One of the biggest challenges as students learn to trade is staying motivated and positive. Feeling like a victim or justifying your own trading errors on other factors is nothing but egos playing up and brains trying to drag you back into the “comfort zone”.
Learning to trade successfully requires a resilience and stubbornness that few people are willing to endure. This process however is necessary because it ultimately creates an identity shift. Remember that sometimes when things are falling apart, they’re falling into place.
Changing your entire career to a new environment such as trading, which by default requires you to accept uncertainty and to let go of the past, is probably the toughest thing you’ll ever do.
Rising above the “norm” is never easy. Sometimes I have days when I don’t feel like getting out of bed and looking at the markets. However this is my JOB.
As a professional, I have to do my job, regardless of whether I FEEL like it or not. If I only traded when I FEEL like it or if I only exercised when I FEEL like it, I would never achieve anything. Be a doer, not a victim. You and you alone have the power to shift your mind into positivity.
It’s easy staying positive and motivated when things are going right. The challenge is to stay positive and motivated, believing in yourself, even after you’ve messed up a few times and found yourself in a drawdown. Because if you have a mission, a goal that you’re heading towards in your mind, your passion and DRIVE should be enough to shake off the current psychological discomfort and get back on the horse.
Ultimately, success comes to those who don’t give up. No one casually strolls into long-term profitability without going through emotional pain. It’s how you decide to deal with this pain is the difference between failure and ultimate success.
If you want something bad enough, your brain will find a way to get it for you, if you stick with the goal long enough. You have to work hard, analyse your performance, pick yourself apart, do better next trade, do exercise to deal with stress, re-analyse, review review review.
Look for patterns in your own previous performance – analytical nature is of pivotal importance in trading. Write down everything, from stoploss sizes used, to trade durations, track market movements even when you’re not in a trade yourself, write about how you felt. This will become an invaluable journal on your path to becoming a successful trader.
If it was easy, everyone would be a trader.
If you persist, you will be a part of an elite group of humans who have the discipline to stick to a goal for years, in order to live the life they really want.