Want to be a better Trader? Improve Your Trading Psychology!
by Mercedes Oestermann van Essen
In over 15 years of trading and coaching traders I am still surprised how little attention even professional traders give to their trading psychology. Even though the evidence that your trading psychology is the driving force behind lasting trading success is overwhelming, most traders still regard it as a luxury.
Yet, research from neuro scientists gives us clear proof: If you want to become a better trader you must improve your trading psychology
Until 15 years or so ago neuro science believed that our brains are fixed. Neuro scientists believed that you are born with certain characteristics which are difficult to change and require extremely hard work.
Very recently the discovery was made that our DNA is NOT fixed. We can change our DNA simply by changing the way we speak to ourselves and to others. The scientist Bruce Lipton has done extensive work on what he calls: “The power of belief.”
The wisdom traditions have taught for thousands of years that with our thoughts we make our world, and within each of us there is the entire blue print of the universe. Quantum physics is radically changing how we see ourselves and the world today.
New research emerges almost daily that attests to the fact that humans are much more capable of change than traditionally believed.
Yet, the average trader thinks that he or she becomes a better trader by working hard on their trading system because they have many flaws which are difficult to overcome.
Wrong: Your trading results are the effect of incorrect focus, they are not the cause.
The reason that your trading isn’t showing consistent progress is because you are focusing on the wrong things. Working on your trading system alone is akin to putting a plaster over a festering wound. The real cause of your difficulty remains unaddressed.
For example: If you have unresolved value conflicts, like most people, you won’t improve your trading until these are resolved.
Why? Because a positive and a negative thought cancel each other out. In other words: If you believe you can be a great trader but also have a subconscious belief that you are not good enough, and you fear losing money the two beliefs cancel each other out. You get at best sporadic success.
How many traders have a good week, or even a good month only to find that they give their hard earned profits back within a few bad trading days?
I have worked with countless traders who have had this problem. The issue is always about conflicting beliefs, or value conflicts.
You have been programmed to believe in failure, instead of success.
Our conditioning has made us very defensive. We believe that we have many negative characteristics which must be overcome. You believe trading is hard, or tough and that the markets are out to get you. You treat the markets like something you have to work against, rather than learning how to align with them.
Life is an obstacle course. You think that you get brownie points for overcoming your struggles, rather than learning techniques to become quiet and become more self aware.
Trading success begins in your mind. Improve your trading psychology if you want to trade with more ease and above all have more joy participating in the game.
The only real issue you face on the path to becoming a consistently successful trader is with your inner self and you can change your inner self with a little guidance.