Why Positive thinking in trading is important

By | September 9, 2014

The language you use as a trader can provide either positive reinforcement through honest self awareness or negative results through demeaning self talk.  In other words, when discussing your trading with others or in your journal become aware of how you view yourself.

Do you see yourself as an amateur, a whipping post, a loser?

Do you blame an indicator or the market or an advisor for your failures and lack of discipline?

When you are with others do you brag about your winners and hide your losers?

All of this talk is based on fear:  fear of being wrong, fear of what others might think of you and your decisions; fear of the market; fear of being afraid. 

When you practice positive self awareness  you create a fertile learning environment that allows you to grow and progress as a BETTER trader, not focus on BECOMING a GOOD trader (implying that you are a bad one).

When I work with individuals I often hear the following:  “If I would just do this I would become a good trader” or “If I had your discipline I would be a able to make money.”  These statements are grounded in a sense of doubt and fear.  Instead, these statements should be replaced with “I am becoming a BETTER trader because I know the market cannot hurt me” AND “I am becoming a BETTER trader the more I stick with my rules.” 

See the difference between the two?

One is focused on the joy of progress; the other on the fear of not being good enough.

Are you focused on progress or failure?

Listen to yourself and you will quickly figure it out.

 

It is EASY to get down on yourself and much HARDER to remain positive in the face of adversity.

Leave a Reply