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of success would have been higher. However, this approach takes much more insight and work to accomplish. |
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The mental ability to be flexible in your thinking is a requirement for success as a trader. It may seem that flexibility and discipline are opposed to each other. However, this is not the case. Traders without discipline will behave inconsistently, without conviction, and with no rules. They have little confidence, and little faith that they will accomplish the desired outcome. Disciplined traders will behave consistently, with conviction, confidence, and the knowledge that they will accomplish their final outcome. However, without flexibility their approach to the markets will be very rigid, almost guaranteeing their eventual ruin. The markets are a very fluid, and dynamic entityjust the opposite of rigidity. Consequently a disciplined trader with no flexibility will be constantly frustrated by the action of the markets. This frustration often leads to anger and resentment, which in turn lead to a desire to get even with the market. |
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Flexible traders, on the other hand, will realize that they are working with a very fluid, dynamic, and flexible entity. They will understand that although they must have discipline, they must also always be able to overcome the problems that the market throws forth. As a very successful trader once said: "You have to know when to follow your rules, and you also have to know when it's time to bend them." |
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I find that yoga not only helps me be flexible but also simultaneously strengthens my discipline. It is extremely difficult to overcome limiting beliefs about your physical flexibility by practicing yoga, and not let it affect your mental beliefs regarding your mental abilities and the markets. Your ability to be flexible is the result of developing your character traits of persistence, intuition, courage, discipline, and faith. There is a huge difference between a disciplined flexible trader and an undisciplined flexible trader. |
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Flexible traders are always willing to modify their methodology and beliefs in order to accomplish their goal of consistently producing profits. They are always ready to change their perception if it will increase their performance. As new information enters into the conscious mind, flexible traders will be ready to adapt to it, provided it meets all their correlated beliefs. Their level of discipline remains; in fact, it is because they are disciplined traders that they can be flexible in their perception and approach. |
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Do you think that Albert Einstein had tremendous mental discipline as well as the ability to be extremely flexible in perceiving new realities? Your responsibility is to develop the mental flexibility to perceive new methodologies and new market realities. What worked in the past may not work so well in the future. |
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