Trading Psychology - 3 Big Aggravations You Shouldn’t Tolerate
More than likely, you have 3 HUGE aggravations in your trading if you’re like most traders - and you should NOT tolerate these because they really are completely unnecessary.
The first (and in some ways, the most irritating) is knowing that there are people making it in trading, and they aren’t half as smart as you.
- They haven’t put in nearly as much effort as you.
- Haven’t sacrificed as many evenings or weekends that could have been spent more enjoyably.
- Haven’t tried nearly as many systems or strategies as you have.
- And yet, they’re making money, relaxing when its time and feeling pretty good, while you’re still beating your head on the rock and bleeding, and not getting nearly as much good sleep as you’d like.
The second is knowing that there are plenty of trading strategies and systems that are readily available to you, but you don’t know how to find them, and even if you did, you don’t have a process to know if it is one that would suit you well and actually produce the way you wanted
Well you could find out by just going ahead and trying it, but that kind of stinks too, huh?
And it doesn’t help that it seems like every Tom, Dick and Harry has a system for sale, with everybody and their brother sending you emails promoting it.
Same problem: “Does it really work, and even if it does, would it work for ME?”
No method to KNOW without trying it.
And if you say “No” then you’re left toiling over whether you missed that “one system” that will fix all your problems just like they claim.
More aggravation. More stress.
The third aggravation is probably the worst, because this one is simply being stuck in the same crappy situation of NOT having achieved what you originally got into trading for, and even after all the different things you’ve tried, all the effort you’ve put in, you’re not getting there and you don’t know what to do.
Personally I hate it when I’m stuck and at my wits end as far as what to do.
When I’ve tried everything I can think of and still not getting the results I want.
One thing I’ve learned over the years is that if I find myself unable to resolve a problem on my own and I’ve given it a decent shot, to be smart enough to seek out help and a different approach to the problem.
And it always seems that when I’m finally ready for the teacher, the teacher does indeed appear.
At that point all I have to do is be willing to accept the help that’s being offered.
Cheers
Brian
“The Trading Turnaround Specialist”
P.S. Sometimes I’ll get an email from someone that just has a hard time believing that nearly all their problems can really be resolved so simply, to which I reply,
“You’re fully capable of making it. Trading is NOT beyond you. Just focus on the right things and you’ll find that you’ve conquered considerably more difficult challenges in your life than trading.”
That’s why I’m here. To help you find that short and very realistic path.
[Trader Training Video] How to protect yourself from getting scammed
Brian here with a reminder to protect yourself against getting scammed.
Here’s a short video with some tips on what to watch out for.
Have a great weekend!
Cheers
Brian
P.S. Oh yeah, one other thing to keep in mind: in the game of trading, sometimes a great offense makes for a great defense.
By focusing on becoming a better, more skilled trader, you also arm yourself against the various temptations that the scammers lure people in with.
Trader Training - Being Dependent On Others Sucks
Filed under: trading as a business, trading education, trading psychology
It really is liberating when you no longer feel the need to look at them any more.
When you can just go about your day without feeling torn about whether you should or not.
It only makes sense though.
I mean why were you looking in the first place?
I know that for me, I used to look all the time because I felt almost like I had to.
It was almost like I didn’t have a choice.
I suppose that in truth in some ways I didn’t.
I just HAD to look, because I was missing what they were offering.
I just HAD to open those emails and listen to the pitches for those hyped-up trading systems, because what I had wasn’t working and I didn’t know how to fix it or create a system of my own that would work.
Being dependent on others sucks.
That’s why it is SO liberating when you finally acquire the skill-set to take a system, ANY system and make it work.
When you have what you need, you don’t have to look any more.
You can even laugh about it when you do decide to take a peek, just out of curiosity.
When you can stand on your own two feet as a trader, that’s freedom.
You are truly independent when you have the know-how and skills to take care of yourself.
But you only get that freedom when you decide to make yourself self-sufficient, through the right skills and know-how.
Begin your liberation right now
Cheers
Brian
P.S. Wouldn’t it be nice to feel that sort of liberation for yourself?
Trading as a Business - An effective method to help you realize your goals
Filed under: trader training, trading education, trading psychology
Brian here with a few thoughts on how to support your efforts in 2012.
We all know the value of writing down goals and objectives, and that’s the first part of today’s exercise for you.
Step 1. Clarify as best you can your top 3 goals for this year.
Step 2. Write them down on a piece of paper.
Now we come to the second part of today’s action and this can be very powerful in helping you actually reach your goals.
Publicly declaring them.
Once you declare your intentions and put your goals out there for the world to see, you now have also given your subconscious the message that you will not accept anything less.
You are making it clear and you are not just keeping it ‘your little secret’ which can be easily dropped.
Now you have witnesses to your intention and that gives you mental leverage.
So your next action becomes easy.
Step 3. Post your goals in a comment below.
Simple. Powerful. Now go do it.
Have a great weekend!
Cheers
Brian
P.S. Now is the time to do everything you can to further energize whatever motivation you have regarding your goals.
Psychology of Successful Trading - Tip #6 for A Great 2012
Filed under: trader coaching, trading as a business, trading psychology
Brian here with Success Tip #6, and probably the most important one of all.
The last tip I sent you was about the 4 different groups of traders and how the first two groups never realize their goals, while the third group is on their way and the fourth group has arrived and enjoys all the benefits of successful trading.
The key is to be mindful of where you are now and do what you need to do, make the changes you need to make, if you do indeed want to make it to the 4th group.
The most critical and integral action that makes that happen is to PLAN.
You may have heard the life wisdom,
“The best way to predict the future is to create it.” - Peter Drucker
The reason WHY planning is such a high-ROI activity and such an incredible money-making tool is because it eliminates so many drains that often kill great ventures.
Now you may be thinking that trading is such a simple business that planning is not very necessary to become successful.
Sometimes I hear [not-yet-successful] people tell me that the planning is such a pain, that they’d rather just get busy doing.
And so I ask them a very direct and pertinent question:
“If you can’t build it on paper, how do you expect to do it in the real world?”
The plan is how you bridge the two, taking it from idea to tangible.
Plus when it comes to the psychology of trading, planning serves another extremely powerful function.
When you plan, you operate with confidence rather than courage.
What is the difference between courage and confidence?
Courage is when you hope to succeed, and act in spite of the fear of the challenges before you and the possibility that you will fail.
Confidence is when you know you will succeed, regardless of what challenges confront you.
When you plan, you foresee your obstacles and address them ahead of time.
When you plan, you make the path to your success direct, thus avoiding tremendously costly detours and delays.
When you plan, you make your success visible and tangible, which gives it staying power when challenges do come your way, and this keeps you going.
When you plan, you become efficient and effective.
With a plan, you gain control over your outcome.
A reasonable plan is the best assurance you can give yourself that you will indeed realize your goals and objectives, and in an acceptable time frame.
Subsequently you give yourself the best odds of receiving the rewards you desire.
Without a plan however, you deny yourself the opportunity to influence your outcome and are left only with hope.
Which is like flying without a flight plan or leaving port without a map.
You may make it to your destination, but you have to hope you don’t run out of resources before you finally get there.
The same is true in trading, but planning out a profitable trading operation is not easy without help and guidance.
Get help planning your trading success here
Brian
P.S. You’ve invested your money and yourself in your trading business, so give yourself the best advantage you can by properly planning out your success.
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