Skip to main content

Asking Yourself Questions

Here are some questions you can ask yourself that will help you to identify some beliefs that may argue against your giving yourself more money.

What do you believe about guilt? How do you know when to feel guilty?
Under what conditions would you not feel guilty, even if someone else wanted you to?
Is it possible to transfer those same standards to areas where you would feel guilty?
What would stop you?
Who or what out of your past says it is wrong and you can't do that?
Is their assessment of reality any more valid than yours? If so, why?
Do you find these beliefs useful? If so, in what ways? Do you find them limiting? If so, in what ways?
If you could identify and change the experience that created the belief, how would you change it?
What would stop you from changing it?

For the following questions you can substitute the words "is true" for the words "do you believe."
What do you believe about competition?
What do you believe about taking money from other people as a result of your superior trading skills? What do you believe about losses? What do you believe about other people's opinions? When are they valid? When aren't they valid? What do you believe about being wrong?

By answering these questions, you will begin to gain a sense of your own particular behavior and the range of choices you allow for yourself, or do not allow for yourself, as a result of your beliefs. Sometimes it is easier to identify a belief by trying to notice what you specifically believe is not true. You could also look at your beliefs as if they belonged to someone else. If they did belong to someone else, think of an experience in which this other person responded to certain life situations in very typical ways (because of your beliefs). Then think of ways he or she could respond if he or she had different beliefs. When you discover some beliefs that aren't particularly useful or are inconsistent with your goals, then use an affirmation or collapsing technique to decharge the energy out of it.   

Comments

Popular posts from this blog

Maximizing Your Profits with Scoring

SETTING YOUR MAXIMUM INTRADAY TRADING LOSS First things first: set a max intraday trading loss. There will be days when you just do not have it. Why do you think coaches pull their players when they are not playing well? They are more harmful on the field than off. When you are underperforming, you are hurting your team and your trading business. You need a system to yank yourself over to the bench. A stop loss is your answer. TRADING BASED UPON THE TIME OF DAY A good trader makes note of what time of day it is, when he trades most profitably, and adjusts his trading to fit such times. Your numbers at the end of the month will not reflect your true trading potential. Make the most trades with the most size during the trading periods that statistically are most profitable for you. Money saved during your weaker trading periods is money earned. Consistency The fact is that most trades you make will start working for you right away. But the new traders also hold stocks that are trading ag...

CAN A FIRM ALWAYS SPOT THE NEXT GREAT TRADER?

 No. But a prop firm can tell who has a poor chance to become a CPT. To be good at anything will take everything you have. Not having developed the skills to work hard is a turn-off. Trading is a skill learned by doing, not just by reading a lot, theorizing, or the faux art of “paper trading.” THE PROS AND CONS OF RECRUITING EXPERIENCED TRADERS Loyalty is a good thing to a point, but it cannot trump logistics and reality. losing money should really bother you. If I am negative three days in a row, I spend a long evening on my couch with a bottle of red wine and comfort food. As traders, we can all recite the memorable line from Wall Street: “A man looks in the abyss, there is nothing staring back at him. At that moment he discovers his character. That keeps the man out of the abyss.”  Traders don’t talk about how they want to trade, what they want to read about trading, or how they wish they could talk about trading. Traders trade, read about trading, and talk about trading.

How to Make Good Habits Inevitable and Bad Habits Impossible

Sometimes success is less about making good habits easy and more about making bad habits hard. This is an inversion of the 3rd Law of Behavior Change: make it dif icult. If you find yourself continually struggling to follow through on your plans, then you can take a page from Victor Hugo and make your bad habits more difficult by creating what psychologists call a commitment device. A commitment device is a choice you make in the present that controls your actions in the future. It is a way to lock in future behavior, bind you to good habits, and restrict you from bad ones. When Victor Hugo shut his clothes away so he could focus on writing, he was creating a commitment device. There are many ways to create a commitment device. You can reduce overeating by purchasing food in individual packages rather than in bulk size. You can voluntarily ask to be added to the banned list at casinos and online poker sites to prevent future gambling sprees. I’ve even heard of athletes who have to “mak...