Mindset...A vital key to success in trading and in life!
Why?
Well first let me say that I am neither a psychologist nor a psychiatrist but I am reflecting on my personal experiences in hope that I can pass down my lessons learned so that you can better yourself and reach your potential. Mindset is only part of success but is a vital key because it helps to train you to have discipline which both go hand in hand and together, they can have very strong effects on you ability to achieve the goals that you want.
You mindset has to be just like the picture shows...Let's go! You can't have excuses. Excuses are blocks that get in the way of you reaching your potential. And the saying is true that excuses are like #?!*%$, everyone has one! So why use them? Ask yourself what is more important....your goals or that TV show you want to watch.
I get asked a lot of questions but one question is how do you stay focused all the time? It is easy...what is more important? I would rather struggle now so I can live how I want later. Late nights, early mornings, multiple projects, etc. But in order to have the right mindset, you MUST have discipline. Without discipline, you might have good productive days but the other days just plain lazy takes over.
Now, I do agree that you must have a balance in life. Otherwise, you will get burned out and ultimately fail. That is not the point. When I say a balance, I mean you must have time to relax and recharge. So every week make sure you have time to do so, whether it is getting in a game of golf, traveling with your significant other to some place, going to the beach etc. For me, I hit the gym everyday to keep my mind fresh and body healthy but the weekend specifically started, I always have a few hours to relax with my girl and do things together whether we are hanging with friends or just chilling out on the porch.
When you trade, make sure you are mentally ready to do so. Have you been disciplined in your prep work? Have you made sure you are ready to do so with out any distractions? Have you review your charts and planned your trades so you can trade your plan? But with out having the discipline to do the work, you can't have a solid mindset because then you will say, I didn't do my homework. I'm not ready. I'm too tired. ETC!
So do you want success? I'll answer for you...Of course you do! So stop wasting time..be discipline in your life so you can have the right mindset and now LET'S GO!!!! You must have both discipline and the right mindset to be succesful but you won't get success without having both the right mindset and discipline. So happy trading and get those pips!
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