Comments on: Who’s on third? http://traderpsyches.com/whose-on-third Trading Psychology, the Thinking Man's Market Psychology Thu, 13 Oct 2011 21:28:50 +0000 hourly 1 http://wordpress.org/?v= By: mark http://traderpsyches.com/whose-on-third/comment-page-1#comment-34 mark Sat, 18 Oct 2008 19:55:23 +0000 http://traderpsyches.com/blog/?p=98#comment-34 Denise, more like since the 70's, give or take...but Mises & the Austrians were on it long before that..... Denise, more like since the 70′s, give or take…but Mises & the Austrians were on it long before that…..

]]> By: DKS http://traderpsyches.com/whose-on-third/comment-page-1#comment-33 DKS Sat, 18 Oct 2008 14:50:59 +0000 http://traderpsyches.com/blog/?p=98#comment-33 Tom, the hardest trades to manage are the winners - "do I let this run or do I get out".... either way you either give up the additional profits or give back some... and this reality can easily become a debit to your account for psychological capital... which then needs managed before the mental/emotional reaction to missing out or giving back compels an unplanned, flagrant (as my first trading teacher called them) trade. ... "We Love Vol" ;) Tom, the hardest trades to manage are the winners – “do I let this run or do I get out”…. either way you either give up the additional profits or give back some… and this reality can easily become a debit to your account for psychological capital…

which then needs managed before the mental/emotional reaction to missing out or giving back compels an unplanned, flagrant (as my first trading teacher called them) trade.

… “We Love Vol” ;)

]]> By: Tom http://traderpsyches.com/whose-on-third/comment-page-1#comment-32 Tom Sat, 18 Oct 2008 14:26:03 +0000 http://traderpsyches.com/blog/?p=98#comment-32 Without volatility, there is no change in price, and no profit to be made. Craziness (volatility) tests our systems and our ability to understand why our heart is pounding or we want to walk away from the markets. This is training ground for less volatile days. It's also a great opportunity to make or lose a lot of money. Is it a bull or bear on third? Can you let your profits run and cut your losses short? If not, what's going on in you head that's getting in the way? Without volatility, there is no change in price, and no profit to be made. Craziness (volatility) tests our systems and our ability to understand why our heart is pounding or we want to walk away from the markets. This is training ground for less volatile days. It’s also a great opportunity to make or lose a lot of money. Is it a bull or bear on third? Can you let your profits run and cut your losses short? If not, what’s going on in you head that’s getting in the way?

]]> By: DKS http://traderpsyches.com/whose-on-third/comment-page-1#comment-31 DKS Sat, 18 Oct 2008 12:04:59 +0000 http://traderpsyches.com/blog/?p=98#comment-31 Mark, haven't you been predicting this since as least 2004? ...and it seems to me that auction market theory and the MP graphic represent the collective human emotion very well... in fact I tend to think of it as the most practical application of applied behavioral finance. Mark, haven’t you been predicting this since as least 2004?

…and it seems to me that auction market theory and the MP graphic represent the collective human emotion very well… in fact I tend to think of it as the most practical application of applied behavioral finance.

]]> By: DKS http://traderpsyches.com/whose-on-third/comment-page-1#comment-30 DKS Sat, 18 Oct 2008 12:02:54 +0000 http://traderpsyches.com/blog/?p=98#comment-30 Angelo - Agreed! (funny that word is " a greed" .... ) speaking of which... Martin, geez I can't believe I wrote "whose".... brain on too little caffeine I guess. Angelo – Agreed! (funny that word is ” a greed” …. )

speaking of which… Martin, geez I can’t believe I wrote “whose”…. brain on too little caffeine I guess.

]]> By: DKS http://traderpsyches.com/whose-on-third/comment-page-1#comment-29 DKS Sat, 18 Oct 2008 12:01:44 +0000 http://traderpsyches.com/blog/?p=98#comment-29 Neal - YEP! Neal – YEP!

]]> By: DKS http://traderpsyches.com/whose-on-third/comment-page-1#comment-28 DKS Sat, 18 Oct 2008 12:00:42 +0000 http://traderpsyches.com/blog/?p=98#comment-28 Ben, soon there will be a study published in The Journal of Finance that will show that people using the "circuits" in the brain having to do with reading the language of the other are better at reading market data than those who think of market data only as numbers. Will be sure to post link here when it is released - done by an EE PhD at a very techy school. So... yes I agree there is a language. Ben, soon there will be a study published in The Journal of Finance that will show that people using the “circuits” in the brain having to do with reading the language of the other are better at reading market data than those who think of market data only as numbers. Will be sure to post link here when it is released – done by an EE PhD at a very techy school. So… yes I agree there is a language.

