How To Be A Great Trader Part 3: the 2 keys to affect lasting change

Two days ago, we looked at what to do if you’re beginning to question if you’re ever going to make it as a trader, how the experiment they did with the Turtle Traders provides solid PROOF that you don’t have to have some ‘trader gene’ or some natural knack for trading to make it, that regular people from all different walks of life can indeed become successful traders.  You can read that article here

The main thing is that even though you’re still not there yet even with all you’ve tried in the past, it is critical for you to remain open to the possibility of your own success

Yesterday we took a look at how most traders only know the experience of emotional, stressful, frustrating trading, filled with mistakes and disappointment – because this is how they started out and this is the ‘normal’ they’ve established

They can’t get to experience the relaxed, confident, consistent trading they seek because they can’t keep the Big Four out of their trading long enough to establish a different normal – Greed, Fear, Hope and Despair continue to be part of their daily trading experience, interfering with nearly every trade.  You can read that article here

Picking up where we left off,

Here’s the situation most people tell me they’re in:

They’ve tried just about everything they can think of to do, from reading all the books on trading psychology to getting sold on “New” systems that supposedly with make them into consistent traders to tapping, and on and on the list goes.

They’ve tried all these things and sometimes they make a little progress, get their hopes up, only to wind up back in the same spot with in a matter of days or weeks.

The cycle of “try-and-fail” has become all too familiar, and that’s why they’re getting pretty jaded and cynical and wondering if anyone is making money as a retail trader.

Plus it doesn’t help having invested months and often years and thousands of dollars and still struggling with many of the same issues as a long time ago.

Now one of the main reasons it has been so difficult to affect any meaningful and lasting change comes from Einsteins quote:

“No problem can be solved from
the same level of consciousness that created it.”

This is especially true in trading because is such a highly mental activity.

The other thing is, like we’ve already established, if you’ve been living the “Normal” that most traders experience, then that it is the level of consciousness from which you’re trying to fix the problem.

Just doesn’t work.

So what can you do?

Well this brings us to the first key to affecting lasting change:

Get help from someone at the desired level of consciousness.

Now of course there are potential pitfalls with this, and many that traders encounter when seeking help, and you may see one or two that are familiar, such as

  • the ‘helper’ wants to help, but doesn’t really understand the root of the problem, and so can’t provide a solution that will work because they are trying to alleviate symptoms
  • the ‘helper’ wants to help, but just doesn’t know what to do to help you
  • they don’t really care (they’re just trying to sell you something)

Also, books and courses might offer some help, but lacking the interaction to deal with your specific situation and details, will likely not get you fully where you want to be.

The optimal solution is to have a mentor with whom you can interact, who can give you specific guidance, direction and feedback.

Of course, you need to make sure you’re working with someone that’s been around a while, understands what you’re going through, knows how to get to the root of the problem and can provide an effective solution

When you have the assistance of someone that knows your trading experience because they’ve been there too, AND they have the background of being a problem-solver and effective-solution-creator, now you have that ‘level of consciousness’ available to you to finally transcend the problem.

The second key to affecting lasting change is to approach the situation in a manner that changes your experience – this is critical.

Like we talked about yesterday, one of the problems with ‘experience’ is that if your experience only includes struggle, frustration and the cycle of ‘try-and-fail’, you remain the same person and trader that you are now – and bringing all your problems with you.

Only when your experience changes (and there are very specific ways to go about this) and produces a transformation in YOU will you be able to finally leave the Big Four and all your painful memories in the past.

This is why so many of the traditional ‘solutions’ in the trading psychology circles don’t have a lasting impact – because they attend to symptoms and coping with problems rather than actually solving them.  That, and/or they lack the interaction to attend to your specific needs.

Tomorrow I’ll share with you the details of the new “How To Be A Great Trader” Mentoring Program, and how you can get involved and finally (yes finally!) be free of your past experience with trading and actually make progress that moves the needle.

Talk with you soon!

Cheers

Brian McAboy
The Predictable Profits Engineer

P.S.  I hope you’re finding this series helpful.  Please feel free to reply with your thoughts.  I welcome the feedback!

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