The most important aspect of success anywhere is your own psychology (especially trading).
There's no way around it, if you want to make money in the markets, you must take control of your emotions and understand the different psychological issues you may have. We all have bad moments, bad habits, and just some plain bad ideas. All of this comes from within your own mind and psychology.
So within this blog post I'll be giving you a few ways that can help improve your psychology, whether it be for trading or not is up to you. I will try to build this so it's applicable to any walk of life.
The fact is it doesn't matter if you're a trader or not, because psychology is the determining factor in almost all cases of success.
This applies to you no matter what.
Attitude is Everything.
In terms of your success in trading, business, life, or anywhere else, your attitude is the ultimate factor. Without the correct attitude you will miss out on million dollar opportunities, that dream girl or guy, and basically everything that your life could potentially be, or perhaps already should be.
Let's have a quick look at a young woman named Sammy is feeling extremely tired today, she just got out of work and goes to sit on the couch and watch some mind numbing T.V. She's tired, bored, not feeling good about herself, and generally just unhappy. She opens up the paper and rolls to the winning lotto numbers and realizes she won! She jumps up and down, does jumping jacks, runs to the phone and calls everyone she knows.
But wasn't she just tired? If she was so tired then why she able jump up and fly around a million miles an hour. It's because she wasn't tired. Her attitude was just a tired one. There's no reason she can't be this happy and fulfilled all the time, she just chooses to normally take on a sadder more depressed feel.
You might hit the lottery one day, but what you can start doing right now and seeing instant results is having an attitude like you just won the lottery. Happy, proud, and excited. If you can attract the correct attitude you can basically do anything you want.
Ask yourself if your attitude is a negative one or a positive one and try to realize how you can change it.
Usually all you need to do is realize that the way you see things and are influenced on is entirely dependent on you. Nothing is happening to you, you are happening to it.
Always try to affect a positive, enthusiastic attitude.
Act like you hit the lottery every day when you wake up.
LIfe is just the ultimate game!
Tracking Your Habits.
Keeping thorough records is extremely important. For traders you need to keep track of all of your profits and losses for taxes. However, what might be even more important is your ability to track your own psychology. The next time you take a trade really try to break down all of the thoughts you have before, during, and afterwards.
If you can figure out the things you are doing wrong and write it down it's far easier to focus in on and eradicate it. If you can write down exactly what you are doing, how you feel about it, and how you feel about it afterwards.
Try to record and build up a journal for your trading.
If there are other areas of your life that you would like to improve as well, this can be very helpful.
No matter what you do, start tracking it and see where you might be going wrong, and what you can start doing better. It can be much easier to understand things when they are written out in front of you.
Deal with your stress.
This is far more important that it might seem. If you are stressed out with too many things going on, debt, or unnecessary evils, it's time to take a stand. Write out the 5 biggest stressors in your life and do your best to deal with them in a more positive manner or by getting them out of your life.
No that doesn't mean you should leave your wife, quit your job, throw your bills in the trash, and put your kids up for adoption. However, you should take the time to understand why you have stressors, and how you can look at it with more of a positive outlook. Unnecessary stress can make you take bad decisions (bad for trading and investing) and can have a terrible effect on your health.
Write out 5 things that stress you out.
Break down a few ways you can relieve yourself of each stressor.
Understand that you are a god. I've never been religious, however I have always believed in God. I am God, you are God, we are all God. We all started from the same point, the center of the universe. You have traveled millions of light years to reach this point.
If that's not impressive, I'm not sure what it.
You are an extremely valuable, powerful, and intelligent person.
You are capable of everything and anything you can imagine.
Until you start to understand your potential, and have confidence in yourself, you will always fall short, or settle for less than you deserve.
Never settle, and always remember that you deserve the very best.
Believe in your ability to make decisions.
Never limit your potential, it would be letting us all down and worst of all yourself.
Your subconscious mind has such an insanely powerful effect on your overall livelihood. If you're not taking time to understand your subconscious thoughts and feelings, you're walking down a very dark path.
Take 10 minutes a day, and just go shut up.
Stop talking, get quiet, and just think with yourself.
Don't expect anything, just allow yourself to think. This can have a greater effect on your life than you imagine, and you won't even realize it happening. Basically start meditating.
I just don't like to label it that because people seem to have a bad taste about how boring it is and that only buddhist monks can do it. Try this, just go somewhere for 10 minutes, and shut the hell up. :)
Hope you enjoyed this email as much as I enjoyed writing it!
If you did please let me know I love to hear from you guys.
It almost always makes my day, and I love to meet new people.
Have a good one and remember attitude is everything, and that you need to start tracking the aspects of your life you want to improve. It's important to get rid of your stressors, and you need to value yourself for the incredible person that you are. Oh, and shut up for ten minutes!
President of Trading Sync
P.S: If you can figure out how to get down into your self. The thing that never changes, not you when you're happy or sad, these emotions are fleeting and liquid. However, you yourself are always here and can be improved upon. Only you can decide what will happen to you and how you will react.
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