Or rather, how to get a trading head.
You hear people talk about ‘mindset.’ It is discussed and used so often that I fear we have become ignorant to what it actually means and more over what the effects are. So, I am going to give you the best example that I can recall.
A family member of mine was a city trader, not just any city trader but an absolute trail blazer. He earned a fortune at his job due to bonus after bonus related to performance. Then he decided to pack in the rat race and trade for himself from home. Thats when it all went wrong for him. He couldn’t do it. While he was sat at his desk in the city trading the ‘funds’ money he was detached from the emotional side of trading, it wasn’t his money so a loosing trade was just that, a loosing trade, no big deal. However when it was HIS money the emotions he had previously ignored came flooding in, a loosing trade became a disaster, a problem, something which needed to be solved although as we all know there is no solving a loosing or lost trade. The irony is that he was trading exactly the same as he had in his job, but this time the loosing trades hurt. He eventually got over it, but at a later date pursued another career as trading left him feeling a bit sore. This could be perhaps the only positive home grown traders have over professionals turned amateur, ‘we’ have had to learn to deal with the emotion at an early stage.
I for one hit a wall in trading. I had the skill, I had the knowledge but there was a barrier between what I knew and my ability not to second guess myself. Eventually after taking a break and doing an ‘inward audit’ I realised that my ‘mindset’ needed to change, so I sought out a hypnotherapist for help. That in itself was a big job as most hypnotherapist’s don’t understand what you need to achieve mentally and emotionally whilst trading. After an extensive search I found the person I was looking for.
Louise Nonweiler, a hypnotherapist that actually understood traders, because she herself has knowledge of the subject. We had an initial consultation and she then made me a bespoke recording that I listen to daily. The change has been nothing short of miraculous, I feel like a different person. My confidence has increased a hundredfold and with it my successful trades. As a side note, other areas of my life which I hadn’t realised were also suffering have improved dramatically, it really has been an all round positive experience and one which I never plan to stop.
So, don’t sit there suffering in silence and beating yourself up. We only have a limited amount of time to learn before bad thoughts and experiences set in to permanently tarnish what we are trying to achieve.
Written by James Harwood