Tag Archive for: self-image

The 30 Day Mindset Challenge: Will You Succeed?

trading habits challenge 2ndskiesforex

We are on the heels of June and I’ve decided to take on a new challenge.

For the entire month of June (30 days), I’ll be taking on not 1, not 2, but 7 new habits.

I definitely like a challenge, and for me – a successful mindset requires successful habits.

Hence I decided to announce this challenge openly to you and others, sharing all the details along the way.

But before I get into the nitty-gritty details, I need to talk about habits and why they are key to your brain & success.

key to profitable trading habits 2ndskiesforex

Why Habits Are Key To Your Success

For you to make money trading and achieve your goals, you’ll have to wire in successful habits.

But you currently have a problem. Your brain will do what it is wired to do most of the time (think 90+% on avg).

And your brain is not programmed to make money trading. So you’ll need to un/re-wire your current programming while creating a successful trading mindset.

Now how your brain is wired (wiring = habits) can be explained by one principle – neuroplasticity.

What Is Neuroplastcity?

Neuroplasticity is your brain’s ability to wire and make new connections. Its also the reason why you can unwire connections and bad habits.

There are two key terms for understanding neuroplasticity. They are:

1) SDN = self directed neuroplasticity

and

2) EDN= experience dependent neuroplasticity

To help you understand the above, just memorize the following statements:

1) Neurons that fire together wire together

and

2) Passing mental states = lasting neural traits

Now one thing that is implicit in the first statement is the following:

Neurons that fire apart wire apart

You’ve probably heard something similar in pop culture, such as the ‘use it or lose it‘ phrase. This statement is completely valid regarding your brain.

Habits are what you create by repetitive actions over a consistent period of time. Creating successful habits requires mental toughness because you’re fighting against your brain’s conditioning.

Once you’ve created a habit, your cognitive bandwidth is now available for other important activities.

Think of what your trading would be like if every time you spot a great trade setup – you pull the trigger without worrying about a loss. How would that help your performance on a day to day basis?

Hence your direct path to successful trading is to build successful trading habits.

habit quote aristotle successful mindset 2ndskiesforex

NOTE: If you want to learn my personal methods for wiring successful habits into your brain fast – check out my Advanced Traders Mindset Course.

Front End Work For Long Term Benefits

Building successful habits requires most of the work to be done on the front end. What do I mean by front end?

To wire in a new habit, you have to physically (and chemically) create a new series of connections. This takes (at a minimum) consistent repetition over time.

How long? For the expert at this – about 21 days is the fastest you can do this. 30 days would be more reasonable.

What if you are not working 4-8 hours per day trading at least 5 days per week?

You’ll need about 90-180 days.

From my experience as a trading mentor who’s turned many traders profitable, this is one of the biggest reasons why many never succeed. The habit wiring curve takes just a tad longer than most are willing to do consistently over time.

Do you change your pair, price action strategy or time frames if you don’t get the results you want in a few weeks or a couple of months? Do you just jump from mentor to mentor and course to course as you continue to struggle?

If so, then you have a problem because you’re changing critical behaviors before you’ve fully wired in the habit.

Hence you never get the benefits of wiring successful habits into your brain. And then you eventually wonder why you cannot trade consistently.

Sound familiar?

Thus most of the work in building successful habits for you will come in the front end. The good thing is once you’ve wired them in, the rewards (and potential upside) are unlimited.

That sounds like a pretty good trade to me now doesn’t it?

Why Delayed Gratification Is Key

In your journey to create new habits, you’ll be fighting against a primal instinct. This is via instant gratification and one reason why our brains work against us in trading.

The key is to flip the script and opt for delayed gratification. The problem for you is – in a time of instant gratification, most of what you are exposed to works against this.

The Marshmallow Test & Why Delayed Gratification Matters

 

So you have to go against the grains of every day society and culture.

