Lifetime Member Q&A with Dr. Katz & Dr. Steenbarger Mar 24 - Post your Questions!

[Mike B 625]

First Lifetime Member Psychology Q&A with Dr. Katz & Dr. Steenbarger will be held on March 24, 8 pm ET, please use this thread  to post your questions. 

[hailchaser2 185]

I have a question that is not trading related, but thought Dr Katz would be the perfect person to ask.

If you don’t want to have questions outside of trading asked I understand.

My future son in law is a NY Mets minor league pitcher. I was wondering which sports psychology book or books you would recommend. I was going to buy “With Winning in Mind” by Lanny Bassham, but it wasn’t available at Barnes and Noble.

I’m also excited about the subject you have slated for the seminar, over trading/revenge trading is a problem I struggle with. 

[John H 0]

My question has to do with the psychology behind not being able to stay in winning trades long enough. Is there more to it than just simple fear based on having been burned in the past so many times? Is the solution to just plow through and book enough wins to turn it around?

[Mike B 625]

Andy from the webinar asked

Could you speak about the the relationship between over-trading and giving back gains?

 

Bobby N from the Webinar asked

I have observed three situations when I tend to overtrade. 1. I try to force a stock to do a reversal back to VWAP, in my mind I think it's very extended and HAS TO head back to VWAP. I know that's not how the market works. 2.When I'm down and want to get back to break even for the day. 3. Revenge trading a stock I was wrong about earlier. I believe I am getting better at catching thesis mistakes before I click the button, what is an exercise or practice to get better at being aware of these?

 

[Mike B 625]

Priscilla Kelly from the webinar asked

What are filters? (referred to on chart 😎

 

 

Dimah from the webinar asked

can you please give some examples to practice discipline in life (outside of trading) that can help with discipline in trading?

[dellen 4]

Thanks Dr. Katz. My question is, how can we overcome performance anxiety in order to look at the charts in the most objective and calm way possible, specially in periods of high volatility?

[Mike B 625]

 

Question from Zsolt Poczos:

I'm very new to trading with barely any simulator experience. Have been reading Andrew's books, going through the BBT lessons and recently have been reading books about trading psychology.

The latter helps me identifying all the various human emotions so many of us are going through. Fear, panic, euphoria, 'deer in the headlight freeze' and so on.

I'm seeing the enormous volatility that's going on currently which poses both an opportunity and a great threat to my savings.

 

What would be your recommended strategy for a newbie like myself under the current climate? 

Would you stay in the simulator? 

Would you try to gain real life experience by trying to trade with only a few hundred dollars? Or even less than that? Perhaps once a week?

What would be the specific areas you would prioritize your focus on?