PP2 = Psychology of Trading

...continued from yesterday...

Ironically, while Dr. Steenbarger disparages popular psychology, the materials in his The Psychology of Trading: Tools and Techniques for Minding the Marketssubstantiates the ideas from Tony Robbins’ book Awaken the Giant Within : How to Take Immediate Control of Your Mental, Emotional, Physical and Financial Destiny!.

The ideas from Steenbarger’s Psychology of Trading remarkably resembles Tony’s idea of of Neuro-Associative Conditioning and Swish Patterns, a summary of which is:

1. Identify a behavior pattern (“pattern #1”) you don’t want.
2. Identify a behavior pattern (“pattern #2”) you want to substitute for the one you don’t want.
3. Get emotional about substituting pattern #2 for pattern #1 by reviewing the pleasure you’ll get if you manage to get that done and the pain you experience from pattern #1.
4. Interrupt pattern #1 in an emotional way as soon as it starts.
5. Practice doing pattern #2 immediately after interrupting pattern #1 (i.e. Swish the patterns).
6. Keep records of your progress and reward yourself whenever you succeed in carrying out the foregoing steps.

An entertaining way of learning the information contained in the book Awaken The Giant Within is to go through the audio program by Tony Robbins entitled World's #1 Personal Improvement System : "Personal Power II - 30th Anniversary Edition" By Anthony Robbins!
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...back on Monday next week...

Copyright 2007 Raymond T. Lee. All rights reserved.
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