The bottom line is – if you want ot succeed in trading or life, you’ll need to seek out delayed gratification. This will direct your mindset towards building successful habits over time.

As you begin to add positive habits into your life, you’l build up your self-image along the way.

Having a positive self-image will increase your confidence. Eventually you’ll start to think and believe it is ‘like you’ to succeed.

You’ll believe it is ‘like you’ to accomplish what you set out to do. This is one of the most important things you can build for your mindset.

“The habits you wire in today will become the vehicle for your success tomorrow.”

In the spirit of wanting to build my self-image, habits and mindset, I’m taking on these 7 habits for the month of June.

challenging your mindset 2ndskiesforex

The 30 Day Mindset Challenge: Will You Succeed?

For the next 30 days (without breaks), I’ll be adding the following habits to my daily routine.

Here they 7 new habits below:

1)    1hr of writing/producing new trading content per day

2)    45 pushups

3)    25 situps

4)    25 squats

5)    30 mins reading a book or article about buddhism

6)    30 minutes reading a book or article on neuroscience and/or mindset

7)    30 mins – 1hr work on the new trading applications I’m creating (will announce at a later date)

Looking at the list above, that is a lot of new habits to take on. We’re talking about adding 3-3.5hrs of work to my day every day for the next 30 days.

Normally I do not recommend taking on such a big load of new habits or hours to your daily schedule. However I have confidence in my ability to manage my time and get this done.

Will you take on this 30 day mindset challenge?

If so, I’d recommend starting with 1 habit to begin with.

Start small and work your way up. There is no point setting yourself up for failure, so work on something you can achieve. Just make it stretch your comfort zone a bit.

NOTE: For a great article about the comfort zone and how it determines your success in trading, click here.

comfort zone - challenging your mindset to succeed 2ndskiesforex

 

BTW – if some of you are thinking ‘only 25 situps per day?’, my apologies as a) I’m getting older and b) I’ve spent far too much time in the seat lately 😮

All kidding aside (partially kidding…), what new habit will you challenge yourself for the next 30 days?

Write it below along with why you want to work on this.

IMPORTANT: Make sure to work on a habit that you can control the execution of.

For example – you cannot control the market and profits. Hence creating a habit like ‘I’m going to make $5000 per day trading’ will fail because it’s based on something you cannot control (markets).

This is why you only work on habits that you can control.

Now make sure to share below what one habit you’ll be working on for the next 30 days. Be specific along with sharing what it will mean to you to build this new habit.

I’ll be posting updates on this once per week every Tuesday at 930am so make sure to check back regularly.

I’m looking forward to hearing from you. And I’m willing to bet you’ll feel like a more confident version of yourself for completing such a challenge.

Until then – good health and trading to you.

8 Resources for the Trading Mindset, Meditation & the Brain

brain neuroscience and trading mindset
About a fortnight ago I did a trading seminar in Toronto.
I spoke about Neuroscience, the self-image, comfort zone and the trading mindset which had a strong impression on the attendees.
One of them emailed me the following question shortly after:
“Could you point me towards some resources on the trading mindset, buddhist meditation and personal growth?”
I really appreciated this question because part of my work here is to have a positive impact upon people.
Changing someone’s brain and mindset is no small thing.
Most people repeat the same mistakes in trading (and life) because it takes effort and hard work to re-wire the brain.
But doing so in a positive and meaningful way can impact someone for life, just like many people along the way have impacted mine – sometimes from meeting them just once.
And such an impact and change will undoubtedly improve our trading mindset.
In answer to this individual (David), I decided to share 8 powerful resources for buddhist meditation, mindset and personal growth.

#1: Calm.com

What is it? A website that plays calming background music and imagery.
Sounds can have an effect on our brainwaves, breathing and heart-rate. Mozart and Beethoven are notorious for helping to create alpha waves within our brain (~4-10hz helping to keep our minds relaxed but attentive).
I personally use this first thing in the morning to start my day off right and create a calm environment for trading.
You can select from a suite of background images and sounds whichever appease you best.
Click here to check out what they have.

