Society pushes us to chase money, power, and a faster, wilder existence. Don't pause or reflect. Don't lag behind.
Overschedule, overthink, overwork. That's progress, right? That's success, right? Early on, we think this is normal, and it becomes an addiction.
We're never still. Sitting stationary makes us feel unproductive, just like an addict. We're agitated because we're losing time.
Patience in trading is gold. Nothing can be productive. As addicts, we become more productive as soon as the trading session begins. We can't seem to relax.
We examine, anticipate, worry, stress, and modify when we shouldn't THE REASON.
Thinks? Have you noticed these thoughts are constant? Have you observed visual thoughts? – Your mind is filled with memories, plans, and fantasies.
Have you noticed you have sensations in and on your body, some physical, some emotional?
Thoughts and sensations are ongoing.
You're pulled to mental and body states, and you're often unaware. You believe the stories, and they influence how you act. Exactly. Do you agree?
Then you enter trades at the incorrect moment, leave at the wrong time, remove your stop-loss, increase or decrease your position size... You're breaking trading regulations.
Your lack of urge awareness costs you money. Trading is a waiting game where you strike at the proper time. You're in the wrong field if you want personalized action. Traders must be self-aware.
The market moves at its own pace. Self-awareness helps you be patient and 'do nothing' when that happens. This saves time and energy. It brings you tradesmen. The chasing stops. It respects nature and evolution.
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Let your mind wander. It generates stories and feelings that urge you to act a specific way. Your goal is to accept yourself without changing or controlling anything. Exist.
Follow your curiosity. You can fantasize about a 100% return deal, fret about missing an opportunity, dread a loss, or think about nothing.
Observe. Mind wandering? Tune into the part of you that observes your thoughts and feelings instead of becoming captured by them.
Your mind's observing is neutral. It's not enmeshed in narrative or emotional and physical states. Observes Unfettered, pure, neutral...
Finally. That's it!
Day traders can use the do-nothing strategy since they must be in front of their screen from trade selection to exit. It's also useful for swing and position traders. You can use it in and out of the market.
This approach helps you endure your body and mind, reducing impatience. Impatience is trying to compel things to happen by thinking them more intensely or more often, without paying attention.
Patient people are great observers. You know when something can happen and when it can't. Different things happen at different points in different cycles. You stop creating activity on your own and instead respond to it in a systematic way.
Do-nothing is hard at first, but this is where you start. Tom Basso (in The New Market Wizards) adopts a similar strategy.
You don't even need to meditate, but you can. Observe your attitudes and don't defend yourself. You're joyful, bored, fatigued, eager, nervous, afraid, greedy, and restless. Observe oneself experiencing these states. That's impossible.
If your mind is noisy, you may want to take action before you get a trading signal. All that mental "noise" isn't an issue and shouldn't be resisted. Resistance makes noise louder.
This act of detecting the noise is powerful because it allows you to observe your mind and body from a third-person perspective. This creates objectivity, so you can say, "Okay, this thinking, sensation, or urge is against my trade guidelines, so I won't act on it."