Over the years of my trading career, I have noticed that there are three main components to winning in the stock market: Mind, Method, and Money. Through study and one-on-one coaching, you know there are many great methods out there and it’s only obvious that it does take money to make money. But having a winning attitude I feel has to be the most important aspect of a successful trader.
Have you ever noticed traders who don’t seem to have any method to their trading, or even lack some money, yet they still have great results? Notice that it’s their mental attitude that propels them to that level of success. One of the most popular phrases I have come across is this: “As a man thinks in his heart, so is he.” And this universal truth is just as applicable to traders as it is to anyone else. When you notice the attitude of a winner you will notice a level of confidence and certainty that is almost beyond belief.
Do not make the mistake of assuming that winners are confident and certain because they win, but rather the fact that winners consistently win because they are confident and certain. Not even the best methods will work for those traders who mentally picture themselves losing before they even place the trade. And not even a large amount of money can save the trader who secretly thinks to themselves that every trade they make will eventually melt away.
Choose now to have a higher set of thoughts when you approach this wonderful opportunity called trading. You will never fail, or even feel like a failure, if you can simply remember the fact that you are not your results. There is plenty of room up at the top with all the dedicated traders, but first you must believe you belong there, and then you must start acting like you are. Think the part, then act the part, and the rest just simply takes care of itself. But don’t take my word for it. JUST DO IT.
So what does your mind see when you think of the market? Does it look like a big evil game of chance? How about a massive place of confusion and uncertainty? Is it your friend or your foe? These are good questions to ask yourself because they offer you with a good understanding of what your attitude is towards trading. As traders we are constantly perfecting our techniques and strategies like we should be.
However, I feel not enough time is spent on developing the proper mental attitude necessary for better results in trading. If you keep thinking that the market is out to get your money, then every decision you make will lack confidence. Each of the actions you take will show your weakness, and this enemy you have created in your mind will haunt you all the way to your account balance of $0. You should view the market as “the field of all possibilities,” or your “play ground,” to use two popular phrases.
I like to view this in my own mind because then I can truly be; on my own. I know that my fate lies with me and no one else. If I fail, it is because of my own decisions, no one else. Yes, it can be scary at times, but you will see your attitude towards the market change immensely and results will be more profitable. The market is not our enemy; it truly is our friend. In this vast market lies the potential fulfillment of your every desire. You know this; this is why you are so intrigued by the market. All of this desire you have is yours for the taking-but you must go get it. Don’t beg for it, Go get it! So the next time one of your friends asks you “How is the market treating you?” you respond by saying, “You mean how am I treating the market?” Remember that the market is your world. Trade it with a positive mental attitude. This is what winners do.
The way we view the market in our minds has a funny way of becoming the reality we face as traders. If we view it as a massive casino trying to take all our money then that’s what it will be. If we view it as a place where we can achieve all of our goals and desires, then that is what it will be. Focus this month on your thoughts of the market and each of your trades closely. It will reveal to you all of your strengths and weaknesses. If you do this you will catch yourself with the wrong mental attitude more than once and it’s crucial that you correct that attitude and change it to the WINNING MENTAL ATTITUDE. Each day you wake up remind yourself that the market is here for only one reason: to make you money!
Think it, act it, do it.