Ask Colin

PSYCHOLOGY

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  1. What are the best five bookson psychology?
  2. What do you think of the idea of selling some of a holding to cover the purchase price and letting the rest ride for nothing?
  3. What do you do if you have a small profit in front of you and there is the possibility or a larger one?
  4. Last week (mid October 2005) I was looking at a large unrealised profit.  This week I am looking at less than half that unrealised profit. How do you stay calm, when you see over 50% of your profits walk away?
  5. How do I take the emotion out of investing?
  6. How can I deal with fear of buying, even though I know we are in the distress selling phase?
  7. Are there any classic texts you recommend on Trading Psychology?
  8. How can I overcome the fear of "pulling the trigger" when I see an entry situation?
  9. I am trying to find a book by a gentleman who lives in Tasmania and has either written a book or lectures on the psychology aspect of trading.
  10. Two things I've noticed over the past few years since I attended your SIA course in March 99 that other people may be interested is that: a) Although you can tell people in your articles that this is what's going on, until you actually experience the market and its changing pattern formations it is pretty hard to explain in a textbook or article. Especially the psychology you experience and become a part of. e.g. Why I've always looked at the Newscorp chart thinking to buy but never actually buying and eventually a triangle formed in the process representing indecision. b) Whether it be snowboarding or trading you can tell someone how to do something but you can't teach courage to act.
  11. I have been trading shares 10 years and futures for about 4 years. When I started in the futures market I lost a lot of money listening to the broker so I stopped trading and built my own methods on trading the futures. Now I have this mental problem on being able to push the buttons thinking maybe this is the wrong one take the next so on so on.
  12. If I pass the study guide for Dr Elder's "Trading for a Living" will I be ready to start trading, or do I need more knowledge?
  13. How much understanding of yourself do you need, to know if trading suits your personality, temperament, etc.
  14. Can you recommend books on Crowd Behaviour?
  15. Has the time arrived (Early March 2001) to be different from the mob and stand aside, ignoring my fund manager's advice?
  16. In your article "Technical Analysis - Basic Assumptions" November 1997, are you playing down the importance of historical trends/ patterns in predicting future trends/ patterns?
  17. Of the three Ms of trading, I am having difficulty with "Mind", because I am watching real time data and get caught up in the dynamics of the market, rather than being detached. How can I improve my discipline?