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  Discussions  Psychology and Trading  Can't teach old...
 Re: Can't teach old dogs new tricks
 
 5/16/2007 8:05:14 AM
User is offlineBrianTran
155 posts
5th




Re: Can't teach old dogs new tricks
Using last experience to predict the next trade outcome --This is possibly the most frustrating way of trading. Learning from the last trade and thinking that the next trade will result the exact same way. This lacks the element of flexibility but actually rigid way of thinking in approaching the market. Instead of evaluating the entire sets of past trades, using the last one and carry the emotional baggage to the next one will one add more baggage to distort the reality in the next trade.

In childhood, we learn not to touch the stove once we got burned. We use that last experience not to repeat it. But we come to use it with respect and caution. The problem is that the market is so dynamic that the experience could have many factor affecting that result. Approaching the market with open mind and flexibility would better the chance of understanding the market and use it to take profits from it.
The sum is greater than its parts.
 5/16/2007 8:20:42 AM
User is offlineBrianTran
155 posts
5th




Re: Can't teach old dogs new tricks
Using last experience to predict the next trade outcome --This is possibly the most frustrating way of trading. Learning from the last trade and thinking that the next trade will result the exact same way. This lacks the element of flexibility but actually rigid way of thinking in approaching the market. Instead of evaluating the entire sets of past trades, using the last one and carry the emotional baggage to the next one will one add more baggage to distort the reality in the next trade.

In childhood, we learn not to touch the stove once we got burned. We use that last experience not to repeat it. But we come to use it with respect and caution. The problem is that the market is so dynamic that the experience could have many factor affecting that result. Approaching the market with open mind and flexibility would better the chance of understanding the market and use it to take profits from it.
The sum is greater than its parts.
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