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respect or integrity; accepting the haphazard, random-walk aspect of the market rather than letting it drive you crazy and fighting against it; letting the market come to you; being comfortable making few trades or no trades; understanding that sometimes doing nothing is the best strategy and the best way of feeling in control. Accepting loss as an inevitable part of trading, no matter how skillful or experienced you might be. |
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Feeling that we are losing control we had or helpless to gain control at all. Resignation, anger, frustration, and rage as reactions to not being able to effect change in our lives; having to accept unpleasant conditions against our own will. |
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"Learned helplessness" or giving up any attempts to gain control after repeated attempts to change one's life do not work; not doing homework to improve trading knowledge and techniques after a number of losing trades; giving in to depression and helplessness when money has been lost; passively letting losses mount up without getting outside help out of embarrassment, shame, and false pride. |
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Giving in to pressure of others to buy a stock on a tip, holding a stock longer than one wishes, staying invested when one wants to be in cash, or any number of other situations in which we give in against our own best judgment because of peer pressure, need for acceptance and approval, or fear of making our judgment independent of others; passively following the herd; not making the effort necessary to gain the skills needed to be successful. |
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The optimist-gullible trading type, presented in Chapter 2, is the most likely type to get caught in the negative yielding mode, although by no means is it a trap exclusively reserved for them. |
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Control Process and Techniques |
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Now that we have distinguished between assertive and yielding modes of control and given examples of both positive and negative forms of each, we want to offer some strategies and techniques for working with the positive mode of asserting and the positive mode of yielding. |
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Whether we employ the active mode of control or the yielding mode, our strategies for control are to change the environment, change our behavior, or change our consciousness. All three of these |
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