Janice Dorn, MD, PhD
Neuropsychological Trading Coach
Janice Dorn, M.D., Ph.D., has been a full-time futures trader since 1994. Doctor Janice holds an M.D. in psychiatry and is board-certified by the American Board of Psychiatry and Neurology in general psychiatry and addiction psychiatry. She holds a Ph.D. in brain anatomy. A graduate of Coach University, she is a pioneer market psychiatrist and financial neurobehaviorist. Doctor Janice has written over 500 articles on the financial markets and coached over 600 traders worldwide. She is the Global Risk Strategist for Ingenieux Wealth Management Group, Sydney, Australia.
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TRADING WISDOM
TURN ON THE TV RIGHT NOW
Bull riding has gone absolutely mainstream! At this very moment, Bull Riding Championships in Oklahoma are being broadcast on NBC. Please try to catch even a little bit of it to learn how these new "Cowboy Heroes" handle themselves both on and off the bull. This is pure neurochemistry and brain synchronization at work.. the glory of eight seconds of victory and the agony of defeat. Watch how some of them fall from the bull onto the ground and some of them jump from the bull and land on their feet.
Watch the riders and the bulls and listen carefully to the commentary. Here, as in many sports, there are valuable lessons for traders.
A little more than a decade ago, bull riding was just one of many rodeo events, garnering little attention beyond hard-core fans. Today, television coverage and an increase in prize money - up to $10 million for a season - have transformed the sport into a wildly competitive phenomenon. Judges award points based on a rider's body position and control, skill and strength, and the performance of the bull and how difficult he is to ride.
Thermodynamics tells that a body in motion tends to stay in motion. This is the same with momentum stocks. They may run wildly and then slow down. What matters is that they stay strong. As long as they stay strong you stay with them. Good riders have a plan or a countermove for every move that the bull does. So do good traders.
"I don't know where they came up with eight seconds," said Cody Custer 39, of Wickenburg, a member of the Professional Bull Riders board of directors. "I don't think the time matters so much, though. It's like any athletic thing you take on: When things are going right, it goes smoothly and simple, but like any other sporting event, sometimes it's difficult, it depends on the animal, your mind frame, and your health."
The animal is the financial markets ( stocks, currencies, futures,commodities...whatever you are trading). In order to trade well and consistently, you must make yourself strong in body and mind. You can be sure that the bulls are well nourished and exercised. Do the same for yourself. The best riders are "one with the bull" which means that they are in constant flow with the movement of the bull in order to not allow themselves to be thrown off. The best traders are the ones who seem to effortless keep dollars flowing into their accounts.
If you train your brain properly, you will see, in every aspect of your daily life, analogies to and opportunities for improving trading. Take 20 minutes now and watch these incredible athletes. Learn something about life and yourself every day, as you travel on your journey to trading mastery.
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