Trader Tip: Kayne West, Prisons of the Mind Unless you have been hiding under a rock, most have heard of the international pop culture icons of Kanye West and Kim Kardashian. A married Hollwood celebrity couple adored by many and followed where ever they go – like it or not. Recently in social media, Kanye West has reportedly “broke the internet” with revelations unexpected. Before you think this has nothing to do with trading, I would like to hold out this recent episode as a “learning experience” we traders can benefit from as an example of how we might be able to improve our trader psychology.
Most consider the politics of Hollywood to be left-leaning and typically vote for (American) Democratic candidates. Kanye and Kim, being people of color tend to be even more left-leaning than the average. In fact most polls of people of color, show that in many elections 90%-ish vote Democrat. A very monolithic voting block, but not 100%. People of color do have a few folks that break this mold – one being Candice Owens, a recent upcoming conservative pundit sensation and a Trump supporter. It was when Kanye West tweeted, “I love the way Candace Owens thinks”, the heads of Hollywood exploded. WHAT? People of Color are not supposed to like conservatives, much less Trump.
Furthermore, Kanye West started sharing videos made by Scott Adams, the creator of Dilbert cartoons, on how Kanye West was “genius” with his comments and put together a model on why – click here for the video. Some suggest that Kanye has lost his mind, though Kim fully supports Kayne’s new found love for Trump. Kanye West is in a sense stating that “I don’t have to vote as I am supposed to, rather vote how I want independently.” Or as Scott Adams suggests, breaking from the “Prisons of the Mind.” Now I don’t want to get into the politics of this episode, rather use this “Prisons of the Mind” psychological model within the context of our trading approaches.
I won’t go into every detail, but the Scott Adams “Prisons of the Mind” psychological model (click to enlarge thumbnail), describes that history does not have to repeat itself, if the “problems” of the past become “solutions.” Scott Adams used the racial problems in early American history that removed the scourge of slavery that was later prescribed in law via the civil rights initiatives in the 1960s. However, racial problems continue and the last triumph of any progression of change can be the hardest (i.e. the last mile of fog). Often the problem is not the solution, rather people themselves accepting change to break from historical “mental prisons” of the past, to reach a more “golden age.” The key being making and accepting the change within ourselves, though for sure the basic ideas must be first put in place.
Now how can we apply this Scott Adams “Prisons of the Mind” psychological model (click to enlarge thumbnail), to our trading psychology (not drawing any hard correlations to trading and racial issues of course)? We know market history repeats, and we believe our Trade Plan solutions will capture these patterns for our trading success. Ahhh, if only it would be as easy as this. After studying and preparing a good Trade Plan strategy, even with good Trading Techniques, we find we still fail at trading. Why? In the “fog of the last mile” to solve the “trading” problem, we get lost. Perhaps we have put on paper the correct Trade Plan, but have we really change this thinking in our mind and accepted the ideas? The problem we solved with our Trade Plans will no longer help, rather breaking out of our Mental Prisons of past old ideas, that will not let us accept the change in our actual trading. This is the challenge, we rest in the “Prisons of the Mind”.
So as traders, we need to break the “Prisons of the Mind” on whatever level need be, to become that winning trader. Click here, or watch below a video presentation of this Trader Tip.
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