Process Vs. Outcomes, Part II

One of the primary ideas in the first blog about Process vs. Outcomes is how difficult it is to focus more on process and let go of outcomes. In trading, we learn that focusing on our process or following a proven strategy is critical, but after some experience with trading, most people become more attached to the outcomes, much more than focusing on the process. This is very understandable for a number of reasons.

We want to make money, and a positive outcome (making money) suggests that we are on the right path. And although we know losses are unavoidable, nevertheless, we fixate on the outcomes, be it positive or negative.