WHAT IS YOUR BIGGEST PROBLEM IN TRADING AND WHY YOU STILL DON’T EARN MONEY FROM MARKET
EVEN IF YOU KNOW HUNDRED STRATEGIES?
1. What are you doing wrong?
One of the most famous traders in my country said that the hardest thing to learn is to open positions and tie your hands together so as not to touch the trades and wait for take profit.
We are not evolutionarily prepared for trading. On the contrary. We keep losses too long, profits too short. And we should do the opposite.
Answer the following questions. Are You make some mistakes below?
¨ breaking your own trading rules
¨ grid
¨ overtrading
¨ revenge trading
¨ entering too fast
¨ entering too late
¨ entering without a checklist
¨ overthinking
¨ over analysis
¨ many transactions at once,
¨ lack of focus
¨ you are overwhelmed with knowledge of many strategies and this knowledge is confusing you
If you make these mistakes, you run the risk of losing your capital. This is obvious. But it is not obvious how to get out of it.
There is
one reasonaspiring traders do these mistakes, and that is because they
do not stick to the rules of trading.
· Rules that should be written down in your trading plan.
· Rules that they have set out on their checklist that checks the market conditions before they open a trade.
· Rules that they had previously made for themselves and promised to keep them.
So, the answer is simple. You may know many strategies. You may be very knowledgeable about trading. However, you are losing money because you don't stick to the rules.
2. What's the fastest path to forex bankruptcy? A quick shortcut in a few, simple steps.
What you are doing today will affect you in a year. What you don't do today will affect you in a year. If you don't stick to the checklist today, it will have an impact on how much money you will lose over the next year.
As you lose money, you start to fear the market. What is fear? Usually, it is a lack of self-confidence. Kamila Rowińska talked about it beautifully during an online conference in 2016.
The lecture is not about trading. But it's about fear, about losing, about failing yourself. She perfectly figured out these topics in the context of every life activity that a person undertakes: sport, business, self-development, the desire to achieve something. This psychology also successfully applies to another activity that you and I like. For trading.
FEAR.
Let's see how Kamila figured out the nature of fear:
“You're afraid when you don't trust yourself. And when do you not trust yourself? You don't trust yourself when you fail yourself. When you regularly fail yourself. When you let yourself down in little things every day, it goes down, your confidence in yourself goes down. And FEAR grows.”
Now you see the fear arise in your head.
What kind of fear we have in trading?
· FEAR of loss,
· FEAR that the price will turn back,
· FEAR that it will not touch take profit,
· FEAR that you have made a mistake in the analysis, etc.
DISAPPOINTINGYOURSELF.
If you do not take responsibility for your actions at the right moment, it will only get worse...
“When
you disappoint yourself every day because you promise yourself that you will wake up at six tomorrow (I'll get up at six because I deserve it and I want to get up at six, I have to do a lot of important things, I care about it), and five past six you set the alarm clock for another fifteen minutes, then you get up at eight and say:
I knew I was just sucked and I wouldn't get up at six. Then you fail yourself.”
Harv Eker explains it in a similar way in his Millionaire Mind seminar:
“How You do anything is how You do everything.”.
The meaning of this is just as you do little things, so you will do big things.
In other words, if you fail yourself in the little things every day, don't think that you will be successful in the bigger and the big ones. No, no, no. It does not work like that.
First you need to learn to implement the little things effectively. Only then can you get bigger. If you start with the bigger ones right away and you screw up on the little ones, guess what? You will fail again. You will be disappointed again. You will reassure yourself that you are useless.
It is similar in trading. If you are thinking to yourself today: I am trading small capital so I will not follow the rules of the game. When I will make money, I will start using checklists and maybe even write a trading plan. This kind of thinking is a straightforward path to failure and burnout of subsequent trading accounts.
Until you take it STOP! Until you take responsibility for your little and bigger deeds, you'll keep making the same mistakes over and over again. And you might even wonder why you're failing.
RESPONSIBILITY.
You need to start trading as a business. Take responsibility for your actions.
