This psychologist's husband just so happens to be a trader, so she had in my opinion a good deal of knowledge and background with the subject. So here we go.
She said to wear a heart rate monitor while trading, and whenever you heart rate got above 100 bpm, DO NOT ENTER A TRADE. Why? The switch in our brain from I guess you would say Knowledge and Emotion flips at 100 bpm. At 100 you go from thinking clearly to pure emotion. I don't know about you but when I get all emotional in trading, FAILURES start to happen.
INTERESTING HUH?
So I am going to try this out. I generally have taken all emotion out of trading now that I use Euodoo. Once that thing is set Im committed win or lose, and I know how to get the loss back without revenge trading.
She also pointed out that the gut feeling that you get sometimes is real and you SHOULD listen to it. No not the grumbling in your stomach you get because you have been staring at charts for 24 hrs and forgot to eat, shower and shave (yes Im guilty of that too). But when you just have this very strong, can't put your finger on it, can't formulate a sentence to explain it GUT FEELING.
You cannot explain it because she said that part of your brain that the gut feeling comes from is not tied into speech. That is why its hard to explain where and why you are having that feeling. Now I know I have had gut feelings, call out a trade, not get in it and it pay 100's of pips. I have started listening to my gut when it lines up with my rules for certain trades, and have started to see higher returns from it.
I personally cant wait to have a session with this lady now, she has me intrigued. Everything she said made sense to me. You can take it or leave it. I got my heart rate monitor on.
Pip Tee
That makes a lot of sense!! I might need to get myself one of those monitors.
ReplyDeleteI've also been saved pips or negative pips when I get that gut feeling telling me to exit a trade.
Thanks for the great write up.