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.When people do really well, they often stop doing whathow things will turn out.You just commit to your financial objectivehelped them to do well, and start being too creative and too flexibleand relate to the events that occur in the context you have created.Ifthey let go of their discipline.you feel out of control, you keep going.One hundred percent is notabout what you feel or even the results.It's about 100 percent engage- A young trader I'll call Scan, for example, takes a contrarian posi-ment or absorption.It is about total involvement of our heart and soul.tion whenever he is successful.The success goes to his head and makesTotal, 100 percent concentration is also about taking responsibility.him more confident than is useful.He starts thinking he is invincible.When the momentum seems to be flagging and you are starting to lose He becomes explosive, which generates a thought process that allowsinterest, look carefully at how much you are really engaged.One hun- him to make judgments that are contrary to his game plan."When I amemotional, I'm likely to get hurt.My gut is telling me I am too ex-dred percent produces exhilaration.Less than that produces a concerntended."for winning or losing, which then becomes a symbolic victory, and aScan, who was an all-American soccer player, is beginning to recog-hollow one, rather than a real encounter with success.Consider to what extent you are not fully engaged in your trading.nize those moments when he is out of his zone.In one case, he says, hemade a pact with himself at die beginning of the month that he wouldAre you playing it safely or self-destructively? If you are successful, younot lose $10,000.Then one day he found himself losing and his com-may be covering up the fact that you have not given your all to the ac-tion.Success creates the appearance of commitment and the appearance mitment got sidetracked.All of a sudden he was down $10,000 andof competency.Do you avoid losing because it doesn't look good and then $5000 more.He then told himself, "I better make back somemoney.Let's try to pair things up and make some money to get backmarks you as vulnerable?When you are really winning, you are fully engaged and can go with my losses." So he put up another trade "and I'm down another fourthe flow, accepting success and failure as two sides of the same coin.In grand.Now I have to make back nineteen grand." He tells himself,effect, while concentration leads to results, inertia and past patterns "Let's wait.Let's be patient." But it doesn't work."All of a sudden Ikeep rearing their ugly heads, so that it is necessary to keep recommit- am down another four thousand dollars.I've got to make twenty-threethousand dollars.Then I say, 'It's not worth it today.Stop.' Then I re-ting to your goal.ally screw up.I let my downside escalate.Sometimes I'm confident thatI can make it back.Other times I know it will be disastrous, and I'd bet-Concentration and Momentum ter do something else."Scan should recognize that he doesn't have a high-confidence tradeSometimes concentration creates a terrifying momentum.You feel a and does not just want to roll the dice.Sometimes the market isn't givingsense of being out of control, of being unpredictable, of being im- it to him, or he isn't digging deep enough to find the high-probability Concentration The Key to and 79TRAD I NG TO WI N78ing rut.Develop your concentration, and you'll soon acknowledge thattrade.Instead of trying to prove how big he can get, he should ease upyour own actions and your decision to persist despite adversity are theon the trading unless there is a really high-percentage choice where hecritical variables in your business.When things are not going well, it iscan reduce the risk of losing more money.the result of insufficient concentration.As you concentrate, you'll chan-The successful trader is able to get past the euphoria or despair ofnel your potential and take responsibility for what happens in your trad-the last trade and concentrate on the present
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