Human brain has limitations in information processing. We cannot consciously attend to all our sensory inputs at the same time. Brain has its own ways to overcome this information overload. It filters out the less relevant information and process only the remaining important information for decision making.
How does the brain classify information relevant or less relevant? How do we train our brain to respond to the relevant ones and ignore the trivial? It is by selective attention.Selective attention is simply the act of focusing on a particular object or information for a period of time, while simultaneously ignoring irrelevant information that is also occurring
Discretionary trading is all about decision making. Our success as a trader will depend on the quality of the decisions we make. Ultimately this will depend on the quantity and quality of the information on which we act. Less information to process means less cognitive load and better decisions. Quality inputs create quality output.
Do a selective attention audit on yourself frequently. Critically evaluate your information inputs. Do they really matter? Are they making any difference in your trading performance? Can it be discarded? Surprisingly you will find many of the variables you use now are not contributing anything but simply creating cognitive load.Discared them
Less is more in trading. Lifting their arsenal itself is a problem for many. How can they fight?