Being successful, whether it’s in trading, business, or even in parenting, takes a lot of personal development.
You are continually tested by your surroundings (the forex market, your employees or coworkers, your children). How you react before, during, and after these challenges all play a part in your success.
As currency traders, we all have those days or weeks when things just don’t go our way.
Our losses are overshadowing our wins, and we can’t seem to consistently win. We start to wonder if we can ever make any “real” money and if our goal of becoming a full-time forex trader will ever be realized.
“Why did I ever get into forex trading? It’s nothing but a stress builder and a gigantic headache. Who am I kidding? I think my hair is falling out!”
If you’ve been feeling this way and are asking yourself some of the same questions, it’s time to sit down and work on your positive thinking.
Any successful forex trader will tell you that he has made the mental decision to be as positive as possible in thinking, acting, and doing, and that having a positive mind is critical in overcoming the setbacks brought on by trading.
Of course, as much as positive thinking and the Law of Attraction can put you in the right direction, it’s not enough to guarantee positive results.
So, what do you need to do next? Here are a few tips:
1. Begin the day on a positive note.
Start each morning by being your own hype person. Look in that mirror (scary, I know) and say “I’m good enough, I’m smart enough, and gosh darn it, people LIKE me!”
No, really, promoting yourself to YOU is a great first step in the right direction.
Remind yourself why you’re in this game. It sounds cheesy because it absolutely is, but that mental pep talk sets the tone for your trading day.
2. Shake off the negative vibes.
Those pessimistic thoughts? They’re squatting in your brain without paying rent. Time for eviction!
When you catch yourself thinking “I’ll never figure this out,” flip the script. Visualize yourself as the trader you want to become.
Take note of your negative thoughts and understand that only you can change them.
Once you start ridding yourself of those thoughts, you are thinking positively, while also creating a positive attitude.
The market has its ups and downs. Your trading will be the same. Loses are inevitable. They happen to everyone.
Think and visualize yourself as a successful trader. Imagine only positive results. Imagine the wealth you’ve created and the lifestyle it affords you.
This type of thinking will help reinforce the ideas that first led you to the currency market and motivate you to stick with it.
3. Bring on the positivity!
Your surroundings shape your mindset more than you realize. That includes both your physical space (maybe it’s time to retire that coffee-stained mouse pad?) and the people in your life.
Another easy method to assist you in becoming a positive thinker is to surround yourself with a positive environment. This can be your workspace or the people around you.
The world is filled with doubters and people who want to “help” you by destroying your dreams or shooting you out of the sky. Make it easier for YOU by surrounding yourself with other positive thinkers who reassure and support you in your forex trading.
You can also liven up your trading space so it’s inviting and makes you want to be there. Maybe it’s time to add a bobblehead or two (or five) and replace your crusty keyboard?
4. Spread the good vibes
Talking positively about yourself and others creates a feedback loop in your brain. Negative self-talk is like trading without a stop loss, unnecessarily risky with predictably bad outcomes.
Help yourself by being a positive talker to others and about yourself. Speaking positively fills your head with positive thoughts and ideas.
Negative self-talk only hinders your potential as a trader and keeps you from growing.
Do your best to welcome the currency market’s obstacles and view them as your opportunities for profits and success. Dealing with these obstacles will only help you create a better trading experience.
Small changes in the way you think about yourself, think about others, and think about trading will go a long way in your overall success as a trader.
Remember: Trading success is not just strategy but what happens between your ears.
The market will test you daily (sometimes hourly), but your response to these challenges determines your long-term success.
While positive thinking doesn’t necessarily guarantee success, it gives you the mental resilience to weather the inevitable storms. And in the cutthroat jungle that is forex trading, you’ll need every advantage you can get.
Â
