Before long a monkey comes by, sees the banana, reaches his hand into the coconut, and grabs it. The hole is small enough so the monkey can put his open hand in but cannot pull his closed fist out. The monkey discovers that he can't get his hand out of the coconut while holding onto the banana. All the monkey needs to do to be free is to let go of the banana, yet most monkey's don't let go.
There is loud chattering and squealing as the person who set the trap walks up to the monkey and places a sack over him. In the darkness the monkey releases the banana and is captured. The monkey could, of course, let go of the banana and run before getting caught. Some do. But most of the monkeys hang on to the banana until the sack goes over their head.
I think as traders we are sometimes like that monkey. We grab onto a losing trade or a trading mistake and then we don't let it go. The problem is when we hold onto any experience, we impede our ability to simply be in present (i.e., in now) to take advantage of the next opportunity the market offers. The solution is actually simple but quite difficult to do...Let go of the Banana!
I am curious to hear other take aways from above story for traders. Look forward to read your thoughts.
I am curious to hear other take aways from above story for traders. Look forward to read your thoughts.
"When one door closes another door opens; but we so often look so long and so regretfully upon the closed door, that we do not see the ones which open for us.” – Alexander Graham Bell
0 comments:
Post a Comment