General discussion : Help for new Traders - Focussing on now Part 2

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JollyGreen
Posts: 2033
Joined: Sat Mar 21, 2009 10:06 am

Fri Sep 06, 2013 11:24 am

Today I am suffering one of my worst relapses for ages but thankfully I had already written this article. I will be around today but things are a bit :?

I have watched many people as I try and help them to learn the markets. I can often look at a market and see a clear opportunity but the student does nothing. I never put pressure on them and simply wait until the market finishes and then discuss it with them. They usually say “Oh yeah, I didn’t see that!” That is because they are looking but they are not seeing. I know that probably sounds like mumbo jumbo so let me try and explain.

They are not seeing the opportunity because they are looking for what they want to see. This means they are thinking about the outcome which is basically the future. I have already said you cannot affect the future. Some are thinking about what happened the last time they saw a similar situation they are worried about the past. As I said, the past has gone and you cannot change it. They are not looking and dealing with now, they are letting their minds allow past and future thoughts to distract them. Hey, it’s easily done and I am not trying to patronise anyone or act superior in any way. I am saying that once you acknowledge this issue, you can use separation (breathing) to bring you back to now and then devote all of your brain power to the task at hand.

To help you make sense of that let me use a couple of examples.

You visit the local shop to buy some ingredients for a meal you’re going to cook. You have the list and having put the items in your basket you make your way to the checkout. Time has ticked on and you’re keen to pay and get home in time for (insert your event here). There are only three tills open and the queues are long. First you have to decide which the best queue to join is. Sod’s Law dictates that whichever queue you join, it will be slower than the others! You know the feeling when suddenly people who came after you are closer to being served. Now you have a dilemma, should you swap queues or stay where you are? You look at your watch and time is flying by. Just when you think it’s moving the old lady at the front starts to dither. Her bill is £19.70 and whereas most people would hand over a £20 note and take the change she says “Ooooh, hang on love I think I have the correct change!” She then proceeds to count out 10p after 10p and finally she gets to £19.50 and is 20p short. At this stage you are willing to give her the bloody 20p if she would just clear off and let you get served. I know I can’t be the only one that has experienced this event! Finally it seems she will hand over a £20 note but then she says “Oooh, wait a minute there’s some loose change in my shopping trolley!” Aaaarrggghhhh.....you’re screaming inside and your head is going to explode. At last she pays and the queue starts to move again. It’s then you’re turn to pay and shit, you’ve forgotten the (insert item here)!!!! Okay so that is the equivalent of a student looking at the market whilst I am sat with them.

Now let’s look at the queue only this time you are concentrating on NOW and NOW only. You reach the queues and aim for queue 2. You accept that there is nothing you can do to change the situation, it is what it is so just let it happen. You start chatting to the lady/man next to you who is very pleasant. You notice a very attractive man/woman in the other queue and exchange smiles. The queue seems a bit slow but hey what can you do? The old lady is counting out her change but you’re not bothered. Then you hear a voice “excuse me Sir/Madam would you like to come to this till?” They’ve opened another one to deal with the queues. You move over and then realise you’re forgotten the (insert item). No panic, you turn to the person you’ve been chatting to and they’re more than happy to hold your place in the queue while you run off and get the item! That is the equivalent of looking at the markets in the NOW and seeing what is happening.

The same situation but a totally different outcome. If you allow past and future thoughts to dominate, you will miss what is happening. It’s a bit like a rabbit in the headlights totally frozen. You are concentrating so hard on what you want to see that you are totally missing what is actually happening. When you look at a market treat it as a friend and let it show you what is happening.

You can make an assessment of a market and even make a prediction on what might happen. However, do not set that prediction in stone rather, be prepared to change it if the market shows you something different. As it changes you must change with it and stay focussed on the now. So trade what you see and NOT what you want to see. If you focus on now I think you’ll find it is so much easier.

This will not make you an overnight success but it will help you to relax, enjoy it and learn what is happening. If you make mistakes, no problem, you will probably see what went wrong and you can learn from it. If you miss the signs because you are looking for you what you want to see then you will never learn and simply get more and more despondent.

Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Fri Sep 06, 2013 12:52 pm

Another great article Dave.

I'm reminded of Bruce Lee's advice to 'be like water'.

Hope you get better soon.

Jeff

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RussellMarsh
Posts: 8
Joined: Sat Sep 14, 2019 2:44 pm
Location: Rossendale UK

Fri Sep 20, 2019 9:55 am

It's been a very cool short psychology course and I have enjoyed it immensely and appreciate the time it must have taken to get it all down and all just to be nice! (There's another lesson!)

I will come back many times to re-read I am sure - I hope you are better very soon.

Thank You!
Russ

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