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We cannot deny our fear of losing money, nor can we deny our desire to make as much as possible. If we don't accept both of these motivations as operating within us, we will be out of touch with ourselves when we take actions based upon one force or the other. We will not hear the inner voices of fear or greed that push us to take action. It is for this reason that it is necessary to be comfortable with each of these inner voices. |
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But being comfortable with these parts of ourselves is only the first step. We must also have them on speaking terms, working cooperatively rather than against each other. |
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Perhaps you've noticed what I have done in redefining the conventional view of greed. I have taken the concept and put it into its larger context of desire, with which all traders and investors can identify. In framing greed in a larger context, I am trying to make it easier for you as an investor to identify with how it comes up for you. |
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If you don't want to admit that you are greedy, because this is such an undesirable trait, at least you can admit that you have desires. I am offering you a more acceptable context that allows you to own up to your desire to make as much money as possible. A little greed pushes us to hold out for greater profits and to take some reasonable risks that we might not otherwise take. So, the more comfortable we are with this part of ourselves, the more sense some of our investing behavior will make. |
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On Speaking Terms: Giving Voice to the Inner Dialogue |
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We said that if we are going to balance greed and fear, we need to be on speaking terms with these parts of ourselves. One way to do this is to hear the inner voice of each distinctly. Here is an example of how these two voices may come up in the course of watching the market. |
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As you read the following example, notice that: |
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1. Both parts have a distinctive identity. |
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2. Both parts have a part or role they are playing and each wants its voice to be heard and taken seriously. |
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3. When the part feels heard and its role appreciated, the threat to its survival is lessened. |
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4. Dialogue is the key to this appreciation. |
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5. When no longer feeling their existence is threatened, both parts may begin to find common ground by compromising |
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