Trading Issues? Give Yourself Credit
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http://www.netpicks.com/trading-article/give-credit-where-credits-due/ Many times it’s all too easy for us to become wrapped up in what we aren’t doing well or more specifically, what we’re doing wrong. Naturally, if a trader is losing money they will look for reasons why and although identifying problems has a role to play in creating sustainable solutions, the other side of the coin could be just as important.
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Trading Issues? Give Yourself Credit
- 1. Its easy for us to become wrapped up in what we aren't doing well or more specifically, what we're doing wrong.
- 2. Reasons Why
- 5. Buying/Selling Pullbacks In Trend With Trigger
- 6. Human Error
- 7. - Actions
- 9. Negativity and setbacks can take their toll on motivation.
- 11. 1. Things that you're good at are likely to be easier to improve with little effort. 2. Where you are weak, you can certainly improve but the effort is much greater. 3. Recognizing why you're doing certain things well can help you spot patterns and behaviors that you can use to help create a plan to change where you are weak.
- 13. Boasting Traders! “I made 500% trading my Flange Method!”
- 14. “I have to stop taking profits too soon”
- 16. The experience of these consistent failures only adds to your doubt and fear.
- 17. MSTEAKS Happen
- 18. Focus on the things that you do well & give yourself credit where credit's due
- 20. Concentrating on weaknesses can fuel negative beliefs and discourage you. Concentrating on strengths can support positive beliefs about your own ability and motivate you.
- 21. Be Honest With Yourself
- 23. W W W. N E T P I C K S . C O M Have patience, stay positive and things will progress.
Editor's Notes
- 00:00:00 - (duration:00:00:06) - Its easy for us to become wrapped up in what we aren't doing well or more specifically, what we're doing wrong.
- 00:00:06 - (duration:00:00:09) - if a trader is losing money they will look for reasons why and although that can help find a solution, you can't forget the flip side.
- 00:00:15 - (duration:00:00:07) - Identifying what you're doing well and when you're doing it, can be a huge turning point in a trader's career.
- 00:00:22 - (duration:00:00:04) - For many traders, performance is only measured on dollars gained versus dollars lost.
- 00:00:26 - (duration:00:00:07) - By focusing on what type of trade is actually making you money you'll give yourself the opportunity to improve your performance overall.
- 00:00:33 - (duration:00:00:08) - Cutting out the poorly performing strategies is a great start. But often you find that it's errors that you make are holding you back.
- 00:00:41 - (duration:00:00:09) - Once you can see your negative actions, it is easy to make the effort to minimize their impact.Have you ever played sports or done anything where you had a coach?
- 00:00:50 - (duration:00:00:06) - If so, was the best coach the one you pointed out the wrong but also praised you for the things you did well?
- 00:00:56 - (duration:00:00:14) - As thick-skinned as some people are, negativity and setbacks can take their toll on motivation. On the other hand, demonstrable skills and successes help to cement you on the road to success.Trading is no different.
- 00:01:10 - (duration:00:00:09) - Effective self-analysis has to be a balance between identifying weak areas to deal with and highlighting strengths to build upon. Consider this....
- 00:01:19 - (duration:00:00:19) - 1. things that you're good at are likely to be easier to improve with little effort2. Where you are weak, you can certainly improve but the effort is much greater. 3. recognizing why you're doing certain things well can help you spot patterns and behaviors that you can use to help create a plan to change where you are weak.
- 00:01:38 - (duration:00:00:10) - We are genetically pre- programmed to want to be good at something. From birth we are measured on performance and pitted against other people on virtually every arena imaginable.
- 00:01:48 - (duration:00:00:11) - Trading is just the same. You see proof of that all the time by the number of people on the internet who either directly claim to be successful traders or at the very least set out to make you assume that they are.
- 00:01:59 - (duration:00:00:11) - When you're always trying to improve your trading solely on the basis of targeting your weaknesses and "stopping doing this" or "being better at that", there's a good chance that you're setting yourself up to fail.
- 00:02:10 - (duration:00:00:15) - By constantly seeing yourself not achieving perfection and failing at making the change, you will discourage yourself. Guaranteed.Repeating the same mistakes doesn't feel great and in the end it's more than likely to lead to giving up on something.
- 00:02:25 - (duration:00:00:11) - It leads to poor self-image and a belief that you can't achieve the success that you have such a strong desire for. The experience of these consistent failures only adds to your doubt and fear.
- 00:02:36 - (duration:00:00:06) - Of course it's inevitable that you'll be wrong or make mistakes and this is especially true as you're learning.
- 00:02:42 - (duration:00:00:17) - If you start to focus on the things that you do well and give yourself credit where credit's due, you'll slowly start to see a change in attitude and find the belief that you can achieve your goals.Seeing the things you do well can give you the strength to withstand setbacks that come....especially with trading.
- 00:02:59 - (duration:00:00:09) - Improving performance, little by little, can add up to dramatic results and you'll find that most problems can be overcome with the right approach and attitude.
- 00:03:08 - (duration:00:00:09) - Concentrating on weaknesses can fuel negative beliefs and discourage you.Concentrating on strengths can support positive beliefs about your own ability and motivate you.BUT.
- 00:03:17 - (duration:00:00:10) - You must be objective when identifying your strengths. If you aren't being objective and you identify a strength that really isn't, be prepared to welcome discouragement.
- 00:03:27 - (duration:00:00:07) - You'll beat yourself up for doing something that lost you money and then you'll beat yourself up about thinking you're good at something when you really aren't.
- 00:03:34 - (duration:00:00:04) - Have patience, stay positive and things will progress.