Your book contains some of the most valuable info on forex available for free. Not the most popular tho, as you can see... But this site is for novice traders. When we first start, we want to be shown how to make a million $ quick. when to get in and when to get out. Ideally a colorful chart full of Up and Down arrows to tell us what to do...
Don't be discouraged by poor response to your book here. Your info is pure gold; one of the reasons i recently joined your Pro Traders Club as well.
Keep up the good work. Some of us find it immensly valuable.
Hi DC... Thanks for the comments. Yes, your insights on new traders is accurate. Humans tend to avoid risk activities. However, in trading, it can't be avoided. Thus, as one who is risk averse takes on the trading discipline, they will deny its risk element and expose themselves to its very destructive nature. While managing risk dissolves extreme emotional gyrations, which allows one to build a trading model and achieve success. But you're right, people don't want to hear this stuff any more than they want to manage risk.
I'm glad you enjoyed the read. I'm writing a book for Wiley on psych and risk now. Thanks for being in Pro Traders Club. I hope it helps. Please send your q's.
You are what you do, trade with discipline. Chris Lori, CTA
An excellent Coping Style or cognitive behavioral attitudes could protect from losses.
Take a look at "Attribution theory" (e.g. Locus - location of the cause - internal (dispositional) or external (situational) to the person; closely related to feelings of self-esteem; if success or failure is attributed to internal factors, success will lead to pride and increased motivation, whereas failure will diminish self-esteem) and work out the ideas of "stability" and "controllabilty" - for a first overview maybe at psychology portal at wikipedia).
Yes, understanding the uniqueness of your psychological profile is critical to becoming an independent thinker, which is the foundation in the transition to success.
Houdini
You are what you do, trade with discipline. Chris Lori, CTA
Forex Cube... Yes, coping mechanisms are critical at the early stages of development as a trader. It helps to have the capacity to understand your coping mechanisms used with other life experiences and modify the behaviours specifically to dealing with the emotional gyrations trading can generate. If a conversion from previous life experiences are not adapted, then some shock will be inevitable as one works to build proper risk models to their unique style of trading.
You are what you do, trade with discipline. Chris Lori, CTA
It was nice to be back at the Olympic games. Observing athlete's behaviour was a good reminder of my immersion in the process and all that transferred from sport into trading. The hard road in sport was a preparation I wouldn't replace for anything.
You are what you do, trade with discipline. Chris Lori, CTA
Trading the forex or other markets doesn’t have anything with pain, psychology or improvement: the only law is: if you know, you win, if not you lose!
You who have already lost everything and are looking for a way to get your money back, stay away from all the EA’s, indicators, softwares as Metatrader, Jigsaw, Sierra, Bookmap and all other. Understanding the options on the futures is the only thing that will help you efficiently. You ‘ll never find anything to help you on forex website.
Finally, think about that: universal access to financial markets is a huge opportunity to get rip off millions of naive people! YOU JUST GIVE LIQUIDITY TO THE MARKET MAKERS VIA YOUR BOKER !