Originally posted by darkhorse
Am I skeptical and opinionated, yes. Am I insecure or close minded, not in the least. And calling me close minded is neither here nor there because its such a freebie insult. Any person who disagrees with any other person anywhere can be called close minded for no reason other than that they disagree.
A close minded person is one who does not consider new evidence or new lines of argument in the first place. I have considered what is being discussed here in great detail, deeply and fully and long before I ever came on this board. And I have found it to be wanting. That's not close minded, that's open minded but willing to stand up and make a judgment call based on what I know.
Let me expand on my view a little bit.
Someone suggested that being fully detached from wins and losses would equate to trading nirvana, and questioned whether anyone would disagree with that. The answer is yes, I would whole heartedly disagree with that. I believe that any attempt to artificially anesthetize reality results in losing touch with reality. Denying emotional input would be consistent with that anesthesia thesis. When you hit your thumb with a hammer, you feel pain. Why do you have pain sensors? So that you know something is wrong. Your body is telling you, 'hey buddy don't do that again or you are going to screw up our thumb!'
If your perceptions are skewed, pain and fear are your enemies because your skewed perception tends to create overly negative experiences that blow the actual situation out of proportion and thus cause over reaction on the negative side. But if your perceptions are correct and objective, then emotion, pain and fear are your ALLIES because they give you valuable input that allow you to improve and grow.
I believe that first and foremost we must embrace reality. How do you know you are doing something wrong if you refuse to listen to negative signals. How can you sharpen and hone your skills if you spend all your time convincing yourself that everything is perfect. How do you cultivate your drive to succeed while attempting to convince yourself that it doesn't matter whether you succeed or not.
On another note, I am an emotional person and I enjoy having a wide range of emotions. I feel that having emotions contributes to the glory of life. Paul Tudor Jones once said that if he could choose between being steady and normal versus having glorious highs and aching lows, he would take the highs and lows every time. Why? Because that is LIFE, that is LIVING. But it's a two way street. If you want to feel triumph, you also have to feel despair at times. I would much rather maintain my sense of humanity and my sense of experiencing reality to the fullest. And you know what? In a weird way, the pain is as beautiful as the triumph when it's all said and done. Some of my darkest hours have led to my greatest strides forward. When I am angry or depressed, my emotions act like a catapult. I fall back, back, back- and then my self pity is galvanized into cold steel resolve and I feel a ferocious determination to come back and succeed twice as large. When I am hit with a painful blow, I take the pain of that blow and I transform it into knowledge and energy and come back stronger than before.
Metal is tempered by fire. To be fully tempered you have to walk through that fire and let it burn. If you try to deny the truth of experience, the true victories and defeats of life, your motivation will suffer.
A 'false calm' perspective carries the danger of distorting input, dampens motivation, and removes some of the joy of living life to the fullest in my opinion.
Do I seek enlightenment? Yes I do. Do I seek detachment? Yes I do. But NOT as ends in themselves. When I understand what is going on in the markets, that is, when I am 'enlightened' as to the current state and being of the markets, I feel detached. But it is a byproduct of my striving for knowledge. I do not worship detachment, nor do I seek it out in a hurry. Because it is only proper to be cool and calm when things are going well. When things are NOT going well, you should NOT be cool and calm in your motivations, you should be aware and alert and single mindedly intent on fixing what is wrong!
I believe that trading is in many ways a microcosm of life. A fractal piece of life if you will. Attitudes that we take the markets, we should take to life. Who among you desires to live life with no concern for triumphs or defeats? When you see your children born, when old friends surface after years of lost contact, when something horrible happens to a loved one, do you want to feel the full force of your emotions or do you want to be detached and saying 'hmmm, look at that?'
I resent any attempts to deny the true force of reality and consistent elements of life. This is why I say, do not try to artificially distance yourself from emotions. Learn to CONTROL your emotions, but do not dampen them with mental tricks like trying to say wins and losses don't matter. Great googly mooglies, what is the point of trading if not to ultimately WIN???
Yes I know, there is a dichotomy, a conundrum. We must be focused on the long term goal but be calm and collected in the short run. But the answer is NOT to take a short run perspective of 'ooohhhmmmm, nothing maters, oohhhmmm.' We must learn to CONTROL our emotions, not defang them.
Imagine your emotions as a powerful lion. The wider emotional range you have, the bigger and more powerful the lion is. This lion can be your enemy or it can be your ally. The way of artificial detachment would be to defang and declaw this lion and shoot him up with opium, so that he has no power anymore. But then he cannot HELP you either. I say, do not declaw this lion. Learn to control him.
Publias quotes Zach De La Rocha (who in turn quotes Galatians). One thing old Zach did say that I feel has merit is this: 'anger is a gift.'
I suppose it depends on how far you want to go in life. But even then, emotions are your allies rather than your friends. If you take trading as far as you want it, then guess what: your emotions will calm down by themselves! If you are trading small amounts and not risking much and paying the bills, you'll have highs and lows sure, but by and large you will be cool and it will become 'just a job' NATURALLY without ARTIFICIAL PRETENSION that 'wins and losses don't matter.'
But if you want to take your trading farther, if you want to walk a higher path, play a bigger game, you need that lion. You need his motivation and you need his input. You need the drive to be constantly learning and growing. You need to FEEL. And you need to stay as IN TOUCH with REALITY as possible.
Traders are fond of saying 'let the market make the decisions.' In this vein, I say 'let reality make the decisions.' If reality is pissing you off or getting you down, that is a sign that YOU need to change your perception, your knowledge or your actions. Think, grow, learn, look at things in a new way. But jumpin' jehoshafat, do NOT go into some fantasy land of ohm!