nothing unusual is to find a trader who is losing in the approach are following the trend, because it does not reach the market to their individual needs. One of the best trading strategies that can be used, is to find appropriate outlets for attention / affection, achievement, self-esteem, emotional satisfaction and excitement out of the market. Sometimes the traders with whom I spoke, and explained to me that trade is the rest of their lives. They do not realize that their "passion" and "obsession" with respect to markets is likely to seek their plans, giving them undue pressure. If you have a trading system, and you will faithfully execute the system, the trade must be to some extent, boring and monotonous. Better to enjoy roller skating in their spare time than the "ride" on your trading account!
I would describe their approach to trade as follows for the trend based on the study. By this I mean that I'm trying to trade on the strength or weakness of the market after it was revealed. However, I do not automatically assume that any trend - my friend. Instead, I use the historical study of market behavior, to distinguish between trend movements that are likely to continue, and those that are most likely to turn. This is a very disciplined approach to trade, which requires considerable time for study and training, as well as the ability to hold the market movements and trade. In his book "Psychology of trading", I referred to the individual characteristics that tend to distinguish successful traders from the less successful. Some of these features will probably also will affect the success of traders, with which they are traded by the method of following the trend. Below are some of the self, which may be useful for determining the face if you considerable difficulties in trading on the market trends. Please answer "yes" or "no" to each of the twelve questions before you continue:
1. When the market goes against you, you often have problems?
2. You enjoy (or enjoyed as a child), Inline Skating, or other forms of entertainment, accompanied by sensations?
3. You will often defer any work?
4. Do you consider yourself vulnerable to a change of mood - sometimes good, sometimes bad?
5. You generally prefer to leave the house and meet with friends rather than stay home and read a good book or watch an interesting movie?
6. You often apologized to the other, because they forgot to do something that should have been done?
7. You are usually inflated, tense or depressed?
8. If you had a choice, you would prefer to try exotic food, about which you have never heard, rather than the familiar dishes?
9. When you have something needed to be done at home, you tend to do so hastily as it will turn out, rather than carefully and thoroughly?
10. After losing the deal, you often feel guilty and looking for a reason directly yourself?
11. Have you tried or regularly use two or more restorative drugs (except alcohol) in your life?
12. You are often late for appointments or events you had planned?
If you answered "yes" to all or most of the questions 1, 4, 7 and 10, you are likely to occupy a very high level on a scale that reflects the "nevrotizm. Nevrotizm - this is the tendency of a negative emotional state, which manifests itself as anger, anxiety or depression.
If you answered "yes" to all or most of questions 2, 5, 8 and 11, you are likely to occupy a high level on a scale called "openness to experimentation." Openness reflects the tendency to seek innovation and risk. If you answered "yes" to all or most of questions 3, 6, 9 and 12, you will potentially occupy a low level on a scale reflecting the "good faith". Integrity measures the extent to which a person focuses on the duties, responsibilities and dependency.
All other things being equal, the individual qualities of an ideal model for the method of following the trend - the high reliability, low nevrotizma and the low level of openness to experimentation. A good follower of the trend followed the rules and systems approach (good faith), will not impulsively join or withdraw from the transactions under the influence of emotions (nevrotizm) and will sell for profit, not for the initiation (low openness). From my experience, some of the best traders in the system are not bright people grandstanding. They are meticulous and good at their studies and performance, and do not allow their emotions or needs dislodge them from the track. On the contrary, people who are inclined to take risks and who yearn for something new, and initiation of action, often impulsive and unwise risks. Very often, neurotic emotions prevail after Losing a series of high-risk transactions. These people are trafficked for the excitation and sense of self, not just for profit. Even if they offer a proven, profitable trading system, they will not be able to faithfully follow it. System traders often focus their energies on research and determining the optimal parameters to improve the profitability of the system. Equally important is to find a trading strategy that would be consistent with the identity of the trader. Traders who are relatively unwilling to take risks can be traded for more than short-term time scales and / or a lower position than those who are more tolerant of risk. Traders with a higher propensity for innovation and initiation can trade in more markets or market-based instruments, rather than concentrate on relatively few. Are there people who are simply not set up for trade? I would say that yes, as some people may not be a fighter pilot or surgery. Is difficult to imagine the trader sought to be consistent and sustained success without the ability to take disciplined risk. There is nothing unusual is to find a trader who is losing in the approach are following the trend, because it does not reach the market to their individual needs. One of the best trading strategies that can be used, is to find appropriate outlets for attention / affection, achievement, self-esteem, emotional satisfaction and excitement out of the market. Sometimes the traders with whom I spoke, and explained to me that trade is the rest of their lives. They do not realize that their "passion" and "obsession" with respect to markets is likely to seek their plans, giving them undue pressure. If you have a trading system, and you will faithfully execute the system, the trade must be to some extent, boring and monotonous. Better to enjoy roller skating in their spare time than the "ride" on your trading account!
Forex Magazine
based on www.brettsteenbarger.com
based on www.brettsteenbarger.com
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