Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
Venezuela’s Hyperinflation Drags On For A Near Record—36 Months - 18th Nov 19
Intellectual Property as the New Guild System - 18th Nov 19
Gold Mining Stocks Q3’ 2019 Fundamentals - 18th Nov 19
The Best Way To Play The Coming Gold Boom - 18th Nov 19
What ECB’s Tiering Means for Gold - 17th Nov 19
DOJ Asked to Examine New Systemic Risk in Gold & Silver Markets - 17th Nov 19
Dow Jones Stock Market Cycle Update and are we there yet? - 17th Nov 19
When the Crude Oil Price Collapses Below $40 What Happens? PART III - 17th Nov 19
If History Repeats, Gold is Headed to $8,000 - 17th Nov 19
All You Need To Know About Cryptocurrency - 17th Nov 19
What happens To The Global Economy If Oil Collapses Below $40 – Part II - 15th Nov 19
America’s Exceptionalism’s Non-intervention Slide to Conquest, Empire - and Socialism - 15th Nov 19
Five Gold Charts to Contemplate as We Prepare for the New Year - 15th Nov 19
Best Gaming CPU Nov 2019 - Budget, Mid and High End PC System Processors - 15th Nov 19
Lend Money Without A Credit Check — Is That Possible? - 15th Nov 19
Gold and Silver Capitulation Time - 14th Nov 19
The Case for a Silver Price Rally - 14th Nov 19
What Happens To The Global Economy If the Oil Price Collapses Below $40 - 14th Nov 19
7 days of Free FX + Crypto Forecasts -- Join in - 14th Nov 19
How to Use Price Cycles and Profit as a Swing Trader – SPX, Bonds, Gold, Nat Gas - 13th Nov 19
Morrisons Throwing Thousands of Bonus More Points at Big Spend Shoppers - JACKPOT! - 13th Nov 19
What to Do NOW in Case of a Future Banking System Breakdown - 13th Nov 19
Why China is likely to remain the ‘world’s factory’ for some time to come - 13th Nov 19
Gold Price Breaks Down, Waving Good-bye to the 2019 Rally - 12th Nov 19
Fed Can't See the Bubbles Through the Lather - 12th Nov 19
Double 11 Record Sales Signal Strength of Chinese Consumption - 12th Nov 19
Welcome to the Zombie-land Of Oil, Gold and Stocks Investing – Part II - 12th Nov 19
Gold Retest Coming - 12th Nov 19
New Evidence Futures Markets Are Built for Manipulation - 12th Nov 19
Next 5 Year Future Proof Gaming PC Build Spec November 2019 - Ryzen 9 3900x, RTX 2080Ti... - 12th Nov 19
Gold and Silver - The Two Horsemen - 11th Nov 19
Towards a Diverging BRIC Future - 11th Nov 19
Welcome to the Zombie-land Of Stock Market Investing - 11th Nov 19
Illiquidity & Gold And Silver In The End Game - 11th Nov 19
Key Things You Need to Know When Starting a Business - 11th Nov 19
Stock Market Cycles Peaking - 11th Nov 19
Avoid Emotional Investing in Cryptocurrency - 11th Nov 19
Australian Lithium Mines NOT Viable at Current Prices - 10th Nov 19
The 10 Highest Paying Jobs In Oil & Gas - 10th Nov 19
World's Major Gold Miners Target Copper Porphyries - 10th Nov 19
AMAZON NOVEMBER 2019 BARGAIN PRICES - WD My Book 8TB External Drive for £126 - 10th Nov 19
Gold & Silver to Head Dramatically Higher, Mirroring Palladium - 9th Nov 19
How Do YOU Know the Direction of a Market's Larger Trend? - 9th Nov 19
BEST Amazon SMART Scale To Aid Weight Loss for Christmas 2019 - 9th Nov 19
Why Every Investor Should Invest in Water - 8th Nov 19
Wait… Was That a Bullish Silver Reversal? - 8th Nov 19
Gold, Silver and Copper The 3 Metallic Amigos and the Macro Message - 8th Nov 19
Is China locking up Indonesian Nickel? - 8th Nov 19

Market Oracle FREE Newsletter

$4 Billion Golden Oppoerunity

Trading Financial Markets Around the Block

InvestorEducation / Learn to Trade Jun 15, 2009 - 07:53 AM GMT

By: Dr_Janice_Dorn

InvestorEducation

He that lives upon hope will die fasting… Benjamin Franklin

A man had constant dizzy spells and searched everywhere to find a cure.


