Janice Dorn, MD, PhD
Neuropsychological Trading Coach
Janice Dorn, M.D., Ph.D., has been a full-time futures trader since 1994. Doctor Janice holds an M.D. in psychiatry and is board-certified by the American Board of Psychiatry and Neurology in general psychiatry and addiction psychiatry. She holds a Ph.D. in brain anatomy. A graduate of Coach University, she is a pioneer market psychiatrist and financial neurobehaviorist. Doctor Janice has written over 500 articles on the financial markets and coached over 600 traders worldwide. She is the Global Risk Strategist for Ingenieux Wealth Management Group, Sydney, Australia.
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Desire is the starting point of all achievement, not a hope, not a wish, but a keen pulsating desire which transcends everything…Napoleon Hill
There is a new and interesting program on HBO television titled "In Treatment." It follows the stories of five patients that come to see a therapist for a variety of emotional challenges. It also delves deeply into the personal struggles that the therapist (played by the brilliant Irish actor Gabriel Byrne) faces in the course of dealing with these patients.
Watching this program and the intensity that comes from having every word or action dissected reminds me of the 20-plus years I have spent as a practicing psychiatrist and trading coach.
The underlying message to the therapist from each of these patients was quite simple: "Something is wrong with me, and I want you to tell me what it is and fix it." Additionally, they wanted it "fixed" as quickly as possible so that they could "move on" with their lives, get happy and make money. The resounding premise of each of these encounters is simple: "Something is wrong with me, and once you, Dr. Dorn, figure it out, I will be OK, and my life will be happy, joyous and free."
I had someone come to me for trading coaching about three months ago. Although he couldn't put it into words, he was absolutely convinced that something was wrong with him because he couldn't "get bigger." In other words, he wanted to increase his position size so that he could make more money, but something was holding him back. He had been to a number of coaches and rejected them after one or two sessions. He was highly critical of everyone who had tried to help him, saying rather negative things about them. The essence was that he knew more than they did, so they couldn't help him. It was a litany of blame and excuses about why no one was able to do anything for him. Thus, in addition to saying rather derogatory things about others, he denigrated himself endlessly.
That type of behavior and expression coming from anyone is a major red flag. I told him that I was more than reluctant to accept him as a coaching student. Do you understand why? No matter how good I am at what I do, or how much experience I have as a trader, a coach or a psychiatrist, it would never be enough for him. I would become yet another in a long line of people that had "failed" him. It was a setup for disaster, and I told him so.
He became aggressive and insolent when he heard this. "If you're so great, then why can't you get to the bottom of this in an hour or two? Why can't you help me get over this thing that is holding me back from making more money? I need this money now! Don't you understand that I have another child on the way and my wife doesn't work and we need to keep up with the other people who live around us that have bigger cars and send their kids to the best schools? What is wrong with you, Dr. Dorn? You are not listening to me. Someone has to fix this, and fix this quick!"
The first thing I did was to congratulate him on recognizing that there was something going on within him that was holding him back. Then—as soon as I told him my thoughts and feelings about the low probability for success with coaching—he asked me to give him therapy. Moreover, he was very specific about the kind of therapy he needed. He said that one of his relatives had a master's degree in psychology and told him that he needed to be psychoanalyzed to get to the bottom of what was wrong with him. As most of you are aware, psychoanalysis is a long and tedious process that requires multiple visits to a trained therapist over periods that may last for years. Freud called this type of analysis "interminable," in that it often did not end but went on through the lifespan of the patient.
Once we began to discuss the topic (at his request), he said that he had heard of a "quick fix" that would take the place of psychoanalysis and thought he would go that route instead. I had no objections, and in some way was pleased to hear that he would no longer pressure me and would move on to this new technique that would give him the instant gratification he desired. Why not? In our society today, most people want the quickest and easiest way to "fix" themselves because we are in a "faster and faster forward" culture. We want everything, and we want it now.
The point of this story, and one that I will expand upon throughout the year in future Trading Wisdoms is this: If you are at the point where you feel that nothing is working for you, that no matter what you do you cannot get ahead, that you are desperate to do something now, that you are wallowing in self-hatred and losing every time you place a trade, I have six simple words for you: There is nothing wrong with you.
That's right: There is nothing wrong with you. By admitting your true situation to yourself, by reaching out for help and really listening to the person who is trying to help you, you are exactly where you should be at that moment. It is only when we begin to lie to ourselves, to do everything possible to convince ourselves that something is wrong, to mistake the dopamine rushes of fear and greed for hope-amine or instant help-amine—i.e. that someone, somewhere is going to do something right here and now to "fix" you—that you are on the path to taking the next step. You are perfect in this moment, because you have identified a problem and are seeking a solution. There is nothing wrong with you if you know there is something wrong with you and you are moving in the direction of changing it—one step at a time, and not in an hour or two. Time takes time. It took a lifetime to form your personality. Fortunately, it won't take nearly that long to get right with yourself. But, I assure you, it will take more than an hour!
We do not grow absolutely, chronologically. We grow sometimes in one dimension, and not in another; unevenly. We grow partially. We are relative. We are mature in one realm, childish in another. The past, present, and future mingle and pull us backward, forward, or fix us in the present. We are made up of layers, cells, constellations...Anais Nin
Until Next Time,
Good Trading and Brain On!
Janice Dorn, M.D., Ph.D.
janice@thetradingdoctor.com
P.S.—Take a sneak peek at my new book, Personal Responsibility: The Power of You, published in January, 2008, at www.personalresponsibilitybook.com .
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