The author is Dr. Doug Hirschhorn, a regular contributor on CNBC, is recognized internationally as one of the most influential and sought after Peak Performance Coaches in the market today. Dr. Doug Hirschhorn’s clients include Deutsche Bank, BNP Paribas, DWS Scudder as well as several other major world banks and hedge funds
- Dr. Doug Hirschhorn discusses the effects of trading for revenge and ways to prevent it from becoming a career ending problem:
Have you ever been wronged by the market? You know what I mean. You have edge in a trade. You execute your plan and out of nowhere, like legendary hockey defensive wizard Bobby Orr racing across the ice, the market gives you a full-body check into the boards? You lose the puck. Your teeth go numb, your body is rattled and your head spins. Lying flat on your back, staring at the lights, you can hear the coach, fans and some distinct voice inside of your head yelling, “Get up you wimp, fight!”
So, a bit shaken but motivated and emotionally charged, you do your best to get your bearings straight and get back on your skates. As you quickly process what just happened and take inventory of the damage you experienced, you are left with a very important choice – a choice that may very well dictate your future success. Do you focus on seeking revenge against the market or do you store the lesson in your memory, learn from it and choose to focus on your game, your plan and your next trade?
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