When you’re working toward a goal, you are essentially saying, “I’m not good enough yet, but I will be when I reach my goal.”
The problem with this mindset is that you’re teaching yourself to always put happiness and success off until the next milestone is achieved. “Once I reach my goal, then I’ll be happy. Once I achieve my goal, then I’ll be successful.”
Recognize the situation that triggers your self-destructive action. Write down those all-too-familiar conditions, or circumstances, that lend themselves to activating negativity within you (e.g., all the things done, or said, that push your buttons). Also, write down how you are going to consciously recognize them during the day as they happen. Now, next to each item, write down what systems and processes you will implement to avoid letting that situation become emotional.
Create new habits. Having recognized the situation(s) that trigger your bad habit(s), you now need to identify and implement the new actions, or habits. Think about what exactly this would be for you and write your answer next to each item. Example, your negative habit when trading is to worry about getting into the market quickly so as not to miss out on a great opportunity and yet, by being impatient and not waiting for the right set-up, you recognize that you may be rushing presumptuously into a bad trade. Knowing this, write down that when you recognize the rising emotion of stress or anxiety—feeling like you are missing out—that you will consciously remind yourself that there is no such thing as the trade of the century, that there are over a thousand trading opportunities in a day and this isn’t the only one.
Last Close :8119 level.
Above is Daily Chart of Nifty Future
Above 8136 if sustains will take to 8160 level.
It kissed 8148 & Crashed.Our Mantra was :Below 8096 level if trades with volumes it will crash to kiss low of 8072-8064 level.
Intraday It kissed low of 8072 & taken Sharp Reversal !!
Today will face Hurdle at 8136—–8144 level.
Yes ,Now if crosses 8144 with volumes and stays for 15-20 minutes will take to 8168-8176 level in hrs only.
No Need to change levels @ all.
Support at 8096…………….Break with volumes will take to 8072—-8064 level in panic.
Major Support at 8040———-8000 level.
101% ,If Breaks and closes below 8000 for 3 Consecutive DAYS ,Watch PANIC upto 7880—7840 level.
Never Act Blind in Market ,Never Shout ,Never Bark ,Never Watch Blue Channels ,Never Follow Fundamentals ,Don’t Trust Balance Sheets (Cheats )
Just Respect FIIs Flow +USD Movement !
Great Relief for Country :OIL +GOLD Down……..
We Told to Buy 8000-7900 Put ,Yes…….Still Holding and Intraday Game if u are Holding then Mind blowing money u can mint !
More Details to our Subscribers ,Updated at 7:17/12th Sept/Baroda/India
The notion that humans are Homo economicus, rational economic decision makers, has taken some serious hits ever since people bought more than 1.5 million Pet Rocks in the 1970s. Research in behavioral economics shows that we are typically more generous in economic games than logic would predict, that we will pay to spitefully punish freeloaders and that we tend to make rapid emotional decisions—and then struggle to rationalize them. A new study adds to this theme by showing how a class of stress hormones can distort decision-making in a setting resembling the stock market.
In a splashy, much-discussed paper published in 2008 in the Proceedings of the National Academy of Science, John Coates and Joe Herbert of Cambridge University examined the levels of various hormones in male floor traders at the London stock market over the course of eight days of work. They wanted to see if hormone patterns correlated at all with how the market was doing and/or with the trader’s own market performance. (Dr. Coates, it is worth adding, had spent his errant youth working as a trader atGoldman Sachs and Deutsche Bank, before being born again as a neuroscientist.)
One of their key findings concerned cortisol (aka hydrocortisone, part of a class of adrenal steroid hormones known as glucocorticoids). Stress spurs cortisol secretions. If you’re stressed like a normal mammal, running from a predator, cortisol helps to save your life. But chronic psychological stress—a human specialty—elevates long-term cortisol levels, which increases the risks of stress-related diseases.>> Read More
If you’re trading for emotional satisfaction, you’re bound to have lots of problems and continue to struggle, for two reasons. First, often that what feels good is often the wrong thing to do. Second, the game of trading, and it is a game in many respects, involves being disappointed fairly often.
Even for profitable traders a certain number of trades will lose money, and even the winners don’t always work perfectly or match your exact expectations.
As a trader, it’s impossible to avoid disappointment, not every trade is going to work. You get stopped out and then see the trade go on to work without you, or you hesitate and miss the move, or you exit early to book profits and watch the move continue without you. When you think about it, trading involves a lot of disappointment. I cannot think of any other job that involves disappointment on such a regular basis. Even the most successful traders experience this. No way to escape it.
When you experience a lot of disappointment you’re going to experience a high degree of stress. And when stress overwhelms you…and by the way, stress can masquerade as performance anxiety or pressure to succeed, the emotional part of your brain will run right over the logical analytical part of your brain. You’ll know when that happens because that’s when your rules go out the window or you veer from your plan and you take a revenge trade or an impulse trade or you freeze up and hesitate.>> Read More
As of this Friday, the S&P 500 has gone 980 days without a 10% decline, according to Birinyi Associates, the fifth-longest such stretch on record. This past week’s nervousness, set off by the insurgency in Iraq and the surprise defeat of U.S. Rep. Eric Cantor, is thus the perfect pretext for investors to think about what they will do when the market takes a serious beating.
