Trading Psychology - A Major Nemesis For Most Traders
As a trader, you’ve many feelings and emotions to deal with, including
- Greed
- Fear (a whole bunch here)
- Hope
- Despair
- Hurt
- Regret
- Revenge
- Anger
- Guilt
- Depression
- Hopelessness
- And a whole Pandora’s box full more
But there is ONE stands out as the real Nemesis for
most traders…
… the one that keeps them ’stuck’ at that level of mediocrity
that is the slow death that lasts for years:
It’s almost more like a terminal condition than a feeling.
And when you’ve got it, it can come at you from so many
different directions.
What really stinks is that when you’re not aware of it,
it disguises itself as other issues.
You can attend to one symptom, think you’ve got it beat,
only to find it rear its ugly head as something else.
One cause, different appearances.
And it drive you batty because it never seems to go
away and your overall trading just never seems to
get where you want it.
So what is it and what can you do?
First thing is to sign up for the Trading Psychology Coach,
the trader’s periodical that is designed specifically to help
you recognize and effectively deal with the tough challenges
that you have to deal with as a trader.
The second issue is about to be published and deals
directly with this ‘mental cancer’ for traders.
Cheers
Brian
P.S. Don’t let this one factor stand in the way of improving
your quality of life through better trading. When you remove
obstacles, progress becomes so much easier and more
natural.
Trading Psychology - One Thing Trumps Everything Else In Successful Trading
Filed under: The Personal Side of Trading, stock trading, trading psychology
There is ONE THING in trading that trumps all else
Everything else takes a distant second place to this one aspect of profitable trading.
Before I tell you what it is, let me ask you a question.
Which did you think was most important for consistently profitable and relaxed trading?
- Your winning percentage?
- Which markets you trade?
- Your strategy?
- Your system?
- Your platform?
- Your account size?
- Your money management plan?
- Your risk management plan?
- Your data feed?
Huh uh. None of them is more important than this ONE THING.
Oh, and here’s another big clue to how important this is…
With this ONE THING, you can be missing ALL of the others and still wind up a profitable trader.
Okay, so tell me already. “What is this all important ONE THING?”
Your mindset.
Your collection of beliefs, perceptions, attitudes, biases, filters.
Your decision-making framework and timing determinant.
It is your state of mind, your quality of consciousness and your level of awareness to both the external and internal worlds.
In trading, your mindset is everything.
A trader that has NOTHING to start with will quickly become a profitable trader because with the right mindset, proper and focused action is easy.
…because with the right mindset, emotions are an asset, not a liability.
…because with the right mindset, decision-making is simplified, not compounded.
…because with the right mindset, good timing is natural
Every trader I talk to that has gone from struggling and frustrated to comfortable and at peace experiences a moment, an event where a shift occurs -
and there is a common element for every single one of them:
… it is a shift in their mindset.
It is NOT a new broker they moved to or new trading system or anything else on the list above.
The turning point is always a shift in the mindset.
Now achieving that turning point has certain requirements, and it is something that has to be maintained as well.
But you have to start somewhere, and you’ll never achieve it in the first place without one of two things:
1. You can have such a terrible and traumatic experience that it is forced upon you.
2. You can give the matter your conscious attention and make it happen on your terms and on your timing.
Which would you prefer? The second I’m sure.
So to help you with the second path, I’ve created the Trading Psychology Coach - and you can find out more about it by clicking the link below.
Cheers
Brian
P.S. Every effort toward improving your mindset mastery pays off. It is one of those areas where the investment in yourself always reaps a good return.
GET and KEEP the winning mindset by clicking here
Those Clever Yahoos Know Exactly What Could Happen
Those clever yahoos at the CFTC know full well what the ramifications are for the latest proposal - and it looks like they are going ahead anyway.
Now the questions and all the fuss suggest that they are UNAWARE of the consequences of their actions - that this would completely destroy the Forex trading here in the U.S.
But there is just NO WAY that the DON’T know.
So this begs the REAL QUESTION: Who will benefit and how?
Here’s the BIG problem:
“Leverage in retail forex customer accounts would be subject to a 10-to-1 limitation.”
Here’s where you can read the press release about it.
http://www.cftc.gov/newsroom/generalpressreleases/2010/pr5772-10.html
Most importantly, here is how to make your opinions known.
