Forex Media News Station

2009/11/26

The Zen of "Don't Know"

[The following is taken from p.80-81 of Trading Chaos (2nd.) by Bill Williams (2004).]

The heart of Zen is the koan, a question with no rational answer, such as why does ice cream have no bones? Observe your mind as you focus on such a question. Does it strive for an answer or does it reject it as ridiculous? A feeling of “don’t know” is generally uncomfortable for most Westerners. But just let it be okay to “don’t know.” Look for that open spacious feeling of the don’t-know mind. The don’t-know mind has room for absolutely anything and everything.

Choose a situation in your trading whose outcome cannot be predicted. Focus your attention on the question, while trying to maintain a sense of “don’t know” in your mind. Notice the attempts to make rational predictions. Is it in a fifth wave? Is there a conjunction of Jupiter and Mars? Watch your mind as it vacillates between answer seeking and “don’t know.” Try incorporating more of “don’t know” into your daily life. Will I catch that plane? Don’t know. Will the bus be on time? Don’t know. Will the bonds go up tomorrow? Don’t know.

One last question. Will you use these techniques in your trading? Don’t know? That’s okay too.

Remember that how we respond to whatever happens is more important, in the long run, than what happens. This approach teaches us that how we respond to our thoughts is more important than the thoughts themselves. We are learning to watch the process of the mind, instead of getting caught up in the content of each thought that passes through. And we know that the process of learning to deal skillfully with whatever occurs is far more important than attempting to control the outcome or content of each particular incident in our lives.

If we practice living in the now, with awareness of and compassion for our daily fears and desires, we can deal powerfully and effectively with whatever happens in our lives. Painful thoughts, even unpleasant events, can be used to remind us of the meditative work that is our most real and important job on this Earth. In this way we can turn all that happens, painful or pleasant, into grist for our meditative mill. We will be building our bridges from the very boulders that seem to block our path.

All of this ranting and these exercises may seem a long way from “how to make profits in the markets this week,” but if I (B. W.) have learned any one thing in almost a half-century of actively and successfully trading the markets, this is the key: Your thoughts are your life!

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