Psycho consistency

C

cpo

Guest
How to achieve mental consistency so as to stay objective and focused on the now moment, especially while in the market?

Perhaps the only way to achieve that mental state is having the same object of attention in both situations -- in and off the market. What is that object? Trading rules, trading plan, consistency rules, detachment from micro level results, less leverage, money management, personal goals?

In my experience, I have found that these steps can help:

- Lower leverage and risk per trade (1% or less, ideally);

- Positive expectancy on the long run;

- Detachment from per trade results (accepting chance and chaos); and...

- Realignment of trading objectives to execution (of rules), rather than monetary results.

cpo
 
I find that lack of confidence starts at the core of not truly understanding your trading system and lacking the ability to learn from it. There is nothing worse than losing money, then failing to understand how to look at your trading system to fix it. If you did know you could fix it, you would not lose confidence. It's like going to the gym. You go, get sore and tired, but continue to go because you KNOW it will make you stronger.

If you start with this as a corner stone, then add what you said, you will see your results improve a lot better. This is only my opinion, but if you talk to top traders, you will see this is a FACT amongst them all, they all know their system.
 
I feel it is next to impossible to lay out in any logical-linear fashion a map toward "mental-consistincey" in this game. The "inner game" of trading is something existential not intellectual. This "experience" pretty much defies the left side of the brain by its very nature. You can point to it with words, but the "finger pointing at the moon is not the moon itself".

Douglas came close with his latest treatise, but in the end -- still missed the mark. How many traders on this board have read his work, accepted it on some sort of rational level, but still can't achieve a state of "mental consistencey"?

The "inner-game" is the synergistic result of such a myriad of beliefs and lack thereofs. As soon as one try's to put there finger on it, the "it" eludes them. Every attempt to define it with the left-side of our brains will only serve to push it further away. Words can pave the road toward the door, they can probably even open it, but in the end it will only be the trader's direct experiences with her that will enable he/she to walk through it. Any concept, understanding or "truth"' grasped with words, but lacking the direct experience -- will be in vain and ultimately meaningless.

To paraphrase Herrigel;
How does one master the art of trading? Spend 10 years watching her, then become her, then forget everything and just trade!

Doubt that was what you were looking for CPO, but that is my truth.

PEACE and good-trading,
Commisso
 
Originally posted by J_Commisso
The "inner-game" is the synergistic result of such a myriad of beliefs and lack thereofs. As soon as one try's to put there finger on it, the "it" eludes them.

Words can pave the road toward the door, they can probably even open it, but in the end it will only be the trader's direct experiences with her that will enable he/she to walk through it. Any concept, understanding or "truth"' grasped with words, but lacking the direct experience -- will be in vain and ultimately meaningless.

To paraphrase Herrigel;
How does one master the art of trading? Spend 10 years watching her, then become her, then forget everything and just trade!
More...

"What is true of archery and swordsmanship also applies to all the other arts. Thus, mastery in ink-painting is only attained when the hand, exercising perfect control over technique, executes what hovers before the mind's eye at the same moment when the mind begins to form it, without there being a hair's breadth between. Painting then becomes spontaneous calligraphy. Here again the painter's structions might be: Spend ten years observing bamboos, become a bamboo yourself, then forget everything and - paint."

Zen in the Art of Archery
Eugen Herrigel

"For them the contest consists in the archer aiming at himself - and yet not himself, and thus becoming simultaneously the aimer and the aim, the hitter and the hit. Or, to use some expressions which are nearest the heart of the Masters, it is necessary for the archer to become, in spite of himself, an unmoved center. Then comes the supreme and ultimate miracle: art becomes "artless", shooting becomes not-shooting, a shooting without bow and arrow; the teacher becomes a pupil again, the Master a beginner, the end a beginning, and the beginning perfection."

Zen in the Art of Archery
Eugen Herrigel


Commisso:

These two quotes by Eugen Herrigel are my all time favorites.

Now about your question: Yes, that's what I was looking for. I just thought I would talk about bamboos with my friends as we observe them. What do you think? :)

Your truth, Commisso, as usual, is always welcome.

With good wishes in your quest for knowledge,

cpo
 
Originally posted by m_c_a98
I really enjoy the book Zen in the Art of Archery as well :)

Love most of Alan Watts' books too....
More...

Ahhhh Watts is LOVELY! One of my fav writers :D
 
Yumi to Zen... in Japanese... Great book!!!

You see Western thought of psychology is... mind mind mind... but I believe in Eastern thoughts of Health and your physical well-being together.

Look at it, your brain works because blood flows in your brain. Your metabolism determines your blood flow and has a important part in how much brain power you have. It all comes down to the fact that the brain is part of your body. Still metabolism isn't the only factor, there's Dopamin, Testosterone, B-Endorphine, and other chemical that affect brains. Still, having good health is an advantage... it looks like Dr. Van Tharp started getting into this with the eating plan... we are what we eat, right?

Thing to consider about.
 
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