I recently downloaded the first chapter of an ebook by Darel Rutherford called “If you care….You’re Screwed!” Certainly a catchy title and it piqued my interest. I had a good idea of where this was headed but reserved my judgements for later.
As I read the chapter, the sentiments echoed the words that I have said many times to traders in our trading room…..you must trade with total detachment. Why? Because, just like the title of the ebook, “If you care…..You’re screwed”.
You must understand when you care, then you have a vested interest in the outcome of your trades, your results. Your focus is taken from making good trading decisions, taking the best trades, and following your rules, to “is this going to be a winner”. That is total retail trader mindset. Your trading decisions will be based on emotion instead of sound logic. In old market cliché terms “You will be trading your wallet”.
The most important facet I teach in trading is you have to be willing to miss a trade! When you are willing to miss a trade, then you are detached, when you are detached, you are relaxed, and when you are relaxed you are able to see the market with greater clarity.
You are able to see the market for what it is, and not what you want it to be. Relaxation in trading is the key to success. If you are uptight, sitting on the edge of your chair with nose prints on your screen…..you are doomed.
Seeing a valid trade is not a matter of life and death. It’s not a matter of depth perception. If you can’t see the trade from two feet away, you won’t see it from 6 inches away. The more you want a trade, the more illusive they will become. When you finally let go of wanting a trade and are willing to “miss a move”, the trades will line up like buses.
When you let go of wanting a trade, when you “don’t care”, you are able to see the market with incredible clarity because it does not matter if it goes higher or lower, you become a casual observer. You are in the present moment watching he market unfold, sending you clear messages of it’s intent. Then, when the moment is right, when your conditions to take a trade are met…..you know you have put the odds dramatically in your favor.
Practicing trading with detachment is one of the fastest ways to reach your trading goals.
In the immortal words of Ed Seykota from the book “Market Wizards”…..
“Everyone gets what they want out of the market!”