#2: Lion’s Roar

A great website for learning about meditation, buddhism, perspectives on culture and life where you don’t have to be a buddhist to benefit from (nor become one).
The website’s tagline is ‘Buddhist Wisdom for Our Time‘ and I often find some great articles or books in here which reflect a great perspective on an every day challenge we all encounter.

#3: Change Your Brain, Change Your Life (Book) by Daniel Amen

Dr. Amen is one of the pioneers that has done SPECT analysis on the human brain (over 80,000+ brain scans) and has helped us see the brain (and it’s health) in a completely new perspective.
His book Change Your Brain, Change Your Life really demonstrates how the brain impacts our behavior (more than we likely imagine).
He also offers some really good tips on how to improve brain health and has a fantastic ted talk sharing a few key points from the book.

#4: Lumosity

Plenty of gym’s out there to train your body and muscles, but what about your brain?
Enter lumosity.com. Developed by a team of Neuroscientists who made brain entrainment fun and enjoyable.
A ton of my students use this every day and have shown not only better scores in their testing (via lumosity), but continually report a sharper memory, increased focus, and quicker response times.
Your brain needs training, and this program gives you specific tasks to work on memory, speed, problem solving, and more.
Want to train your brain? This is one of my recommendations.

#5: Wheat Belly

Wheat what?
Belly.
As you might have guessed, this book is about wheat and how gluten affects your gut and brain.
This one was an eye opener for me as I LUV’D my bread (part italian) and pretty much ate it (or some form of gluten) every day for decades.
I cannot tell you how much I enjoy sinking my teeth into a good slice of freshly cooked bread.
BUT…I want a healthy brain and gut, and my desire to have those is stronger than my desire to be without them.
I know bread lovers, this one is trodding upon diet which is generally the ‘out of bounds’ area for traders, likely to incite a ‘what the F do you know, don’t tell me what to eat’ type response.
So I’ll just say read it, decide for yourself and I’ll support whatever decision you make.

#6: How to Meditate by Pema Chodron

Pema Chodron is a Western Buddhist teacher who has an amazing ability to teach meditation and buddhism for the every day person in our every day language and experience.
The subtitle to this book (How to Meditate) is ‘A Practical Guide to Making Friends with Your Mind‘.
And that is what we have to do when trading – make friends with our mind.
We cannot beat ourselves down, we must build ourselves up (and our self-image).
We have to learn how to relate to our minds beyond the western psychology and ‘talking about our feelings‘ method.
Western psychology is being replaced by modern day neuroscience and eastern meditation/school’s of thought.
This book takes the latter path but does so in a way that anyone today can relate to.
If you want to become more friendly with your mind and have it start working for you, meditation for trading is one powerful method available .
So check out this book which offers some great insights on the process.

#7: Through the Wormhole by Morgan Freeman

Yes – that same Morgan Freeman (the actor) has a great show called ‘Through the Wormhole‘.
It’s available via iTunes and covers some fascinating topics while asking the hard and provocative questions, such as:
-What Makes Us Who We Are?
-Mysteries of the Sub-conscious
-Is Luck Real? (traders will love this one 😉
-Can Our Minds Be Hacked?
I think you’ll find this show interesting because many of the minds, scientists and thinkers will without a doubt challenge the way you see yourself, your mind and your experience in the world.

