I often write and talk about taking the emotion out of trading. Now though those clever people at Philips have created a device that will warn home traders, by changing colour to red, if your emotional state is not compatible with making trading decisions.
"An emotion mirroring system for online traders", not a funky watch and fruit-bowl.
It seems utterly crazy to me but then I said the same about the iPod. You can read all about it here and form your own opinion. I turn a shade of green whenever I see 9 pips of slippage but I’m not even sure that is relevant.
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October 14, 2009 at 5:51 pm
Market Monkey
I’ve always found biofeedback an interesting subject, especially as it’s helped me personally outside of trading.
It’s a good idea, but I’m happy with the old school “observer” method of Alexander Elder!
October 15, 2009 at 4:01 pm
Anon
Looks like an invention looking for a problem to me.
October 16, 2009 at 6:18 am
Mark
I wouldn’t take emotion out of your trading. we need it. There have been studies on people whose emotion center (the limbic) in the brain has been severely damaged. They have trouble making decisions. Emotion and decisions go hand in hand.
October 16, 2009 at 1:04 pm
long&wrong
Mark – Welcome along (1st time comment I think). You make an interesting point, one I only agree with in a very narrow and specific way, but there isn’t the space in this little white box for the debate that it deserves