( btw I hope this’ll be an interesting insight Stu )
2 & 3 are linked “rather than be negative, & tailor the method to your personality (i.e. if there's a lack of trades - focusing on becoming more patient etc), focus on solving the reasons why you're having to be patient (that's what I do day to day)”ShaunWhite wrote: ↑Sun Jun 17, 2018 11:25 pm2 is confusing but seems to advocate changing your personality.
3 seems to say find angles to trade at the times you'd otherwise need to be patient.
That’s absolutely what I’m saying. Imagine taking a course, but the strategy being taught lacks frequency – which many of the students cannot handle. Why not understand why the strategy occurs infrequently, & take steps to rectify this? Is this variable completely necessary etc etc? What are the consequences of changing this variable? Etc. Now that type of analysis is incredibly difficult, because the person who solves those questions arguably outdoes the educator. Those IMO are proactive steps, rather than being negative, & changing your personality to fit the strategy.
Why have you assumed the statistical research side has no psychological/logical errors involved?ShaunWhite wrote: ↑Sun Jun 17, 2018 11:25 pmPsychology isn't about tailoring your trading it's about tailoring you. Like me you pour your heart into the statistical research and the strategies but they are only half the story (I won't argue about the use of 'half' it's just a turn of phrase.) The other half is the execution, and that's done by the weak link in the chain, the human. Do you think you are utterly flawless in your execution? Don't you think there is any room for improvement?
I personally believe most people struggle (myself included) because “what they think is edge, isn’t edge”. I reckon if a poll was done of the value of Fibonacci, most would say “it provides predictive value”. Whereas it's actually been proven that it’s no better than random. Yet people will still use it, & wonder why they still aren’t profitable after reading Trading in the Zone.
I’d love to see an entire series from BA on analysis biases & how to solve them in a trading context. For example, how does one solve the bias of “Pareidolia”? I’m currently looking at a technique called “Target Shuffling”. Again the words “target shuffling”, I don’t think have ever been mentioned on the forum. That’s an actionable technique that can be used to negate pareidolia – improve market knowledge - & increase overall profitability. Potentially with no negative consequences (i.e. drop in frequency/scale)
My argument is if I understood that bias – suddenly that solves execution problems, before they even occur.
I don’t understand how the latter changes your personality. If I’m a “greedy/competitive trader” rather than suppress the greed, use it to find more angles in the market. Use it to aggressively increase your trader networking etc. Surely that’s more natural, than trying to castrate the greed through psychological coaching?ShaunWhite wrote: ↑Sun Jun 17, 2018 11:25 pmAre you advocating only trading styles that suit your current personality, or changing your personality so you can exploit every possible situation?
But I think people do it because that info is easily accessible – saturated knowledge. There’s a physical limit to the quality of the execution (android status) – but there’s no limit to the potential of the original strategy. I personally think there’s far more to gain from increasing knowledge of the market, over improving execution. But it’s bloody difficult, no question – that’s why Peter’s are so rare. Hence why the “execution psychology” (assuming you have an edge) is extremely saturated.ShaunWhite wrote: ↑Sun Jun 17, 2018 11:25 pmThe other thing is that many of us won't ever become the perfect trading android and for those people I see nothing wrong with adapting their style to suit their personality. I try and improve 'me' mostly to eliminate the destructive stuff, but I'm never going to be perfect, some imperfections I quite like actually, so I'm going to work with the tools I've been given.
Two types imoShaunWhite wrote: ↑Sun Jun 17, 2018 11:25 pmHang on a minute! You come across as being Mr anti psychology, but who's the person who keeps mentioning all different types of bias and posting up wall charts? What are they if not 100% psychological insights? Utterly pointless apparently?
1. Execution psychology (saturated)
2. Analysis psychology (bone dry – because the answers are hard!)
Let’s take survivorship bias, that’s not useful to a trader during the execution of a strategy – but it certainly can be applied when analysing data.
Don’t get me wrong; I’d love to see an entire series from BA on analysis biases & how to solve them in a trading context. The moment a video comes out on the effectiveness of target shuffling; I’ll be screaming with excitement.
Yah sorry Stu mate, but I really hope that was “different” insight I do like a debate, & hopefully a synergy of “true knowledge” emerges. It’d be borin if we all agreed with each other!ShaunWhite wrote: ↑Sun Jun 17, 2018 11:25 pmSorry to blur your thread stuey but I believe who you are has as a lot to do with your results. Eg Is being selective more profitable, or is it more profitable because you execute it better?