#8: The Advanced Traders Mindset Course

Wait…you can’t mention your own course.
Yes…I can.
I’ve spent the last two decades studying Neuroscience, particularly focusing on improving cognitive performance.
Over the last 15 years, I’ve been meditating every day, completed a 1 year meditation retreat, and used this for my trading process and mindset.
I’ve worked with a teacher who constantly challenges me beyond my comfort zone and help me continually grow.
In 2014, I spent over 700+ hours building this course for one purpose – to change the way you think, trade and perform.
Students in the course are no longer seeing their trading and mindset the same.
They are having the ‘aha‘ moments and finally understanding the how, what and why they have performed the way they do.
Many have completely changed their performance numbers around with one student up +12R for the month of May.
I’ve even had many students wanting to teach this to their kids.
This training is that powerful.
For those wanting to achieve peak performance in their trading, visit my ATM Course page and reserve your seat for the next release (only available for a short time).
Did you find these 8 resources useful?
Also what resources do you use to help with your trading mindset and personal growth?
Please share this article with anyone you think would benefit from this as we all need better brains and minds for trading and life.

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Don’t Make This Mistake In Trading

mistakes in trading

You followed your trading plan. You got in at a great trade location. You were calm as a hindu cow throughout and executed perfectly from A-Z.

But…that noise your platform makes when you lose money…you heard it, and your account is now smaller.

‘I did everything right, it looked great, and yet I lost money. What went wrong?‘

Nothing. You did nothing wrong…up until that point right there.

Why?

Because you made the one failure almost every losing trader makes. You missed one essential element that will drastically affect your trading performance.

Reinforce what you did correctly.

‘What does that mean?’

It means regardless of how much you won or lost on a trade, you reinforce what you executed correctly.

‘What if I only did one thing out of ten correctly?’

Doesn’t matter – reinforce it.

‘How does this help me when I lost money? I want that money back.’

Ya, no shit! So does everyone else in that situation.

‘Ok tell me – why do I need to reinforce what I did correctly when I lost money?’

Because beating yourself up damages your self-image. Because not reinforcing habits doesn’t help to reproduce them.

By thinking about and reinforcing what we did correctly, we increase the likelihood we’ll repeat them.

“We cannot control the movement of the market, but we can control our thinking process.”

And what we think about from the beginning to end of our trading day matters. It heavily determines our performance.

The more we control what we think about, the less mental errors we’ll have while trading. And that leads to greater performance over time.

It also leads to a stronger self-image that believes it is ‘like you‘ to trade successfully.

This tip is just one slide in twenty-six from just one video of the Advanced Traders Mindset Course.

Want to change the way you think, trade and perform? Enroll now and join hundreds of members in ATM Course.

NOTE: Course registration closes in 3 days!

I know, sorry to give you such late notice, but I have been talking about it for 5 weeks now, and it’s been plastered all over my site.

Remember, one of the key dividing lines between success and failure in trading lies in your mindset. Make yours a successful one.

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Excuses in Trading: What They Do & How to Overcome Them

