Knowing is the game.
Do you sense fear, greed, worry, or some other emotions when you, for example, fill up your vehicle?
I know a rather”blond-between-the-ears” PhD that had been a spoon-fed brat from arrival, she was the youngest child, everything was handed to her, pretty much.
Well, the very first time she went to fill up the car daddy bought her at a self indulgent gas station, she underwent a range of feelings from fruion to dread. She did not know where to put gas in, did not know how to work the pump, did not know how much to install, etc.. It was a nightmare.
Was the difficulty all in her head? Did she want counseling to cope with these feelings? Did she want motivational tapes and books? No.
She needed to know how to put gas in the vehicle. After she knew this, the emotion has been gone out of the experience, future and past.
(She may have had to figure out for herself how to take action, in which event positive mindset would have played a role, and kept her from giving up and sitting in her vehicle in despair. But that's as far as that goes.)
What's it mean to us?
Of course the market will always have unknowns. On any trade, you might have made more or lost less, and so you are wrong on each trade to that extent. You can't know what, but you can know what to do.
When you've observed a specific market pattern enough times to know this, or when you've been properly taught how to handle that specific situation and have confidence in that teaching, there will be no emotion involved. You merely do what you know you want to do. It could possibly be appropriate in this specific case, and it could possibly be wrong, but you are certain that, statistically, this is the thing you have to do, so you just do it.
Just when you know, can you have”ice in your veins”.
Today to go one further, there's nothing we find in the market that hasn't happened before.
A newbie looks at charts and is confused. A pro looks at charts and watch trade setups. He knows his favorites, can easily identify him , he knows how to remain focused and await the confirmation. He knows exactly when his system says to enter this installment, how to manage the trade, and when to depart. This is based upon his being taught, his study, /or experience. He is the system. He is confident. He is profitable.
What he's not any longer complied or hard to him than putting gas in a vehicle. There's a succession of steps to go through, and a couple of things to be cautious of and that's it.
We are told day after day, by literally hundreds of people that trading is chiefly plogical. If you're not profitable, it's only in your head.
That reminds me of a grade school teacher I had a dialogue with once. She said,”If he can't read we provide him an easier book. If he can't read that we provide him an easier one. If he can't read that people ship him upstairs to have him he must be ADD or something”
Quite simply, it wasn't her job to teach him to see. If he can't read, he must be mentally ill!
I figure that comes complete circle. Someone would have to be crazy to want to become a professional trader!
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