Your post is quite timely. I just wrote in my journal about this topic this morning. Here is what I wrote:
The proper mindset is to have an unshakable belief in one's self. But this belief is not dependent on outcome. In fact, you must let go of the need for a specific outcome. You may desire the outcome and ultimately you need to truly believe you deserve the outcome and that you will eventually get there but you don't need a specific outcome to define who you are. In this state of mind you're free from self-preservation instincts and your ego as there is no fear of failure or embarrassment You just focus on the process of improving and mastering your craft. There is no need to be perfect -- perfection is impossible anyway. When Rickey Henderson struck out, other players often heard him walk back to the dugout saying, "Don't worry, Rickey, you're still the best." And while many folks made fun of his talking about himself in the third person, he was truly a master of the proper mindset which included positive self-talk. Rickey didn't care what others thought of him, and he knew what he needed to do to maintain the proper mindset. Listen to this interview below with MMA fighter, Michael Chandler by Jim Harshaw. Both Michael and Jim talked about how each struggled to get to the top until they let go of the need for the outcome. Michael said he had to come to a point where he didn't care so much and acknowledge that his wins and losses don't define him. He stopped putting pressure on himself. What defines him is trying to become the best version of himself.
The problem with many traders is that they want proof that they will be successful -- so their mindset is always waiting for external validation that they are successful, whether by recognition, profitable trades, etc. True confidence needs to be something that is just a matter-of-fact to you -- that is the way you survive this game. You may need to utilize visualization to develop that level of confidence. Visualize it all, not just the goal but the challenges you will need to overcome in reaching that goal. But see yourself, in your mind, achieving that goal.
So take a different perspective - start believing in the process, stop putting pressure on yourself and have fun with the journey!
http://jimharshawjr.com/99/
The proper mindset is to have an unshakable belief in one's self. But this belief is not dependent on outcome. In fact, you must let go of the need for a specific outcome. You may desire the outcome and ultimately you need to truly believe you deserve the outcome and that you will eventually get there but you don't need a specific outcome to define who you are. In this state of mind you're free from self-preservation instincts and your ego as there is no fear of failure or embarrassment You just focus on the process of improving and mastering your craft. There is no need to be perfect -- perfection is impossible anyway. When Rickey Henderson struck out, other players often heard him walk back to the dugout saying, "Don't worry, Rickey, you're still the best." And while many folks made fun of his talking about himself in the third person, he was truly a master of the proper mindset which included positive self-talk. Rickey didn't care what others thought of him, and he knew what he needed to do to maintain the proper mindset. Listen to this interview below with MMA fighter, Michael Chandler by Jim Harshaw. Both Michael and Jim talked about how each struggled to get to the top until they let go of the need for the outcome. Michael said he had to come to a point where he didn't care so much and acknowledge that his wins and losses don't define him. He stopped putting pressure on himself. What defines him is trying to become the best version of himself.
The problem with many traders is that they want proof that they will be successful -- so their mindset is always waiting for external validation that they are successful, whether by recognition, profitable trades, etc. True confidence needs to be something that is just a matter-of-fact to you -- that is the way you survive this game. You may need to utilize visualization to develop that level of confidence. Visualize it all, not just the goal but the challenges you will need to overcome in reaching that goal. But see yourself, in your mind, achieving that goal.
So take a different perspective - start believing in the process, stop putting pressure on yourself and have fun with the journey!
http://jimharshawjr.com/99/
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