clair and chloe gruenke 2ndskiesforex
Meet Claire and Chloe Gruenke. They are 13 year old twins. Both of them compete in track for their junior high school in Illinois.
A few months ago, both were in a track meet when Chloe felt something ‘pop’ in her leg and fell down. Trying to complete the race, Chloe tried to get up, but she couldn’t run, let alone walk.
At this time her sister Claire, realizing Chloe was physically unable to complete the race on her own, did something extraordinary.
Instead of calling for help, she put Chloe on her back and kept on running for the finish line. There was no chance either of them was going to come in any place but dead last. Yet Claire ran with her sister on her back.
Right before crossing the finish line, Claire gently let her sister down and told her to cross the line first. Chloe saw the bigger picture, and they crossed at the same time.
This is an amazing example of losing the race, but winning at life. It is also reflective of something which plagues developing traders – dealing with excuses when facing obstacles.
Excuses & Your Trading Mindset
When it comes to trading, what is the most damaging part of the excuses you make? Is it the fact you missed an opportunity pull the trigger on a winning trade? No. Is it that you didn’t fill out your training journal and learned from your trading mistakes? No.
The most damaging part about making excuses when it comes to forex trading, is how they affect your self-image. Every time you make an excuse, and then act upon said excuse, you communicate something which dis-empowers you.
excuses in forex trading
Each excuse you give and act upon sends a message to your self-image of how weak it is, how unable you are to accomplish something, and ultimately where your level of ability is at.
This is incredibly damaging because our self-image is one of the greatest determinants for our performance and level of trading success. With each an every excuse we make, we not only stunt the growth of our self-image, but concurrently shrink it.
Excuses Affecting Performance
We all have the goal to become a successful profitable trader. When we parse out an excuse as the reason why we didn’t do something, we lower our self-confidence, particularly in our ability to follow through. When we don’t follow through (even though we recognize our ability & potential), we experience frustration which affects our performance negatively.
Products Of…
In most cases, excuses are a product of two things;
1) Lack of Proper Motivation
2) Unspecified Goals
If you aren’t properly motivated to trade profitably, or do not know the underlying reasons for your motivations, your unconscious mind & limiting beliefs will subvert your efforts to do the hard things when it comes time.
This lack of completing what you set out to do can often be a reflection of being unmotivated. It is only when your motivation becomes larger than the energy of your excuses, is the moment you start to see forward progress in your efforts and training to accelerate your learning curve.
Also, having unspecified trading goals leaves you with no clear endgame, and thus motivational underpinning to trade successfully.
Easy to Produce
It will always be easier to produce excuses any time we fail to do something or reach our goal. We will always have moments when we are tired, do not feel 100%, lack inspiration, had a bad day trading, don’t have the money, the time, the genes, the experience, and the list goes on…
All of the above can be manufactured in a second and take no effort at all.
Before 6am & -40 degrees F
I cannot say I truly like getting up just before 6am every day. Sometimes it feels great, and sometimes I’m tired as all hell. In those latter moments, it is hard to get up, and quite easy to stay in bed.
transforming excuses into strengths 2ndskiesforex
Luckily, I’ve had various ‘trainings‘ since I was young (soccer, martial arts, yoga, meditation, forex trading) which conditioned me to ‘just do it‘. Getting up when it was -40F at the age of 11 during a Chicago winter wasn’t fun by any means. But working towards a goal and accomplishing something for my day was 99% of the time far better then doing nothing.
It’s true – getting up that one day wasn’t going to make me a professional trader, martial artist, or soccer player. But each step was both building my skills, while increasing my self-image. Do this enough times and eventually you feel like you can overcome almost any obstacle.
Common Amongst Successful Traders & People
One thing you will notice amongst highly successful traders and people, is when they come up against an excuse, they look for ways to get past them and complete their task. Their long term vision is far more important than their short term discomfort.
They are solution focused, thus constantly turning their minds towards finding an answer. This solution based focus, while being focused on the process helps to improve brain performance and wire your brain for success.
Successful traders and people do not leave much space for excuses to enter. Even when they do surface, they are usually met with discipline, focus and a forward moving momentum excuses usually fold under.
Overcoming Is…
Remember, overcoming is the currency of success. Thus it is very important you are solution focused when facing your challenges, instead of allowing your challenges to transform into excuses.
In 95+% of all situations, you are in control of ‘you’. Hence the underlying reason you haven’t done what was needed, was because of something YOU chose to do (or not to do).
Once you realize how much you are in control, there are fundamentally no more excuses to give as you determine your reality more than any other agent.
Going back to Chloe & Claire, Claire was less worried about winning the race, and more focused on finding a solution.
She communicated to everyone on that track, there are always ways to finish the race. She wouldn’t let any excuse into the situation. She showed us all something great about humanity, of what we could be if we let go of excuses, and directed our minds towards solutions.
Unable to run, Chloe still finished the race, and Claire wouldn’t let it happen otherwise. She had the mentality of ‘No-Obstacle‘, which is one of the most powerful mentalities you can have in trading and life.
Every time you face an obstacle or excuse, but overcome it – you increase your self-confidence and self-image. This is one of the most effective ways to build a successful trading mindset.
In Closing
Excuses are some of the most damaging things to your mindset and trading success. They reduce your self-image, which must be strong to trade successfully.
By learning to see what excuses are, and discover how much we can actually control them, we give ourselves the potential to transform obstacles into growth, and excuses into determination.
In reality, although there are great mountains like Mt. Everest & K2, the greatest mountain we will ever climb is our own mind, and our own challenges.
no excuses in trading 2ndskiesforex
For those who can and do scale such mountains, you will find yourself standing atop all those obstacles, limitations, and challenges, which can bring a confidence to last you a lifetime. It is in that moment that you will see the great expanse, and what’s available to you.

