Monday, May 25, 2009

Thoughts on Trying Hard

I found this excerpt in Mark Douglas' book: Trading in the Zone. I believe these few lines point out something very essential in trading. In life, if you you don't succeed you don`t give up. You do it again and try harder the next time.

When it comes to trades, letting winners run, trying to force winners, it usually doesn`t work. Since a market is a mix of all the unknow participants` opinion of a price at every moment, it`s price action can not be perfectly calculated.

Many times, I did not agree with the price action, I felt impatient etc. My perspective was wrong. And these few lines helped me understand why.

"Traders who are consistently successful are consistent as a natural expression of who they are. They don't have to try to be consistent; they are consistent. This may seem like an abstract distinction, but it is vitally important that you understand the difference. Being consistent is not something you can try to be, because the very act of trying will negate your intent by mentally taking you out of the opportunity flow, making it less likely that you will win and more likely you will lose.
Your very best trades were easy and effortless. You didn't have to try to make them easy; they were easy. There was no struggle. You saw exactly what you needed to see, and you acted on what you saw. You were in the moment, a part of the opportunity flow. When you're in the flow, you don't have to try, because everything you know about the market is available to you. Nothing is being blocked or hidden from your awareness, and your actions seem effortless because there's no struggle or resistance.

On the other hand, having to try indicates that there is some degree of resistance or struggle. Otherwise, you would just be doing it and not have to try to be doing it. It also indicates that you're trying to get what you want from the market. While it seems natural to think this way, it's a perspective fraught with difficulties. The best traders stay in the flow because they don't try to get anything from the market; they simply make themselves available so they can take advantage of whatever the market is offering at any given moment. There's a huge difference between the two perspectives."

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