Psychology

Gratitude, Thanksgiving, and the State of the Markets By, D. R. Barton, Jr.

Thanksgiving week is seasonally one of the strongest of the year. On Monday, the tech-heavy Nasdaq and the broader S&P 500 followed the time-tested tradition of strong Thanksgiving weeks by notching a new intraday all-time high before pulling back later in the session. In today’s tip, let’s take a look at what could be driving market direction into the end of the year. Then, we’ll wrap up with a quick thought on thankfulness, along with an exercise that I think you’ll find very enriching. Since the October market swoon, I’ve …

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You Don’t Trade the Markets: You Trade Your Beliefs About the Markets By, Van K. Tharp, Ph.D.

In the last few months, I’ve observed one person trade a system that he’d already proven not to work because he thought it might work if he had more trades. I’ve seen another person say that cryptoassets had no intrinsic value and subsequently delete all newsletters related to cryptos. That sounds a bit like Warren Buffet saying Bitcoin is “rat poison squared” and about fifty percent of all institutional traders were agreeing with him. On the other hand, I’ve watched people in their twenties get excited about crypto “Shitcoins” such …

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Do Routine Things Routinely By, Ken Long

Trading is all about taking action. That is, taking the right action according to your rules for Standard Work. We have Standard Work for normal conditions (what to do when things are normal) and we have Standard Work for abnormal conditions (what to do when things are interesting). Your relationship with your Standard Work defines your mindset, habits, and approach to trading as a serious person. In a legendary comedy routine, the ventriloquist artist Senor Wences would ask Cecilia Chicken how she knows that this egg is her “son.” Then, …

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Audio Piece: The Walking Man By, Ken Long and Bill Scheidt

Genius of rhythm, Bill Scheidt, has paired up with Ken Long to present, The Tortoise Album. In this track, we hear about The Walking Man and His Five Ways of Knowing: Head, Heart, Gut, Hands, and Feet, on the chosen path. “It’s an ongoing dynamic cycle of life and an ecosystem that shapes who you are and which is shaped by who you are and what you’re becoming along the way… Looking forward to our journeys together” —Ken https://youtu.be/GkVI3hKll6k

Tactical Trading Tip: The Psychology of Standard Work in Trading By, Dr. Ken Long

In our planning process, we seek to develop a list of tradeable targets that are in a critical state. In a previous article, I described a critical state as being postured to make larger than normal moves, in either direction, in shorter than average periods of time. We use our set of indicators to identify these through a statistical lens against historical norms. Once we have a manageable set of potential targets, we enter the preparation phase. Here we develop detailed decision points that offer favorable reward-to-risk ratios that give …

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How to Raise Your Self-Esteem By, Van K. Tharp, Ph.D.

Many schools of psychological theory involve the notion that individual personalities are made up of many different parts. It doesn’t matter if this is true or not. What is important is that using this notion of many different parts is USEFUL. If you are a frequent Inbox Coaching reader, you have heard this before. Today, I would like to continue on with this topic and cover the next level—self-esteem. If you understand the parts paradigm, you can probably see how your parts can have a profound effect on your trading. …

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How Competent Are You as a Trader? By, Van K. Tharp, PhD

How good are you as a trader? Do you make money every year? Do you make any money at all? Can you live off your trading? Maybe you make money, but not enough to cover all your trading expenses? Or, perhaps you made a lot of money once, lost it all (and then some), and now you are just trying to get it all back. Is that you? Considering all the questions I just asked, rate your competence as a trader on a one through ten scale. Let’s say that …

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Benefits of the Van Tharp Institute Educational Programs Part IV: Benefits 28-40 By, Van K. Tharp, PhD

Let’s continue to explore the benefits of our educational programs at the Van Tharp Institute in this final series installment. Benefit 28: Understand the Impact of Market Type When you apply systems thinking to the market, there are three primary systems that influence your trading success[1]. Those three systems are your trading system itself; your beliefs about the market and how it works; and the market type itself. These are shown in the diagram featured. For you to successfully trade, you must have a system that fits you (your beliefs, …

Benefits of the Van Tharp Institute Educational Programs Part IV: Benefits 28-40 By, Van K. Tharp, PhD Read More »

Benefits of the Van Tharp Institute Educational Programs Part III: Benefits 15-26 By, Van K. Tharp, PhD

Let’s continue to explore the benefits of our educational programs at the Van Tharp Institute. Remember that one of our major goals is for you to develop Stage 5 Awareness in which you understand that your experience is an illusion that you create through your beliefs and judgments. By the time you reach stage 5, you should also find the joy inside of you and be happy for no reason. Benefit 15: Design Your Dream Life So You Can Live It When you design your dream life, you ask yourself …

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Benefits of the Van Tharp Institute Educational Programs Part II: Benefits 11-14 By, Van K. Tharp, PhD

In this article, let’s continue exploring the benefits of our Educational Programs at the Van Tharp Institute. You may remember from Part 1 that one of our major goals is for you to develop Stage 5 awareness in which you understand that your experience is an illusion that you have created through your own beliefs and judgments. By the time you get to Stage 5, you will be able to find joy inside of you and be happy for no reason. Benefit 11: Clear Out Repressed Emotions and the Beliefs …

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