V.13:3 (117-119): Overcoming Resistance by Adrienne Laris Toghraie

Overcoming Resistance by Adrienne Laris Toghraie

Sooner or later, many traders encounter problems limiting their success. Often, the solutions are available but people resist changing. Why do they do that, anyway? Toghraie explains how to overcome resistance.

Carl was consistently missing lucrative trades because he was afraid of taking losses. This fear grew out of the learning process he went through to become a trader. When Carl first started trading, he didn't realize how important money management is. The result was a 50% drawdown the first year and a fear of trusting himself even when he put money management rules into effect. He suffered additional discomfort from the transition to full-time trader. This transition meant that his family had to live on half the income that they were used to, and the family's savings account became his trading capital. As a result, Carl's home environment became tense because his new direction was threatening the family's financial security. Carl was losing rapidly. He decided to consult with me over the phone. During the consultation, I suggested to Carl various ways that other traders with the same problem had successfully overcome their fear. Each time I proposed a possible approach to his problem, however, Carl gave me what appeared to be compelling reasons why my suggestions would not work for him. Finally, I asked Carl to set aside time to work with me to help him through this critical period. When Carl said he would "think about it," I knew that I would probably never hear from him again.