New Orleons Flexibility Drill

Continued from yesterday.

This is the second in a series of articles that began March 19, 2007 with the article entitled “Alien Abduction”.

Let’s say you want to be able to consistently exit your trades without hesitation the instant your stop loss price is hit and that you want to do this manually (as distinct from programming your computer to do it for you).

The starting point is to install an anchor associated with the feeling of an urgent need to exit your trade at your stop loss event.

An anchor is something that reminds you to do something without having to consciously think about doing it. For example, the famous Russian scientist Ivan Pavlov noticed that whenever he put food in front of dogs, the dogs would salivate. Then he noticed that if he rang a bell while putting food in front of dogs that he could later just ring a bell and get the dogs to salivate without putting any food in front of them. The bell served as an anchor for the dogs to salivate.

Applying this to our example of stop loss execution, you could associate the sight of the stop loss event with a feeling of an urgent need to exit your trade.

continued tomorrow ...

Copyright 2007 Raymond T. Lee. All rights reserved.
Leisurely e-Mini Futures Trading
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