Sunday, February 5, 2012
The Daily Note - Analyzing your Analyst
Being in the moment does not mean that you are not influenced by anything else that may be going on at that same moment. Your mind may be chattering away, critiquing or cheering, uplifting you or digging your grave. Your ears will not be automatically plugged up to any news, discussions that may be blasting in the background of your charts, and your eyes will notice all sorts of possibly distracting pictures and of course you will not know any of it if you are not paying any attention.. right?
Well, not quite. You will record every bit of it and may even recall it later, often too late. You may note it consciously or unconsciously but it will be noted and recorded and played back at the right moment to bug the heck out of you if you ignored the information the first time. Usually it's that "gut" feeling that you recall not paying any mind to at the moment. So the painful reminder will show up as you watch that move you just "knew" would happen and see your opportunity of the trade wave goodbye. It will come back to haunt you the 2nd. 3rd, 4th, 5th, umpteenth time until you get it. What I am trying to tell you here is to pay attention to the moment, in the moment, because lessons to be learned will repeat.
On the other hand, if your chatter is arguing with you, calling you names and reminding you of every bad thing that you ever did, that tells you something too. Note also that usually your chatter is not a positive influence about the action you are planning to take. It is because the "something" usually has to do with fear of change. This is the part of you that will protect the "status quo" because although the threat of change is uncomfortable, it also threatens our conception of safety. There is always a part of us that wants to feel safe and comfortable no matter how irrational it may be.
So it's no wonder that what our logical mind says, our illogical, emotional self will battle; same as, with what our "gut" says, our logical mind will battle. These battles take place every split second we make a decision stay or change and they rage on with our without our conscious presence.
By now you have probably figured out that the analyst you are analyzing is yourself and that the way you approach yourself has a 99% percent to do with how successful you are in life and as a trader. Because you are your best friend and worst enemy, is why you have the greatest ability to overcome the failures. Imagine if you had to depend on someone else to do give you the gift of that ability. You would be dependent, but because it's up to you, you are independent.
So rather than lamenting over whether you can change or not, rejoice in your ability of recognition first, because recognizing that what you are doing is about you and no one else, is 90% of the breakthrough. The rest is the action you need to be willing to do which will take you to change and success.
Happy Trading, Living and Dancing
The Daily Pick - $DJIA
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Posted by Anni_V