Hey What's up Profitlycrew,
I hope you all are having a nice long holiday weekend. I really am working hard to improve my trading and find ways to create more accountability. I know for myself, i perform at my best when I am being challenged beyond my limitations and put on the spot to showcase my knowledge. However, with trading being a solo job, I need to find ways to a create accountability of poor trading performance and rewards for when i follow the rules. I am looking to create positive reinforcement when i follow the trading rules, and negative consequences for when i don't follow the rules. The gains and losses are not really working anymore, bc i believe that creating a reinforcement plan based on money, will just correlate to emotional responses that will breed inconsistent and fluctuating emotional reactions. i do not want to focus on my emotions in that way.
The goal is to create consistent study habits and trading executions so i can get to the point that my mental state of mind does not react or correlate to the price action of the ticker and the potential gains or losses that could happen. I want to be so focused on the trading plan and execution process, that it will trigger an emotional response on the outcome of a very simple outcome of yes or no. I am happy, bc i followed the rules. I am not happy because i broke the rules. I can make a prediction off of this hypothesis that I could create a consistent positive emotional state of mind with a potential 90% happy to 10% unhappy, by training myself with positive rewards/reinforcement for when I stay disciplined to the rules.
If this is confusing, I will try to simplify it even more ( sorry this is the mind of a psychology and an Engineering degree)
Basically, by rewarding myself with something that will create an overwhelming feeling of happiness, like giving myself 1 hour of video game time.
(The reward needs to be strong enough that it creates its own emotional energy, and its not a forced emotional energy like giving yourself money when you follow the rules.)
So by rewarding myself video game time ONLY if I trade by the rules, I know before I trade and any future trades, I could always generate a positive outcome by the end of the day. Which will keep me in a state of mind that is happy, positive and winning attitude, because even though I may have gains or losses that day, I am judging my performance on something that I CAN control, unlike my gains or losses. As long as I follow the rules, I will get rewarded, Win Win scenario. Therefore, wanting to improve my process and trade executions will then get correlated to rewards of something I can control , like allowing myself 1 hour of video game time. then by staying consistent to this behavior, i will embrace my emotions of trading instead of trying to hide it or deny it. When you deny your body of its emotions, you may lose sight of why you started trading in the first place. But by having this perspective on trading, I can create a job that brings me guaranteed happiness and reduce/stop any poor trading habits like impulse trading.
Let me know what you think about this post and hope this video lesson helps you like it helped me.
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Great video. Thanks for sharing
If it works that's all that matters in the end for the positive.
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