You may submit comments, identified by RIN3038-AC61, by any of the following methods:
1) Federal eRulemaking Portal: http//www.regulations.gov/search/ index.jsp Follow instructions for submitting comments.
2) Email : secretary@cftc. gov. Include “Regulation of Retail Forex” in the subject line of the message.
3) Fax (202)418-5521
4) Mail: Send to David Stawick, Secretary, Commodity Futures Trading Commission, 1155 21st Street,. N.W., Washington, DC 20581
Cheers
Brian
P.S. Let’s hope and pray that they really are so blindly ignorant that they didn’t realize what this would do and that receiving truckloads of emails will get them to do the right thing.
P.P.S. Here’s a thread discussing this in more detail
Trading Psychology - Four Sources of Self-Sabotage
Have you ever felt like you sabotage yourself sometimes in your trading?
If you’re like most traders, you have and probably on more than one occasion.
One of the really aggravating aspects of self-sabotage is that it’s right in your face.
You know you’re doing it.
You know that you’ll regret it.
It happens anyway, and then yes the regret kicks in. Sometimes anger and and self-chastising come into play as well.
If it was coming from only one source it might be easier to address, but in truth there are four.
And no matter how many months or years experience you have, how great your system is, any one or more of the four can wreak havoc on your trading account.
Bummer.
The good news is that once you become aware of the four sources of self-sabotage, at least then you can take steps to protect yourself from their influence in your trading.
The other nice thing is that you can ease up on yourself a bit. Nothing can take you down faster than a furious session of self-berating.
When you understand what’s going on, then you can be a bit kinder to yourself, which is much more productive.
That’s just one of the reasons that I created the exclusive video, “Four Causes of Self-Sabotage”.
You won’t find it anywhere but at InsideOutTrading.com and it’s not even for sale.
To see how you can get access to it,
Cheers!
Brian
P.S. You’ve heard the saying, “We are often our own worst enemy.” You’ve probably also experienced it in your trading.
Take the first step to ending your self-sabotage right now - it is very costly in terms of capital but more importantly peace of mind and self-esteem.
Trading Psychology Coach - Questions and Answers
Brian here and I’ve been getting tons of email from people who are excited about the Trading Psychology Coach, but wanted more info.
I wanted to make sure that I answer the questions for everybody, so just in case you had the same questions, I decided to send you this.
The most common questions I’ve been receiving are:
1. “How do I know this will help ME in my situation?”
Answer: The Trading Psychology Coach is the product of my own experience through the learning curves of becoming a trader, plus I’ve helped hundreds of traders work through a wide variety of issues.
You may feel very isolated at times in your trading and it’s not uncommon for traders to wonder if others are going through what they are.
While everyone is a unique person, the challenges encountered by traders are not uncommon. The path to becoming a consistently profitable trader has common pitfalls, trials and milestones, and the lessons learned are often similar as well, so yes, you are VERY LIKELY to find help for YOU in your situation.
2. “Is the Trading Psychology Coach just for beginners? Or is it only for experienced traders?”
Answer: The Trading Psychology Coach is for traders with at least 2 to 3 months experience. If you’re an absolute rank beginner, you may still be stuck in the mindset that would have you dismissing the lessons and the consequences for ignorance.
3. “Am I being obligated to a long-term arrangement? I have a thing about signing up for anything with recurring billing.”
I can relate to how you feel, but you are safe here.
One of the main reasons that this is a periodical is to give you on-going support for better trading.
I see it all the time where people will spend $4,000 to $7,000 a year for new trading systems or software that only perpetuate the up-down cycle.
Worse than that, they put on their credit card and wind up with a monthly payment in the hundreds of dollars - and little to no results to show for it in their trading.
The Trading Psychology Coach is a small investment with a high return.
Greater consistency is one of its primary functions, along with keeping you on an even keel and providing on-going support for the greatest factors in your results:
…your decision-making and your timing.
These are the mental and emotional aspects that the Trading Psychology Coach is designed to help you with.
If you wait it will cost you…
It is so easy to make costly mistakes or errors in judgment in trading that continuing to trade without thise help is just asking for trouble.
Plus, right now you also have the opportunity to get in at the introductory price and get two special bonuses, but you have to act before this offer comes down.
Cheers!
Brian