Trade Like an O'Neil Disciple: How We Made 18,000% in the Stock Market

10.2. ECKHART TOLLE: HELPING PEOPLE ACHIEVE INNER PEACE AND GREATER FULFILLMENT, A PREREQUISITE TO OPTIMIZED TRADING AND LIVING

Eckhart Tolle has become one of the great spiritual teachers of our time. The Power of Now has had a hugely positive impact on the planet and has been translated into fifteen different languages. The essence of his teaching is simple: Remain in the present, for that is all we have. But so many people find this challenging as they obsess about the past on some wrong that was done to them or some mistake they made.

Here are some examples of the mental games traders can play:

• "I can't believe I sold that stock under what I paid, so even though it's set up to buy again, I won't touch it. Fool me once, shame on you. Fool me twice, shame on me."

  So this trader lets his emotions get in the way of his rational thinking. He got burned once by this stock, so now he has a negative bias against it, even though it may still be a perfectly good stock with a great buy point.

• "I am so upset I held onto this position too long, so I'll just wait until it gets back to where I paid so I can at least break even on the trade."

  Meanwhile, their focus is often taken away from new stocks that are buyable so they miss out on new profitable opportunities.

Just as with obsessing about the past, many people worry about the future. For example:

• "I hope the stock I bought goes higher even though it's well under what I paid for it."

  Instead of hoping, they should fear instead the possibility ...