3 major steps to turning a trading career around
STEP 1: For the sake of your trading career, PLEASE wake up and face the cold, hard truth: If a trader is over trading, trading impulsively, revenge trading, missing trade after trade, hesitating, chasing the market, entering late, taking premature profits, moving his stops too close to the market, or too far away from the market, breaking his rules, or blowing up accounts, then change is immediately required. In order to get results, you must stop wasting time with well meaning but ineffective self-improvement methods that are not working.
You must stop promising yourself that "Today will be the day I turn my trading around".
Yes, positive thinking is good. However, after weeks, months or years of positive thinking without consistent results, it’s time to realize that positive thinking is not enough.
If you are not seeing dramatic improvements in your trading, I recommend that you stop wasting your time with affirmations, audios, self-hypnosis, law of attraction, EFT, TFT, and all other change methods that have not gotten you where you want to be (or at least, drastically change the trend of your trading results).
My experience has shown that while those methods are helpful for some issues, they are not the right tools for stubborn trading psychology challenges.
STEP 2: Learn and accept this key fact:
If you already know how to trade and have a method that gives you an edge in the market, and yet you are still struggling, the root cause of your challenges is this:
Certain “programs” in your subconscious mind are ruining your ability to trade your method and take the profits the market offers you.
These programs destroy your trading performance much like a virus destroys the performance of your computer.
These performance destroying programs in your subconscious mind include:
* “I'm a winner. I will NOT walk away after losing. Only wussies step aside when the going gets tough. I will fight until I clearly win, or clearly lose"
This program, which helped you greatly in your life before trading, now leads to blown up accounts, severe losses, and outbursts of emotional and out of control trading.
This program literally forces you to keep trading when you know you should get up and walk away. This program of "I will not walk away after losing" will continue to destroy your account until it is identified and deleted. Which is when you can finally start trading with consistency and control.
* “I hate losing, it makes me feel out of control, and I take it personally"
If you have this "hatred of losing" program, and you also have a program to avoid confrontation with forces greater than your own, this program will force you to hesitate... it may actually totally paralyze your ability to enter the market
This program, and related programs, may be forcing you to MISS 80%-90% of high probability trades that your method offers you.
This program is VERY strong. It will easily overpower and crush willpower, promises, affirmations, NLP, hypnosis, and most other methods that traders attempt. The trader will struggle until this program is deleted.
* Many more profit destroying programs are listed and explained below.
Like the most dangerous part of an iceberg, these subconscious mind programs remain hidden beneath the surface.
While these programs lurking under the surface are hidden to your conscious mind, when you crash into the iceberg of negative subconscious programing, the jolting damage done to your account is quite visible:
You lose money, suffer wild swings in your account balance, and/or blow up your trading accounts, even though you have a winning method!
By Adil Madanov | 16 December 2020