Trading psychology
Why people break their own rules and what to do about it. No advice to «be disciplined» — only mechanisms, numbers, and a way of working that makes a slip expensive.
6 lessons · 51 min
Who this course is for
For anyone who knows what to do and does something else. After this course you understand why willpower loses to the market, you know the price of the three costliest slips in figures, you keep a journal that catches you red-handed, and you build rules that make a mistake impossible rather than forbidden.
- 1Why discipline does not help8 min«You need more discipline» names the outcome, not the way to get it. The market asks you several thousand questions a day, and no amount of willpower is built for that many decisions.
- 2A loss hurts more: why people cut winners and hold losers9 minHalf of all future winning trades first go into the red. We measured that — and measured what the habit of closing at the first uncomfortable move actually costs.
- 3Fear of missing out: the price of entering a move that already happened9 minWe took 459 impulses and measured what happens to whoever buys them. On direction — an honest coin flip. On the way there — a drawdown that knocks out seven entries in ten.
- 4Tilt: why winning it back is worse than simply stopping9 minAfter a loss people go to recover the money in the same coin — and we measured that the market at that moment swings six times wider than usual. Plus the arithmetic that makes the hole deepen faster than it fills.
- 5The journal: the only way to catch yourself red-handed8 minMemory rebuilds motives after the fact, and arguing with it is useless — you can only write the decision down before the outcome is known. The good news: your own habits show up on a sample twenty times smaller than testing an idea requires.
- 6Design instead of willpower8 minThe closing lesson: how to arrange your work so the expensive mistakes become impossible rather than forbidden. And honestly — what this cannot achieve.
Right now
| Coin | Value | Details |
|---|---|---|
| NICKEL | -0.4% | 1m |
| TUT | -3.5% | 1m |
| BANK | -3.3% | 1m |
| BMT | -3.2% | 1m |
| MUBARAK | -3.1% | 1m |
| CATE | +6.0% | 5m |
| TUT | -3.2% | 1m |
| JIMOTHY | -3.2% | 1m |
Live numbers from our own table — the very ones this course is about. They update with the market.