For, sooner or later, it surely will—and those investors who have honestly prepared for it will stand the best chance of surviving unscathed. In a downturn, you won’t be the same investor that you are now—unless you rely on rules and procedures, rather than willpower alone, to regulate your behavior.
New research shows that the kind of stress brought on by a collapsing stock market fundamentally changes how people make financial decisions.>> Read More
1. Understand the benefit of change. First, ask yourself if you need to change. Then, ask yourself what you need to change. Identify your current habits and ponder the benefits of changing them. Perhaps while trading you are feeling negative emotions such as stress, anxiety, temptation, or frustration. And ultimately, these emotions cause you to make poor, impulsive and self-destructive decisions. Write down what would happen if you were no longer feeling such negative emotions. That is, what would happen if you were able to remain calm and clear-headed while trading?
2. Dissect the proposed change and benefits. Find as many holes in the prospective change as you can. Don’t just convince yourself that things will become better if you change. Make sure the grass actually is greener on the other side of the fence. Be clear about what you want to change and how you will go about it. Write down the benefits that will take place if you do indeed change.
3. Recognize the situation that triggers your self-destructive action. Write down those all-too-familiar conditions, or circumstances, that lend themselves to activating negativity within you (e.g., all the things done, or said, that push your buttons). Also, write down how you are going to consciously recognize them during the day as they happen. Now, next to each item, write down what systems and processes you will implement to avoid letting that situation become emotional.>> Read More
Jack Schwager: You have picked a lot of traders in your career. What do you look for when you hire a trader?
Michael Platt: I want market makers, people who know that anything can happen. The type of guy I don’t want is an analyst who has never traded – the type of person who does a calculation on a computer, figures out where a market should be, puts on a big trade, gets caught up in it, and doesn’t stop out. And the market is always wrong; he’s not. Market makers know that the market is always right. You are wrong if you are losing money for any reason at all. Market makers have that drilled into their head. They know value is irrelevant in times of market stress; it’s all about positions. They understand the markets will trade against positions. They get it. It is built into their books. It colors the way they think. I look for the type of guy in London who gets up at seven o’clock on Sunday morning when his kids are still in bed, and logs onto a poker site so that he can pick off the U.S. drunks coming home on Saturday night. I hired a guy like that. He usually clears 5 or 10 grand every Sunday morning before breakfast taking out the drunks playing poker because they’re not very good at it, but their confidence has gone up a lot. That’s the type of guy you want – someone who understands an edge. Analysts, on the other hand, don’t think about anything else other than how smart they are.
Last Close : 6547
Above is Daily Chart of Nifty Future
We need Three (3 ) Consecutive close above 6593 +Weekly close will create Fresh Buying Wave
Next Target : 7363-7720 level.
11th Week (including this week )…………will see Unexpected level in Nifty Future
-Yesterday after kissing 6602.80 it crashed Intraday to 6522 level !!
Yesterday’s low very Crucial for Traders.
Decisive Break with volumes below 6524 level and stays below for 15-20 minutes ,We see PANIC upto
& There after more Panic upto 6463—6454 is possible.
Yesterday’s High Crucial Hurdle for Traders ,Crossover and stays above 6602 level with volumes will take to 6635 level.
Laxman Rekha for Traders at 6644 level.
Nifty Future will it kiss 6650 First…………………or Will it tumble to kiss 6450————–6410 level ??
Again Writing :Buy 6700-6800 put and Forget.Buy 6400 Put too.
Connecting : 6239——————————6480 …………….Fallen back from 6603 level !
This will act as Crucial Hurdle ,Yes Long Term Formation of Inverse Head & Shoulder formation on Weekly CHART
Here is a checklist that might be useful for self-evaluation:
1) Have you experienced one or more recent large losses in markets that shook you emotionally?
2) Have you experienced a recent painful loss in your personal life that has left you feeling more vulnerable in your finances and/or your personal sense of security?
3) Have you experienced a recent threat to personal safety that shook you emotionally, such as a violent attack or a serious accident?
4) Do you find yourself emotionally “overreacting” to what should be normal trading stresses and losses? Are you experiencing significant anxiety, frustration, anger, or depressed feelings when trades don’t work out?
5) Do you find yourself “overreacting” in your trading behaviors during what should be times of normal stress? Are you freezing up and not acting on your ideas or impulsively lurching into trades after losing periods in markets?
6) Do you look back on your trading and feel confusion, shame, or puzzlement over actions that you took that run completely contrary to your plans for the day?
7) Have you tried to reduce your emotional and/or behavioral reactivity to markets, only to see the same destructive patterns return during times of stress?>> Read More
The stress that financial traders suffer during periods of high volatility in the markets reduces their appetite for risk, according to a study led by Cambridge university neuroscientist and former Wall Street trader John Coates. This may prolong financial crises.
The research, published in Proceedings of the National Academy of Sciences, combines field and lab work. Prof Coates and colleagues discovered that levels of the stress hormone cortisol increased by 68 per cent on average in a group of City of London traders over eight days in which market volatility increased.
The scientists took this finding to Addenbrooke’s Hospital in Cambridge where they used pharmacology – hydrocortisone tablets – to raise cortisol levels in volunteers, also by 68 per cent over eight days. Participants then played an incentivised risk-taking game. The appetite for risk collapsed, by as much as 44 per cent according to one measure, in those with raised cortisol. (The study was double-blinded with a control group taking dummy tablets.)>> Read More