Module 12 Innerworth — Mind over markets

Chapter 97

The Power of Positive Imagery

Have you ever had those days, or weeks, where you just couldn’t get on a winning streak? Perhaps you are a novice trader trying to break into the field, and wondering if you’ll ever become a full-time, active trader. Sometimes, it feels like you’re just spinning your wheels. It’s easy to feel like throwing in the towel. Whether you are feeling down and beaten or in a little bit of a slump, positive imagery can restore your optimism.

You can use a variety of positive images as a source of inspiration, and depending on your background and resources, some positive, motivating images are more realistic than others. If you are from a well-to-do and well-connected background, it may be motivating and realistic to imagine yourself becoming the next Warren Buffet. But if you’re like most people, you would settle for becoming a skilled, profitable trader. Think of how great it would be.

Imagine yourself having a wealth of market experience and being able to recognize a pattern intuitively and being able to react just as instantly. Every week, you have no problem identifying profitable setups and you have enough money in your account to take advantage of them in a major way. And then there are times when you hit upon a good run, and really make huge profits. Life is good. You enjoy the process of trading and don’t need to care about meeting your financial goals anymore. You just know you are having fun all day and sleep soundly at night.

Isn’t the image pleasing? Doesn’t it motivate you to work harder to reach your goals? Anyone can dream, but what is the difference between a realistic dream and a pipedream? That’s a hard question to answer. Only you know your abilities and what is realistic based on your background. It doesn’t make sense to imagine the impossible, however. It may feel euphoric in the short term, but you’ll know that your motivating image is just a fantasy. If your dream is unrealistic, you’ll end up frustrated. You’ll set yourself up for failure because you can never attain the goals you’ve set. It’s important to have a positive image that is motivating but also realistic.

How do you create a realistic, motivating image? Look for role models. There are numerous trading books with interviews with seasoned traders. Find traders who have similar backgrounds to yours. Learn how they made it. What were the market conditions? What did they do to prepare? Use their career as a roadmap for your career. Having a real person in mind as a role model can transform vague, quixotic images into a tangible, attainable reality.

Once you have a positive image in mind, it can only be motivated if you believe it is possible to attain it. It is essential to develop a clear plan for how you will reach your goals. If you don’t have enough money to trade, for example, consider getting a second job. If you feel that you need more instruction, figure out how you will be able to find the time to get that instruction. If you are taking active steps each and every day to reach your goals, you will think of your positive, motivating image and feel inspired. You’ll take minor setbacks in stride and work tirelessly to reach your goal of becoming a profitable, master trader.

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