Skip to main content

The Steps to Success

Self-discipline is simply a mental technique to stay focused on what you need to learn, or do, to accomplish your goals.There will be times when you won't have the resources to function effectively relative to the external conditions. Other times the resources you do have will be in conflict with both the conditions and your goals. So to accomplish your goals, you will need to adapt. In other words, you will need to change the way you interact with the environment. To change your behavior and how you experience the environment (feelings and emotions), you will have to change your perspective. To change your perspective, you will have to change the mental components that effect your perception of environmental information.

To be a successful trader you need to trade without fear. As you have already learned when you use fear as a resource to limit yourself, you will create the very conditions you are trying to avoid. Or to say this another way, you will experience your fears. You also can't learn anything new because fear will force you to perceive the environmental "now" from your individual past. You will experience that past regardless of the opportunities the environment may have to offer in that same moment.Your individual history will repeat itself until you change your history, which will then allow you to learn and experience something new. Evolving beyond your fears is also the best way to learn how to predict market behavior. The more fearful traders are, the fewer the choices they perceive as available to themselves and the easier it is to predict their behavior. You will be able to recognize this clearly in others when you recognize it yourself and work your way out of the condition where you trade with fear.

However, you will need some resource to limit yourself so that you don't get reckless. Getting reckless is exactly what people have a tendency to do if they don't feel any fear, especially if there is a potential for thrilling results, as there is in trading. The resource you need to limit yourself is self-trust. You will gain that self-trust when you establish a set of rules and guidelines to trade by and know that you will always follow those rules without hesitation, regardless of the temptations to do otherwise.
Once you trust yourself to always do what needs to be done, there will be nothing to fear because the markets won't be able to do anything to you, as a result of your inability to respond appropriately. Consequently, with nothing to fear, you are then free to observe the markets free of distortions. There won't be any need to avoid certain categories of information because of how that information will make you feel. The less reason you have to avoid or distort information, the more you make yourself available to learn about the nature of the markets.   

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...

So what is your money blueprint set for?

Are you programmed for managing your money well or mismanaging it? Are you a spender or a saver ? Wealth principle: The only way to permanently change the temperature in the room is to reset the thermostat. In the same way, the only way to change your level of financial success "permanently" is to reset your financial thermostat. You can become an expert in real estate or the stock market. All of these are tremendous "tools." But in the end, without an inner "tool-box" that is big enough and strong enough for you to create and hold on to large amounts of money, all the tools in the world will be useless to you. Your income can grow only to the extent that you do. Remember that the first element of all change is awareness.Watch yourself, become conscious, observe your thoughts, your fears, your beliefs, your habits, your actions, and even your inactions. Put yourself under a microscope. Study yourself. Wealth principle: Consciousness is observin...

Wealth File #4 Rich people think big. Poor people think small

Wealth principle: The law of Income: You will be paid in direct proportion to the value you deliver according to the marketplace. The keyword is value. It's important to know that four factors determine your value in the marketplace: supply,demand,quality and quantity. The factor that presents the biggest challenge for most people is the quantity. The quantity factor simply means, how much of your value do you actually deliver to the marketplace? Another way of stating this is, how many people do you actually serve or affect? Most people choose to play small. Why? First, because of fear. They're scared to death of failure and they're even more frightened of success. Second, people play small because they feel small. They feel unworthy. They don't feel they're good enough or important enough to make a real difference in people's lives. But hear this: your life is not just about you. It's also about contributing to others. It's about living true...