I'd like to center this tip around some concepts that you must master as a trader. First, you need a strong initial evaluation of yourself and what you needed to do to improve your own performance. Let's look at it this way. Suppose you are in the middle of the desert. There are no roads, but you do have a map indicating where you are to go. However, what's missing is some indication of where you are now. And remember that you are in the middle of the desert. Bottom line is that how can you get where you want to go, when you don't know where you are. Similarly, how can you work on yourself as a trader, if you don't know much about yourself. And that's the situation most people face. They think they know themselves well, but they really don't know anything about themselves.
Secondly, if you want something, you must practice "being" it. Being, in other words, comes before doing or having. In my opinion, most people want to trade well, but their primary concern is in how to do it and in having the success. You must practice being a successful trader first. From that state you will get information about what to do and that will produce what you want to have. Many people also believe that they must struggle and work hard to get ahead. This again is the antithesis of the "being" successful statement. If you believe you must struggle to become successful, then you probably will struggle a lot.
Third, many traders have what I call the perfectionism-complexity complex. In other words, what you have is never quite good enough. It can always be improved in some way. There is always another exit or another entry that will make it better. What this means is that you will always be struggling with new ideas. There is always something more to test. Consequently, you never gets to the real issue of trading and just being a trader, doing trading. Instead, there is always one more thing to test - always one more thing to do, and never enough time to just relax to trade. Give up complexity and move toward simplicity.
The best traders are always those who practice simplicity. For example, at a recent seminar, one trader remarked, "I just buy what's going up. If it goes against me, I get out immediately. If I goes in my favor, I let it run. I've made a lot of money doing that." That really is simplicity, but you can only do that if your mind and spirit are pure and you are really paying attention to what the market is doing. It's the purity of spirit that makes a big difference. This particular trader always asks inside for guidance before beginning the trade day. I tend to believe that makes a big difference.
Fourth, many traders (and people in general) suffer from low self-esteem If you don't believe you are worthwhile, then that belief will tend to predominant everything else. You might have a belief that if I can just make money trading, then I'll feel better about myself. But that belief is really composed of two beliefs, low self-esteem and the belief that low-self esteem will be "fixed" by trading success. Unfortunately, that doesn't seem to be the case. The low-self-esteem always seem to predominant and produce behaviors to justify itself. Unless, of course, you are aware of it and do the kind of self-work that will improve your self-esteem. If you think that life is a struggle, it's probably due to your low self-esteem.
They key to all of these issues is to really understand yourself and realize that you are at the root cause of your results in trading. When you make that decision, then you have started on the route to success.
http://www.forexfactory.com/pics/articles/van_tharp.jpg
Van K. Tharp, Ph.D.
TradingEducation.com
Secondly, if you want something, you must practice "being" it. Being, in other words, comes before doing or having. In my opinion, most people want to trade well, but their primary concern is in how to do it and in having the success. You must practice being a successful trader first. From that state you will get information about what to do and that will produce what you want to have. Many people also believe that they must struggle and work hard to get ahead. This again is the antithesis of the "being" successful statement. If you believe you must struggle to become successful, then you probably will struggle a lot.
Third, many traders have what I call the perfectionism-complexity complex. In other words, what you have is never quite good enough. It can always be improved in some way. There is always another exit or another entry that will make it better. What this means is that you will always be struggling with new ideas. There is always something more to test. Consequently, you never gets to the real issue of trading and just being a trader, doing trading. Instead, there is always one more thing to test - always one more thing to do, and never enough time to just relax to trade. Give up complexity and move toward simplicity.
The best traders are always those who practice simplicity. For example, at a recent seminar, one trader remarked, "I just buy what's going up. If it goes against me, I get out immediately. If I goes in my favor, I let it run. I've made a lot of money doing that." That really is simplicity, but you can only do that if your mind and spirit are pure and you are really paying attention to what the market is doing. It's the purity of spirit that makes a big difference. This particular trader always asks inside for guidance before beginning the trade day. I tend to believe that makes a big difference.
Fourth, many traders (and people in general) suffer from low self-esteem If you don't believe you are worthwhile, then that belief will tend to predominant everything else. You might have a belief that if I can just make money trading, then I'll feel better about myself. But that belief is really composed of two beliefs, low self-esteem and the belief that low-self esteem will be "fixed" by trading success. Unfortunately, that doesn't seem to be the case. The low-self-esteem always seem to predominant and produce behaviors to justify itself. Unless, of course, you are aware of it and do the kind of self-work that will improve your self-esteem. If you think that life is a struggle, it's probably due to your low self-esteem.
They key to all of these issues is to really understand yourself and realize that you are at the root cause of your results in trading. When you make that decision, then you have started on the route to success.
http://www.forexfactory.com/pics/articles/van_tharp.jpg
Van K. Tharp, Ph.D.
TradingEducation.com
That article really motivated me.
