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The Three Big Questions for Apprentice Traders

InvestorEducation / Learn to Trade Mar 09, 2009 - 03:51 PM GMT

By: Dr_Janice_Dorn

InvestorEducation

In ourselves are triumphs and defeat… Henry Wadsworth Longfellow

Tolstoy's story “The Emperor's Three Questions” poses three questions:


1. What is the best time to do each thing?
2. Who are the most important people to be with?
3. What is the most significant thing to do at all times?

In the story, the Emperor traveled far and wide in his Kingdom to find the answers.  One day, he came upon a hermit who lived in a small hut atop a high hill. When asked these questions, the humble hermit replied:

1. The most important time is now, because that is the only time over which you have  power and control.

2. The most important person is the one you are with right now because you never know if you will be with that person again.

3. The most significant thing to do at all times is to be happy and share that happiness with the person you are with.

The trading lessons are simple—but not so easy:

1. Be with the trade you are in at the moment.  Stop trying to control anything but your own trade.  The markets are going to do exactly what they want to and when they want to. YOU have the power to control what YOU feel, think, believe and do.

2.  All that matters for you is the trade you are in.  You may never see that trade again.  Savor it, cherish it and be with it for as long as it lasts.

3. Celebrate your victories with yourself.  Celebrate the trade and with the trade.  The instruction is to refrain from boasting or grandiose behavior when you make a winning trade.  The markets will humble you, and pride always comes before a fall. Napoleon said that the most dangerous moments come with victory. Decry and avoid hubris.

Also celebrate your defeats with yourself and the trade because they are mistakes.  Mistakes are our greatest teachers because it is through them that we learn. What do we learn?  Not to make them again!

Constantly strive to look inward, to know yourself, to raise yourself to the highest level of authenticity.  Be rigorously honest about who you are.  Taking personal responsibility for your thoughts, feelings and actions is the first step to true inner peace—both in trading and in life.  Never forget the ten most important words you can ever and always ask yourself:  Am I doing the best I can do right now?

The ultimate victory in competition is derived from the inner satisfaction of knowing that you have done your best and that you have gotten the most out of what you had to give… Howard Cosell

Until Next Time,
Good Trading and Brain On!

By Dr. Janice Dorn, MD, PhD
Prescriptions for Profits
www.thetradingdoctor.com

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© Copyright 2006-09 -- Janice Dorn, M.D., Ph.D. -- Ocean Ivory LLC

Dr. Janice Dorn is a graduate of the Albert Einstein College of Medicine, where she received her Ph.D. in Neuroanatomy. She did her postdoctoral work in Neurophysiology at the New York Medical College. She received her M.D. from La Universidad Autonoma de Ciudad Juarez, did one year of clinical clerkships in Phoenix, Arizona. and then completed a Neurology Internship at The University of New Mexico in Albuquerque. For the past twelve years, Dr. Dorn has focused her attention on trading, mentoring and commentary in the financial markets, with emphasis on Behavioral NeuroFinance, Mass NeuroPsychology, Trading NeuroPsychology, Futurism and Life Extension. A graduate of Coach University, she is a full time futures trader and trading coach.  Dr. Dorn is the author of over 300 publications, relating to Trading and Investing Neurouropsychology, Market Mass Neuropsychology, Behavioral Neurofinance, and Holistic Wellness and Longevity. 

Dr. Janice Dorn Archive

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