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EP168: How Much Should Intuition Affect Your Trading?
In this episode of Truth About FX, Walter digs in the idea about how your intuition as a trader – and as a human being – affects your trading decisions. He also gives a brief on this interesting book that can help you understand the role of intuition. And did you know there is a way to track your intuition and probabilities – if you get really good at it. All this and more in this episode…
Download (Duration: 03:56 / 9.4 MB)
In This Episode:
00:58 – what people should know 01:45 – remote viewing program 02:52 – track it first 03:23 – beginner’s intuition
Tweetables:Track your intuition [Click To Tweet].Write a journal [Click To Tweet].Don’t try to predict the markets [Click To Tweet].
Announcer: Sometimes, forex trading is a wild and wooly place to be. That’s why Hugh is here, to post your questions to Walter, the naked forex guy. Hugh’s got questions and Walter’s got the answers. Here at the Truth About FX Podcast.
Hugh: Hi, Walter. How much should intuition affect into your trading decision?
Walter: It depends on how good your intuition is.
Hugh: I guess so.
Walter: I mean, there are some interesting things out there about people who use things like remote viewing and intuition. There was a book that I can post in the show notes for you guys.
They basically just interviewed traders – experienced traders – and they talked about the role of intuition. It’s kind of an interesting little, tiny book but it was quite interesting and I thought these are some things that people should know — and I don’t know very many people that talked about that book. I’ll post that in the show notes for you guys if you’re interested in that.
I think the big deal here, the big takeaway, would be to do this. Find out how good your intuition is simply by tracking it. In your trading journal, you can just track and say like you can take the trade, put everything in there, “My Stop, My Target” all these stuff and then you have another column where it says, “In a scale of 1 to 10, my feeling about this trade is a 9” or a 4 or whatever it is.
And then over time you can see now, “Is it true that the ones that I think that are really really good trades most likely will work out are the ones that actually worked out? Is that true or not?” that is a great way to go about it because now you can track it.
In the remote viewing program in the military, this is what they did. I think it was actually in the CIA. That’s what they do. They would track and see how well these remote viewers are and based on their hit rates, they could assign confidence level to different remote viewers and things like that.
You can do the same thing with your trading. That is another thing, there are some different ways that you can use say, deep bubbles of meditation as well, some people will use that to try and figure out what is going on.
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By Walter Peters (FXJake) and Hugh Kimura (Trading Heroes)In this episode of Truth About FX, Walter digs in the idea about how your intuition as a trader – and as a human being – affects your trading decisions. He also gives a brief on this interesting book that can help you understand the role of intuition. And did you know there is a way to track your intuition and probabilities – if you get really good at it. All this and more in this episode…
Download (Duration: 03:56 / 9.4 MB)
In This Episode:
00:58 – what people should know 01:45 – remote viewing program 02:52 – track it first 03:23 – beginner’s intuition
Tweetables:Track your intuition [Click To Tweet].Write a journal [Click To Tweet].Don’t try to predict the markets [Click To Tweet].
Announcer: Sometimes, forex trading is a wild and wooly place to be. That’s why Hugh is here, to post your questions to Walter, the naked forex guy. Hugh’s got questions and Walter’s got the answers. Here at the Truth About FX Podcast.
Hugh: Hi, Walter. How much should intuition affect into your trading decision?
Walter: It depends on how good your intuition is.
Hugh: I guess so.
Walter: I mean, there are some interesting things out there about people who use things like remote viewing and intuition. There was a book that I can post in the show notes for you guys.
They basically just interviewed traders – experienced traders – and they talked about the role of intuition. It’s kind of an interesting little, tiny book but it was quite interesting and I thought these are some things that people should know — and I don’t know very many people that talked about that book. I’ll post that in the show notes for you guys if you’re interested in that.
I think the big deal here, the big takeaway, would be to do this. Find out how good your intuition is simply by tracking it. In your trading journal, you can just track and say like you can take the trade, put everything in there, “My Stop, My Target” all these stuff and then you have another column where it says, “In a scale of 1 to 10, my feeling about this trade is a 9” or a 4 or whatever it is.
And then over time you can see now, “Is it true that the ones that I think that are really really good trades most likely will work out are the ones that actually worked out? Is that true or not?” that is a great way to go about it because now you can track it.
In the remote viewing program in the military, this is what they did. I think it was actually in the CIA. That’s what they do. They would track and see how well these remote viewers are and based on their hit rates, they could assign confidence level to different remote viewers and things like that.
You can do the same thing with your trading. That is another thing, there are some different ways that you can use say, deep bubbles of meditation as well, some people will use that to try and figure out what is going on.