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What Builds Confidence in Trading?

Last week in a free private webinar for my course members, I asked a key question about what builds confidence in trading.

Trading is without a doubt, an endeavor you need confidence in. Having a confidence that you can do this will be a fuel when you need it, clear obstacles when you face them, and provide a focus on what is essential. Confidence will accelerate your learning curve.

On the flip side, lacking confidence can be one of the most destructive traits for a traders mindset. When losses come, how will you re-bound and focus? What happens if you start your day with two, three, or four losses? Will you doubt your system, trading plan or skill set?
All eyes can see, lacking confidence is destructive, while having confidence gives us a greater chance for success. Although we know this conceptually, or intellectually, often times our actions tell a different story.

So how do we build confidence in trading? What can we do create an unshakable belief in our abilities? If we engage specific things, will they help us form a foundation to profit consistently?

The answer is yes, you can, without a doubt build confidence in yourself and your abilities. In this article, I am going to share a method to help you build confidence. Will it be enough? I don’t know, but it’s a great place to start.

Successful Endeavors

I am very proactive in protecting my mental capital and self-image. Having a strong self-image and a healthy reserve of mental capital will lead to increased performance.

With that being said, what do you think it does to remember your past successful endeavors? Do you think it builds up your confidence, or brings it down? The question is rhetorical, but I want you to begin thinking about this more deeply.

building confidence in trading 2ndskiesforex
I’ve worked with thousands of traders over the years, and one common trait among most of them, is they are all good at something. Chess, poker, math, sports, finance – you name it, they are likely good at something.

In our courses, we have well over 50 doctors, many of them surgeons. We have poker pro’s and tournament champions who are wanting to transition into trading. I have a few traders on the NYSE or for some large prop desk while others are high profile trial lawyers. Engineers, programmers, IT specialists….we have them all and the list goes on.

As a whole, most students who want to learn forex trading are intelligent, probably successful in their current field, and likely good at some skill. So how do we leverage this to build confidence?

A Method

One simple method you can use is to think about what you are already good at. Think about what you went through to get there, the obstacles you overcame, the doubts you faced, the hurdles you passed, how many times you weren’t sure you could be good at it. Yet in spite of all that, you became highly skilled at it.

Notice the confidence you feel to perform that skill or endeavor. Did you always feel that same way as you did now, particularly in the beginning? Unlikely. But you got there, and now have a competent level of skill in it, whether it be a skill, sport, job, martial art, musical instrument, work or endeavor. This current experience and skill can (and should) be used for our trading process.

Hence, take some time to think about deeply what skills or traits you can do well. Think about it till it brings up a feeling of confidence to engage that activity and do it well. Remember this feeling and apply this towards trading.

Climbing Mountains

It is important to remember, all of you at some point in your lives have broken through obstacles, difficulties, and gone past your doubts. Maybe these were small, or maybe they were mountains, but every one of them we’ve climbed reminds us of how far we’ve come, and what we’ve overcome along the way.

As I said, before, ‘Overcoming is the Currency of Success.‘

overcoming is the currency of success 2ndskiesforex
Remembering this, and having contact with our past successful experiences will help you build confidence in yourself. This is another method for protecting your mental capital and keeping a strong self-image.

Hence, take some time to remember all the obstacles you’ve overcome along the way. This should give you a feeling that you can overcome your inner obstacles to trading successfully.

