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.He is invested in a long-term self-concept ofbeing abandoned and left behind.The repeated reactivation of this fa-Living in the Gap miliar demon keeps him from investing his energies into trading.Totrade in terms of his abilities and his conscious desire to succeed, heBy putting an emphasis on commitment, you empower yourself.You must recognize and give up his self-concept of being abandoned.Thisrealize that your goal is not about building your image or getting ap- will help him let go of his built-in negative expectations of himself,proval, which you may search for when you feel envy, jealousy, or which reinforce his impulse to keep taking certain but limited profits.boredom.Rather, it is about focusing on doing what is consistent You can't get away from telling the truth to yourself.If you reallywith your goal.want to produce a specific result you should acknowledge it, and thenLet me emphasize that living in the gap is not so much about develop a strategy consistent with the result.achieving the results as it is about living in terms of the goal, rather Once you realize that you don't know what your limits are, you arethan becoming attached to it.Results are simply a measure of your ' better prepared to live in the gap.In fact, it is the size of the discrepancycommitment, telling you how you are doing and what is missing.If you can tolerate that determines the amount of energy you can generateyou don't produce a result, look to see what is missing from your strat- so as to shift your life into a miraculous realm.egy and trading actions.Don't become attached to your results, eitherexulting in having reached them or feeling inadequate for not reachingthem.Overcoming FearAsk yourself constantly, "Am I willing to do what I said I woulddo?" Repeated review of this question over time will help you to get The greatest resistance I run into when working with traders concernsmore engaged in your trading and less handcuffed by fears and out- fear the avoidance of the tension that is created when a trader is asked 100 Percent Commitment 111110 TRADI NG TO WI Nto commit to specific financial objectives.Most traders prefer pursuingTen Tough Questions to Ask Yourself about Tourvague goals such as "doing the best possible." Like most people, tradersare reluctant to commit themselves to an uncertain future without a1.What is the amount I intend to make?guarantee that they will be able to produce the result.They may not see2.By when will I make it?for a while, if ever, that promising the future will raise their level of per-3.What do I have to do that I am not doing now in order toformance.produce this result?This process does not simply mean working harder or pumping4.What beliefs and habits of trading do I have to relinquish toyourself up with positive affirmations (which more often than not causestay with the goal?burnout and frustration).Instead, it involves a willingness to explore all5.How much capital do I need?the ramifications of your trading.To do this, you must ask tough, spe-6.How many shares must I purchase, and how long should Icific questions.hold them?You will experience discomfort when you begin trading at new lev-7.When should I enlarge my position?els.Until you learn how to tolerate it, you may experience internal psy-8.What must T pay attention to with regard to managing mychological pressure to lower your trading target and to revert to old andlosses?familiar ways.Before you know it, you are "trading not to lose" instead9.How much more capital can I put at risk so as to increase myof "trading to win."profitability on the upside while managing my downside risk?How do you learn such tolerance? Start by observing how your10.What else can I do to increase confidence in my tradingthoughts and behavior patterns keep you locked into a particular trad-selection?ing plateau.Only then can you develop new behavior to go beyond thatcomfort zone.Jed, for example, had been consistently successful in making awell.Allow yourself to be fully alive to whatever you are feeling in thesteady daily profit for more than a year, and with prodding from hismoment before you.Allow your financial goal to create a context ofmanager committed to an increase in position size.After several monthschallenge, which will lead you to become more engaged in the now.of unsuccessful trading, close analysis revealed that he was trying toscale into a longer position a little bit at a time and was paying moreeach time, perhaps even contributing to the rising price."If you areLiving in the Presentconfident about the stocks, buy more to start with.That's how to playbigger," his manager said."Trust your judgment."To be in the now is to be present to the world with the knowledge thatIt takes a firm decision and considerable practice in self-awarenessyou have everything you need to realize your vision.You allow time forto resist impulses to reduce tension, whether by taking positions thatare too small, as Jed did; by scalping quick profits; or by holding on to a things to develop without pushing for closure.You accept the uncer-tainty of reality, and do not see it as a reflection of your own inadequacylosing position in the hope that things will turn around.It takes aor incompetence.You stop focusing on the future and recognize thatstrong resolve to circumvent the natural pull toward avoidance andthere is only the moment before you in which to act.withdrawal, which gets especially intense as you get closer to reachingYour goal is both a compass and magnet, but it is not an end in it-your objectives.self, nor is it the be-all and end-all.It is useful in helping you to becomeMost of your distress comes from covering up your feelings andas fully engaged in your trading as possible, but its realization will notthoughts, not from the actual event.When you are trading, if you arefulfill you.fearful, feel the fear.If there is sadness below the fear, notice that as 100 Percent Commitment 113TRADI N G TO WI N112Here's how Jed handles such a situation."I check out my losersShifting Strategieswhen I know there's no upside to them, when a stock doesn't reach thepoint where I think it should go.Hoping becomes a distraction, and IWith a new and expanded vision of yourself, you will be able to ask dif-find that if something becomes a distraction it's like rolling the dice Ificult questions of yourself and take difficult positions to transform yourdon't have an edge.I have to kick the whole day out.Granted it may gotrading approach.up, but it's just one of these up-in-the-air situations."Proactive strategies usually require a conscious shift from habit.To succeed, the trader must separate comfort needs from tradingPhil, dominated by memories of "crashing and burning," was afraid toreality in order to act rationally.This proactive approach enables ause larger amounts of his trading capital to buy and hold volatile stocks.trader to drop a preoccupation with losses amid a negative spiral
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