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BETTER TRADING

  
  Education
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“Any thought put into your mind and nourished regularly, will produce results in your life.” John Kehoe

An affirmation is a statement made in the present about the future as if it had already occurred in the past. Let me say it more simply. An affirmation is a simple statement about what you want to become true in your life. You state it in the present tense as if it were already true. You repeat your hopes and dreams. You declare the opposite of your fears. For example, the fear that you could lose all your money becomes: “I grow my capital through consistently applying my winning methods.”

Be careful to word the affirmation in the present tense. Statements made in the future stay in the future. “Next month I’ll turn my trading around.” stays out there in the future. Now is when you need to turn the trading around.

Affirmations can be repeated to yourself silently or aloud. You can incant them with feeling or whisper them to yourself. You can record them and play them, or write them and read them. A good time to assert them is just as you’re falling asleep or waking up, or any other time of the day. You can say them while you drive or wait in a bank line or as you watch the market or manage a trade.

And here is a little miracle. You don’t have to believe the truth of the affirmation in order for it to have an effect. Of course, it’s better if you imagine it to be true or becoming true.

Sometimes it’s more believable if it’s a process statement. “I am slender” can change to “I am becoming slender.” “I am consistently profitable” changes to “I am becoming more consistently profitable.” There are times when the process is more credible than the reality.

You can also turn the statement into a question. “In what ways am I becoming a better trader?” “How am I becoming a more professional trader each year?” The mind accepts the truth of the question and searches for evidence. (more…)

5 Thoughts for Traders-Must Read

  
  Education
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1.  We want all trades to be winners. The foolproof system for trading profits is attractive and the seller of such systems can be convincing, yet the profits are elusive.  The market could care less about our system, a past trading record, or the trading record of the one selling the system.  You do know that the market’s attorney requires that the following be posted in a prominent place…like on our foreheads beside the big L sign!: “Past results are not indicative of future returns.”  By the way, the market says, “you’re doing it wrong”.

2.  We want to add to losers. The last time I checked the only reason we add to a loser is when the discussion is about our weight!  Get on the scales and add up more losing pounds!  Be the BIGGEST LOSER!  The market, however, says the way to tip the scales in our favor is to add to the winners and lighten up on the losers.  To do otherwise is to “do it wrong”.

3.  We want to be right.  Two wrongs don’t make a right in life but in the stock market two wrongs (and plenty more) will help you get on the right road to making money.   The market says the trading game is about making money not about stroking the ego.  The “right” road is the “wrong” road when your on Wall Street.  Hey, if  you doing it to be right, then you’re “doing it wrong!” (more…)

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