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Day Trading vs. Swing Trading vs. Position Trading 86 replies

trading superstition

  • #1
  • First Post: Jun 24, 2010 2:36pm Jun 24, 2010 2:36pm
Anyone else feels superstition while trading? I'm sure if you trade long enough, you will feel superstition at some point of your life.

Second thing is curve fitting, at the beginning most of us follow "systems" and chart patterns.. there must be at least 10,000+ systems floating around.. candlestick patterns as well.

I found this lecture on our brain functions and now all seems to be pretty clear. EMH rules!

Link
  • #2
  • Jun 24, 2010 3:19pm Jun 24, 2010 3:19pm
Very interesting video. Thanks for sharing.
Not all sins are created equal
  • #3
  • Aug 7, 2010 12:26am Aug 7, 2010 12:26am
Hey Jay is that Mr.Strangelove on your profile? ha ha I bet, damn thats some old movie.

anyway, found another TED talk, explaining why we humans often think in relative terms (refuse to accept loss) etc. It seems we humans are wired wrongly!

Laurie Santos: A monkey economy as irrational as ours
http://www.ted.com/talks/laurie_santos.html
  • #4
  • Aug 7, 2010 3:33am Aug 7, 2010 3:33am
Quoting im7i4z
Hey Jay is that Mr.Strangelove on your profile? ha ha I bet, damn thats some old movie.

anyway, found another TED talk, explaining why we humans often think in relative terms (refuse to accept loss) etc. It seems we humans are wired wrongly!

Laurie Santos: A monkey economy as irrational as ours
http://www.ted.com/talks/laurie_santos.html
Yep. Peter Sellers as Dr. Strangelove. Old movie but a damn good one
Not all sins are created equal
  • #5
  • Aug 7, 2010 11:16am Aug 7, 2010 11:16am
The last part of the video is hilarious
  • #6
  • Aug 8, 2010 1:07am Aug 8, 2010 1:07am
Quoting im7i4z
Second thing is curve fitting, at the beginning most of us follow "systems" and chart patterns.. there must be at least 10,000+ systems floating around.. candlestick patterns as well.


Link
Excellent video. Not only the seeing of patterns, but how we assign different meanings to them depending on our immediate circumstance--like you said: curve fitting to support our expectations.
  • #7
  • Aug 8, 2010 3:05am Aug 8, 2010 3:05am
Quoting Jay Walker
Yep. Peter Sellers as Dr. Strangelove. Old movie but a damn good one
yah I remember perhaps Dr.Strangelove was stanley kubrick's funniest movie ever!

billflet: The whole trading industry is addicted to curve fitting, good for the brokers, and every other middlemen who leeches on transactions, bad for our wallets :-)
  • #8
  • Aug 8, 2010 3:29am Aug 8, 2010 3:29am
ok so what do u advise using cocaine or what?
  • #9
  • Aug 8, 2010 10:56am Aug 8, 2010 10:56am
Quoting mistersimple
ok so what do u advise using cocaine or what?
Probably would work as good as anything else, except the lines keep disappearing.

Seriously, cocaine and it's effects on us finding patterns is mentioned in the link.
  • #10
  • Aug 8, 2010 10:59am Aug 8, 2010 10:59am
I tried backtesting this system but it never takes any trades!
You are in a maze of twisty little passages, all alike.
  • #11
  • Aug 8, 2010 11:41am Aug 8, 2010 11:41am
I have a trading superstition...

... I deeply believe that it was written in the stars
that I am a success and that I possess the Midas touch.

Coincidently... it is true... though I have an analytic mind and don't believe in superstitions (anymore)... I like to think of it as a placebo effect it had on my life.
  • #12
  • Aug 8, 2010 5:49pm Aug 8, 2010 5:49pm
Quoting mistersimple
ok so what do u advise using cocaine or what?
Seriously, I thought indicators costs more than cocaine (if you consider the loss of equity due to the use!), and some of us are more addicted to MA/Blah Blah crossovers than lethal drugs ROFL..

Under the circumstances, using actual cocaine will be much more cheaper and have less financial implications. Plus point is instead of getting panic attacks from trading M1/M5 charts, you can get high and relax before going back to the shitty day job ;-)
  • #13
  • Aug 9, 2010 1:16am Aug 9, 2010 1:16am
Quoting im7i4z
Seriously, I thought indicators costs more than cocaine (if you consider the loss of equity due to the use!), and some of us are more addicted to MA/Blah Blah crossovers than lethal drugs ROFL..

Under the circumstances, using actual cocaine will be much more cheaper and have less financial implications. Plus point is instead of getting panic attacks from trading M1/M5 charts, you can get high and relax before going back to the shitty day job ;-)
I agree, but perhaps some good quallity buddah smoke would do the job better? LOL
  • #14
  • Aug 9, 2010 10:20am Aug 9, 2010 10:20am
Quoting belekas
I agree, but perhaps some good quallity buddah smoke would do the job better? LOL
You forgot to add the risk disclosure statement and "Don't Try This At Home" thing!
  • #15
  • Last Post: Aug 10, 2010 3:08am Aug 10, 2010 3:08am
Quoting im7i4z
You forgot to add the risk disclosure statement and "Don't Try This At Home" thing!
"Forbidden fruit is the sweetest", you know what I mean mate
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