Today is Monday February 15th, and the markets were closed today .
We are half way through the month of February and hopefully many readers of my daily trading blog are off to a good start.
I have just a few questions for everyone to think about. How are you approaching your trading? If you take the time and energy to answer you will have the opportunity to do something about changing it. You can do many of these things yourself, so think about some of them and write out anything that you may want to give more time to reflect on.
What is the quality of your “self talk” while trading? Is it angry, frustrated, negative, filled with feeling of defeat? How much of what runs through your mind is market focused or self focused? Are you calling out what you see, are you going through some of the key components of your trading method to see if you have low risk trades coming together?
Do you have the patience necessary to wait for the trade to come to you or are you seeking it out, looking under every rock.
What work do you do on yourself and your trading when markets are closed?
These are just some self evaluations that we should all being thinking about. We should be giving ourselves every opportunity to hit the trades as they come to us and do it with some formof confidence. We need to believe that we can do what it takes to put all of this together, but not letting that belief turn us blind to our shortcomings and end up only with wishful thinking.
Our trading should never be filled with negative energy. That will 100% get transferred to the markets and our trading performance. If you feel like any of the emotions I mentioned above, don’t trade. Keep your equity safe until you can get a better handle on those emotions. Just because you have funds in a trading account does not mean that you need to trade it every moment. Don’t be compulsive. If you see that trait in you, you need to find a way to purge that from your system. It will only hunt you down and bury you, ALIVE, if you let it. So, don’t let it. Take control.
Why do we trade? For the money, right. Well, a lot of people trade for trading sake. A form of entertainment or rush. That is really not go to take you where you ultimately want to go. We should, in my estimation, trade for income. That is a whole different mind-set. You need to think differently and do different things than you used to in order to make that work.
That alone, could make a big difference. Your approach to the markets is very important in how it all turns out. The battle is won and lost most often in your mind. That is the truth. If you know how to trade, this is the final thing that may be holding you back.
In my last post, I mentioned not beating yourself at this venture. The way most people allow themselves to be beat is by letting negative energy into their trading office / room / or where ever they trade. The first step in fixing those problems is identifying that there is a problem. There is no room for not facing our weaknesses. Just do it. Trading is a very personal thing, no one is going to know, only you, so write out what is your biggest struggles. Find solutions to them. With every problem there is a solution. You may not have looked hard enough. Don’t give up.
You need to be exceptional in every area of your life. That may sound like a tall order and we all know how human we are. We are filled with dysfunction, some more than others. That may be true, but that does not give us a license to just do what ever. There are always consequences to every action that we take, whether we believe in it or not. The more positive things that you bring into your life and the more you do for others, in general, the more in control, fulfilled, positive, optimistic and complete you will feel. That energy will give you what you lack to change any trading flaw that you may be facing. You will bring all of the positive energy with you to your trading room and that will get transfered back onto the markets, it can only help.
This may sound like a whole lot of goop to some, but I feel what I am saying has merit, well it does, because I lived it and experienced it. No one can deny that. That is why I can share it with you today. We all have struggled with various problems, those determined to overcome there shortcomings will prevail.
My hope is that this may help some to reflect on many of these points and some will take the time to identify where they need to improve.
Our words have so much power in them, we do not realize it. If we did, we would talk different, think different and then do different. Very few traders make money consistently, but if more of them did some of the things I wrote here today, many would soon close the gap, “How About You” !
Good Trading
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