]]> By: mark http://traderpsyches.com/whose-on-third/comment-page-1#comment-27 mark Fri, 17 Oct 2008 21:44:37 +0000 http://traderpsyches.com/blog/?p=98#comment-27 sure it's possible to think of markets in this way...just as it is possible to think of markets in terms of massive jupiter retrograde conjunct uranus (ouch?), or something...lol. the point of market profile, as I'm familiar with it, is to divine 'the other time frame player's' intention & be standing there with your thumb out when he comes along. his destination is your destination...so the song selection might be "Me & Bobby McGee" or "Highway Song", or "Train, Train".... as for 'lack of liquidity in the complex structured debt contracts', since its genesis was in the oceans of liquidity pumped out by certain nefarious manufacturers - hellbent on making 'blue planet' a reference to mood rather than water (or possibly to the squeezing of the collective smaller orbs, as in "blue balls"...), let me know when there is a futures contract on the fed...100% of my capital for that short.... sure it’s possible to think of markets in this way…just as it is possible to think of markets in terms of massive jupiter retrograde conjunct uranus (ouch?), or something…lol.

the point of market profile, as I’m familiar with it, is to divine ‘the other time frame player’s’ intention & be standing there with your thumb out when he comes along. his destination is your destination…so the song selection might be “Me & Bobby McGee” or “Highway Song”, or “Train, Train”….

as for ‘lack of liquidity in the complex structured debt contracts’, since its genesis was in the oceans of liquidity pumped out by certain nefarious manufacturers – hellbent on making ‘blue planet’ a reference to mood rather than water (or possibly to the squeezing of the collective smaller orbs, as in “blue balls”…), let me know when there is a futures contract on the fed…100% of my capital for that short….

]]> By: Martin http://traderpsyches.com/whose-on-third/comment-page-1#comment-26 Martin Fri, 17 Oct 2008 18:37:07 +0000 http://traderpsyches.com/blog/?p=98#comment-26 I think the article is spot on in at least one important respect: the description of "fear of losing money" vs. "fear of missing out". People talk about markets being driven alternately by fear and greed; but in my experience, at least, the times when I've behaved in what might appear to be a greedy fashion (hello, tech stocks!) have in fact been driven more by fear of missing out on something on which everyone else is making heaps of money. (Oh, and "whose" means "belonging to whom". The word you're looking for is "who's", which is a contraction for "who is". Just sayin'...) I think the article is spot on in at least one important respect: the description of “fear of losing money” vs. “fear of missing out”.

People talk about markets being driven alternately by fear and greed; but in my experience, at least, the times when I’ve behaved in what might appear to be a greedy fashion (hello, tech stocks!) have in fact been driven more by fear of missing out on something on which everyone else is making heaps of money.

(Oh, and “whose” means “belonging to whom”. The word you’re looking for is “who’s”, which is a contraction for “who is”. Just sayin’…)

]]> By: Mario http://traderpsyches.com/whose-on-third/comment-page-1#comment-25 Mario Fri, 17 Oct 2008 17:37:45 +0000 http://traderpsyches.com/blog/?p=98#comment-25 no doubt the markets move based on emotions! but those emotions, per se, can't make us money. the chart reflect all those emotions, knowledge and whatever it is that make the markets move. and the chart have no emotions... if i was in the right side of the trade (even for the wrong reasons), i just had to watch the chart and do what it tells me to do. the same applies if i was on the wrong side of the trade. keep to the chart end keep to the plan!!! want to screem, cry, hit somebody? do it somewere else, not in your trading room!!! no doubt the markets move based on emotions!
but those emotions, per se, can’t make us money.
the chart reflect all those emotions, knowledge and whatever it is that make the markets move.
and the chart have no emotions…
if i was in the right side of the trade (even for the wrong reasons), i just had to watch the chart and do what it tells me to do.
the same applies if i was on the wrong side of the trade.
keep to the chart end keep to the plan!!!
want to screem, cry, hit somebody? do it somewere else, not in your trading room!!!

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