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Trade Mindfully: Achieve Your Optimum Trading Performance with Mindfulness and Cutting Edge Psychology by Gary Dayton

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CHAPTER 8

Acceptance and Committed Trading

It is universal truth that all traders experience stress along with unwanted emotions and thoughts sometimes in their trading life. No one is completely free from this. Trading will always have moments of pain. There will always be mistakes made, missed opportunities, losing trades, down days, and even slumps for protracted periods. There will always be adversity in trading because trading is a game of probabilities. Any given trade has a probability of a win and also a probability of a loss. Losses are, therefore, a certainty in trading.

No one likes losses. There are obvious financial consequences when we suffer losses, and there are also psychological consequences associated with losses, that is, pain and stress. Hence it is only natural that we do not like losses. But interesting enough, it is not the pain and stress themselves but the struggle we have with the pain and stress that actually causes trading problems. This is of vital importance for traders to understand. Let's be very clear: It is not stress itself that causes trading difficulties, but our rejection of stress and fighting it that creates trading problems. As we have seen earlier, working to escape, control, manage, or get rid of unwanted emotions and thoughts takes our focus and attention away from our trading tasks, thus causing trading problems. And, it is not just trading problems, but problems in life as well. Psychologist Steven Hayes and his colleagues assert ...

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