Trading Mindset: A Key Factor In Having A Winning Mindset

At the heart of everything with your trading, it really all comes down to your mindset and, you know, what's going on in your head. I mean, because if you think about it, trading is. It's not just a, you know, 90 mental activity. It's like about 98 mental activity now. It's not all, you know, 98% psychology. There's more to it than just psychology. I mean, just because, you know, you might have your psychology. Right. Doesn't instantly make you a great trader. There are other things that you need. You do need a good strategy and you do need to have the skill set that goes with it. And of course, you know, the consistency, which is one of the skill sets. If you're lacking the skills, if you're lacking a decent strategy, psychology is only going to get you so far. So that said, today we want to take a look at mindset because, yeah, again, mindset, it covers a lot of ground, but there are some key things to it and one of them I'd like to share with you today is perspective. And specifically, what I mean by perspective is in the context of mindset we're talking about is how you see things. And here's what I'm talking about. Years ago, I used to be a cigarette smoker. Bad thing, glad I quit. But anyway, at the time I saw myself as a smoker. And so that was a big thing. And I saw smoking the way I perceived the activity and everything was that it was more beneficial than it was a problem. And so what I learned in quitting smoking was one of the things that made it stick and made it really work without effort was changing how I saw the activity. Not so much sitting there just thumping myself with affirmations or that kind of stuff, but it was mental conditioning where I changed how I saw myself and my life and the activity itself. And the same thing goes a long way in trading with your, you know, if you're struggling with certain things about it is maybe, you know, an exercise would be to step back and take a look at, you know, how you view yourself, how you view the markets, how you view the whole activity and occupation of trading itself. And this is a huge part of the mindset, and here's why. Because how you see something, it really dictates how you filter the information that you take in about it and how you interact with that thing. How you view yourself is how you're going to act toward yourself, how you're going to act for yourself, and how you're going to treat yourself, how you're going to approach different matters. And again, it all comes down to how you see yourself, who you are and what you think of yourself, what are your beliefs about yourself. But again, this is all from the perspective of how do you see yourself in your mind? How do you see yourself? How do you see trading? How do you see the markets when you think about them? What do you think when you think about yourself as a trader? What are your thoughts? What are the stories that you're telling yourself? What are your beliefs about yourself? And again, really just what is your mental concept of yourself as a trader? And so you want to ask these questions because these are the things that again, filter how you take in information and also how you perceive the world, how you're going to respond to the world and effectively again, how you interact with the world. And so attending to this matter and really kind of taking some time to really explore this. Okay, yeah, how do I see things when I'm not paying attention to it, when I'm not consciously aware of it, how am I responding? What beliefs about myself or what do my actions and my responses indicate are my perspective on this thing, you know, trading or you know, when you know, what do my reactions to what happens in my trading? How does that reflect on how I see myself? And again, these are good questions to explore because these are what drive your results in your trading and your enjoyment level of it and how you approach it and how you handle things on a day to day basis, how you handle things in the moment. So it's really worth exploring. And again, it comes down to the perspective of, you know, how do you see this? Whether the, you know, whether it's, you know, how do I see myself, how do I see trading, how do I see money, how do I see the markets, all these things and really just go ahead and explore this, this is worth contemplating. And then when you find some things that are counterproductive now you can work on changing your perspective. Now one thing I used to do with my, with my kids when they were young and they get into an argument and they're just really hating each other as siblings sometimes do. One of the best ways I found to get them out of this, you know, state that they were in, where they were just really, you know, not liking each other was I would, I would have them sit down and say, I would say to them, okay, here's a piece of paper and a pencil, write down 10 things that you like about your brother or your sister. And they're like, oh, right. And I'm like, no, I'm serious. And just in that exercise of saying, all right, I'm going to, even though I really am not liking the person that I'm looking at right now, I'm going to sit down and yes, I will figure out 10 things that I like about myself. And so which went in direct contrast to how they were feeling at the moment. But after going through that exercise and listing things out, sincerely, yes, you know, what were, you know, 10 good things about, you know, my brother, my sister, their perspective changed. And again, for a really wicked, you know, wickedly addictive habit like smoking, that was how one of the things that I realized was the core change that made it stick for me was I changed how I saw smoking, how I saw myself as I no longer saw myself as a smoker. And same thing comes along with, you know, business or school or trading or relationships is how you view yourself, how you view the situation, how you, how you view, you know, the other person or the thing that you're interacting with. You know, how do you see it and what comes along with that perspective, that vision or that image or picture, whatever you want to call it. And so take a few minutes and do this once in a while. Again, who was a Marcus Aurelius with the Stoic practices, one of his key things. And he was a busy guy, so don't say you don't have time. He was running an entire empire, the Roman Empire. He would take time every day to, to reflect on things and particularly reflect on himself and how he was, you know, going about his day. He reflected on a lot of different things. But this is again, the point is he had, he took the time to reflect because it was so important for him to maintain himself and continue to grow into the person that he wanted to be, to be the leader and man that he wanted to be. So I hope this been helpful if it has, you know, share it with your friends. You know, subscribe down below. I publish all kinds of different videos about trading and how to be a successful trader, how to be a happy trader that enjoys trading and is successful at it. And it really does come down to being. You have to be the person before you get to have what successful traders have and are capable of doing. What successful traders do, you have to become a successful trader. They'll be do have cycle but it does start with being and being and how you are, how you be, so to speak. A lot of that comes from your mindset and your perspective on yourself and the things that you're wanting to interact with. So that's the purpose of this exercise. Anyway. Again, if you enjoyed this, go and subscribe to the channel. Give me a like down below. Again, share it with your friends. If you have friends who trade and you know they they want to do better with their trading, they could use some help with stuff like this. Go and share this with them. And if you like, swing by insideout trading.com see the logo right? Or the URL right here. Got a variety of free resources for you to help you with the different challenges, you know, that come with being a self directed trader. And you know, I'd love to help you out, help you become more successful in your trading reading. That's why I do this. And again, I hope this been helpful. We'll talk to you soon. Cheers.