We’re pushing limits here.
Making the improbable possible – doesn’t that give you a kick?
Am I even qualified to talk about detachment in the markets?
Well, I can at least tell you how I’m approaching the subject.
Hmmmm – where to begin, let’s see…
Let’s start at the nascent stage where a pang of attachment causes you to worry.
You sit up.
What’ll happen to my stock?
What if there’s a huge crash overnight?
What if I get wiped out?
What will my wife think of me?
Will I become the laughing stock of the Universe?
Burn your heart out worrying.
One needs to feel the pain of the disease to want to weed it out comprehensively.
Worrying and burning your heart out is not the only thing you are doing, though.
You are simultaneously making a list of all the questions that are cropping up courtesy your burning heart.
Yes, yes, make the list. Cast aside the silliness of the questions. No matter how silly a question is, include it in the list if it has cropped up even once. Get on with it.
There then comes a time where you can confidently say, that yes, my list of questions is pretty much complete. No new question seems to be asking itself.
Now go about creating the circumstances for each question to not crop up.
Meaning that you have undergone actions that are now enabling you to answer each question with “this will not happen because I have created such infrastructures that exactly this will not happen”.
How are you addressing those question for which you can’t create such infrastructures, like an imminent market-crash, or what your spouse might think of you?
To address these particular questions, you create circumstances that cause you to be least affected in the event of the appearance of such questions.
For example, to be mostly insulated from the effects of crashes, buy with margin of safety. Or, set stops. Or, don’t buy. Short. Hedge. Do what suits you, but do it.
Regarding spouse, he or she will think what she thinks. You can’t change that. You just need to have a clear conscience. Commit those actions that give you the clear conscience. Hahahahahaha! 🙂
There then comes a time, where all queries have been comprehensively addressed. They stop cropping up.
Next, you need to stop committing those actions that can act as catalysts for a query to pop up.
Only look at the market when you have to. Don’t, otherwise. Try only looking at the underlying. Broader markets – well, poisonous, keep these at a minimum. Try and bring down your market action to once a day. Limit the action to the minimal time possible.
Weed out any kind of market conversation with other individuals. There’s no need. There’s you, there’s the market, there’s your system. That’s all you need.
Keep brokers and middle-men at a manageable level. Preferably at zero, and maximally at lower single digits. Only do business with them, no loose-talk, no exchange of tips. Tips are another big poison.
Find your own investments or trades. Resources are phenomenal today. You have everything at your beck and call with a computer and an internet connection.
Shut off business TV. More than a glance at the business page of the newspaper is unnecessary. Business magazines? Forget it. Every piece of info is accessible pinpointedly on the net. You wish to enter into an investment at the nascent stage, right? By the time the story gets published, smart money is already in, and there’s already been a run-up. Your margin of safety is gone.
Finally, take a look at yourself now.
Your results are improving drastically…
…and you’ve detached in the markets…!