Change your Words and Change your Trading

Trading Bomb

A few days ago, I randomly picked an old book and I was flipping through it for awhile. Reading through it again – after many years – does make reading it now feel like a whole different experience. In fact, having a better understanding now of what Words can do and how our Mind interprets it seems to suggest that reading this book again can bring about some new Learning.

In case you’re wondering, the book that I’m referring to is “Secrets of the Millionaire Mind” by T.Harv Eker. This is indeed a popular book, especially in the self-help section. Reading through it quickly, one of the first few things that captured my attention was something that Mr Eker mentioned that relates to words. It is the declaration that goes like this:

My inner world creates my outer world

I have a millionaire mind

Mr Eker uses this in his training and he encourages his students to repeat it daily. I must say, from a coaching point of view, it’s a beautiful activity and because you are reading this now, I believe you too should have a go at trying it out.

In case you didn’t realise, that is one way of installing a new habit and the habit that you are installing here are words. And that’s the topic that I want to share today – Change your Words, and using it to Change your Trading.

While having a millionaire mind is great, having the right words in your mind is even better. T.Harv Eker uses this to enhance the belief system of his students but if you understand the mechanism of what he is doing, then you can apply that declaration in trading too.

What Do WORDS Mean to You?

Imaging waking up one morning, feeling good, fresh and ready for an exciting new day. You get ready for work with a smile and, as you leave your house, your not-so-friendly neighbour started screaming at you and blaming you for something that you’re completely innocent to.

neighboursWhen you thought it was just a minor issue, he/she started yelling at you using the F word and other foul languages. And that was it… because that was the turning point, from then on, your day was ruined. The excitement and smile that you had in the morning were completely wiped out. Feeling annoyed all day about the incident, you remained shocked and stayed gloomy for the rest of the day.

Well, have you experienced something similar? Even if you have not, do you think what I’m referring to? I’m sure you know what I’m talking about?

While this is not a common event, it is not uncommon too. However, the thing that amazes me most of the time is how everything can turn around just because of a few words. While the F word is an extreme example, sometimes, even simple but negative connotations can cause a major stir in a person’s mood and emotions. In fact, change a few words and the results of what ever you are trying to achieve can change.

Unfortunately, this is a fact of how things work and also a fact of how our mind works.

Using the Right Words

As you can see, the wrong words can completely spoil your day. Because it works, the opposite is also true – if you are having a bad day, changing your words can improve the situation too.

Well, it’s quite simple how it works. If you want to change from a bad situation to a better (or sometimes to a good) situation, all you need to do is to change your words to something positive.

In case some of you are not convinced? I thought I share following video with you:

(If you can’t see the video, click here to watch it)

What Should You NOT Say When You Trade?

Moving back to the context of trading and you will realise, sooner or later, that the mechanism of the mind works exactly the same way. The mind you have when you are trading compare to when you hear a nasty word will likely create the same effect (unless you learn to overcome it).

Do-Not-Trade

More than that, because your mind is a 5 year old kid (see related article), it cannot take a complex instructions.

For example, do you remember the last time you opened the chart and the first thing you said was “Let’s hope the market is not as rubbish as yesterday”, “The market was torturing me last week, please have mercy” or “I don’t want to lose so much money today.”

While some of the examples above are not complex, they are just not simple enough. Hence, instead of starting your chart analysis with a positive mindset, you are inducing your mind to think of the negative.

If you are still not sure what I’m talking about, then try to remember the example where you were told you NOT to think of the pink elephant (see related article). Did you realise that you first have to think of the image of a pink elephant before you remove away from it.

Remember now? You can see my point now, can you not?

Learn to Accept Words Consciously

So here’s the thing, because every word we say, think or hear are important, you begin to realise how important it is to pick the right words consciously. I deliberately emphasised on the word consciously because, more often than not, out mind dwindles and it can miraculously come out with words in an unconscious manner.

So instead of trying letting the mind wonder, we should learn to lead it – as if you are teaching a 5 year old. Not that I’ve got any children of my own but it’s not hard to figure out that kids need to be reminded how to tie their shoelaces or they’ll let it swing freely. But who’s to blame when they get tangled up and the kid falls with an injury. Don’t think you can blame the kid can you? So instead of waiting for an accident to happen, keep repeating it to the kid consciously and he/she will know what to do after awhile.

The same applies to the mind, you need to constantly remind yourself and learn to only accept positive words when you speak to, think or hear yourself. You need to feed the mind with positive words and to keep feeding it every day until it’s glued to the mind. I suppose this is where Mr Eker’s example of making a declaration is useful. And this is why Mr Eker encourages his student to use declarations every day. In fact, he suggests using them twice a day – one in the morning and another in the evening.

If you want to, you can try saying the following words (or creating your own) every morning:

My words can create my world

I have a winning trader’s mind

By doing it consciously everyday, you can and will begin to see changes.

Conclusion

Some of you might not believe in declarations and that’s absolutely fine. However, if you started off by thinking that it might not work, then, the chances are, it’s not going to work.

And that could be some of the words that you might want to change.

You see, today’s article is not about the declarations, but it is about choosing to use your words consciously especially in the trading environment. A declaration is just a technique used by trainers like T.Havr Eker. In fact, this is very similar to self-hypnosis (which I practice daily) or to meditation that is used by many successful traders.

So, the next time you are about to enter into your trading zone (see related article), make sure to focus on positive words and learn to say the Right words.

 

 

2 Comments

  • levi

    Reply Reply July 11, 2014

    great article

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