Trading Psychology Practical Tips, Part 4

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Feedback loops.

  • Need a person outside of yourself. Here are 3 ways to do that:
    • Can be a friend.
      • They hold you accountable, but not necessarily better than you to actually help you.
    • Can be a trading room.
      • You watch their trading, but you really need someone to watch YOUR trading.
      • Makes you dependent.
        • Only security is to have a skill you own.
        • Be self-empowered.
    • Can be a coach.
      • Only way this works well is if they look at YOUR trades and give you the feedback.