In Summary

Having confidence and a strong self-image are two of the most essential weapons for a successful trading mindset. Most, if not all of you, have had to overcome something in your life. And equally most are already good at some skill, sport or work.

Think about your developed skill set in any particular field, and what you can do with those skills. Think about what obstacles you had to overcome throughout your life. Notice how it makes you feel about yourself when you think of what you can do, and what you’ve grown past along the way.

Sometimes, we need to just remember our strengths, inner resources, and wisdom we’ve acquired along the way. Sometimes just noticing those things will remind us of our capacity, and our potential. This is just one method you can use to build up confidence in trading.

bruce lee forex trading 2ndskiesforex
It should be noted, there are other crucial methods you can be engaging daily to build an unbreakable bedrock of confidence. Take some time to ask yourself what builds confidence in trading for you.

Please make sure to share your ideas on this, how it helps, and any comments you have regarding this article.

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Why Do Most New Years Resolutions Fail?

By now many of you are in full swing with the new year, and at least 6 days removed from creating your new year resolutions. Below are some interesting statistics about new years resolutions, some of which I think will not shock you.

1) About 8% of people are successful in achieving their new years resolutions (not far off from trading)
2) 25% of those who make them don’t even make it past the first week
3) 34% of those resolutions are related to money
Source: Betterment.com
Do these numbers above surprise you? My guess is if I surveyed 1000 people, the majority would not be surprised.
We’ve all made resolutions and failed to keep them (including yours truly).
Have you ever asked yourself why is that? I certainly did.
new years resolutions why they fail chris capre 2ndskiesforex
Why do so many people consistently make new years resolutions, yet fail to really nail them? Made a resolution to always fill out your trading journal each day without fail, only to a few weeks/months later finding yourself not filling it out? Why?
The reason you did not fill out your journal, or consistently risk a fixed % of equity per trade, or whatever resolution you made is the same underpinning reason all resolutions fail.
In this article, I will briefly share a far better method for making consistent change, then ask the critical question as to why most fail.

2018 trader resolutions 2ndskiesforex

A Far Better Model For Consistent Change
One of my yoga students Mark Gonzales eventually went on to become a great yoga teacher himself. In 2012 he was given the Yoga Journal’s Talent Search Winner Award, and has one of the most influential power yoga channels on youtube. He still humors me in letting me know my classes were some of his hardest ever. I appreciate that sentiment as I wanted him to push his body and mind to become more than what he thought he could do.

One brilliant insight Mark recently shared captures a far better model to consistent change. Here is what he said below;
“New Years Resolutions are for those who didn’t work hard enough or look after themselves the year before. Self improvement can start now, all year round, from this moment forward.”
Indeed, for those who are constantly working on themselves all year round, there is no need for a new year resolution. It is far easier to work on yourself month-in-month-out then to rev up the change engine once a year. If you have not been working on removing your limiting beliefs throughout the year, then a new year’s resolution is most likely to fail.
It is like not running all year, then all of sudden taking yourself out for a long run when your lungs and legs are not ready for the task. You are most likely to fail, and then imprint negatively on your self-image ‘it is not like me to make the changes I need/want to‘.
This only hinders your confidence and decreases your likelihood of making lasting change in the future. Every negative imprint from failing to keep a commitment or resolution only adds on to the difficulty of changing your trading mindset in the future.
Daily affirmations by themselves will not make lasting change, especially since most are done improperly. Their is an underlying flaw in daily affirmations most fail to see. Also making those trading resolutions at the beginning of the year creates the idea you can only change once a year. This is also a fateful idea.
It is far easier to work on smaller goals throughout the year, that eventually build up your self-image and confidence to make the big changes. When you have seen yourself do the work earlier, it becomes more ‘like you‘ to do the work later. This is a far superior model for consistent improvement and hitting your target.

hitting the target in trading 2ndskiestrading.com

Why Do Most Resolutions Fail?
Understanding this one thing would help unlock many of the critical reasons why you make the same trading mistakes, why you have a streak of winners and lose them all in one trade. It is the same reason why you follow your trading plan for a few weeks/months, but then go off the reservation.

