“What Have I Done Wrong?” – A Post on the Trading Mindset
Hello Traders,
I just wanted to share a brief excerpt about the trading mindset, and some of the things I share in the course. One of the things I focus on heavily is helping traders build a successful mindset. Here is an excerpt below about one of the most common pitfalls traders fall into that I hear all the time.
From 3 Guidelines for A Successful Mindset…
“You would not believe how many times a student posts a trade, loses the trade, and the first thing they say is ‘What have I done wrong?’
First off, why does losing a trade, in your mind = doing something wrong? Did you expect the system to work perfectly every time? I don’t think any of you really expected a system to work perfectly, so the question is indicative of something else…an idea in your mind that you did something wrong if it (the trade) did not work out.
Anytime you see or hear this, you have to be clued in immediately why you think you did something wrong because you lost a trade?
The answer lies in your self-image – the part of you that has an idea of what you are like (successful, hard working, enthusiastic, lazy, stupid, optimistic, pessimistic, abundant, poor, not fit to be a trader…etc). This is how you view your self – and this question ‘what did I do wrong’ is actually coming from this place – that part of you that believes you did something wrong because you lost.
There is an idea that if you only focus on your mistakes, you will become successful. Although it’s true you need to plug the leaks – you don’t get there by focusing on what you did incorrectly.
So a tool to combat this is to build the neural pathways to making better trades, and there are many ways to do this.”
This is just a brief excerpt in our courses from our trading mindset and performance enhancing section in the course, where I teach and offer tools, techniques, and methods to build a successful trading mindset.
I hope you enjoyed this small piece here, and will use this to look into your self-image, your trading mindset, and what you can do to build the neural pathways to trade successfully.
Kind Regards,
Chris Capre
ohh!! 🙂
this is really an eye opening couple of lines…
Thank u Soo much Chris 🙂
Hello Saagar,
I am glad you liked this as I was hoping some people would get it, and it seems like you did.
Kind Regards,
Chris Capre
I guess the same question could be asked “Did I read the price action well?”
Hello Steve,
Sure, this question would be similar. In some sense it would be better because the language is not as negative for our sub-conscious. The other big thing is what does it mean to your mind and how do you feel when you ask this question.
But there is a better way to ask the question – any ideas how?
Kind Regards,
Chris Capre
How about ‘Given what I knew and saw at the time, did I make the best possible decision?’
Hi Chris
Great article. I think once the mindset is sorted out then the pips will come flowing.
Thanks for being there for us
cheers
prem
Thanks Chris for the article.
I think another question could be “What is the lesson-learned from this loss?”
Hello Vnfx,
I think this is a legitimate question to ask. Its more directed towards the learning process instead of placing a negative imprint or blame on one self.
Kind Regards,
Chris Capre