Day Trading Stocks & Futures

[marimuthu13]

Since everyone is talking about meditation over the weekend afternoon, I will also join in... Meditation is a process of bringing discipline in life, mind and thoughts. Not something to be done at a particular time in the day, should be included as the way of life. This is very important for trading success, especially intra-day trading.

Markets are very random, if trader is also random in his thoughts, process and style there is no way he will be able to find success in trading. This is why trader psychology is very important. The first point a trader need to learn is to bring stability in his thoughts and process that he follows, this will negate the randomness in the market and allow one to see pattern after all the noises are filtered.

If you can understand this youtube video from the perspective of trading and life...which will not be very easy......but I can say with confidence and personal experience that you will start seeing things in a different perspective and your trading experience will change for good..

If possible try reading the book "The power of Now" by Eckhart Tolle, same person from the above video.
There are many good books on meditation by indian authors, but you will find this book more easier to understand and practice.

I bought both power of now and practicing power of now ...brand new book from flipkart..

but yet to open it even after 3 months...

 

[afin]

Not to be in disagreement with someone who purports himself to be a teacher on the subject!!! But haven't you ever listened to FM OR Had a conversation on mobile while driving???

That being said, multitasking may degrade the performance of a said activity depending upon the persons' mental acuity & capacity!!!



Meditation is merely the process of emptying out one's mind to sharpen focus on whatever is desired without being badgered/ distracted by subliminal white noise!!!

When put to use correctly it will enhance performance in not only trading but other endeavours too!!!

Firstly, I don't drive a car. I do not know how to drive one as well. So that analogy does not work with me.


It is a big myth that multi-tasking works. Multi tasking seriously impedes performance on high cognitive tasks and where attention is demanded and has negative impact on productivity and critical thinking skills, and concentration. Error rates also go up a lot. If you want to test it out empirically, please... you are free to do so. I have leaned on research including an unpublished work I was part of to say what I had to say.

We had high IQ MENSA candidates who scored a minimum of 150 on the Cattell test of intelligence (MENSA requires a min of 148 on the test to be admitted as a member), and put them through a series of validated, high cognitive intensive tests. Their performances nosedived overall. We however didn't test for those with an IQ of those with over 170. The highest IQ candidate we had was someone at 165 and even he or she didn't perform adequately well. So based on that, I don't think mental acuity plays a part. It is as I said a huge myth.

 

[rmike]

Couldn't really resist ..... blame it on Sunday!!!

@afin

Am in agreement ......... in a manner of speaking!!!

And have said as such in two concise lines (quoted below), which you have been at pains to pronounce in two paras .........

That being said, multitasking may degrade the performance of a said activity depending upon the persons' mental acuity & capacity!!!

But since you purport yourself to be a teacher, then tell me ........

Humans cannot multi-task. We can only do things sequentially

There's a world of a difference between cannot do it at all and cannot do it as good (or better) ...... isn't it, now???!!!

Also, despite your (anticipated) disbelief, there do exist people on this earth who can write with both hands ........ simultaneously ......... on different topics ........ AND ....... that too ......... in different languages!!!

While am sure that, that analogy does not apply to the majority of the human populace ................. you and yours truly included!!!

BUT, nevertheless, it does not preclude it from being indeed a fact of human multitasking, at its finest!!!

 

[afin]

Couldn't really resist ..... blame it on Sunday!!!

@afin

Am in agreement ......... in a manner of speaking!!!

And have said as such in two concise lines (quoted below), which you have been at pains to pronounce in two paras .........



But since you purport yourself to be a teacher, then tell me ........

There's a world of a difference between cannot do it at all and cannot do it as good (or better) ...... isn't it now???!!!

Also, despite your anticipated disbelief, there do exist people on this earth who can write with both hands ........ simultaneously ......... on different topics ........ AND that too ......... in different languages!!!

While am sure that, that analogy does not apply to the majority of the human populace ................. you and yours truly included!!!

BUT, nevertheless, it indeed is a fact of human multitasking, at its finest!!!

am not a teacher was a researcher in past life!

 

[against_tides]

Since everyone is talking about meditation over the weekend afternoon, I will also join in... Meditation is a process of bringing discipline in life, mind and thoughts. Not something to be done at a particular time in the day, should be included as the way of life. This is very important for trading success, especially intra-day trading.

Markets are very random, if trader is also random in his thoughts, process and style there is no way he will be able to find success in trading. This is why trader psychology is very important. The first point a trader need to learn is to bring stability in his thoughts and process that he follows, this will negate the randomness in the market and allow one to see pattern after all the noises are filtered.

If you can understand this youtube video from the perspective of trading and life...which will not be very easy......but I can say with confidence and personal experience that you will start seeing things in a different perspective and your trading experience will change for good..

If possible try reading the book "The power of Now" by Eckhart Tolle, same person from the above video.
There are many good books on meditation by indian authors, but you will find this book more easier to understand and practice.

An excellent book indeed..

 

[travi]

on this topic of multitasking, we should watch all the Mothers in the kitchen, especially on a guest dining day
those scientists might learn a thing or two

 

[afin]

on this topic of multitasking, we should watch all the Mothers in the kitchen, especially on a guest dining day
those scientists might learn a thing or two

women are inherently better at handling tasks than men. That's evolutionary genetics telling you.

 

[rmike]

Actually ..... women are better at handling mundane, repetitive tasks than men ......

Like you said - its coded in their genetic make up!!!

But could also be because they are not as preoccupied with thoughts of men as men are with thoughts of women!!!

Am sure, here too .... meditation might help a bit!!!

 

[ksathis]

https://economictimes.indiatimes.co...-stay-stock-specific/articleshow/71136253.cms

 

[iwillwin]

Sometimes people over work their minds while meditating.
Meditation doesn't have strict rules, it is supposed to be like reconcilation in accounts.
Many times, I keep something safely and months later I can't find it.
At that time, I meditate, and it takes some time or a few attempts, but eventually or most of the time I can recall exactly what I want.
I don't know of any other method by which u can achieve this.
Power is within u, watch KungFu panda, might help in conveying the thought I have

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