Now we are getting to the fun stuff as Brett starts off the lesson by pointing out the chicken-and-egg challenge associated with making changes in our lives. To change a behavior pattern, I have to be able to exit that pattern. If, however, I had the ability to avoid enacting the pattern, I wouldn't need to change in the first place!
I love how clearly this depicts the problem at hand.
This dilemma affects me greatly as it can be nearly impossible to stand apart from frustration and emotional overheating episodes that many times lead to revenge trading and constantly fighting the trend.
So Brett now brings us to understanding something about drama. Specifically, it is helpful to start thinking about life in terms of the different roles that we enact during our life's performances. "All the world is a stage", Shakespeare observed, and we are the sum of the roles that we play on that stage.
It is interesting that roles are are characterized by automatic, scripted qualities typically learned early in life, and for years, they worked. Therefore, they are overlearned. An example for me would be that I retreat and stay silent many times in social or group settings as a function of learning to stay quiet if I wanted to stay alive as a child.
Brett brings an example of how trading problems are scripted. And he uses the frustrated trader as the example who is bound and determined to trade carefully, not rapid fire trades, and maintain rules. But then he loses money, becomes frustrated, then breaks all of the rules and undergoes serious losses. Then he doubles down on efforts to maintain rules, but eventually the next frustration event comes around and the same disasters reenact themselves over and over.
And the loop is impossible to stop. And as Brett then highlights in this chapter Trading requires a mind free to process data and select appropriate action. But we no longer have a free will if we are mechanically reliving scripts from the past.
So how do I break free of these repetitive patterns that are cyclical reenactments of roles I've learned so well during the course of life?
How do I liberate myself from the frustrated, down and out person who then resorts to pressing and fighting for success life or limb?
I need to cultivate myself by placing myself in different roles. To be the competent person who enjoys the process of skill development -- win or lose. A losing trade, or a series of losing trades is just information and not something to be afraid of. In fact, a series of losing trades can be amazing information simply because I've discovered a possibly powerful edge. It's just that I'm looking at it upside down!
Brett says to go out and throw myself into a structured social activity -- a role -- that requires me to enact these ideals.
I will have to be conscious of the roles I'm playing. And notice and reflect upon the times that I'm calm, cool and able to enjoy the process towards excellence.
Key points to close the lesson, create the roles that mirror your desired identity; live scripts of my choosing If I place myself in situations where I can routinely practice being the person I want to be, I'll rapidly make that person my own. Change begins with novel experience, but is sustained through repetition.
