Here is probably the fastest and cheapest way to learn how to meditate and to understand its benefits: http://www.amazon.com/Relaxation-Re...=pd_bbs_1/102-9269443-7962503?ie=UTF8&s=books Refreshingly, there is no hype, mysticism or gobbledegook to be found in this useful little book.
Thunderdog, Benson's extraction is good for the relaxation/biochem aspect of meditation. What it lacks is the awareness aspect of meditation. Straight (Zen or basic Theravada) Buddhism and its Vipassana meditation lacks mysticism (Buddha said don't ask me about that stuff, its a distraction, lets get on with learning to be clear and happy) and hype but adds an extra element - building awareness of ones feelings and ones thoughts as they occur so that you can overcome your conditioning (read, get thru all the shit that people and you lay on yourself as you grow up so you see and react clearly to the real word; also the shit you build when you have problems while learning to trade). Seeing clearly, staying in the present moment, not getting hijacked by thoughts and emotions are key for traders. So I'd recommend Vipassana as offering more for traders than the relaxation response.
I would recommend to traders just trying to build on their edge to go with zen/vipassana. This could in fact be a lengthy topic but I'll give my reasons simply. If one really wants to develop spiritually through meditation it becomes very vast very quickly. One might encounter all kinds of inner issues dealing with religion and personal beliefs and what not. Taking my suggested approach is good because there are many zen/vipassana meditation groups that meet and don't ask too many questions. It won't feel like some kind of spooky cult and some of the people will probably be normal. If you don't know what you are doing you could get into trouble shopping for a meditation group. As for learning through books alone, I don't advise it. I think they can supplement ones practice but otherwise it's like trying to learn Karate from a book.
...otherwise said trader is likely to experience a Milarepa style destruction of ego with the "mysticism" variety of meditation. Why take such a risk in your trading by adopting the mystical path, right?
I know a trader that has that ability but I'm pretty sure he never meditates. He would have outbursts of rage that would just end just as quickly as they began. I guess some people are lucky enough to have a natural ability for that kind of emotional control while others must learn.
I've been thinking of trying acupuncture but if you don't have a specific problem what do you ask them to do for you?
We have no free will in the sense that most people are just bundles of conditioned reflexes. Most folks do not act as if it were their choice to do so but rather they react to everything in a conditioned manner. I believe only thru meditation do you develop true free will because then you decondition yourself and you become more aware of what your doing: your breathing, your thinking, your movements. In meditation awareness replaces ignorance, so then you are free. Now relating this to trading - most of our actions are contioned by fear.
Mark Douglas identified 4 basic fears in trading. I'm not sure of his exact labels or descriptions but here is my description: 1. Fear of being wrong. Not pulling the trigger when seeing an opportunity. 2. Fear of loss. Not willing to accept a loss on a position. 3. Fear of leaving profits on the table. And thereby overstaying welcome in a position despite a reversal of trend. 4. Fear of missing out on the action. Putting on a position despite lack of clear opportunity. For most discretionary traders that haven't acheived consistancy, these fears are always there conditioning their responses to market action. I think most traders fail because they never develop a comfort level in thier trading - these fears are always there. Remember faith is the opposite of fear. Once a trader develops enuf faith (or confidence) in his trading then the consistancy comes naturally.