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Trade like a pro and understand the psychology of addiction and reinforcement in the markets with Louise Bedford. Proprietary trader Richard Jackson shares his trading journey and about when the markets clicked and he saw The Matrix.
MINDPOWER – LOUISE BEDFORD
Near-miss Psychology
There is a HUGE difference between gambling and trading.
However, there are addictive aspects to trading.
Two of the biggest reasons are is ‘Near Miss Psychology’ and ‘Random Reinforcement’ can inspire some sort of addiction to the markets.
Where is your behaviour in relation to this psychology?
Richard Jackson – Jackson Capital
It took 5 years before Richard Jackson felt competent in the markets.
But once it clicked, it became like seeing THE MATRIX.
He became confident and disciplined and the results were all on the upside.
But he had almost quit.
After borrowing $30,000 from his girlfriend and losing it in the markets, Richard could have given up.
Instead, he learnt how to trade properly.
He devoured over 30 books, found a mentor, and applied what he learnt over years until he had honed his art.
As an expert trader he is the founder and owner of the proprietary firm Jackson Capital. Richard discusses how he started trading, which instruments he trades, and realistic returns people can expect.
He also discusses traders’ lessons in behaviour and psychology and the importance of finding mentors to teach you the lessons it would take you years to figure out on your own.
As an experienced EA writer, Richard also gives his opinion of ALGORITHMIC TRADING and his 180-degree swing from writing ‘algos’ to believing a human being can interpret a market and chart better than a machine.
