How to Be a Masterful Trader Part 5 - The Traders Mindset

Responsibility

I learnt from an early age that where I was in life had nothing to do with other people, blaming other people for what your life looks like just does not work (sorry about that dad!) but it does have to do with the decisions that I had made along the way.

I now get a lot of people coming up to me from all walks of life; wanting to talk to me about what it is they need to do to get ahead in life.

The first thing that I tell them is to "sort their thinking out"; if they have negative thinking then they will have similar results in their life.

To truly embrace success in any venture, you must be the picture of responsibility for your self and your actions. You need to make a deal with yourself to do what it takes to achieve your goals.

The responsibility to stick your commitments - both to yourself and others is the mark of a true Entrepreneur.

An Entrepreneur is Self Employed

One of the biggest things to realise is that most people have an employee mentality and this sort of approach to trading is disastrous.

As a trader you need to take responsibility for everything that happens with your trading otherwise you are handing your personal power to the market.

The sentence that generally produces clarity is:

"what is it that I could have done better with this trade?"

Your Income Reflects Your Thinking

This reminds me of a statement that was said to me in my early twenties which goes something like this "you need to work on improving your thinking and once you improve your thinking your income will catch up",

I take this to mean that if work on understanding which thought patterns you have that are holding you back from being successful in life and replace them with one's that will have you achieve your goals.

Even when I attended the "Mind Powers" course at the age of only 19, people still saw me greater than I saw myself, I learnt things there that should have given me a great future but it was my thinking that held me back.

I believed back then that I was useless and my finances were a representation of that thinking. It was only when I realised that I was worth a lot more that my income started to increase.

Your Thinking Reflects Your Vision

I personally believe that you get what you want (law of attraction) when you ask for it but; with a bit of a twist...

You get it by transforming yourself into the person who has what you want and then taking the actions that this successful person would take.

Remember statements such as: "You become successful by studying someone who is successful and applying there traits to your own life".

One way of doing this is to imagine what your life looks like in the future. Study yourself and take notice of who you are in the future and then compare this person to who you are now. Then take note of the areas that are different; it is these areas that you will need to work on to achieve your goals or desires.

Holding True to Your Vision

So if you are not getting the results that you desire, then who are you being (what is the core belief that is holding you back), and who do you need to become to achieve this?

Start replacing those beliefs that are holding you back like:

This is too hard,
I don't know what I am doing,
I don't know how to use a computer,
I don't deserve this etc

..and replace them with positive beliefs such as:

I know what I am doing,
This is simple,
I'm a disciplined trader,
I execute trades perfectly with patience and clarity etc.

Now this does take effort, it won't come naturally, you will find yourself falling back into old habits or beliefs because it's what you have been doing for that last couple of decades. So don't be too hard on yourself remembering this is a journey so enjoy it.

So, I will see you in the trading arena.