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How Knowing Your Weaknesses will Improve Your Trading

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2016-08-03_1031

It’s been said that knowing the problem is half the solution. In trading, knowing your weaknesses can improve your trading as it will help you identify what can be done to correct those weaknesses.

Genetic realities

I have mentioned in previous posts how my family has not been blessed with the healthiest genes in the world, this unfortunately is our reality and it is incumbent upon us to battle through the difficulties and do the best we can.

A couple of weeks ago we were dealt a further blow when our son “the healthy one” in the family with juvenile arthritis was diagnosed with coeliac disease, an autoimmune disease affecting the way the body reacts to the ingestion of gluten. As parents we have watched him suffer for more than a decade with inflammation in his joints that at times has been crippling. More recently his concentration has deteriorated significantly and so have his grades.

Breaking the News

My wife and I really took the diagnosis badly, not so much because we decided to make our house gluten free and boy do I love my bread, but because we had a new challenge to contend with on top of the current medical dramas we are having to deal with. We are a strictly kosher family so we are already very restricted with the food we can eat, and now this young man and his parents who are responsible for feeding him, have added a lot more restrictions on what can be eaten.

Our son is a really happy, positive, sports mad young boy and so we were surprised at how he has struggled emotionally to process this new discovery. The message we have given him, being the same message my wife and I have taken on for ourselves, is that it is important to mourn the news. Nobody likes to be told that you have a disease and that it will be with you for the rest of your life and that you can never eat food with gluten in it; especially when you have been doing so for the last 14yrs.

I also witnessed him angry for the first time ever. He has this amazing temperament that very rarely displays anger but lately he has been angry as he works through his emotions. He has also been in denial. He says the blood tests and the biopsy results are wrong and that there is nothing wrong with him, and for a period of time he irrationally said he will eat gluten and there is nothing we can say to stop him.

The Good in the Bad

Over the last couple of weeks, we have all been able to slowly come to terms with the fact that this is our new reality and there is nothing we can do to change it. That this is a life sentence. However, in coming to terms with this new information it has also provided us with hope. Suddenly we have an answer to all the questions we have been asking over the years. Why has he got so much inflammation in his joints? Why does he have stomach ache so often with unpleasant reflux? Why does he get sick so easily? Why is his concentration so poor and why has it deteriorated so much?

Now that we have answers to most of our questions, we know that we are not alone, that there are many others with this disease and we have a large body of research to rely on which tells us that by staying off gluten it will cure many of his ailments. In fact, after the first week, he came home from school and said, “Mom, its the first time in years that I could concentrate in class”. So look at the good there is to take from the bad.

PsyQuation Trader Analogy

There are so many comparisons to this story and the way I see people interacting with the PsyQuation software.

Almost all of us traders suffer with some sort of “disease”, the symptoms, being our trading mistakes. It is quite possible for us to go through our whole life never discovering what is causing us all the pain, e.g. account blow ups or large reckless drawdowns. We can go through the anger and denial so similar to my sons experience and say there is nothing wrong with the way we trade, despite the stark reality our trading accounts reflect. We can become depressed with the realisation that we are suffering with a “disease” called poor performance.

I would like to suggest that the disease of losing money from silly trading mistakes is to a large degree curable. However, you have to know what to cure and with that you need to gain deeper knowledge about your trading behaviour and the demons in your mind that are causing you to behave improperly.

I am not suggesting that everybody can be fully cured and that we can all be profitable traders. That would be irresponsible, a lie, and simply incorrect. However, we all make avoidable mistakes to some degree. It is just that we haven’t had someone point it out to us, or we have acted with ego defensiveness to the person who has pointed these failing out to us.

The PsyQuation Robo Trading Coach really is a wonderful aide to every trader who wants to make more profits by overcoming their behavioural trading mistakes. The Coach has no ego and it is available 24/7. It is cleverer than any single person having the collective wisdom of a large database and a team of institutional traders and scientists who have programmed its ability to identify and advise the traders using it. All of this is provided for you with an elegant dashboard and intuitive graphical display, and best of all it is FREE.

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