Why you can succeed in trading! You are capable of a lot more than you think. We humans have a nature that holds us back. We tend to keep away from the unknown an unfamiliar. We like the things in life that bring immediate pleasure. Further more we stay away from the things that bring us hurt and pain. Trading is a strange world that brings a lot of hurt and pain. It takes a long time to master. When you master it, it brings less pleasure because it is effortless and automatic.
There is a lot of freedom and money to be made in trading when mastered. So why does +80% af traders fail and quit trading? All of the 80% had belief that they were going to trade from their yacht in the Bahamas.
It is simple. Trading gave the 80% more hurt and pain that they could take. The pleasure from your wins does not make up for all the difficulties in the beginning of your trading career.
That takes ud to another question. Why does trader succeed if the journey is so difficult? For that questing there is more answers than this blog allows. The main ones is that they find ways to cope with the resistance. They get professional help. They have a talent due to schemata from their past that just fit well with trading. Good news, it can be learned and acquired.
Blog continues below.
Three tools to trade for longevity
I want you to have the best chance at succeeding in trading. Three ways to improve your odds is following these simple advice.
- Journal and review. Get your buddy, coach or partner to review it to. Journaling is a stressrelief and a mindful exercise that lets you reflect on your performance. Did you follow your rules and did your trade at you individual zone of optimal performance? What should be the focus for my next session? Am I sticking to my strategy? Process over outcome! This is the after phase.
- Take time away from trading. Trading can be an all consuming beast. You get sucked in, and that is all you think about. Plan a good transfer phase away from trading. That will bring longevity to your trading career.
- Get a trading buddy, coach or partner to share the journey with. Get a person that will help you keep your direction. A person that will call BS when necessary. One that will pick you up when the going gets tough. And that will keep you progressing towards becoming a professional trader.
Trading will enhance your emotions and beliefs. Most of all doubt and limiting beliefs will show up to the party. You need to be prepared.
Trading can be immensely rewarding both on a financially, mental and personal level. I wish you the best on your journey.
Claus Andersen – Mental Trading Coach
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