I believe that I can say the following without equivocation… throngs of traders around the planet continue to do the same disastrous things over and over while continuing to expect different results. They are moving stops, chasing trades, doubling down on losers, exiting trades prematurely and just generally digging a major hole in their portfolios that they may never recover from.
The source of this definition came from Albert Einstein, who very astutely said, “We can’t solve a problem using the same thinking that created it.” In other words, if you want different results you must change something. But alas, change is extremely difficult for those who are caught in this precarious spiral. It is difficult due to the sheer amount of fear that is generated in these incidences.
Once you have identified the limiting, irrational or negative belief you can neutralize and uninstall it from your thinking whilst also uncovering a polar opposite empowering belief to install and use in the future. This process is critical to successfully addressing the underlying motivations for rule violations. In order to take control here you must be willing to achieve and remain in the now. Being in the now will support your ability to be “self-aware.” Being in the moment and self-aware will help you to monitor your thinking and emotions as they occur, making it much more likely that you will notice and therefore interrupt the bad pattern of thinking, feeling and doing that often has become automatic…a series of bad habits that will continue to play havoc on your desired results.
Another critical point to consider here is that monitoring your thoughts while in the now helps you to become aligned in body, mind and emotions. If you are able to do this then you will optimize your internal resources and activate your A-Game which is where you always want to trade from. Even if you feel fear at this point, you will have positioned yourself to manage that fear and either compartmentalize it or by using a belief with which you have constructed and replaced the limiting belief with so that it no longer is a source of deviation from the plan. You could also avoid the fear – the best position to be in.
These are just a few of the ways to effectively cope with and manage fear based programming that often causes irreparable damage to your confidence and/or your account.
Dr Woody Johnson can be contacted on this link: Dr Woody Johnson