Okay, okay, I know, I’ve heard it too – all the modern pseudo pop-psychology of ‘The Power of Positive Thought’, ‘Attitude is Everything’, the ‘Law of Attraction’, etc. Aren’t we all getting just a little bit tired of all the clichés? I mean, it can’t all be true, can it?
Well what if it is? All of it. And what if it’s the one thing that is keeping you from where you want to be; maybe in your trading, personal small business, career, personal finance – you name it.
As it turns out, more winning athletes, entrepreneurs, political figures, and other notorious characters that I can shake a stick at, have at one time or another referenced their mindset as a key attribute in the success that they have accomplished.
If all of these people who have at least financially achieved a status that most of us would aspire to reach, were to openly suggest that this may be a key part of their success, why oh why, must we roll our eyes at the idea of doing such a thing ourselves?
I read that Muhammed Ali once said, “It’s the repetition of affirmations that leads to belief. And once that belief becomes a deep conviction, things begin to happen.”
Admittedly, I’ve always had mixed feelings about affirmations. Part of me felt like there was obvious truth to it, and the other part of me felt that it was redundant and dishonest.
However, I trained in a gym with high level athletes for years. During that time, even though I personally had a fairly high level of fitness, I had generally plateaued. Now it’s not what you are thinking, one of these stories where I was actually reading Vogue on the treadmill and texting on the weight bench and calling it hard work. No, this was something else. One day I thought about the type of (affirmation) dialogue I was having with myself repeatedly: “This is going to suck’”, “Ahh this workout is so gnarly”, “I’m about to get wrecked”.
There wasn’t much positivity in my dialogue. In February of 2015 I decided that I had to change the voices in my head (fun, huh?). I decided then and there that the outcome of every workout was going to be deemed awesome no matter what. Anytime I was going to do, or was doing, a very large effort in the gym, I repeated to myself, “this is going to be so good”, “I’m about to gain so much fitness”, “I love working out”.
So what happened? In the next 6 months I PR’d every movement we focused on in the gym. Seriously—all of them! Max pull-ups, deadlift, bench press, pushups, 2K row, bw in calories for time, 10min air-dyne test. Was there a correlation? Undeniably so.
So what does my fitness have to do with your trading you ask? Well, once you’ve been around the FOREX market for a while, the price action of the market itself is relatively simple. It either goes up, or down, and always for good reason. So why is it that some people interact so well with it and get rich, and others can’t seem to figure out up from down and blow up their accounts?
If you saying things like, “I got into this trade, so of course it went the other way”, “I suck at this”, “You’re such an idiot”, “This whole thing is a hoax”, “Is this ever going to be viable?”, “I’m not very good at this”… well you are, as Muhammed Ali would say, one of those people who are repeatedly affirming their thoughts into a belief, which is ultimately becoming a deep conviction and will inevitably happen.
Let me ask you this, how long would you hang out with somebody that was telling you all of those things? Not very long, I would hope. So instead, try this on for size.
‘I’m becoming a world class trader.’ ‘I’m getting it more and more every day.’ ‘I’m a great learner.’ ‘My account is starting to grow exponentially.’ ‘Trading is the hottest thing since sliced bread.’
Now of course, saying all of the right things probably won’t do much for you if you are already doing the right things like showing up consistently with a great attitude, continuously studying your fx365i virtual classroom, keeping accurate and thorough records of every trade you make, taking screenshots of your own trades and reviewing them weekly. However, if you aren’t doing all of those things, this might be the missing link.
Lastly, what is it that you are visualizing? How often are you imagining what it’s going to feel like to open up your trading station and have a six-figure account balance? How often are you imagining what your perfect trade setup would look like, and what it would be like to be in that trade? How often are you visualizing what it’s going to be like to close out a trade for five figures in profit? How often are you visualizing what your monthly account draw from your trading account to your bank account is going to look like?
If you are thinking, wow that sounds like a lot to do, I ask you this: How much thought do you think Muhammed Ali gave boxing? And if that’s not enough motivation for you, remember, Michael Jordan didn’t make his high school basketball team.