Facing Your Greatest Opponent
Facing Your Greatest Opponent
By Dave McLachlan
There are not too many occupations that involve deep self reflection. Sure, you could travel to the top of a mountain and sit in solitude, or you could visit a monastery or temple and ponder the deep questions of life.Â
Or if none of that takes your fancy, you could become an investor. “Investor?” I hear you ask. That’s right. But before you say “Mountain tops and investing – it looks like Dave has finally lost it!” – let me explain:
You see, when you are trading or investing you are facing your greatest opponent of all – yourself. You cannot take your problems to the marketplace. The market does not care – in fact it will actually take advantage of your fears, of your hopes, of your lack of focus at any point or any weaknesses you might have - and it will make you pay in cold hard cash.
And there is something about the constant threat of losing your hard-earned dollars that speeds the process of growth and learning.
What Can I Do When Faced With Myself?
There is only one solution when facing your greatest opponent – you must become bigger than yourself. By this I mean you must get to the stage where you are no longer distracted by the minor nuances of life – in fact you must get to the stage where you actually enjoy them. Become the bigger person.  Things like a disagreement with your partner, maybe the kids making a lot of noise or vying for your attention, perhaps a boss who annoys you at work or maybe the stress of your mortgage. We don’t like to admit it, but as human beings these things can and do spill over into other area of our lives. They might make us a little more touchy, or in the case of the markets a little more susceptible to deviating from our trading plan.
And that is why playing the market game (I prefer to see it as a game) can have the greatest benefits not only on your bank balance, but on your life as well. For to be successful you must grow to the point where these things in daily life do not affect you. Where your mind is a calm pond, and any disturbance just skims off the surface like a stone across the water.
Master trader Catherine Davey said “It is funny how many old school traders I know that now start their day with yoga on the beach, or who meditate regularly and exercise.” They do this for a reason – they have grown beyond themselves to be in a place of calm, and from that place comes riches. I myself meditate regularly (a zen master would call this your “practice”), as well as practicing in the markets regularly (traders will call this back-testing). It helps keep me focused, calm, strong and yet flexible – flexible enough to change my mind or admit when I am wrong, and strong enough to trade large when the market calls for it.Â
Many other professions can make you rich, whilst not making you happy.  I believe that trading (real trading, not the trading and investing you hear about in flashy advertisements or $20,000 courses) – makes you a better person first, and only then will make you rich.
Happiness, then riches -Â it doesn’t get much better than that.
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September 12, 2009
Tags: Market Basics Posted in: Articles On Building Wealth
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