The Winner takes it all

The Winner takes it all

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Hi everyone,

Ever had that “brain wrapped in cotton wool” kind of feeling? You know, the one where you;

  • Can’t see the “wood for the trees”
  •  information overload
  • confusion as to what works & what doesn’t
  • one person saying a method works & yet another saying it is really bad
  • unsure of which markets to trade
  • too many markets
  • too few markets
  • too many methods
  • not enough methods
  • not enough time
  • not enough funds
  • hitting the brick wall
  • no good at this trading lark
  • perhaps it’s the platform
  • who’s teaching is right
  • who’s teaching is wrong?
  • Am I missing the holy grail?

Shall I go on?…. or perhaps you have already picked out enough of the above to be nodding your head right now?..

Ok, let’s see if we can burn a little ray of sunshine into those fog clouds to see if we can start clearing them but I need your help… seriously, I really need your help on this one.

What ideally needs to happen is a few minutes of “you” time. Just enough time where the outside world is shut off & it’s just you, me & these common sense approaches.

1.     Give up your negative thinking

This isn’t easy but it must have a starting place. Most of us suffer from negative thinking at some point. When I wake up in the morning I am the most negative person ever!… several minutes later after engaging my brain & rebooting my mental server, all is well but giving up negative thinking is tough to the untrained mind because it is comforting, it gives excuses for failure & it allows you to avoid any challenges. Just think, if you are trying to aim for a goal which requires positive thinking, then if you are negative then you can only be working away from your goal. Allow me to be blunt. Success in trading will never come to those with a negative outlook. Negative thinking HAS to be turned around before you will attract trading success . This is fact.

2.     Trade for achievement, not money

Many people starting out in trading are only focussed on the money. I believe this to be the wrong approach. Sure, we all enjoy the financial aspect that trading success brings us but personally, my life is never going to be measured by financial success. Others may judge me on this but my life is successful in terms of freedom. Free from job slavery, free from political slavery & free to do what I want, when I want within the laws & moral codes. This makes me happy, not money. Now if you have that burning desire for something like freedom or achievement of some description then money tends to automatically follow. In fact, most of the full time traders I have met both in person & online from around the world share a common trait – money is secondary to our reason for trading & in fact, many of these with small fortunes you still wouldn’t give a second glance in Tesco’s on an Friday morning because they are happy & not motivated to impress others with financial gain

3.     Develop persistence

Without persistence you are not going to achieve anything as you will be required to make commitments on an ongoing basis. When it’s late, when you are tired, when the going is tough – all these kind of time when trading is testing you to the limits & only your persistence & commitment is going to pull you through. Two phrases spring to mind here;

Rest if you must but don’t’ quit

Trading is lifelong marathon, not a 30 day sprint

4.     Demand more of yourself

Make a commitment today to stop using all of the excuses we saw at the top of this page. You can do anything, extremely well, if you decide to do so & if you find yourself saying you are no good at trading, well there is three reasons that you aren’t – firstly, you are the one who says it… nobody else, secondly, you avoid putting in the extra effort whenever you can & thirdly, you never practise your trading on a consistent basis.

Reverse these around & just check it out… Stop telling yourself you are no good at trading & start believing in yourself, make sure you put in the extra effort like screenshots etc… & lastly make sure you put into practise all the extra effort you put in after all you have no chance of refining a method that you have relied on a static screenshot to produce. You need the live market to do that & after all, if you can’t practise your thought & methods on the live markets then you are simply going through the motions.

Develop these areas & you really can be the winner who takes it all

Until next week, have a fantastic weekend & I’ll see you at the top!

Damon

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