Trading in the zone is kinda fine reading… I am reading now Van K.Tharp and he also explain that.
Yeah I have a copy, although i think there’s a couple by different authors that share the same name. One my Mark Douglas and one by Ari Kiev, so make sure you get the right one or the one you want haha.
For me intuition is a guaranteed way to flush the depo in the toilet.
But I can assume that there’re some traders who can rely on their intuition and make profitable deals. Unfortunately, I don’t feel such a force inside me.
Best book ever written is ‘Trading in the Zone’. Love the book.
Intuition is basically a best guess. That can sometimes work, sometimes fail!
Intuition is used to describe a subconscious knowing or perception of reality. Our brains are constantly processing the world around us. Some people are better than others at paying attention to what happens around them and then making a connection between the cause and effect. Maybe they perceive something we do not and then the correctly identify the situation. We might say they have intuition because they perceived what we did not. But then we are not them and don’t have their mind or their past.
A good example of intuition is in personnel relationships. Say someone has an angry look on their face. Well it’s easy to tell something is wrong. However, going a more subtle route, say you are talking to someone and they shift their eyes. Maybe they are lying. Maybe they are nervous. Maybe they are distracted. There are keys to help know what could be happening. One key is your past experiences. They help you interpret the present. Another key is the context the situation is in. Say you walk into a room and your child is standing in front of a broken vase and you ask him what happened an he starts shifting his eyes and starts lying. Well hey that’s an easy one to figure out. How about when adults lie to you? I’ve had that happen and it’s more subtle. But given enough time of adults lying to you, you can pick up on it.
So at this point, what do you do with your trading and money. Try to pay attention as well as you can. Take notes on your trades. Analyze your mistakes. By doing this you will build a context for your experiences.
At the same time you must control your risk because if you lose all your money you can’t trade. And if you can’t trade you can’t gain more experience. So intuition is valuable but having a good strategy with risk management is perhaps more valuable.
Lots of traders say intuition is pattern recognition on an unconcious level because they have in some time in the past done a trade just like it.
Yes I agree but want to believe in something like miracle in trading. Hope that my intuition will help my to get money.