What is standing in your way to becoming a profitable successful Forex Trader?

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Money Story Success Programme

Discover the underlying story that runs your life and take control

Becoming a profitable successful Forex Trader is not simple. Why do we repeat behaviour that doesn’t work? Especially actions that lead to inconsistent trading performance. Unable to get past the basic technical knowledge, you say to yourself “when I get consistent I will commit to becoming a successful trader” or keep repeating the same patterns of edutainment of the past, getting excited for a few days or weeks and then reverting to your old patterns.

Then you push harder, yet expect a different result? Why is it not obvious that;

  • Trying to exit an old story by simply writing a “better ending” only recreates the same story, and ensures that we remain in it?
  • A thousand better endings to an old story cannot create a new successful profitable trader?
  • That the past cannot be changed and is a settled matter?
  • That too often, we see ourselves as the victims of the stories that we author and the feelings we create?

Becoming a profitable successful trader requires you to live, act and feel like a profitable successful trader, stepping into your new reality will require a commitment to change from the old to the new personality. The following points may ring true to you and give you a paradigm shift in your approach to trading mastery.

Are any of these 18 points getting in your way to change?

  1. Focus on the ‘problems’ with the system. Devote special attention to the things that seem frustrating, out of your control, and impossible to address: fundamentals like politics and economics. Systems must remain in focus as broad categories in order to feel distanced and disaffected. Where is your focus?
  2. Maintain a focus on theory. Avoid detail, singular aspects, and application. Remain theoretical about how to adapt yourself to trading, about what needs to be done to own your journey, maintaining the frustration of what seems to continue out of your control.
  3. Believe that the answer will appear when you step out of the box, or when you simply oppose the system by going off into the internet and looking for the ‘magic’ answer.
  4. Keep the point of reference external; keep believing that the antithesis of conformity is opposition; know that one or the other of these external points of reference of conformity or opposition holds the real truth. All the knowledge you need is taught by Learn to Trade, all you need to do is pay the price off success in full and adapt it to your journey to success.
  5. Plan your trading in advance. Do not decide to plan your trading and just jump into the charts without achieving a focused state and reviewing your trading plan before each trading session. Allow the urgency of a situation to decide for you. The gravity of a last-minute emergency forces action and avoids planning. Waiting for the deadline excuses responsibility for thoroughness and excellence.
  6. Believe that the answer is more rules and further structure. Working hard and long compared to quality focused time in front of the charts.
  7. Debate the obvious, and give energy to the controversial. “It can’t be that simple” you say when you hear success stories. Remember they paid the price of success, to be able to share their success to inspire you to take action.
  8. Believe in experts unequivocally and that expertise is authoritative. Dismiss any notion that expertise is perceived, processed, and filtered through assumptions, belief systems, and prejudices of experts. Take the expert knowledge and adapt it to your personality, no one else can make you a successful profitable trader than yourself.
  9. Do not seek your own information or develop your own solutions when you have experts to listen to. Rather, find someone to provide a map for you and avoid anyone who wants to help you develop your own guidance system to navigate. Delaying you commitment to owning your journey, only reinforces your belief that you cannot be a successful trader and that you can now give up and avoid paying the price of success.
  10. Always find some cause and effect relationship to explain things otherwise it’s not understandable. Maintain a consistent external focus to blame someone, or find some tangible explanation that offers a specific, concrete focus on what is wrong. Warning: much work is required to maintain this caveat, as you must be certain that the obstacle can never be totally removed, or its causal effect would have to be confronted as inaccurate. The perceived cause must always be just beyond reach and remedy in order to remain as blame, and to maintain its obstacle role. You could justify your thinking by the way you talk in your social circles and gravitate to supporters of you position of non-commitment.
  11. Keep doing the same thing and expect a different outcome. If the outcome doesn’t change for the better, do the same thing harder. You know you are only setting yourself up to justify your search for lack of evidence that you can be a successful trader.
  12. Are suspicious of new ideas. Stay curious and be prepared to learn and grow whilst maintaining a solid consistent performance base.
  13. New ideas, being perturbators of the existing system, must be curbed if not silenced. Take yourself out of your comfort zone as this is a sure sign that you are challenging your old ways.
  14. Meticulously guard against mistakes; the best way to be sure to avoid mistakes is to keep doing the same thing again and again with perfection as the goal. Progress not perfection needs to be your mantra.
  15. Maintain a focus on failure, giving it the proper respect of fear so that it remains ever in focus with its guiding principle of avoidance. This never ending spiral to your failure will cause frustration and disappointment back to your old self.
  16. Are extremely wary of new strategies and solutions, and invest instead in enforcement of the existing approach. Learn to enjoy the never ending enjoyable journey of growth, whilst your trading gets easier and more profitable.
  17. When you make mistakes, focus on the mistakes and attempt to get them right. Learn and move on from the experience, not reinforcing it as a part of your personality.
  18. Continue to hold prejudices because they are markers of emotional landmines. How you think, act and feel shows up as your moods and with consistent focus become your personality.

Excerpts from New Money Story®: Client Workbook, courtesy David Krueger, M.D. by permission adapted to Forex Trading by Andrew Pertsoulis, Trader Mentor at Learn to Trade.

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