Train To Let Go Of What's Not Yours
"Whenever you experience the pangs of losing something, don't treat it like a part of yourself but as a breakable glass, so when it falls you will remember that and won't be troubled. So too, whenever you kiss your child, sibling, or friend, don't layer on top of the experience all the things you might wish, but hold them back and stop them, just as those who ride behind triumphant generals remind them they are mortal. In the same way, remind yourself that your precious one isn't one of your possessions, but something given for now, not forever . . ."
—EPICTETUS, DISCOURSES, 3.24.84–86a
Today's meditation is linked to the last couple of days and again it can be compared to trading.
By controlling the level of attachment to a trade, we are also controlling the fear factor, because we are adopting a totally neutral trading mindset, once our trades go in play. This means that we are reacting and adapting to what is actually happening; but only if we need to of course.
Most of our trades that we have researched and that have met the rules/criteria for our strategies, will go according to plan, based on the historical stats/data that we have used. We only need to react and adapt, if the trade is not going to plan. This is why we avoid heavy attachment, over-confidence, complacency, even casual arrogance, in believing that all we have to do, is place the trade and we are on to a winner! A lot of times this actually happens, but we have to be prepared and "in the zone," for when we need to intervene and cut our trade short for a controlled loss, BEFORE it becomes unmanageable and a threat to our trading bank.
By adopting this neutral trading mindset, we can react in a heartbeat, when we need to, so we must never be complacently off our guard and must always be ready to expect the unexpected.
Like I have said many times before, the winning trades are very straight forward and will look after themselves; it's the potential losers that we must nip in the bud at our pre-agreed exit point, to stay in the game for the next battle!
Don't marry your trades; once they are in play, let go and trade only what you are seeing, rather than what you hope/expect will happen!
As the title of today's meditation says; "Train to let go of what's not yours"
With hard work and practice, it can be done, of that there is no doubt!