Is “Trading Psychology” just a scam or a hoax?
Some think that perhaps yes, indeed it is.
“It is certainly used more often to explain one’s failure than helping one to become successful.” is how one trader expressed feeling about the matter.
I’ve heard of some “Trading Psychologists” that want you to believe that you need a year’s worth of ‘therapy’ and to invest upwards of $8,000 to resolve your trading issues.
Because so many traders come to me having given a very reasonable effort with the traditional approach, but still not gotten where they want to be, I believe there is more to the story than just ‘Discipline’ or ‘Mommy-Daddy” issues.
And that the notion that there’s something wrong with you is just plain incorrect.
You’ve already demonstrated that you have what it takes to succeed.
If you weren’t sufficiently ‘okay’ with money, success or discipline, you wouldn’t be in a position to trade.
Just the fact that you got this far is proof that you’ve got the goods.
So let’s step back for a minute…
Since the act of trading is a decision-making process, it only stands to reason that the mental game plays a major part in your performance and your ultimate success or failure.
BUT…
Is it possible that the traditional approaches to ‘trading psychology’ have been missing one or more key elements, and that is why the problems they try to alleviate persist?
Is it possible that the “Psychological” approach been addressing only SYMPTOMS and NOT the underlying cause of the problems being experienced?
So then is it also possible…
…since your trading is guided by your trading system…
Is it possible that if you are trying to trade with a system that is somehow flawed, that this could contribute to your emotions flaring up, and actually be creating the discipline problems?
And by attending to the issues with your trading system, thus alleviate the “psychological” issues?
For more on this thought process, and what you can do to get past your issues
Cheers
Brian