We come back to Kamila:
“However, it is only your decision. It's not that God created you like that, and Rowińska created one that just gets up at six and is happy right away. Not. I also have to do some work on myself to get up at six with a smile. It's the same for every other person I know.
You fail yourself every day. If you promise yourself that you will not smoke from tomorrow or today, and then start over, you are failing yourself.”
Tony Robbins said in his seminar that every change starts with one simple thing,
DECISION. Until you take it up, no positive change will happen in your life. And you can't make this decision partially, no, maybe, maybe, will, maybe. NOT.
Just like you can't just be a little pregnant. You are either pregnant or not. We have a zero-one system here. No grey area.
We'll come back to that topic later, because meanwhile, we have another curiosity that Kamila talks about. It is about not failing others.
WHY DO YOU FAIL YOURSELF BUT YOU DON'T FAILE OTHERS?
„You rarely fail other people, but failing yourself comes very easily. That is why you are very often able to trust other people and believe in their abilities, but you rarely believe in your abilities. Just because you are failing yourself.”
So, you cannot fail others, but you have a problem not to fail yourself. It's like trusting other people more, enjoying what other people achieve than with what you want to do for yourself.
So, notice another thing. If you fail yourself, you don't disappoint others, your self-love also diminishes. And you help others only because you put yourself lower, you do not believe in yourself so strongly. Each person is worth more to you. So again, it's a decline in self-esteem.
ULTIMATE FALL TO THE BOTTOM.
Meanwhile, Kamila comes to the final thrust. Quote:
·
You will disappoint yourself with your health,
·
You will disappoint yourself with your business,
·
You will disappoint yourself with your relationships,
·
In the context of how you are to your children.
HOW TO CONSTANTLY NOT BE PROFITABLE?
Now answer the question: How do you learn to make consistent profits by continuing to do what belongs to you in trading? Here's a tip from Kamila that shows what happens when you fail yourself and can't be
consistent:
„
And when you fail yourself so much every day, if you are a parent, I want you to know that they are watching it. If you are a parent and you want to teach your children to be consistent, and you want them to be consistent and tell them it is important, and at the same time you have been quitting smoking for a hundred years and you cannot quit, they are watching it. You are the greatest role model for them. The greatest authority.
But it's not what you say that matters, but what you do.”
Children are just watching what you are doing. They can't see what you say you'll do.
I next:
“
So, if you keep failing yourself over and over again:
·
by eating unhealthy things
·
you can't get up and go for a run
·
you can't take care of yourself
·
you go on a diet for another year and you cannot go on it,
·
you haven't asked for a raise for another year
·
you wanted to learn a new language
·
you wanted to work more on yourself, that you will do more
·
you wanted to write a book because you always dreamed about it ...
And so, you fail yourself all the time, you fail, it automatically lowers your self-concept. Your conviction that you are able to do anything diminishes.”
WHEN YOU HIT THE BOTTOM, BECAUSE YOU HAVE FAILED YOURSELF ALL YOUR LIFE …
Winston Churchill has NEVER combined failures into one chain. He was able to go from one failure to the next without losing his enthusiasm.
If you lose on the stock market, If you smoke more accounts and treat it personally, you are gone. If you are equating your losing streak at forex with yourself as a person, this is a sure way to end the game badly.
Let's summarize quickly. When you disappoint yourself they decrease:
• Self-confidence
• Self-love
• Self-esteem
• Feel personal effectiveness
• Your self-concept is declining
• Your conviction about the fact that you are able to do (learned helplessness) is diminishing
• Your self-confidence is declining
NON-OPERATIONAL.
Many bad things happen when you fail yourself. But it doesn't stop there. It could be even worse. So let's see what happens when everything has waned for you and your self-confidence has gone downhill?
Kamila continues:
„And when you don't believe you can do anything, then ....
YOU DO NOT DO ANYTHING.”
This is the deepest bottom. Mariana Trench. Psychologists call this
learned helplessness. It is created through a series of failures.
„ This you say: this is for others. I will not do this. I was already born like that. This is who I am: just sucks.”.
