YES….IT IS HOT DURING SUMMER…
“The person who loses the least amount of money when
things go wrong inevitably wins.” – Chris Tate
Apparently, this little piece of information is a complete
and utter surprise to most Australians
judging by the level of commentary attached to the current hot spell
sweeping the country. The point that most intrigues me is that Australians are
constantly surprised by the fact that their country gets friggen hot during
summer and each year they proclaim their surprise loudly and annoying. For
example I live in what is referred to as one of Melbourne’s leafy green inner
suburbs where the standard garden seems to be the English cottage style which
about this time of the year looks as if it has been napalmed.
My neighbours as well as most conservative politicians seem
to believe that Australia is a small island anchored off the Cornish coast as
opposed to a bloody big, parched, mostly uninhabitable island in South East
Asia. Even our maps tell a false tale in that they contain images of wonderful
verdant countryside that apparently stretches for hundreds of kilometres
inland. This is news to anyone who spends a lot of their time in the air
actually looking at the countryside.
Each year we rail against the reality of our situation as if
we are continually surprised each time it occurs. There is a profoundly
irrational core to this belief since it reflects a simple inability to accept
reality or to somehow believe that you control certain parts of your reality.
There is the wonderful refrain – it should never be this hot.
The problem is that
it is this hot and will continue to be this hot long after we are gone. This is
also a traders lament after all how often have you heard someone say that
prices couldn’t possibly stay at this level – they have to recover. The natural
order of things is that price can go where they want and you have no control
over that. The issue here is acceptance of reality – in summer it gets hot and
prices can and do go down. Acceptance of these simple facts makes life much
easier.
Emotional conflict arises when your belief structure is at
odds with reality and dealing with this involves finding out what the
problematic belief is, offering some form of counter to it and then replacing
it with a more useful and realistic belief. For example believing that the
price of something you have bought could never go down is an unrealistic and
destructive belief as there is a vast cornucopia of evidence to the contrary.
The disputation comes about simply by looking at the
evidence to the contrary and the new and liberating belief is that price moves
and sometimes it moves against me. The movement against you is not the issue
but rather your reaction to that movement. Life as a trader becomes much easier
when this sort of regime is put in place.
Author: Chris Tate
Article reproduced with kind permission of
Tradinggame.com.au
www.tallinex.com wants
you to be a successful trader
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