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EP187: Why You Should be Resilient in Your Trading
In this episode of Truth About FX, Walter dives into the different types of human psychology and useful tools that you can use to keep you guided on the right mindset. He also talks about an expert named Michael Seligman and how his theory on the different aspects of positive psychology and resiliency can really help you get on the right track of your trading.
Walter also shares a really cool test to help you identify your resiliency issues and why resiliency is one of the MOST IMPORTANT keys to becoming profitable. All these and more in this episode of Truth About FX podcast…
Download (Duration: 12:54 / 31 MB)
In This Episode:
00:31 – positive impact 01:51 – commonalities 02:55 – resiliency 04:05 – built as pessimist 05:18 – idea of reframing 06:10 – self-sabotaging 08:16 – old Freudian idea 09:50 – major piece 11:16 – living on a couch 12:03 – stick with it
Tweetables:People always diagnose others [Click To Tweet].Reframe your perspective [Click To Tweet].We’re built as pessimists [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. I know you’re always reading about cool psychological studies. Have you read anything recently that could have a positive impact with traders?
Walter: Absolutely! I would say probably one of the biggest things I’ve been thinking about this year as we record this is the idea of resiliency. In Psychology, they do a lot of work on why people are screwed up. That’s actually the most popular course. The most popular course in Psychology that people take in Psychology Majors is Abnormal Psychology. Everyone wants to know about the freaks so I guess that makes sense.
I think also as part of it is we’re always trying to diagnose people. “Oh, she’s a Narcissistic and he’s depressed” or whatever. What’s interesting is there’s this guy – and he’s a really famous Psychologist – and he came up with this idea of Positive Psychology.
He actually came to Sydney and I saw him and he’s such a cool guy. He’s getting up there in age so he’s kind of an older gentleman now. All that they do is totally different from what most Psychologists do.
Most Psychologists, they look at differences. They look at why is this group different from that group? Why are these people not able to do something? It’s a lot of breaking down groups in looking at differences. Even our statistics are set up to look at differences and very rarely do we look at commonalities.
This guy, Martin Seligman is his name. It wasn’t cheap to go and see him but he was great. He had this talk and he could go sign your book. You can ask him a question and he would answer it for you and all that.
This Positive Psychology moved him which is really has taken off around th...
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By Walter Peters (FXJake) and Hugh Kimura (Trading Heroes)In this episode of Truth About FX, Walter dives into the different types of human psychology and useful tools that you can use to keep you guided on the right mindset. He also talks about an expert named Michael Seligman and how his theory on the different aspects of positive psychology and resiliency can really help you get on the right track of your trading.
Walter also shares a really cool test to help you identify your resiliency issues and why resiliency is one of the MOST IMPORTANT keys to becoming profitable. All these and more in this episode of Truth About FX podcast…
Download (Duration: 12:54 / 31 MB)
In This Episode:
00:31 – positive impact 01:51 – commonalities 02:55 – resiliency 04:05 – built as pessimist 05:18 – idea of reframing 06:10 – self-sabotaging 08:16 – old Freudian idea 09:50 – major piece 11:16 – living on a couch 12:03 – stick with it
Tweetables:People always diagnose others [Click To Tweet].Reframe your perspective [Click To Tweet].We’re built as pessimists [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. I know you’re always reading about cool psychological studies. Have you read anything recently that could have a positive impact with traders?
Walter: Absolutely! I would say probably one of the biggest things I’ve been thinking about this year as we record this is the idea of resiliency. In Psychology, they do a lot of work on why people are screwed up. That’s actually the most popular course. The most popular course in Psychology that people take in Psychology Majors is Abnormal Psychology. Everyone wants to know about the freaks so I guess that makes sense.
I think also as part of it is we’re always trying to diagnose people. “Oh, she’s a Narcissistic and he’s depressed” or whatever. What’s interesting is there’s this guy – and he’s a really famous Psychologist – and he came up with this idea of Positive Psychology.
He actually came to Sydney and I saw him and he’s such a cool guy. He’s getting up there in age so he’s kind of an older gentleman now. All that they do is totally different from what most Psychologists do.
Most Psychologists, they look at differences. They look at why is this group different from that group? Why are these people not able to do something? It’s a lot of breaking down groups in looking at differences. Even our statistics are set up to look at differences and very rarely do we look at commonalities.
This guy, Martin Seligman is his name. It wasn’t cheap to go and see him but he was great. He had this talk and he could go sign your book. You can ask him a question and he would answer it for you and all that.
This Positive Psychology moved him which is really has taken off around th...