Psychological and emotional triggers in chart patterns

Discussion in 'Psychology' started by mute9003, Apr 7, 2022.

  1. mute9003

    mute9003

    So obviously pros look for triggers in stock patterns to initiate their trading activities and ignore other triggers that are traps and that are useless
    Meanwhile noobs seem to keep falling for those triggers that are opposite of pros
    Alot of traders deny this for some reason when its obvious even to a new trader like me
    noobs on average act in a way that will make them lose money

    i do that as well with consistency
    I manage to buy right before a good size dip.
    And watch many runs that i looked at and thought damn this about to run i should buy but end up just watching it.
    cant figure out what devil possessed me to do that in each case.
    so im here asking what are some common triggers in the chart patterns that make noobs buy
    We already know the triggers that make pros buy at the right time its horse beaten over and over
     
    murray t turtle and GoldDigger like this.
  2. easymon1

    easymon1

    Expositories that start with So and followed up by 'obviously' are fun.

    Specifically, Who are these pros?
    What are the criteria for their inclusion in this obviously pro group?
    Post links to their bona fides.

    We see hedge funds blow up, fraud in pension funds, wins in some market cycles and losses in others. You may find that this group may have overblown reputations.

    Prove me wrong, please.
    Then we can research for any underlying themes and rules that the perennial winners apply.
     
    Leob and GoldDigger like this.
  3. GoldDigger

    GoldDigger

    Pros use other tools besides charts and patterns.
    We use indicators, scanners, screeners, watch
    lists, etc. as well as our experience.

    Sometimes we buy a stock and it starts to tank,
    which gives anyone a sinking feeling. Everyone
    wants to earn a profit, it is human nature.

    It is important to remember that just as stocks
    go down, they normally rebound; some stocks go
    back up later in the day, some may take a couple
    of days, but they will eventually be profitable.

    I had a dud a couple of weeks ago, I held onto
    it for ten whole days before I made my profit,
    but it was worth it.

    It is okay to watch, you can also continue using
    a simulator to test how a stock performs, but if
    you find a good quality stock, and all indications
    are that it will perform well, don't freeze up
    even if you only invest small amounts.

    You don't have to keep searching for different
    stocks. Since stocks go up and down, you can
    invest in the same stocks over and over again
    and take a profit each time.

    I have found a few stocks that I return to on a
    regular basis since I can predict how they are
    going to perform.

    Many people never get started because they
    cannot figure things out, they don't want to
    take chances, they don't have money, and all
    sorts of excuses for never starting and just
    giving up.

    As the saying goes, quitters never win, so
    just keep at it, you will eventually be a
    successful trader.
     
  4. easymon1

    easymon1

    Enlighten us with a short list of above...

    popcorn.jpg
     
    KCalhoun likes this.
  5. easymon1

    easymon1

    Something to consider...
    "What you think about you bring about.
    What you focus on grows."
     
    murray t turtle likes this.
  6. mute9003

    mute9003

    You can youtube that. They tell you all about it in their video

    Im asking specifically what triggers noobs to buy at wrong times..
    Stop derailing the thread with nonsense please im trying to learn shit not to prove anything to anyone.
    Asking questions on topics that i dont understand
     
  7. easymon1

    easymon1

    I notice a lost aspect to your stream of posts on ET.
    What you focus on grows.
    Tear em up Tiger. lol
     
    murray t turtle likes this.
  8. wrbtrader

    wrbtrader

    There are other things on their monitors besides a chart of what they're trading.

    For example, how often do you see someone post a single chart at a forum or here at Elitetrader.com when in fact they may be using a monitor with other windows open on that same monitor that contain info to help them make trade decisions or they may be using multiple monitors...

    Yet, they only post a single chart that shows where they bought and where they sold.

    Thus, the key is to discover what those other things are on their monitor(s) and how it helps them to take trade decisions and ignore other trade signals.

    Another possibility, something else to think about, those other traders may not be using the same chart patterns as you're using. Thus, you may be interpreting in error that your difference in trade results as psychological and emotional when it is in fact you're using different chart patterns.

    Simply, discover what's on their entire monitors with their charts and compare it to what's on your monitor with your charts.

    Yet, let us pretend you have everything on your monitor as they have on the monitor and you're using the same chart patterns for your trade decisions...you still getting different trade results...there could be something in your trading environment that's either distracting you, pressuring you or sabotaging your cognitive-decision making process (e.g. not enough sleep, noisy children while you're trading, pressure to use more of trading capital for living expenses, trading is too stressful for you or you're just not suitable for trading).

    You really do not know until you're sitting side by side with them (IN PERSON) and watching them trade.

    wrbtrader
     
    Last edited: Apr 7, 2022
    SunTrader and KCalhoun like this.
  9. GotherL

    GotherL

    I don't know what you mean by chart pattern triggers since this is mostly an psychological trigger.

    Greed, Fomo, Impatience, Anger, Frustration & Lack of Discipline are the most common ones.
     
    Last edited: Apr 7, 2022
    murray t turtle likes this.
  10. easymon1

    easymon1

    In the spirit of including some balance to contrast with the negative aspect of looser noob moves that are self defeating...
    What would be three instances of "all about it" that you find reliable in producing profitable trades in your own practice?
    Remember profitable trades?
    What did you do that you want to repeat?
    Anything you are willing to share off the top of your head?
     
    #10     Apr 7, 2022