This is how the path of candidate traders ends. Some quit trading after a month, others after a year. Others even fight for three years and finally leave.
They justify themselves to their friends that the trade is a gamble, the market is non-divisible, so you can't make assumptions and you can't implement any strategy because it just doesn't work. There are no rules, there is chaos. So there is no way to gain an edge in the market.
3. What do you need to doing right things?
Kamila presents steps to reverse the situation and bounce off the bottom:
“
You know you deserve more in your life.
You know you were born to make your life a masterpiece.
So that you can enter the master level in those areas that you need. Which are important to you.”
So you've read this chapter and you already know that you need:
• Take responsibility for your life
• Live in accordance with life values
• Begin with small steps to build your Personal Effectiveness
• Decide to become a master in the areas that interest you
• Understand that you are a person of value and do not need evidence or reasons for this. You are simply a child of God, therefore you are important to the world. Be important to yourself as well.
4. Lesson #1: How to get it?
If you have gone through a lot of suffering, you have had many failures behind you and you behave as described by Kamila, it may seem to you that there is no way out of this black hole. Maybe you think that you will never win the market again. Maybe you think it is worth ending this unequal battle with the market, because market always wins.
Maybe even you are now expecting a response from my side, what to do?
Unfortunately, there is no answer to the question of what you should do. Why? Because only you can decide what to do next.
However, at the very end of this chapter, I have a few sentences from Kamila, which may make you regain your energy to act and get on the path in which you turn from a candidate for a trader to a professional trader.
So, let's see how it will affect you.
“The only thing that has to happen is you have to make a decision. You only need to choose those life values that are important to you. You have to choose to act responsibly. Just like all other people who behave responsibly. Just like all other people who reach the level of mastery in this.”.
So, we go back to Tony Robbins and the
need to make a decision. Every change begins with making a decision. This is the first thing you should do.
But what decision will you ask?
• Decide, do you want to become a champion in trading?
• Do you want to follow your life values?
You make the decision to
live responsibly. You take responsibility for your
past failures. You are responsible for the burned accounts. Not the market. You take responsibility for your
future. You will
work to become a champion. Professional Trader.
What's the next step?
The next step is to take a
small step that needs to be taken to get on this path to mastery in the field you love. I assume you love trading as much as I do.
A little honey to your heart:
“You know you deserve more in your life.
You know you were born to make your life a masterpiece.
So that you can enter the master level in those areas that you need. Which are important to you.
The only thing that has to happen is you have to make a decision. You only need to choose those life values that are important to you. You have to choose to act responsibly. Just like all other people who behave responsibly. Just like all other people who reach the level of mastery in this.
When you get rid of all your excuses.
When you allow yourself to make mistakes and go step by step, step by step, every day with small bites, then you will not even notice and you will find yourself in the place you dreamed of”.
Finally, Kamila sends a wish to the viewers of the Conference. I join the following words. They're aimed at you right now, reader.
“And that's what I wish you. I wish you to get to the point you really deserve.”.
There are many people in the world who just don't believe in themselves. Then, by wailing themselves, they make sure they're worthless. The truth, however, is different.
Each of us has value, huge and immeasurable. And it's only because he was born. No other reason is needed. Life can be great. Life is for living beautifully. Experiencing both sadness and joy. Mourning and birth. Life is not just a set of orgasms. Life is experiencing everything. That's what we're here on earth for. To experience.
If you are experiencing failures now, know that they do not define you. You are not your failures. You are not a series of burnt ashes of your trading accounts. You are the soul dressed in an earth body so that you can experience various emotions with this body on this planet.
Now it's up to you what to do next. Make the best decisions for you.
If you decide to read on, then I invite you to the next chapter.
SUMMARY & YOUR HOMEWORK.
Think about those topics and write down answers.
• Think how You can take responsibility for your life?
• List the life values you want to follow
• What three smallest steps can you take this week to start building your Personal Effectiveness?
• Make a decision to become a master in the fields that interest you
• Consider the following sentence. Feel into them.
I am a consciousness / soul and I have a constant, immense value regardless of everything.
