Trading Mirrors Life

What is the most important tool in trading?

Often I ask traders this question and the responses I get are varied from winning strategy, or the right charting system. Sometimes sharp traders will answer by saying money management or discipline. I have even been told by one expert that said experience is the most important for a successful trader.  All of those things are an important part in a traders journey to profitability and becoming a professional trader but they are not the most important tool.

The most important thing that you have as a trader is you, yourself. Only you can control whether or not you will fail or succeed. Think about it trading mirrors life and if you fail at most things in your life, then you will fail at trading as well. When most traders fail people will find a reason that is probably not the “Real Reason” that they fail, such as over-trading. Do we actually take the time to look inward, to look at ourselves and what is going on with the rest of our lives? Life is a challenge at every turn and corner. We have to handle the pressures of life, of finding food, shelter, work and building relationships. Are you successful in life or do you let the problems and circumstances of life derail you from having success?

If you do not have control over the small areas of your life where you can regularly achieve victory over the small day to day tasks then what makes you think you will be successful as a trader. Something has to give and you have to break the cycle of failure in your life. If you are not a winner in life you wont be a winner in trading either. My advice is this, stop trading and start working on yourself. Make the little things count be a winner in one area of your life and build on that victory. Keep your work area clean, make a schedule and stick to it or write down a plan with goals and execute it.

The purpose of this article is not to bring you down but rather get you to identify the root problems in your trading failures and work on them. You can do it, only can control the outcome of your life. What a man believes in his heart is what he is. Tell yourself  that you will have success and believe it. When I say tell yourself I mean it. Actually speak the words out loud  “I am A Great Trader and I will be successful, I will make a plan and be disciplined and become a professional.” Also remind yourself that to be successful it takes work and that telling yourself about success without a plan is a fantasy.

The little things are big things because if you can’t master something small, you won’t be able to control something big. So start with improving the small stuff that you have been “meaning” to improve forever and never have gotten around to it. I heard a saying like this find one thing that you like to do and be the best in the world at it.

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