How do you know if you’re really cut out to be a professional trader? That is, a trader who makes a living by trading the markets. What makes you think you’re any different from the other 95% of traders that lose money and quit?
I’ll give you the answer right now if you like. You don’t even have to read the rest of the post if you don’t want to, but you might not get it if you don’t.
The answer is that it’s your nature and, by that, I mean the combination of everything that makes up you, including (and especially) the most important aspect of all; the key to everything in life; your mind. Your mind will be the difference.
How do I know that? Because you’re right here reading this and if you didn’t really want to be a trader with every fiber of your being, you certainly wouldn’t go out of your way to read my blog. That’s what’s going to separate you from the people who lose and end up quitting.
But, before we get swept away in a free-love type scenario where we celebrate each other’s minds, Dude, I want to take a little step back so that this doesn’t just sound like esoteric nonsense.
It’s likely that almost all of the failed traders had similar mindsets to your own. This means you need to ask yourself again, what makes you any different? How will you succeed where others have tried and failed?
To understand how you will be different, we need to go back to that word again, mind. I call it the key to everything in your life because it really is.
You see, in all the different guises my own life has taken, there has always been one great concept that permeated each and every one of them. Admittedly, I didn’t know it at the time but ‘now that I see,‘….I can say quite honestly that that one great concept is the very same thing that Napolean Hill so lucidly wrote of in his book ‘Think and Grow Rich‘ (which is an excellent read by the way):
“Whatever the mind can conceive and believe, the mind can achieve.”
I read Think and Grow Rich a few years before I started studying taoist philosophy; back when I was more interested in creating businesses and money and buying houses and cars, rather than just being happy, and although the idea of [positive] thinking made sense, I never quite ‘got it’ until quite recently and I’m betting you don’t really get it either. You’ll probably understand what it’s trying to convey, but I bet you don’t get it, really get it.
Let’s face it, it’s not like you can sit at your trading screen, fingers crossed, rocking back and forth in your seat willing the price to move in your favour with your mind whilst you chant under your breath, ‘it has to go that way, it has to, it just has to, go on, it makes perfect sense’ over and over again.
No, it doesn’t work like that and that’s not what I mean by the ‘power of your mind’. So what exactly do I mean and how could it possibly help you make a living trading the markets?
How Your Mind Will Make You The Trader You Want to Be
To bring it into context, on the one hand; you have successful businessmen, athletes and professionals who will tell you similar stories of how they finally achieved ‘success’. Their stories go something like this; “I never gave up”, “I never took no for an answer,” “I was determined that nothing was going to stop me,” “I kept getting knocked down and I just kept getting back up and trying again,” “I lived, breathed and ate what I wanted to become,” and so on and so forth.
And on the other hand, you have people practicing simpler paths, where the persuit of a spiritual or creative interest is more desirable than a high-powered ‘career’. This doesn’t mean they persue their goals with less enthusiasm than the professional. On the contrary, they approach their own path with just the same level of enthusiastic gusto as a hot-shot athlete or city slicker does but what’s really fascinating is that to be a ‘success’ on either path, it all needs to start in your mind.
“Make a choice. Just decide. What’s it going to be, who you’re going to be, how you’re going to do it. Just decide. And from that point, the universe is going to get out of your way.” – Will Smith
To test this theory out, just do a search online for success quotes and you will find that when you strip away the words from the meaning, they all depend on your mind both declaring and guiding your intent to the universe. Now, before you shut down this page because you’re starting to feel a bit weird about reading more ‘mind over matter’ mumbo jumbo, take a few minutes to watch the video below.
Will Smith’s quote is my favourite, but if you look for it, you’ll hear the same message in each.
For me, there are some pretty distasteful images of wealth in the video, but what I do hope you’ll see (and begin to understand) is that each example of success in the video began with an idea. A thought. Your thoughts are your own and no-one can steal them from you. There are no limits to your thoughts but the ones you impose on yourself, and once you believe in your thoughts and decide with utter completeness that you will accomplish them, you will no longer be part of the 95% of traders that lose money and end up quitting.
You might lose money, but you will make a living trading the markets.