Every once in a while, I get someone mentioning that “Focus on your Mindset” in trading is bad advice.
Some people also think this is a phrase used to sell more mindset courses.
I don't blame you if you think that.
So many coaches repeat that!
Intermediate traders who aren't profitable yet often say that just “trading your plan” will solve it.
I thought that too for a while
…but the more I explore mindset, the more I discover parts that no one seems to talk about.
Trust me on this one… just “trading your plan & staying disciplined” won't make you a good trader.
“Why is that?”, you may ask.
Well, I'll give you a simple example…
Along with your mindset/thoughts comes perception.
Your perception can affect your thoughts.
…and your thoughts always affect your perception.
Imagine you were standing in an airport waiting to board a plane.
The guy next to you barely survived a plane crash last year.
Next to him is a business traveler flying every couple of days.
You three look at the plane in front of you.
You see it as just a normal plane with little excitement for your destination.
The business traveler sees it as a means to go make more money.
Now, how does the crash survivor sees it?
He's probably thinking about the remains of the plane he saw after the crash.
Three different people, three different perceptions.
But even if you tell that guy “just stay calm, don't worry”
…I'm sure it's not gonna help him much!
What needs to happen (for him to enjoy the flight) is simple.
He needs to transform his perspective over-time.
But it's hard for him to do it alone.
Either that guy gets help from someone who can work with him.
Or he'll need to take a lot of flights to practice being exposed to the thoughts.
Then his perception & mindset would change over time.
Obviously, I'm aware this is an extreme example
…but the same thing happens in trading.
We only trade what we perceive no matter how good our plan is.
So I hope this gives you some pointers on what mindset is like
and how we can work on it.
To give you a quick boost, I decided to give you 70% off my course on trading psychology.
It's called 7 Ways To Stick To Your Trading Plan.
I built this course with trading psychology expert Mandi Pour Rafsendjani when I visited Melbourne last year.
Don't forget to use the code MINDSET on the checkout page to get your 70% off. (discount valid until June 30th 2020)
As always, let me know if I can help in any way!
Keep crushing it 💪📈