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Wednesday, June 6, 2018

More on Missing Out

Feb 20, 2018

Thanks for your reply Ed,

I'm glad to hear that you may have enough interest to run a workshop in Texas. I would like to participate so count me in.

I would like to make friends with the feeling of missing out, but at the moment I do not like it. I find that the strong feelings I have about it are not live when I go to a Tribe meeting. So far I have used the feeling of missing out to prompt me to look more closely at the decisions I make that may lead me to missing out. These are:

Taking large losses ---> loss of confidence for the next trade ---> miss out by being too afraid to pull the trigger.

Not getting closure on mistakes quickly, spending time dwelling on past mistakes / missing out ---> missing the next trade

General lack of preparation

Lack of open mindedness / communication with others.

Not trusting myself to pull the trigger when something unexpected happens.

My style of trading is primarily news driven (surprise news). I work in a team based environment where we collaborate on research and share ideas about what the market may do in certain surprise news scenarios.


Thank you for sharing your process.

In TTP, we hold that all feelings have positive intentions.

You realize these intentions by viewing your feelings as allies and by experiencing them fully and then acting pro-actively to change your situation.

If you view your feelings negatively, you may act medicinally so as to knock them out, say, through drugs, alcohol, drama, distraction, meditation, therapy, will power, etc.

In the process, you may miss the opportunity to extract pro-active guidance from your feelings.

If you suppress thirst, you dehydrate; if you suppress hunger you starve; if you suppress the feeling of missing out, you wind up accumulating pressures that get you to miss out on some really big ones.

Fundamental analysis fits nicely with suppression of the feeling of missing out, since fundamentalists can miss a subtle trend and miss out on a major mover.

Trend followers do not miss big trends. Trend following takes the drama out of catching trends - in exchange for having to tolerate whipsaws.

When you start listening to your feelings about missing out you might find you no longer have to set up missing-out drama for yourself - and you might also re-discover trend trading.

You might consider taking your feelings about <missing out> to a Tribe with experience in working the Rocks Process.

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