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reverse soon, or simply the knowledge that you are right? If so, you can be assured that your ego is in charge. |
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There are only two situations in which your logical conscious mind can by brute force overpower your ego. Both occur when the period of time you are trading in has elapsed (for example, yesterday for a day trader), and a new time period is just starting (the beginning of a new day). If the price that the market traded at in the previous time period (yesterday) is above the current price, and you are long, then you are losing money; if you are short, then you are making money. In other words, there is no way your ego can deny that truth. Your ego will always do its best to prevent you from responding in a decisive, unhesitating manner. |
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The ego is nothing more than a sense of self attempting to balance the thoughts of our conscious and unconscious mind. These thoughts are determined by our beliefs and what we value. The two strongest virtues we can call upon to control our ego are discipline and integrity. However, there is another way to gain control of our thoughts. That is to change our beliefs. When we combine our new beliefs with discipline and integrity, we can hasten the speed with which we control our ego. Why do we need to adopt new beliefs or change existing beliefs? To do otherwise will guarantee that we never become the consistently profitable trader we desire. |
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As noted earlier, our ego is constantly attempting to balance three forces. First, we have our conscious mind, which has rational, unemotional, and emotional thoughts and desires. Second, we have our unconscious mind, which also has desires and thoughts. Third, we have outside events acting on us. These events may or may not be controllable by our actions. They could have a neutral or a large impact on our physical or mental state. |
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Our unconscious mind will believe vividly imagined events as if they actually took place. It is incapable of telling the difference between what actually occurred and what we only imagined. If the event is imagined only once with enough emotional intensity, the unconscious mind may remember it forever. Likewise if an event is imagined repeatedly but with a low level of emotional intensity, it too may be remembered forever. The more vividly we can imagine an event using all five of our senses, the more real it becomes; and as the emotional intensity increases, the event has a greater and greater impact on our unconscious minds. Although our conscious mind can be controlled by our beliefs, our unconscious mind is totally and absolutely uncontrollablebecause it is perceiving things that our conscious mind fails to perceive. |
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Our unconscious mind is very aware of the events that we are experiencing and the thoughts that arise in our conscious mind. For example, in |
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