This trading tip – the first in a series – is one where your knee-jerk reaction might be to skip it and move on, looking instead for a new entry technique or indicator or… you get the picture.
Don’t do it. Stick with me for a few paragraphs. You’ll be glad you did.
Why? Because, deep down inside, there’s a reason you want to be a better trader or investor. That’s why you found (stumbled upon, begrudgingly came to) the Van Tharp Institute in the first place. Right? You came to learn something deeper and longer-lasting than just chart patterns.
Van Tharp was a pioneer in helping us know a bit more about ourselves and about how we understand the world around us. The purpose being that we can cull out the less useful stuff and concentrate on the things that matter. The strange thing is that, while I was learning with Van (and so many of you), I found out so much more about markets than I could have imagined.
Gratitude is Good for the Soul – and It Works
We have talked about it before: The benefits of gratitude are well-documented. The research shows that grateful people are healthier, sleep better, are more hopeful, more empathetic, more resilient, more helpful and have greater self-esteem. We’ll revisit some of the research behind being grateful later in the month.
But for today, here’s the one very personal thing that being grateful has helped me overcome this week: Practicing gratitude diminishes negative emotions (anger, bitterness, etc.).
Van taught us that negative emotions are not just the results of less useful trading decisions, but that they could very much be the cause of those unproductive decisions. While dealing with several family and life issues in the past couple of weeks, I felt the temptation to fall into a negative emotional place. Instead, I used some of Van’s simple techniques from his earliest work in Peak Performance to find a more useful and productive mental state. I’ll share that quick process with you next week.
For now, Fed decisions are looming, inflation and military conflict are still with us, and the markets are (by some measures) at historical volatility levels. And we can make a turn with all that too.
I always enjoy hearing your thoughts and comments. Send them to me using drbarton “at” vantharp.com
Great Trading and God bless you,
D. R.