Trading Psychology Stage


Weekly Newsletter1070: Get An Edge With the Trading Psychology Course + Levels for the Trading Week Ahead 10.11.2021

October 8th, 2021 Filed under Day Trading, futures trading education, Weekly Newsletter | Comment (0)

Cannon Futures Weekly Letter Issue # 1070

Dear Traders,

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Get An Edge With the Trading Psychology Course

“You Must Understand That There Is More Than One Path To The Top Of The Mountain.”- Miyamoto Musashi, A Book Of Five Rings: The Classic Guide To Strategy
Many experienced traders say that the stiffest challenge you’ll face in becoming a futures trader is conquering your own psyche. Why? Because losing is part of trading, and people hate to lose.
In this “Trading Psychology” Course you will learn:
  • How to examine your patterns and behaviors and recognize when they are holding you back
  • Maintaining self-confidence as a trader even in the face of inexperience
  • The mathematical expectation model and how it can decrease your losses
  • Determining the trading plan that is right for your trading personality
  • Understanding and using Motivation – Risk – Reward to its full advantage
  • Creating effective trading technique strategies
  • Qualities of Successful Traders

Good Trading

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.

 

Futures Trading Levels

10-11.2021

Support & Resistance Levels 10-11-2021

 

Weekly Levels

Weekly Support and Resistance Levels

 

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

MRCI Reports

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading


Trading Psychology Stage 1 Blissful Unawareness, January 24, 2011

January 22nd, 2011 Filed under Trading Guide, Trading Webinar | Comments Off on Trading Psychology Stage 1 Blissful Unawareness, January 24, 2011

by RealityTrader on Jan 10, 2011

As we mentioned in the previous article, first stage is usually the one where a newer trader doesn’t acknowledge the role of psyhcology in his trading. It happens out of ignorance or arrogance.

In a former case (ignorance) it’s simply lack of knowledge and mistaken notion that one can trade succeffully if given “right” system or indicator ot tip or whatever causes one to enter and exit his/her positions. It usually takes a while before a trader starts seeing how his mindset influences his trading and how his personal traits shine through his trading decisions. It comes as a surprize realization that different traders will get different results while trying to apply the same system. It is counter-intuitive, isn’t it?

In a latter case (arrogance), a trader shows some kind of denial – it’s “not me” attitude, thinking that goes along the lines “maybe it’s a problem for some but I am in control of myself,” “this stuff is for weak-minded” etc. Needless to say, it’s rarely the case… and even more importantly, it’s not so much about weak vs. strong mind as it is about influence one’s personality has over one’s trading.

In any case, the important thing at this stage is to come to appreciate this aspect of trading. It happens when one sees how much truth there is in saying “everyone gets what they want out of market” (Ed Seykota I think?) Again, seems counter-intuitive, right? After all, don’t we all want to succeed, to make winning trades, to make money? Sure… but it’s not about what our conscious mind wants, it’s about what our inner core dictates, and that is not always easy to realize and control.*

Simple example to illustrate the idea: do you know people who repeat certain behavior patterns harmful to themselves? Getting themselves into relationships with the types that make them miserable, over and over again? Repeating the same mistakes in their interaction with others, obviously not learning from the past? I bet you do (although you personally never act like this, right?) So, why do we do it even though we see (or could see if we looked) that these behavioral patterns hurt us? Because those patterns are not just some easy to break habits; rather they are a part of our personality, of who we are, and it takes much more than simple decision not to do that anymore to change our ways. Pretty much the same thing happens in trading – we know what not to do yet we continue doing it.

As soon as one realizes all this, the first stage is completed. The role of psychology in trading is acknowledged, denial is over – and this forms the foundation for a change.

*My favorite example of this phenomenon is the Russian movie Stalker. The plot line briefly: there is a certain machine granting wishes (stalkers in the movie are the people who take clients to it through the many dangerous traps). The machine grants wishes alright but there is catch: it’s not a wish that you stand in front of the machine and announce that will be granted… it’s a wish that constitutes your essence, your core, your deep desire – and it’s not necessary the one you realize and announce to yourself and to the world. Pretty much what happens in trading and pretty much what the author of that saying (everyone gets what they want in trading) meant.

Vadym Graifer is an author of the unique A Taoist Trader course devoted to trading philosophy and psychology

To read the rest of the articles in this series go to: http://www.traderplanet.com/profile/RealityTrader

GOOD TRADING!

TRADING LEVELS!

futures-trading-levels-20110124

Economics Report Source: http://www.forexfactory.com/calendar.php

Monday, January 24, 2011

Treasury Currency Report
Tentative USD

Tuesday, January 24, 2011

HPI m/m
9:00am USD

CB Consumer Confidence
10:00am USD

HPI m/m
10:00am USD

Richmond Manufacturing Index
10:00am USD

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Company, Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!

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