A major key to success as a Trader and Investor lies in your mind. Actually, it lies in your ability to use your mind optimally and creatively.
Please remember - there is NOTHING WRONG WITH YOU. You don't need to change YOU. What you most likely need to change is the "software" that you are running in your mind. When we are born we do not get a user's manual on how best to use our mental abilities. So we learn by soaking up what we see and hear around us as we grow up. And often times what we learn is not conducive to being a successful trader and investor.
One of the key mental approaches is to "Welcome Every Experience." Welcome every experience that comes to you. It may be an expectation, or it may be a surprise. It may be 'good', or it may be 'bad' based on your first assessment of it. It may involve someone getting hurt, someone getting promoted, a tragedy, a triumph, a windfall, a bankruptcy, an 'aha' moment....anything. The most useful way to approach experiences we receive (which are mostly experiences we can't control as they are outside of us) is to welcome them and learn from them. Realize that they are exactly what we need in that moment, at that point in our lives. And since we don't have a time machine, once something has happened, there's no changing it.
So, what am I talking about? I'm talking about trading losses. I'm talking about trading wins. I'm talking about violations of your plan. I'm talking about following your plan. Trying to take "revenge" on the market. I'm pretty much talking about all of the various experiences you can have from moment to moment during the trading day. The point is that whatever you do or experience in a given day on a given trade is exactly what you need. Welcome it.
Thank it for coming because it is feedback - pointing out things that you need to change. It is often indicating that the changes you are making are getting you closer to or farther from your goals.
Either way, it's pointing in the RIGHT direction....no matter how GOOD or BAD it seems at the moment. Take this approach, and you will be unstoppable. Experiences that would otherwise reduce the mentally undisciplined trader to tears or an emotional basket-case, you will use to your advantage. You will use it as a stepping stone towards your goals.
Pause and think for a second with me. Can you see the person who, no matter what happens, WELCOMES the experience, finds a lesson in it and uses it as a stepping stone rather than a roadblock? I think you will agree - that person will be UNSTOPPABLE if they consistently think this way.
Realize that no matter how hard things get or how bad things seem, you can CHOOSE take the approach of "I welcome this experience and it's pointing me in the right direction to my goals". If you do this and continue to do this and don't give up, then you will move more effectively and efficiently to your trading and investing goals.
Please remember - there is NOTHING WRONG WITH YOU. You don't need to change YOU. What you most likely need to change is the "software" that you are running in your mind. When we are born we do not get a user's manual on how best to use our mental abilities. So we learn by soaking up what we see and hear around us as we grow up. And often times what we learn is not conducive to being a successful trader and investor.
One of the key mental approaches is to "Welcome Every Experience." Welcome every experience that comes to you. It may be an expectation, or it may be a surprise. It may be 'good', or it may be 'bad' based on your first assessment of it. It may involve someone getting hurt, someone getting promoted, a tragedy, a triumph, a windfall, a bankruptcy, an 'aha' moment....anything. The most useful way to approach experiences we receive (which are mostly experiences we can't control as they are outside of us) is to welcome them and learn from them. Realize that they are exactly what we need in that moment, at that point in our lives. And since we don't have a time machine, once something has happened, there's no changing it.
So, what am I talking about? I'm talking about trading losses. I'm talking about trading wins. I'm talking about violations of your plan. I'm talking about following your plan. Trying to take "revenge" on the market. I'm pretty much talking about all of the various experiences you can have from moment to moment during the trading day. The point is that whatever you do or experience in a given day on a given trade is exactly what you need. Welcome it.
Thank it for coming because it is feedback - pointing out things that you need to change. It is often indicating that the changes you are making are getting you closer to or farther from your goals.
Either way, it's pointing in the RIGHT direction....no matter how GOOD or BAD it seems at the moment. Take this approach, and you will be unstoppable. Experiences that would otherwise reduce the mentally undisciplined trader to tears or an emotional basket-case, you will use to your advantage. You will use it as a stepping stone towards your goals.
Pause and think for a second with me. Can you see the person who, no matter what happens, WELCOMES the experience, finds a lesson in it and uses it as a stepping stone rather than a roadblock? I think you will agree - that person will be UNSTOPPABLE if they consistently think this way.
Realize that no matter how hard things get or how bad things seem, you can CHOOSE take the approach of "I welcome this experience and it's pointing me in the right direction to my goals". If you do this and continue to do this and don't give up, then you will move more effectively and efficiently to your trading and investing goals.