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Just read a story about a POW, Navy Commander Hugh Stafford, from the Vietnam conflict in 1967. Here is a couple of lines that he wrote on the inside of a cigarette carton while a prisoner that caught me off guard today and I will relate it to trading in a moment:
“Don’t dread suffering. It only makes it worse. Anticipate it. Predict it. Even exaggerate it in your anticipation of it…Laugh at it. The meaning for a particular moment may simply be to endure that moment in a manner in which you can be proud of.”
Losing money is not really suffering. It is painful but like I have said before, money is simply a product of effort. Put more effort in to trading or anything else you do, and you will make more money.
So I want to draw this back to trading in an ever so slight manner:
SYSTEMS CAUSE SUFFERING
As a trader, or in any place I walk in life, I want to take on the attitude of that very courageous man. Laugh at the suffering, because when we stop vilifying and running from it, it loses it’s power.
The Chart below shows some suffering. Four crosses on a simple moving average system that would have brought 4 less than ten pip losses and one final cross that brings a potential 160.
So here is my question, one that I think has been answered by Commander Stafford:
How do I endure suffering through as many losses as it takes to get to the prize?
Laugh at, call it what it is, take it’s power, and trade every set up you can, and then endure all of it in a manner that you will be proud of in the end.