The #1 Skill Required To Succeed As A Trader (and what makes a good weekend!)
The #1 Skill Required To Succeed As A Trader
In this Forex trading vlog, I go apple-picking and discuss what I think is the number 1 skill required to succeed as a trader. Vlog #182.
It doesn’t matter what market you are involved in. I have seen time and time again how powerful it is to not care about the day-to-day results as a Forex trader.
I have discussed this principle in-depth in How To Get Consistently Profitable In Forex Trading. There is a big difference between outcome goals and process goals. If you get affected by your day-to-day changes in P&L, you are likely not to show up as your best state in trading.
Do not forget that, as a trader, you are occupying most (if not all) the roles in your business.
How To Not Give A F**K About The Results
The first step in not caring about the day-to-day results in trading is obvious: don’t look at them! Logging into your trading journal software daily to check how much money you made/lost is absolutely useless. It probably won’t help your performance in any way.
The second step to help you succeed as a trader is to practice meditation/relaxation. The book The New Psycho-Cybernetics by Maxwell Maltz is particularly useful in providing simple exercises on the topic.
One of the exercises proposed is to create a Mental Movie. See yourself, by closing your eyes, as seeing the day-to-day results but feeling detached from them. Soon enough, you will begin to embody that trait.
With some practice, you’ll slowly be able to detach yourself from what happens externally.
If you are aspiring to trade for other people while traveling the world, you might want to consider checking out the Desire To TRADE Academy where I’ll help you do precisely that!