Trading Psychology – Beliefs

Beliefs are HUGE when it comes to trading

…because your beliefs guide and limit what you think, say and do

If you've been struggling with trading for a while, and because of that, you now believe, at least on some level, that you're destined to struggle with your trading for the foreseeable future, then that's where your thoughts will go, along with your attention

Your subconscious will look for evidence to support that belief and also do what it can to create circumstances to reinforce that belief

Even if consciously you say you want to get your trading working and you want to be making the kind of money from your trading you know is possible,

Your subconscious will do everything it can, including sabotaging your efforts, to make sure your external reality is congruent with your beliefs

That's why you can be sitting there, knowing full well what you're supposed to do, but NOT doing it like

• seeing your signal to enter the trade, but not doing it
• knowing it's time to exit the trade, but you decide you're going to ‘let it ride'
• placing your stops, but deciding that “this time, I'll keep an eye on things”

…or doing things you know you're NOT supposed to, like

• entering a trade before the set up is complete
• chasing a trade because you screwed the last one up and now you want to make up for it or get revenge because you feel hurt and mad
• getting out of a trade before you're supposed to, just because you're nervous, only to watch it continue to run

You see, the above mistakes and many others are often your subconscious sabotaging you.

You're fully aware of what's going on, but ‘unable' to do what you consciously know you're supposed to

It's simply your subconscious making sure that you don't have any success that it deems is out of alignment with your beliefs

So… what can you do if this is the case?

Well obviously you need to change your beliefs.

The challenge then becomes identifying the particular problematic beliefs and then HOW to change them in a way that is effective, efficient and permanent

Tomorrow we'll look at one specific belief that right now is holding you back – and what you can do to finally move past it and start realizing substantial progress in your trading

Cheers

Brian McAboy
The Trading Consistency Coach