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These feelings arc generatedscious fears and expectations on their trading behavior and take morethe moment you look to be elsewhere or to get somewhere else to feelresponsibility for their actions, using their discomfort to empower themall right.So if you can choose what you have, right in front of you,in terms of conscious choices based on their stated goals.This allowsmany of these feelings will naturally dissipate.you to see that the result is only a reflection of your strategy, and not aChoosing what you have means finding the resources within your-reflection of yourself.In this way, you only need to focus on determin-self to make your life work.To look elsewhere for the answer out of theing your capital amount, the stocks' volatility, and your position sizes,erroneous notion that your sense of self will come from someplace out-in line with your strategy, to begin to realize your financial objectives.side yourself is to split yourself psychologically.This may mean raising both your exit and stop-loss points and buy-By choosing what you have, you can reduce the pain, struggle,ing more of a rising stock if the fundamentals are unchanged rather thanand waste of energy that comes from looking for something you dofollowing your inclination to take a profit.It may also mean letting go ofnot have and ignoring the strength that you do have.By acceptinglosing stocks rather than holding on to them.Studies of risk-taking be-yourself and focusing on the moment before you, listening withouthavior have consistently shown that most people tend to avoid risksjudgment, taking risks, and letting go of superstitions, you are able towhen seeking gain but accept risks to avoid losses.This explains whymove beyond the psychological comfort zone to a more creativepeople are more inclined to hold on to losing positions that in realityzone.they should discard.100 Percent Commitment115TRADI N G TO WI N114For instance, Jed knew he had "turned a little bit of the corner" one What Commitment Means in Different Market CyclesFriday, when he had his biggest day ever $50,000."I definitely didgain some confidence because I knew I could do it.I proved it." Now, Commitment to a goal demands patience, since the result may takehe adds, "I'm more patient.I've been staying with the good things twice as long as you anticipated.It also means paying attention to nega-longer.I've been selling the bad things that aren't working." tive results breakdowns as well as other indicators that suggest youTo be fully present in the moment before you, you must choose should examine what you need to do to correct your course of action.what is, rather than trying to change things to fit what you think is the In a bull market, the committed trader is willing to increase risk byright answer.Waiting for the right answer before you act is a trap.You extending time horizons by being late to buy, and by not selling somay think you are doing something when you are deciding on the right soon and is also willing to buy more stocks that are volatile.And theway to go or the right path to follow, when in fact you actually are trader continues to ask what is still missing from his or her strategy.Amired in your thinking.The issue is to choose or not to choose, not chartist, for example, should be willing to make more calls to get funda-mentalist confirmation of tape activity.choose the right answer.The more you do this, the more you'll get into the zone.TheIn a stock market that's starting to reverse itself and is becomingmore you're in the zone, the more you discover that life is not some- choppy, the committed trader may want to get out in a shorter timething to be grasped or gained or to be realized through achievement frame and take profits.In choppy markets, you have to sell stocks whenbut is something to be lived fully in the present.You can only live in they are up and buy them when they are down.the next moment.Ideally when you enter fully into the next moment In rising markets, when interest rates are stable or going lower, youthrough the perspective of your vision, you uncover your potential for buy more stocks when the interest rate is moving down.An example iscourage and creativity.Choosing what is does not require effort but the high-momentum type market that occurred in the first half of 1996only a willingness to go past your fearful thoughts and preconceptions when fund managers were buying what was going up, thereby creatingand to bring as much of yourself into play as possible in the moments momentum.With high interest rates you look for inflation and lower corporatebefore you.The same principle of "choosing what you have," rather than deny- profits and a falling market.ing it or trying to change it, applies to unpleasant emotions.Instead of In a bear market, you're en route to becoming a committed traderstruggling to contain or escape your feelings, you can learn to experi- by learning to feel the discomfort of betting against the trend.Bearishence them and thereby master them, instead of using up your energytraders also must learn to ride out countertrend rallies by continuallyhiding them.When you own up to these uncomfortable feelings, youadjusting their stops upward [ Pobierz całość w formacie PDF ]