The reason why a trader fails to make consistent change and build a successful trading mindset is the same reason why most resolutions fail.
With that being said, before I share the answer – why do you think most traders make the same mistakes over and over again? Why do you think you fail to keep your risk management? Why do you think you succumb to the same emotions you know are toxic to your trading?
Many of you are smart people and can certainly figure out most of what you are doing isn’t helpful. Yet you still do it anyways. Why do you think you continue to do things which you know will only hurt your trading performance?
Please make sure to share and comment below. Your answers will be incredibly revealing as to where you are in your trading process, how much you understand about the trading mindset, and what you have to build mentally to become a successful trader.

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The Fastest Way to Successful Forex Trading

I recently got an email from a new student who sent me a month of their trading prior to joining my course. Their story is just like many others – they traded well on demo, went live trading, and lost a fair amount of their account. Now they are trying to get back their losses in the quickest way possible.
Sound familiar?
I can appreciate wanting to make gains as quickly as possible. Who wouldn’t?  He asked me ‘what is the fastest way to successful forex trading’?
fastest way to successful forex trading 2ndskiestrading.com
Without a doubt, he had a sincere desire to trade consistently (most do). But two crucial things were missing from their plan.
These two things when done well, will lead to success in trading (and perhaps any skill) faster than hunting for that ‘magic system’ which will  make back all your losses. Without this necessary pair, what you want to accomplish (making money / trading successfully), will not happen. The results will not come.
So what are these two crucial things you need to focus on?  Process and Progress.
Although the goals (making money, trading from home, consistent profits) are what we strive for in trading, when results become the sole focus, your ability to make money trading becomes hindered.
Why?
In order to reach the level of trading profitably and consistently, you have to build the abilities and skill sets necessary to get there. It sounds obvious, almost easy when you hear it, but it is nothing of the sort. It is one of the most elusive aspects of the trading mindset which new traders fail to understand.
How do you get there?
Process First -Then Progress
This starts with focusing on the process by a) doing the steps necessary to build the skill set, which b) allows you to perform.
Do you think an architect started off by creating buildings? Or do you think they had to learn the math, geometry, and basic skills needed to build a structure?
architect focusing on process 2ndskiestrading.com
If you focus on results only, you will skip steps because your focus is not on the task at hand. It sounds counter-intuitive, but your goal in the beginning should not be to make profits. It should be to acquire the abilities (through training and practice), which allow you to perform and trade well.
Remember this next statement well, but a trader will not gain the results wanted BEFORE obtaining and building the necessary skills to reach that result. This comes after you have built those skills.
This is why so many traders fail. They focus on result, not process.
If you think focusing on the process is not important, ask yourself;
‘When getting a complex heart surgery, do you want the doctor focusing on the money he makes from the surgery, or the very complex precise cut he is about to make around your heart?’
focusing on process heart surgery 2ndskiestrading.com
Focusing on Progress
Moving on, once your focus is dedicated to the process, it’s time to track your progress (e.g. end of the trading week analysis).
In the very beginning, I have little concern for a traders profits or losses when they first come to me. My main concern is identifying what parts of the process they are missing or skipping. Then I have them refocus on that so they build the base skills needed.
For example, if a trader (you for example) has trouble keeping risk consistent, and fail to use the risk of ruin formula, you will not make money. So my first goal is to have you focus on keeping risk consistent (process). If you show improvement in this, I’ll have you track the ‘progress‘ you are making.
This latter focus gives you confidence. It communicates to your self-image and mindset you can improve, get better and grow. It self-reinforces you focusing on the process, which helps to see the progress you are making.
If you keep this focus, and don’t skip any steps – it is only a matter of time before you are making money trading.