Trading Mindset: Trading Success Is Possible

Trading Is possible

Hello Successful Traders. Yes, I was referring to you (in case you are wondering). Not sure if you deserve it? Of course you deserve it. Well, think about it, you are browsing the articles on TradeYourEdge website, are you not? At some point in the past or future, you are thinking about trading for a living, are you not? And, the fact that you’re reading this article now, you are already making that small but important effort towards becoming a successful trader one day, are you not?

You see, while we all know that trading can be challenging, you also need to be aware that having a positive and realistic mindset is important for your success. Hence, I was genuine and honest when I was referring to you as a successful trader. Also, I truly belief that you can become successful. But that is provided that you must acknowledge and practice that (mindset) too sooner or later.

I completely understand that some people might find it more challenging than others to have this trading success mindset. Thus, today’s article it about learning that is it possible to becoming successful. Once you know that it is possible, you can use that as a stepping stone to consciously practice having an unconscious positive mindset. Anyway, if you are interested, do read on.

Deciding That It’s Possible Is a CHOICE

It does not matter what you had (or have not had) in the past because you need to first realise that it is possible to get back to be successful no matter where you are now. Also, always remember that the market is still open tomorrow and there are a lot more opportunities to come.

Above and beyond that, knowing that it is possible is only one part of the equation, you must realise that it is a choice that you can make. At the start of this article, I greeted you as a successful trader. However, it is up to you to decide and accept that it is possible to be a successful trader, then acknowledge that I was greeting you as the successful trader one day now. In other words, you have the choice to decide if you want to have a positive mindset or not.

Once you get that, make sure to practice it – yes, you can practice accepting that it is possible to start afresh. If you practice it enough, that mindset becomes a habit.

However, do not take things for granted, instead, start to focus on what you really want – focus on getting back on track and focus on getting the right tools. In fact, some of you should also focus on learning what to focus, so that, by focusing on the right thing will help you become successful.

Also, once you’ve decided, then you’ll realise that everything in front of you are only small obstacles, all you need now is to remove those obstacles and the path to success will become clearer.

There is ONLY Feedback

Trading FeedbackThe next thing you need to learn about having a positive mind is that you will incur lots of disappointments. This is a fact and many successful traders have gone through the pain of failure and they all know that it is going to be hard work. So if you want to become successful too, then you need to acknowledge and accept it.

Now, once you have acknowledged and accepted this, I want you to lock it and now put it aside so that you can focus on something that is much more important, and that is – there is always something that you will learn. That’s right, no matter what trading challenges you may face and what set backs that you may have, there is always something that you can learn from those challenging moments. So focus on the learning and you will always be ready to get back up to climb higher after the fall. You will come to learn of things that you don’t know right now and then you will grow towards getting better.

As Les Brown puts it, “When life knocks you down, try to land on your back. Because if you can look up, you can get up.

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Be Very Damn CLEAR Why You Want It

I hope I didn’t offend anyone because I am going to very brutal about this – if you want to become successful, be very clear what you want and why you want it.

For example, my old coach once told me that he had a student, who was a plumber and was working really hard to become successful. In fact, he turned his trading into a successful career in a short span of time. It was later on that my coach found out that the student has had a huge desire to leave the plumbing career because his knees were killing him (due to the nature of his work). And all he wanted was to find a better job so that he can remain physically fit and able so that he can spend time playing with his new born daughter.

Note: I can’t remember the exact details of the story but I believe you got the gist of it.  

If you want to be successful too, then by the end of today, go list down what you want from trading and 5 reasons why you deserve to become successful.

The truth is this, if you know what you want and have a very clear reason of why you should have it, this will trump the 2 points that I mentioned above. In fact, if you practice all the points I mentioned today, you will most definitely achieve your goals.

Conclusion

Working towards Trading SuccessBecoming a successful trader is absolutely possible. Because it is a choice, then you must decide to take it up and make full use of it by accepting that it is, and then learning from every mistake that you may have so that you can propel yourself forward knowing very clearly why you deserve it.

Thank you for reading and if you have any relevant experiences on this topic, please feel free to share it in the box below.

 

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2 Comments

  • Andy B

    Reply Reply March 14, 2014

    Great article Alwin, knowing why you want to be a successful trader really helps with discipline to only execute when your edge is clear.

    To many traders spend time trying to learn about markets when they should be focused on their own psychcology as the real answers lie within themselves. Learning patience is the true hard work that you speak of.

    • Alwin Ng

      Alwin Ng

      Reply Reply March 14, 2014

      Self discovery is more important than market discovery.. Well said Andy.. 🙂

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