He told a close female friend about it, who advised, “Walk around the block four times on Sunday afternoon.”

The man followed the advice, and then complained to his friend, “I did what you said, but still feel dizzy. In fact, I feel even more dizzy than before!”

She replied.  “ Interesting.  The same thing happened to me.”

In trading and in life, it is critical to ask yourself:  What sources of information are guiding my actions?  Have I checked the facts, or am I simply relying on the word of this or that person? Have I applied common sense and my own study to this situation, or am I acting impulsively or instinctually?  Is my primitive rat brain really out to get me this time, or am I taking the higher road and using my frontal  brain areas to overcome fear and greed?  This is a recurring theme in the writings at www.thetradingdoctor.com where we show you how your brain sees and reacts to trading signals and setups and what to do to put the odds of winning in your favour.

Among the most important questions for you to ask is:  What do I believe that is not true?   This must become a mantra for you if you are to succeed in trading because you are trading your beliefs against the beliefs of others. Constantly question your own belief system.  This leads you to question what others are saying. It forces you to turn down the noise and focus on the signal in the here and now.

Lazy thinking leads to lazy trading that leads to losses.  The incessant drumbeat of self-deception is magnified by the unending amount of misinformation and disinformation that bombards your senses during the trading day.  Be vigilant.  Question everything and everyone, including me.  There are no gurus except for you.   You, more than anyone else in the world, know your risk tolerance.  If a position is not working, it is not a good position. Get out. Cut losses.  If you see another opportunity in the same stock, have the courage to get right back in.  Don’t allow your rat brain to “dope-amine” you to the point where you deceive yourself by holding and hoping as losses mount--- or are frozen in fear from taking even a small loss.  

On Monday, we got into a trade at www.thetradingdoctor.com.  It went against us almost immediately, and we stopped out for a loss of .19 or -1.59%.  Within the next hour, we re-entered the same position and took profits of $1.08 or 9.38% the following morning.  Our theory on the first try was proven by the market to be incorrect; on the second entry we were on the right side of the market fluctuations and the trade was profitable.   No matter how much or what type of analysis you do prior to entering a trade, the final arbiter is the markets.  All that is real and true is if you are (or are not) in synch with the flow of orders in the markets at that time.

The financial markets are saturated with hype and deception.  Learn to see past these, and become alert to anything that sounds just too good to be true.  If it sounds too good to be true, it most likely is.  The tragedy of trading is that that even the most alert and rational among us can be fooled.  This is one reason why the search for trading truth is a lifetime journey that no one ever fully completes.

Hope is a good breakfast, but it is a bad supper… Francis Bacon

Until Next Time,
Good Trading and Brain On!

By Dr. Janice Dorn, MD, PhD
Prescriptions for Profits
www.thetradingdoctor.com

Signup for your risk-free subscription to the Trading Doctor Newsletter. If you are not completely satisfied that our newsletter is for you just let us know, via email, within 7 days of your subscription date and we'll immediatly refund your money.

© Copyright 2006-09 -- Janice Dorn, M.D., Ph.D. -- Ocean Ivory LLC

Dr. Janice Dorn is a graduate of the Albert Einstein College of Medicine, where she received her Ph.D. in Neuroanatomy. She did her postdoctoral work in Neurophysiology at the New York Medical College. She received her M.D. from La Universidad Autonoma de Ciudad Juarez, did one year of clinical clerkships in Phoenix, Arizona. and then completed a Neurology Internship at The University of New Mexico in Albuquerque. For the past twelve years, Dr. Dorn has focused her attention on trading, mentoring and commentary in the financial markets, with emphasis on Behavioral NeuroFinance, Mass NeuroPsychology, Trading NeuroPsychology, Futurism and Life Extension. A graduate of Coach University, she is a full time futures trader and trading coach.  Dr. Dorn is the author of over 300 publications, relating to Trading and Investing Neurouropsychology, Market Mass Neuropsychology, Behavioral Neurofinance, and Holistic Wellness and Longevity. 

Dr. Janice Dorn Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

TraderJoe
15 Jun 09, 09:13
Failed Traders

Janice, you talk the talk but you don't walk the walk.

You fit my definition of a failed trader that has to resort to charging newbies $150 a MONTH for your worthless trading signals, rather than making monety trading on your own account.

readers beware ! Don't get sucked !


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules