ознакомить вас с трейдинговым упражнением, которое будет содействовать интеграции вышеозначенных истин в функциональный уровень сознания. In this case, we will analyze the three stages of the development of a trader.

The first stage is mechanical. At this stage, you must:

1) achieve a state of self-confidence, which is necessary to work in an unlimited environment;

2) master the perfect ability to implement a trading system;

3) train the mind to think in terms of probabilities (five fundamental truths);

4) create a strong unshakable belief in the ability to be a stable trader.

Having finished with the first stage, you can move on to the subjective stage of trading. At this stage, you are using everything you have learned about the nature of market movements to do what you want. For данной стадии характерна значительная степень свободы, поэтому следует овладеть способностью самонаблюдения, направленного на подверженность трейдинговым ошибкам на почве тех или иных неразрешенных проблем с самооценкой, о которых рассказывалось в предыдущей главе.

The third stage is called the intuitive stage. Intuitive trading is considered the most advanced stage in the evolution of a trader. Those who have mastered the skill of intuitive trading can be compared to the holders of a black belt in martial arts. The difference is that it is impossible to try to act intuitively, because intuition is spontaneous and spontaneous. It is not taken from what we know on a rational level. The nature of our mind is such that it is extremely skeptical of information coming from a source it does not understand. Anticipating something that is about to happen is a form of knowledge that is fundamentally different from anything we know on a rational level. I have worked with many traders who often felt things were coming, but their minds always fought with their intuition, forcing them to act rationally.

If they trusted intuitive insights, success would be amazing. But instead, they constantly had to settle for modest results, especially when compared to the amount of lost profits. The only way to master the art of intuitive trading is to achieve the mental state that is most conducive to perceiving and working with intuitive impulses.

The mechanical stage of trading
The mechanical stage of trading требуется для овладения основными психологическими навыками (ответственность, уверенность и мышление категориями вероятностей), без которых на стабильность результатов рассчитывать not worth it. I define a stable result as a steady growth in the balance of a trading account, which is interrupted only by small and short-term corrections, which are a natural consequence of unworked competitive advantages.

In addition to finding a model that provides an advantage in the implementation of the transaction, achieving a sustainable growth in the balance of trade is the goal of actions aimed at eliminating any kind of vulnerability leading to trading errors, the detailed description of the mechanism of which is devoted to most of this book; these errors come from feelings of fear, euphoria, and self-esteem-related issues. For устранения ошибок и повышения самооценки надо овладеть определенными техническими приемами сугубо психологического характера.

We classify these techniques necessary for overcoming mistakes in the field of psychology, because they are all, in fact, beliefs. As you know, the beliefs on the basis of which we work determine our state of mind and shape our experiences in such a way that our faith in the truth of what we believe is constantly strengthened. The degree of truth of a belief (relative to environmental conditions) can be determined by how well it serves us, that is, by how successfully it helps to achieve our goals. Если вашей главной целью является стабильность результата, тогда, сформировав убеждение (сознательный, наделенный энергией образ, который сопротивляется изменениям и требует самовыражения) типа « I являюсь стабильно успешным трейдером», вы создадите важный источник энергии, управляющий восприятиями, интерпретациями, ожиданиями и действиями, moreover, the order of management corresponds to the conviction, therefore, to the goal.

Создание доминирующего убеждения «I являюсь стабильно успешным трейдером» требует верности нескольким принципам стабильного успеха. Some of them are bound to come into direct conflict with other beliefs you already have about trading. This is a classic example of a direct conflict between beliefs and desires.

The underlying forces at work are no different from what happened to a boy who wanted to be like other children who were not afraid to play with dogs. He wants to express himself in a way that at first seems completely impossible. For того чтобы добиться исполнения желания, надо приступить к процессу активной трансформации. The technique used by the boy is quite simple: he tries his best to stay focused on the goal, gradually deactivating conflicting beliefs, and reinforcing the one that suits his desire.

If you really want to be successful, at some point you will have to start the process of becoming a stable trader. The most important ingredients of personal transformation are willingness to change, clarity of intention, and strength of desire. For того чтобы процесс заработал и принес желаемый результат, следует сделать выбор в пользу стабильности, то есть стабильность должна превратиться в главную цель и обоснование трейдинга. The presence of all these elements in sufficient volume over time will allow, despite all the internal obstacles (which you will probably have to deal with), to achieve what you want.

self-observation
The first step to achieving stability is to observe your thoughts, words, and actions. INедь все, что мы думаем, говорим или делаем как трейдеры, в определенном смысле соотносится со сферой сознания и, следовательно, способствует укреплению тех или иных наших убеждений. Since the process of finding stability is essentially psychological, it is not surprising that you should begin to observe various psychological manifestations.

IN конечном итоге вы должны овладеть умением объективного наблюдения за вашим мышлением, словами и поступками. The first line of defense against trading mistakes is to catch yourself thinking about them. The task of the last line of defense will be to catch yourself by the hand at the moment they are committed. If you fail to achieve the ability to objectively observe these processes, you run the risk that understanding will always come after the experience, after you find yourself in a state of deep frustration.

Objective self-observation implies a refusal to make any value judgments. This is not easy given the harsh and intolerant treatment many people experience throughout their lives. As a consequence, a person quickly learns to associate any mistake with emotional pain. Since no one likes emotional suffering, we we usually try to avoid, or at least delay as long as possible the moment of admitting that what we have learned is wrong. Refusal to deal with mistakes in everyday life does not always lead to such devastating consequences that similar attempts are fraught with for traders.

For example, during seminars with traders working on the stock exchanges, I ask them to imagine crossing the bridge over the Grand Canyon to better understand the riskiness of the situation. The width of the bridge is inversely proportional to the number of contracts they trade. Let's say for a trader who trades one lot, the width of the bridge reaches 20 feet, which is quite enough. The 20-foot distance between the edges of the bridge allows for a greater degree of error tolerance without the need to exercise miracles of caution and carefully consider each step. However, if you do stumble and fall off the bridge, you will have to fly to the bottom for a whole mile.

I’m not sure exactly how many people will decide to cross the abyss on a bridge without handrails, but I dare to assume that not very many will be able to do this. Similarly, few people are able to take the risks associated with trading on the floor of the futures exchange. Even those who trade a single contract are open to the risk of serious financial losses. IN то же время торгующий одним контрактом трейдер может позволить себе определенную свободу действий, допускающую возможность ошибок в расчетах и размашистых движений цены, застающих его не на той стороне баррикады.

One of the largest stock traders I have worked with trades on his own account and has an average of 500 contracts in US Treasury bonds futures. Often it enters the market with a thousand lots. When opening a thousand lots on bonds, the cost of the minimum (tick) price change is $31,500. I must say that the volatility for this contract can be very high and the price can go through several ticks in a matter of seconds.

As the volume of the traded position increases, the width of our bridge over the Grand Canyon decreases. IN случае с крупным трейдером по бондам мост вообще можно сравнить с протянутым над ущельем канатом. Therefore, the degree of concentration of the trader must be extremely high, with each step he has to make every effort to maintain balance. The slightest mistake or a gust of wind can topple him into the abyss. The next stop is a mile down.

When such a trader is trading on the stock exchange, any thought that distracts him is tantamount to a wrong step or the slightest breath of wind. Just any thought or something else is enough, which will lead to a loss of concentration for a couple of seconds. IN такой момент он может упустить благоприятную возможность для ликвидации позиции. The next price level with decent exit volume could be a few ticks away from the current price, causing the trader to either take a big loss or return the lion's share of the profit from the position to the market.

If the stability of the results is achieved as a result of work to eliminate errors, then it cannot be argued that the inability to recognize the error leads to a