What You Need To Admit When Trading - You Are Not In Control

In this article we're going to be looking into self-mastery of your trading psychology, and where we start is the illusion of control. So what happens exactly, when you keep losing composure of yourself while you're trading??

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Now, let’s get back…

You know this is a game where you're going to be losing some. It's not going to always work out. You know this is on a thinking level. At the same time, you get into these situations and all of a sudden that fear of loss kicks in really strongly and that urgency to get in, the urgency to make up for prior losses, that just kills right there.?

And that impulse, it's always there and the question is, why??

Why, after all this work you've done, the knowledge you've acquired, you know how to trade, you've proven that on your paper trading, but when you get in there and the heat's real, all of a sudden what you discover yet again is that you lose your composure just when you need to really have it down? What's going on here?

Well, let's start with just an understanding that, one, the brain and mind that you brought to trading is not going to be the one that brings success in trading. You’re thinking, "What? Why?"?

Here’s why … The brain that you brought from our caveman ancestors was built to control the environment. It wanted control over the outcome. It had to. It was life and death. It also did not want to lose. Understand, to your caveman ancestors, taking a loss meant you were some other creature's meal. You didn't want that. You have to fight back. You have to win.?

In trading, if you are looking at your trade, and it's going to hit that stop and it's going to take you out, all of a sudden you start moving stops and stuff like that, you are going back to your caveman instincts right there.

And what you're doing is you're saying, "I'm going to fight that sabertooth tiger. I'm not going to give up. I'm not going to get eaten. I'm not going to take a loss."

That's what's happening. And it just so happens that that emotional brain, the caveman brain, is enormously stronger than your thinking brain.?

Your thinking brain produces lies and alibis. It creates a narrative based on what the emotional brain, your caveman brain, has already decided. And herein lies the problem. You can't control the outcome in trading yet your caveman brain is designed to do exactly that.?

Also, in trading, you have to become incredibly good at taking losses, really good if you want to become a winner. Yet your caveman brain is absolutely diametrically opposed to taking loss. It's death.?

The other thing that you really need to grasp about why you're having problems with your composure in trading is this, your caveman brain doesn't have a clue about money. If it were to look at money, it wouldn't see anything there. It would have no meaning to it.

Yet, it understands power. It understands threat. Power is essentially defined as? survival in the short term.

It understands being able to make things happen. It understands controlling outcomes. It understands status.?

Here is what you need to understand. When our ancestors took on a wooly mammoth for the tribe, there were people going to get hurt and die. Yet, the people who went and undertook that attack were the ones that fed the village and they got tremendous status. So there was an urgency to take over a rational thought to do something nearly impossible, and yet it got wired in because it was successful.?

So you get the urgency. You also have a fear of loss. Nobody wants to die. And yet the key is this, money becomes a symbolic representation of power. Of your ability to survive - and that is extremely powerful.?

Not only did you get an elevation of your status as a leader, but you also got breeding rights. And this is really important to know as it explains why this reactive instinctual behavior got wired deep into our genome.

It became an evolutionary advantage for humans.

Now, to the caveman that's a big deal, because it's all about projecting genetic material into the future through the species. So powerful, very powerful, instinctual forces are at play here, and winning, it made you feel so good.?

Yet, in trading, the most dangerous thing in the world is not the fear of losing. A lot of people say, "Ash, if I can get past the fear of losing, everything's good. I'm really great. Thank you, thank you, thank you." Yet, when they get that, they find the next one, winning. Winning produces euphoria.

Euphoria as an emotional state really clouds the mind and it thinks that you're going to be winning as all the good days are here all the way. It's a drug.?

That is what you have to learn for self-mastery. Winning and losing, the whole idea that we bring that winning is a really great deal and you push hard, you push hard, you dominate. No. No, you don't.

What happens is the hunting style of a really, truly good trader is patience. It's not urgent. It waits to see what the markets, the jungle, will give it. So winning takes on a different meaning. Winning to the great trader is only landing on the right side of probability relative to you. There's no reason to get excited. Losing is only landing on the wrong side of probability relative to you. Again, no reason to get upset.?

As a matter of fact, you have to go on to be really good at losing to make your edge work so you can win, so you can extract more capital out of the markets than you give back in.

So we get this whole winning and losing, we get this whole idea about money and power, and what we see is that trading is the worst nightmare that you can imagine for that primitive caveman brain of yours.

The key is, that's not going to change. What has to change are the beliefs that you bring to the game of trading that you project onto the markets because, ultimately, you are trading your beliefs about your ability to manage the uncertainties and challenges of life, of trading. And your caveman brain doesn't know that you're trading. It thinks you're in the jungle. So you have this problem of where you're going to have to say, "How do I begin to work this?"?

In my courses, the very first thing I like to communicate is that emotions are not what you think they are. They're actually biological action potentials that overwhelm psychology. They are not psychological. The second thing is you're going to have to stop identifying with thoughts and beliefs. You're going to have to mindfully pull back out of them. And thirdly, you're also going to have to come to the moment where you have the courage to turn toward your darkness, the part of you that really hates losing, the mean inner critic that thinks, "I'm not adequate. I'm not good enough. I stink. I can't ever do this."

You're going to have to face that and realize, "No, that's a belief. It's not the truth." Because, in my work, I'm also teaching traders to be able to find something I call their inherent worth, where you have value beyond your performances.

You have value just simply because you're a human being. With that, you're no longer using money to be able to bump you up. If you win, you're still okay. If you lose, you're still okay.?

But this is the big deal. This is the place that you're going to have to go and you're going to have to reconstruct the psychology that you came stocked with. There's nothing wrong with that psychology. It's just that it's not right for the demands of working with uncertainty in trading.?

You're going to have to build that psychology so that you as a human being already know your value, your worth. It's not done by making money and then people respect you, or I'll be a big somebody or I don't necessarily deserve to win.

It’s also about believing that you're going to have to look at this and say, "What? What's going on here?"?

And when you do this, what you discover is that trading has become a powerful foray into self-mastery. Who would've thought!??

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