I cannot accept uncertainty
Imagine how difficult it must be trading with such belief. In our daily lives we constantly strive for certainty, we want the outcome to always be expected, and yet there is just too much we can’t account for.
How do you behave and feel when you try trading with this belief?
- Afraid – The Market can take my money at any given moment!
- Helpless – Anything can happen and I have no control!
- Restless – How can I be at peace when I have no control over my trading even a minute from now?
- Frustrated – All my work is for nothing, because no matter what I do, I am not certain of any single trade!
- Miserable – I try so hard, but all I get is more frustration each day!
- Lost – There are no trading opportunities I can see! Any trade I consider might lose!
- Panicking – I just placed a trade and the Market already behaves not the way I expected!
- Embarrassed – All I do is making a fool of myself, I always buy at tops and sell at bottoms!
- Withdrawn/Apathetic – I don’t even want to look at the Market, there is no doubt it will just go against me yet again…
- Tired – The more I analyze, the worse results I get, my efforts – all for nothing…
Well, I don’t want to go to “Suicidal”, but it is true that our beliefs can push us into dark corners of our minds indeed.
Why are we doing this to ourselves? Why do we need to be certain of the future, when we know for a fact that it’s impossible? If you need to be certain, be certain of this:
I have no idea how the Market will look a second, a minute, an hour, a day or a year from now!
So how do you trade, when nothing is certain? Just like Bruce Kovner said in “Market Wizards”:
…making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money.
Let’s see if your thinking changes when you consider just the opposite of the belief we started with:
I completely accept uncertainty on the market. I have no idea where the price will go.
How do you feel now?
- Liberated – How great it is not having to know!
- Concentrated – Now that I know what I don’t know, I can concentrate on my analysis better, without having to be right.
- Confident – Actually, now I know exactly what the outcome of my trade will be – uncertain!
- Relaxed – My job is to explore the opportunities, Market’s job is to show me if they work or not. I simply concentrate on my business and let the Market do its own.
- Amused – Each single step the Market makes is always a pleasant surprise for me – it simply teaches me and shows me where it goes.
- Fascinated – It is amazing how balanced, harmonious the Market is, if I but let it go!
You can have the best trading system in the world, only to be ruined by your own thinking.
True, you might not become profitable even when your beliefs are in harmony with the nature of the Market, but you will become the greatest learner, watching and following the greatest teacher there is in trading.