Article: Five Steps to Consistent Profits

[purplepatchforex]

Oh no, I have an answer to think about as well now! LOL

[Buckscoder]

Oh no, I have an answer to think about as well now! LOL

Does your answer have two legs? Then don’t think, act!

[dpaterso]

Actually Buckscoder (and on a a ‘semi-serious’ note):

I wouldn’t call my own personal issue on this subject either ‘overthinking’ or ‘panicking’. It’s more your ‘old habits die hard’ type of thing to be honest. When you’ve done nothing other than this and it’s consumed your entire ‘being’ and you’ve then ended up ‘losing your shirt’: even when you’ve ‘turned the corner’ it’s difficult to ‘shake’ those old habits ESPECIALLY when you’re using the same trading systems or methodologies that didn’t work for you back then but do now (but only because of the experience that you’ve gained and not because the systems themselves or the markets are any different). Does that make sense???

Regards,

Dale.

[Buckscoder]

Hi Dale,

yes I guess I can understand what you mean.

I don’t wanna be overrhetoric, lol. I just liked to point out that really thinking is never bad. What ppl usually understand under overthinking is everything else than really thinking in a smart sense. It’s panicking or as you mentioned now old habits or cycling through the same thoughts over and over and over again, but without really smart thinking or new input. I guess, you got my point.

I’d be rather concerned regarding underthinking (if it goes to pure smart thinking sense), because that is a habit what we all show probably too often to be helpful (not only in trading).

Best regards

[mindsetpips]

Okay, so we agree on that, Cubanpip.

The only thing is that you can’t overthink. Most ppl underthink and look for magic crystal balls or psycho stuff or gurus or signals or star patterns or whatever. The more they lose, the more do they underthink, looking for the magic holy grail, lol.

Happy trading to you!

Wouldn’t this be over-thinking?

[James_Jones]

Mental strength and risk management!!!

[chizzenpips]

Underthought and koolaid (java flavoured), lol!

If you think about it, underthinking should be recommended to avoid overthinking clouding judgement & decisionmaking, but it (underthinking) has to be done in a structured framework and mindset predetermined through extensive thought process, i.e. one’ll have to think about it much (overthink) so as to iron most all issues and remove flawed thought, to develop a structure / framework which allows one to underthink profitably. I think you get my point?

[mindsetpips]

Underthought and koolaid (java flavoured), lol!

If you think about it, underthinking should be recommended to avoid overthinking clouding judgement & decisionmaking, but it (underthinking) has to be done in a structured framework and mindset predetermined through extensive thought process, i.e. one’ll have to think about it much (overthink) so as to iron most all issues and remove flawed thought, to develop a structure / framework which allows one to underthink profitably. I think you get my point?

Yes, I totally get your point; in forex trading you have to achieve a certain level of proficiency in the strategy you use before you can stop thinking so much. Once you read a certain level of proficiency there is simply no advantage in over-thinking, thus underthinking becomes advantageous.