DislikedInterestingly enough I wasn't referring to you. Why do you think its all about you?
I would note in passing that the definition of psychology is "the science of mind and behaviour" and its surprising how often in this thread people think they are supporting the "Psychology is nothing" camp by describing elements of psychology.Ignored
All we're saying is that no amount of psychology will make you a trader. You have to learn to trade.
Obviously, psychology plays a role in learning, trading, day to day life, etc. by definition.
The best illustration I think I've come up with yet is the one from earlier today:
I didn't know what to do. There was stress. I lost money, therefore I did it wrong -- made a mistake.
All wrong.
First wrong conclusion - lost money = doing it wrong.
Knowledge: You can do it right and still lose money on that trade. Over time, you do it right, you make money.
Second wrong conclusion - stress = losing. Stress caused mistake.
Right conclusion: Stress was present, it was a result, not a cause.
Correct conclusion from above scenario - stress resulted from lack of data.