Psychology of Trading – The Four Causes of Self-Sabotage
Have you ever felt like you sabotage yourself sometimes in your trading?
If you’re like most traders, you have and probably on more than one occasion.
One of the really aggravating aspects of self-sabotage is that it’s right in your face.
You know you’re doing it.
You know that you’ll regret it.
It happens anyway, and then yes the regret kicks in. Sometimes anger and and self-chastising come into play as well.
If it was coming from only one source it might be easier to address, but in truth there are four.
And no matter how many months or years experience you have, how great your system is, any one or more of the four can wreak havoc on your trading account.
Bummer.
The good news is that once you become aware of the four sources of self-sabotage, at least then you can take steps to protect yourself from their influence in your trading.
The other nice thing is that you can ease up on yourself a bit. Nothing can take you down faster than a furious session of self-berating.
When you understand what’s going on, then you can be a bit kinder to yourself, which is much more productive.
That’s just one of the reasons that I created the exclusive video, “Four Causes of Self-Sabotage”.
You won’t find it anywhere but at InsideOutTrading.com and it’s not even for sale.
To see how you can get access to it,
Cheers!
Brian
P.S. You’ve heard the saying, “We are often our own worst enemy.” You’ve probably also experienced it in your trading.
Take the first step to ending your self-sabotage right now – it is very costly in terms of capital but more importantly peace of mind and self-esteem.
Trading Psychology Coach Questions and Answers
Brian here and I’ve been getting tons of email from people who are excited about the Trading Psychology Coach, but wanted more info.
I wanted to make sure that I answer the questions for everybody, so just in case you had the same questions, I decided to send you this.
The most common questions I’ve been receiving are:
1. “How do I know this will help ME in my situation?”
Answer: The Trading Psychology Coach is the product of my own experience through the learning curves of becoming a trader, plus I’ve helped hundreds of traders work through a wide variety of issues.
You may feel very isolated at times in your trading and it’s not uncommon for traders to wonder if others are going through what they are.
While everyone is a unique person, the challenges encountered by traders are not uncommon. The path to becoming a consistently profitable trader has common pitfalls, trials and milestones, and the lessons learned are often similar as well, so yes, you are VERY LIKELY to find help for YOU in your situation.
2. “Is the Trading Psychology Coach just for beginners? Or is it only for experienced traders?”
Answer: The Trading Psychology Coach is for traders with at least 2 to 3 months experience. If you’re an absolute rank beginner, you may still be stuck in the mindset that would have you dismissing the lessons and the consequences for ignorance.
3. “Am I being obligated to a long-term arrangement? I have a thing about signing up for anything with recurring billing.”
I can relate to how you feel, but you are safe here.
One of the main reasons that this is a periodical is to give you on-going support for better trading.
I see it all the time where people will spend $4,000 to $7,000 a year for new trading systems or software that only perpetuate the up-down cycle.
Worse than that, they put on their credit card and wind up with a monthly payment in the hundreds of dollars – and little to no results to show for it in their trading.
The Trading Psychology Coach is a small investment with a high return.
Greater consistency is one of its primary functions, along with keeping you on an even keel and providing on-going support for the greatest factors in your results:
…your decision-making and your timing.
These are the mental and emotional aspects that the Trading Psychology Coach is designed to help you with.
If you wait it will cost you…
It is so easy to make costly mistakes or errors in judgment in trading that continuing to trade without thise help is just asking for trouble.
Plus, right now you also have the opportunity to get in at the introductory price and get two special bonuses, but you have to act before this offer comes down.
Cheers!
Brian
Trading Psychology Coach – 22 Days Into It And What Are You Doing?
Forgive me for being so blunt with what I’m about to say…
Are you ready?
It’s now 22 days into 2010…
I’m ready to kick it off with a huge BANG
and I’m feeling a little bit
… FEISTY.
Why?
Because I see so many people sitting around complaining about everything.
“The economy sucks!”
“I lost my job!”
Blah blah blah…
Now as for the complaining, I won’t even get started on that one. That’s for another time.
What I’m here to talk about today is the other half of that sentence:
“I see so many people sitting around complaining about everything.”
I mean, complaining is one thing, but complaining while sitting around on their butt?!
Here’s a clue for them: “Hey how about *doing* something about it?”
I’m sure you know what I’m talking about, otherwise you wouldn’t be on my list and you wouldn’t have read this far.
Heck, some people don’t even have the energy to read a single short email that I send to them, even when they know it might change their life.
Now here’s the real point of what I want to get at today:
We are already 22 days into the new year!
Have you done something amazing to kick off the new year and change the course of your life yet?
If you haven’t, then I suggest you DO something TODAY.
Action is what sets change in motion, not complaining.
Even moreso than that is ACTION IN THE MOMENT.
You are reading this email for a reason, and if you’re reading these words right now, it means that they speak to a certain part of you that recognizes the truth here.
You can choose to carry on with your life and your trading as they are, or you can choose to start the momentum in a different direction.
Hear this: it’s those that take action in the moment that rule the world. If you think about it, the wisdom is obvious.
The grand irony is that once you get in the habit of taking action in the moment, you start an avalanche of success that is nearly unstoppable.
It all starts with that first teeny action:
TODAY, take that first step to put your trading obstacles behind you.
http://insideouttrading.com/go/special/
Cheers!
Brian
P.S. Your actions either reinforce or nullify your beliefs.
Actions are affirmations in motion, so take action right now to affirm consistent success in your trading.
Trading Psychology – “Winners Want the Ball…”
Sometimes inspiration can come from unexpected places.
The other day, my son was watching the movie “The Replacements”, which stars Keanu Reeves and Gene Hackman. In the movie, Gene Hackman is the interim coach of a replacement football team during a player strike, and Keanu Reeves is the quarterback of the team.
During their first game, the defensive players are talking a lot of trash and manage to get inside Keanu’s head. On the last play they put on like they’re going to blitz and Keanu gets nervous. He has a chance to win the game, but at the last second Keanu changes the play – and they lose.
While they’re walking off the field, Gene Hackman is furious, knowing that Keanu got scared when he thought the defense was going to blitz. To put things in perspective for Keanu, he says,
“Winners want the ball when the game is on the line.”
So how does this relatet to trading?
One major factor that separates the winners from the losers is confidence versus doubt. They’re both faced with the same situation, but the winners can overcome their fears and doubts. They have a certain state of mind that they’ve developed that helps them stay focused on the victory, not the possible loss.
Winners want the ball because they know that when the pressure is on, and only bold and confident action is what will result in a win. Shaking with fear means certain loss.
Football, golf, soccer, sports in general, business, trading, etc all have one thing in common – they are 90% mental. Skills, experience, knowledge, strategy, etc are all secondary to your state of mind – because your performance and your results all depend on your decision making and timing.
So while it is tempting to let your focus be drawn to the latest fad in the technical areas, remember that nothing will do you any good unless you can keep your cool and trade well when the pressure is on – and it’s always on.
Cheers
Brian
P.S. Keep your eyes peeled for a very special introduction to the new publication designed specifically to keep you at the top of your game!