Decision Making in business and life
In business and in life, we make numerous decisions: they are either conscious or unconscious. Difficulties arise when unconscious decision making is used for important decisions that have long-term consequences. For example, in investment and share trading, what is likely to happen if you select a stock to trade or select an investment strategy unconsciously? The impact of making unconscious decisions can be far reaching for your financial reality.
As a CFO of our business and as a share trader, very often I need to make snap decisions. Should I buy, sell or hold that stock? I won't always have time to consult my stock analysts or read lengthy research reports to make a decision. To become a conscious decision maker I realized that I must ask questions. Everything must be a question for me. I have been trading stock for many years and I often ask the question "Is this a good time to buy or is it a good time to sell?" I became aware that I cannot do deduction, assumption, conjecture, conclusion or judgment about anything. The moment I come to deduction, assumption, conjecture, conclusion or judgment I have limited my ability to make a conscious choice.
In April, I was being the question about the price of Gold and I became aware that gold would drop below $1,200 an ounce before bouncing higher. This is exactly what has occurred with gold futures dropping to $1,179 prior to bouncing into the $1,250 range seven days later.
To make a conscious decision in the current environment, we must have a clear perspective about where the external landscape might be going. We have to perceive the nature of change and then either take advantage of this dynamic or adapt to it.
At a time when the general sentiment towards gold as an investment is very low, by being the question I am able to look to the long-term, instead of operating based on what has worked in the past or based on other people's opinions.
Opening my mind and awareness to constantly be in the state of questioning, I perceive declines as an opportunity to purchase.
Since anything can happen in the commodities market, I have found that using awareness and choice to make decisions can help me make better, bolder and more audacious decisions. Higher levels of conscious choice and intensity of awareness are the keys to creating a balanced integration of my trading strategy, and operational realities.