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Strategies & Market Trends : Trade What You See, Not What You Think
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To: Threei who wrote (646)6/18/2001 9:43:40 AM
From: Apakhabar  Read Replies (1) of 867
 
One insight I was particularly taken with in the Douglas book of interest to this thread is on page 63 when he says:

Needing....self-control would imply an internal conflict where one force is being used to counter the effects of another. Any degree of struggle, trying, or fear associated with trading will take you out of the moment and flow and, therefore, diminish your results.

I admit I hadn't thought of self-control in this way. No doubt that it's important that one does not lose control of one's emotions. But the reverse, "having self-control" has some negative implications. In the optimum state of mind having or not having self-control is not an issue. When I'm trading at my peak for example, I've never thought, well, I'm certainly showing good self-control here. On the contrary, the only times I've ever really thought about having self-control were during bad trades that, through "self-control" I did not make worse by averaging down.
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