Skip to main content

EXERCISE TO IDENTIFY CONFLICTING BELIEFS

Set a timer for 10 minutes. Write a series of statements that begin with "I am." Write as fast as you can and let every thought come to your conscious attention. It is extremely important that you do not censor any statements, especially the contradictory ones.

At the end of the 10 minutes, look at the list and cross out everything that is a fact. For example, you would cross out statements such as I am a man/woman, I am blue-eyed, I am brown-haired.

All the statements that remain are the beliefs you are looking for. The beliefs that contradict each other are of particular importance. Contradictory beliefs cancel your energy because you have a built-in mental conflict between the validity of one belief expressing itself only at the direct expense of another belief. What are some examples of conflicting or contradictory beliefs?

I have to win./I may be undeserving.
I am a winner./I am a loser.
I am successful./I've missed my chance to be successful.
I deserve more./I am guilty.
I am a perfectionist./I believe humans are inherently imperfect.
I am trusting./I am untrustworthy or people are generally untrustworthy.
I believe there is no middle ground of satisfaction between winning and failure./I am pleased with myself and my progress.
I am honest./I am dishonest or people are generally dishonest.
I believe working is the honest way of making money./I believe trading is easy money, not work.

Comments

Post a Comment

Popular posts from this blog

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.
Post a Comment
Read more

Reading the Tape

 Dr. Steenbarger, aka the godfather of modern trading psychology, wrote: “My experience is that an understanding of (and ability to read) order flow is one important factor that separates the older, successful generation of day traders from the newbies who only know simple chart patterns and indicator readings.” continue working on the skill of reading the tape and to sell the stock on the offer when the tape showed weakness. “Reading the tape must be learned through personal experience and long observation.” keep in mind that nothing can top experience. Don’t give up. It is not always this easy to Read the Tape. But there are plays where it really is simple. And reading the tape will offer pattern recognition plays that you can exploit. Overcoming a Confirmation Bias We all fight confirmation bias. But it will harm our performance if we do not overcome it. Let the tape talk to you. And use online vehicles like StockTwits and your peers sitting next to you to gain second ...
Post a Comment
Read more
 All great leaders in every walk of life are highly sexed, but they follow the habit of controlling their sex desires, switching them into a driving force behind their occupation. The person who has self discipline understands the emotion of sex, respects it, and learns to control and transmute it into contructive activities. Q: Just what damage is there in over-indulgence of sex? A: The greatest damage is that it depletes the source of man's greatest driving force, and wastes, without adequate compensation, man's creative energy. Controlled sex supplies the magnetic force that attracts people to one another. It is the most important factor of a pleasing personality. It gives quality to the tone of voice and enables one to convey through the voice any feeling desired. It serves, as nothing else can serve, to give motive power to one's desires. It keeps the nervous system changed with the energy needed to carry on the work of maintaining the body. It sharpens the imagination...
Post a Comment
Read more