Emini Trading Strategies Make You Feel Like Dancing With The Market | Oct. 21, 2015
http://eminitutor.com/Emini Trading Strategies Make You Feel Like Dancing With The Market | Oct. 21, 2015. Being the best at something or producing the best results/products and outshining the competition could also be a factor. Getting whatever task done to produce profit was in their control. If someone or something in their circle was slacking or equipment was malfunctioning they would find a fix, someone or something could easily be replaced or repaired. Problems that might arise always had a solution because the owners were in control.
Now imagine if the business owner lost that control. Now all of a sudden, they were dealing with the market and things weren’t going as planned. Maybe the business owner turned trader becomes upset and starts feeling disappointment or aggression, but can’t fire anyone, replace something, or give the responsibility to someone else to deal with. Without warning, management skills, hard work, or being the best at something with the best product in the best location becomes meaningless.
They quickly realize their prior business skills and previous approaches aren’t applicable in their new trading business. What they might not know is that it’s their mind’s preparation that’s the key. They might be successful in other businesses due to their ability to control their variables, but the trader needs to be in control of his/her own mind, and not dependent on outside elements. Emotional maturity needs to be nurtured and grown.
They need to relinquish and accept loss of control and accept the need to analyze for successful outcomes. It’s not only the tools they use to trade with, like charts and indicators; it’s also the individuals themselves by preparing mentally. Until the individual is trained internally, the depleted accounts, the losses and inconsistencies will never change. Traders are most times their own worst enemies, simply because they fail to accept the problem as being them. After all, they have run successful businesses before, why should this one be any different? It logically does not make sense to them.
The mind is programmed to protect and survive through evolutionary self-preservation instincts as well as learned programming since early childhood. Unfortunately this has no place in the paradigm used for successful trading. We are pre-programmed to react to circumstances that might work on other emotional and non-emotional events. Unfortunately the criteria relevant in other business applications don’t serve us well in trading.
Emotional reactions aren’t helping us when they are categorized into a “one reaction fits all” stereotype. Emotional maturity and management of emotions needs to be developed into a higher level of understanding. Only then can they be regulated, eliminating the knee jerk default pre-programmed reactions that don’t apply to trading, yet might be very successful and applicable in running some other business. They might be in control running a business but fail in coordinating trading using the same principles. They soon realize they have no control over the markets outcome.
They use an approach mentally that has successfully worked in the past yet don’t realize it doesn’t apply to the trading business. They blame the market not their own faults or approach. They don’t see that they are their own worst enemy. Self-preservation keeps their ego inflated for protection. This will not be useful in the trading arena since they focus on being right rather than trading coherently. They need to stop making excuses to justify their inadequacies as a trader and start to self-evaluate. Eliminate the “it’s not me” syndrome and assess themselves honestly. Putting in over-time, or buying a new indicator or system is not the solution.
They need to change what’s inside the mind before they can expect different trading results. The best tool is the ability to implement mind over matter. Similar to preparing the mind for walking barefoot over hot coals, but not quite as extreme. Emotions are kidnapped by the sub-conscious mind and the unaware recipient of adrenalin due to stress is left flailing unprepared for clarity in search of desperate resolve. They can’t just pretend the emotion isn’t there; they need to acknowledge it and manage it properly. They need to understand what’s actually happening. Admission and acceptance is critical before they can seek the road to retraining for optimal emotion management. (more) Emini Trading Strategies Make You Feel Like Dancing With The Market | Oct. 21, 2015
