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As a marketing and advertising consultant, I've been involved with
assisting various mutual funds, banks and brokerage houses with their
communication strategies. A lot of the studies and focus groups we did
concluded that, in the aggregate (remember "aggregate" means there are many
individual exceptions), people are extremely insecure about financial
matters and how they invest money. They don't want to look dumb.
So when Mr. Wanna-be-Bigshot is talking with Mr. Really-is-Bigshot at the
country club and finds out his stock portfolio did 5% worse, the real
emotion that comes up is being embarassed. It's not the 5%, it's how stupid
he feels. I say "he" because the studies seem to point to men suffering
from this phenomenon more than women...and probably has a lot to do with
why men also do not want to seem stupid by asking for directions (again, in
the aggreage, you may well be an exception)
I think this translates to trading. We palm off responsibility for poor
trades to some other entity, be it guru or system, in order to not look
like idiots in front of our fellow traders.
>Hi Realtraders,
>
> I recently bought Mark Douglas's book, "The Disciplined Trader". I am
>curious
>as to whether any of you have an opinion of this book. One thing he says that
>caught my attention is that deep down inside, many traders like to avoid
>taking
>responsibility for their trading decisions. If that be so, I was thinking,
>that
>may be a factor in our great interest in systems. If the system says buy or
>sell, and I do, then I don't have to take responsibility for that trade in my
>internal thought processes.
>
>What do you think?
>
>Cordially,
>
>Jerry Brunet
>
>
>----------------------------------------------------------------------------
>---
>Jerry Brunet jbrunet@xxxxxxxxxx
>Brunet Computer Systems jbrunet@xxxxxxxxxxxxxxxxxx
>Canfield, Ohio U.S.A.
>Business: http://www.brunetcomputer.com
>Personal: http://www.cisnet.com/jbrunet/
>Jesus is the only One Who can run my life without destroying me in the
>process.
>
>----------------------------------------------------------------------------
>---
>
><html><div>Hi Realtraders,</div>
><br>
><div> I recently bought Mark Douglas's book, "The Disciplined
>Trader". I am curious as to whether any of you have an opinion of
>this book. One thing he says that caught my attention is that deep down
>inside, many traders like to avoid taking responsibility for their
>trading decisions. If that be so, I was thinking, that may be a factor in
>our great interest in systems. If the system says buy or sell, and I do,
>then I don't have to take responsibility for that trade in my internal
>thought processes.</div>
><br>
><div>What do you think?</div>
><br>
><div>Cordially,</div>
><br>
><div>Jerry Brunet</div>
><br>
><br>
>
>---------------------------------------------------------------------------
>----<br>
>Jerry Brunet
>jbrunet@xxxxxxxxxx<br>
>Brunet Computer Systems
>jbrunet@xxxxxxxxxxxxxxxxxx<br>
>Canfield, Ohio U.S.A. <br>
>Business:<a href="http://www.brunetcomputer.com/"; eudora="autourl">
>http://www.brunetcomputer.com<br>
></a>Personal:
><a href="http://www.cisnet.com/jbrunet";
>eudora="autourl">http://www.cisnet.com/jbrunet</a>/<br>
>Jesus is the only One Who can run my life without destroying me in the
>process. <br>
>-------------------------------------------------------------------------------
></html>
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