Kiev, Ari (1998) Trading To Win ~ Masterful Psychology

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.thing."Jim has to look for a reason to do something.If he thinks the banksare cheap and he wants to be long, that's enough information to hangThe Past Colors the Presenthis hat on.But he sets up criteria that are so impossible that he's miss-ing opportunities much of the time.He thinks his reasons must be asBecoming aware of your automatic thoughts is the first step in learninggood as the analysts'.He cannot see the forest for the trees.how to separate the unconscious past programming from creative"When stocks are way up I feel like I'm missing the whole thing andthoughts generated by focusing on the reality outside yourself.Observ-I get in on the last chair.When the price starts changing whether it'sing your thoughts from this perspective, you can begin to see how yourmoving up or down I just drop it and go on looking for somethinginterpretations, based on your past life principle, color the way you per-else.I don't stay with that thought," he said.When he does see a po-ceive and react to events.You'll discover that present events are not sotential trade, he hesitates.Then he gets angry that he's hesitated fig-stressful, but your memory of past experiences and the interpretationsuring the price is going up too much and pulls back.Somehow hethey lead to can create the emotional upset of stressful trading events,convinces himself not to play.He loses great opportunities.which can dominate your trading.You keep creating situations basedMitch, a former pro baseball player who, at 27, is already making sev-on these interpretations and trade from them rather than trading in theeral million dollars a year, sees the same behavior in his associate, Jake.here and now."I'll tell Jake we're long this stock because four days from now theJim is a case in point.Raised by professional musicians, he alwayscompany'll report earnings they're going to be really good and wehas been plagued by fear of failure.He has approached his trading withwant to be there," Mitch said."Even when the situation is good, Jakegreat ambivalence, both wanting to succeed, but fearful of not living upgets frightened if the stock moves down half a point.He'll want to sell.to his parents' high standards.He has mixed feelings about winningA half point doesn't mean anything.It's just noise.It's one guy banging A u.,r., of difficulty being able to sustain a winningVisual Tour Moves 65TRADI NG TO WI N64But the new financial target will give you a new perspective for your trad-bids.We're there for a reason.Who cares if it goes down another point?ing.Additionally, you can visualize your account as a portfolio in whichWe want to make four points on this trade."you can maintain positions for several days, if it's a good story.Or youWhether you act in ways similar to Jim or Jake or you don't, simplycan sell some, leaving a small position on while you keep your eye on itbeing aware of the structure of your thoughts will give you a muchand, when it starts to get better again, get your whole position back.greater capacity to actively participate in present trades.You will be de-You can add to your visual image of your portfolio with fundamen-veloping a capacity to differentiate between impressions that color yourtal research, with the economics of the situation, and with the talk onexperience of the marketplace and what is actually before you.the Street, and let that event play out.Don't simply sell because there'sA major step in visualization is recognizing habitual, negativea two-point loss.According to one technology trader: "Trust your re-thoughts and self-characterizations most likely to surface when facedsearch, create an opinion, and let those opinions play out, especially inwith a difficult trading decision.A mental image of "getting into thevolatile tech things."market late" or being "last to arrive at a party" can keep you from buy-This sector is fundamentally driven, this trader says, not because of aing a potentially advancing stock after others have already acted [ Pobierz całość w formacie PDF ]

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