Genuine change starts with self-honesty

Yet trading is one of the most tempting activities for lying to yourself.

I know that when I started out, I didn't count the six-figure educational material I accumulated for trading as part of the business.

If anything, I blew 5k accounts, and I wanted a fresh start each time.

It isn't just the need to reduce the pain of being a constant loser or the ease with which one can cheat since most traders sit behind a computer and are accountable only to themselves.

No, this rabbit hole goes much deeper.

It is this dilemma that money has a lousy trail of negative connotations attributed to it.

Money is dirty

Money doesn't grow on trees

Hold onto your wallet. You might lose it.

I could write a long list, and when you do this yourself, you will find that all of these generalized statements we grow up with are fear-based and carry low-frequency energies.

And again, that's not all there is. There is also a generational overleaf.

Born in the mid-60s, I was a child of the post-war generation.

I was taught that you will succeed if you apply yourself, ideally with a good school education.

And hey, while true to that generation, after all, after a war when all is in ruins, it is true that everything flourishes under some great efforts no matter what field or niche.

In the next generation, it was all about being a specialist, but what about when development got faster? That quickly made a carburetor specialist out of work when fuel injection came to the market.

In short, the lack of a proper education in school about money principles and the fact that this universe and planet are built on abundance principles hinders us from being honest about our initial trading results.

Unfortunately, without that honesty, no success is possible since one needs to accurately measure one's failures to evolve and learn from them to step into a more prosperous future.

Here are a few building blocks supporting this honest rapport: Be persistent and understand the journey to develop an edge is lengthy.

Recognize your advantage and build your trading approach around it.

Havie a passion for trading to endure challenging times.

Focus on minimizing risk, allowing profits to naturally follow.

Learn from mistakes by analyzing them thoroughly and integrating lessons into your strategy.

Exhibit determination, overcoming setbacks with a positive outlook.

Constantly seek ways to enhance their performance.

You must be adaptable with the changing risk/reward dynamics, often adjusting positions as market conditions shift to avoid overconfidence.

Learn from failures as lessons on the road to success.

Prioritize clear strategy over certainty, always prepare for potential market deviations and trade opportunities based on their current merit.

Understanding that each trade stands alone helps in executing without hesitation.

Personalized trading rules include monitoring signals for potential misalignment with the market, such as significant single-day losses or emotional cues like FOMO and frustration.

Exercise patience for the right trades, prepared to respond swiftly when they arise.

Diligently manage potential losses to safeguard capital.

Focus on personal strengths, envision peak trading scenarios and avoid detrimental actions.

It's crucial to excel in your strengths, implying utilizing your unique skill set.

Seek out trades with favorable asymmetric return/risk profiles.

Recognize good trade characteristics and act decisively.

Keep comprehensive trading records and journals to identify and adjust their strengths and weaknesses.

We need to keep things in balance because any extreme stance, even the most well-intended, will backfire in trading with certainty.

Meaning years of proctology(daily self-reflection) can also get you into a dark place.

It is self-confidence, though, that we need for proper execution skills and focus.

here are a few building blocks to keep your self-confidence in a healthy shape:

Engage with Supportive Communities:

Involve yourself in groups that align with your goals and provide encouragement.

Monitor Your Focus:

Stay alert to any resurgence of outdated beliefs

Follow Proven Strategies:

Adopt established methods instead of relying solely on experimentation.

Empower Your Strengths:

Concentrate on leveraging your strengths rather than fixing weaknesses.

Remember Your Motivation:

Keep in mind the original reasons driving your ambitions.

Welcome Change and Innovation:

Do not fear change; embrace new ideas and approaches.

Envision Your Future:

Clearly define your aspirational future and visualize it consistently.

Remember, as humans, we greatly overestimate what we can achieve in a relatively short period of time

yet we also greatly underestimate what we are able to move into our favor when it comes to larger time frames