Let us get back to the topic of developing a persona for the purpose of trading. A lot of nonsense is written about mindset but never ina way that specifically helps to develop the correct mindset for a trader. There are lots of books written about Psychology and so on but none of them are able to pinpoint the correct route to be followed.
This is because trading is a unique profession. Succesful traders do not have psychological problems, they have overcome their problems on the route and as a consequence of being successful, therefore practitioners do not get the opportunity to counsel successful traders because successful traders do not need counselling, having long ago cracked it for themselves.
In consequence of this practitioners are only apt to encounter the unsuccessful ones, and as a consequence, develop the wrong yardstick with which to measure all this. Also, as the successful ones do not have problems to air, no one really gets to know why it is they do not have problems.
In addition to this trading is very personal and experiential, therefore the practitioner will not have the experience of being successful himself or herself specifically in this particular field, and therefore will not know what to look for, what to avoid, what is the yardstick and ultimately, what is the desired mental state to be summoned on command, at will.
In consequence of this,and additionally, the practitioner will not have the correct template, which is an abstract template, which is the result of having the knowledge and experience, and thus being able to replicate the correct template in others, or at least trying to do so in a structured and effective manner.
In addition, as the trader who asks for help in solving his problems does not know how or from where these problems emanate, is not able to clearly explain in a way that a practitioner willing to help, can constructively understand accept and monitor, to the positive benefit of his client.
And, in addition, the practitioner will have experience in many other fields and sub fields of counselling,
but all of them so far removed from the abstract reality of the problems faced by traders that their knowledge and background would actually prove to be a hindrance instead of a benefit.
All of these inabilities on the practitioner side are typical but not an exhaustive list of problems.
What I have just mentioned above relates to only one side of the equation. The other side of the equation deals with the inabilities of the client. These inabilities are further exacerbated because the client is not able either to deal with his or her inabilities nor to be able to pinpoint them correctly.
The result is a tragic comedy type of situation in which there are two individuals trying to solve a problem but neither understands it fully or is capable of solving it. In the series of discourses that follow, we are going to leave out the practitioner. The client is going to do it for himself. It is a tricky and difficult excercise that can take a long time or not, depending on the level of absolute cooperation offered.
Standing in the way of us achieving our objective, there are many obstacles. These obstacles are not immediately recognisable or identifiable. In addition they are booby trapped in a way to prevent us from recognising or identifying them. It is a very difficult problem, but it is solvable. I have solved it for myself, on my own. It is very hard work, and often tedious and sometimes even unpleasant, but if you want to truly succeed as a trader, it has to be done.
I am willing to help anyone who is willing to progress. I am not willing to help the opposite. In fact, I have the ability to punish, and punish severely I might add, simply by diverting my attention to what else is worthwhile and by remaining silent and by withdrawing my help. From now on it is up to you. We are going to proceed in the days, weeks and months that follow to change the way you respond think and act, from a negative destructive posture to a positive constructive posture. But you have to cooperate. I cannot do it all on my own.