Good work done on Friday – lots of thought/study/detail. Today I am going to have a look through some of Chapter 2. But I am also going back over the overview-diagram to see where/how it all fits together.
Questions I need to answer:
- Typically, what are the emotional states that I am in most of the time? During trading sessions, when I am actually trading? What emotional state(s) am I when I am working on the structure of the trading operation as a whole e.g. working on strategy development or working on psychology, or on tools development such as MT4 dashboards or checklists? What emotional state(s) am I in when I am with friends, at the cinema, doing sport, drinking beers, chatting over coffee?
- What behavioral patterns are linked to which emotional state(s)? Which emotional state(s) trigger what behavioral patterns?
- Which behavioral patterns trigger the Proficient Trader to take control? Which behavioral patterns awake the Destructive Trader?
- Can the emotional states and/or behavioral patterns be easily categorised/matched to my different trader personalities? Most likely yes.
- What are examples of emotional states? I guess the list is endless. How can I determine/assess my emotional state at any point in time?
- Will thinking about myself in this manner ultimately crack me up or make me crazy?
- Maybe the concept of a documented/structured trading strategy is a hoax. Maybe it’s more about being fluid, reading the market, being adaptable and flexible?
I don’t know the answer to all of these questions (at this point) – however it’s good that I have realized that I need to answer them. The fact that I have raised them makes it more likely that I will be able to answer them at some point.
How do I want to “feel” when I am trading? => Further ways to describe the Proficient Trader
- In Control
- Smart & Intelligent
- Aggressive but not overly so
- Analytical & Observant (added 9/4)
What feelings do I NOT want to have when trading? => Further ways to describe the Destructive Trader
I just realized that, without thinking about it, I listed the desired feelings as verbs, but I listed the negative ones as nouns. It’s like I am saying “I want to BE like this, and I don’t want to HAVE any of that”. I am trying to digest the positive things and make it part of me, and I want to disassociate myself from the negative ones. Hmmmm, very interesting observation.