Kardec Trader argues that urgency to make money now is what stops traders from making money. Outcome-focused goals trigger emotions that lead to chasing bad trades, while top traders use performance goals: controlling mindset, patience, discipline, and execution instead.
What's the biggest obstacle to your actually making money in trading? We start out with a really big desire and a goal to make money. And we get into, we get into the actual act of trading and we have this desire to make money now. And you would think you should, right? The answer is not when trading. There's a powerful paradox here that I'd like for us to explore. The key is you have a goal of making money. In fact, you may have a goal of having to make money because your capital is running out, your time is running out and there's an urgency to make money. Now you get that, that's important because when you hear that make money now, the urgency, that very urgency is going to take you out of the capacity of trading. Well, look at it this way. All thinking, all perception is emotional state dependent.
Just think about it. If you have an urgency, you have a desire to make money. Now can you feel the urgency to trade? That's going to set up chase.
You're going to end up chasing trades. You're going to get into trades that you really shouldn't be in yet. You're going, but wait, wait, wait. I need to be making money. I have a goal of making money. Why would I be trading if I didn't want to make money? That's the point. You have an outcome goal of making money. What I'm asking you to recognize is that there is a difference between an outcome goal that you're thinking about going, yeah, I have a business plan. I need to be able to make money over a period of time and I need to be able to start supplying my lifestyle. I have these goals of financial independence and personal independence. Yet if you take that goal and use it as a driver in performance of trading, it whacks you up. In trading, ultimately you cannot control winning or losing.
Okay? How many times have you done everything right and you're still wrong? Lots of times. It happens in trading. That's why you control the amount of loss you have. But what you've done is you have brought in that particular kind of thinking rooted in the urgency and the desire to make money. Okay? And a fear of, oh my God, if I lose, I'm going to be washing out here.
However, you can't control the outcome. So a desire to make money now is not an efficient way for you.
To be building a mindset that actually performs in trading. Because ultimately.
The mind that you bring into trading for the performance, that's the only thing you can control.
If you have an outcome goal driving performance, you're sunk in trading. It may work in sports, it may work in business, it may work in corporate, but it's not going to work in trading. What you're looking to do is to have a performance goal that you can and truly, truly control. And what you can control is the mind that you're bringing into the moment of performance. You can control the process that you're executing. That's what the great traders are doing.
They've let go of trying to control outcome, of trying to win trades. They know that, that if they perform well, that they will have an edge in the markets. That edge is going to allow them to take care of the money. They will win money. But their focus is not making money now. What their focus is is how well am I performing in this moment now, am I bringing the mind that can be cool, patient, disciplined, focused, alert.
Very patient into the moment of trading so that you're in control of the one thing that you actually can control. And the one thing that you can control is your performance that you can control. A really great trader is looking at it and going, he's looking at a trade and he's going, okay, well, win or lose, you know, how well did I perform?
If he performed well, he won. He's done everything that he can, and he knows that as long as he maintains that performance level, the money's going to take care of itself. That's the trick. He's no longer in a point where he's not really even thinking about winning and losing anymore. He's thinking performing. Do you see the power between those two different concepts?
Ultimately, you gain power by recognizing you're powerless over whether or not you make money or not. And you gain power by recognizing you can control performance. It puts you in the place of having the edge. If you have your platform, if you have your methodology, and you have your psychology all on the same page, you in fact have the edge. And you have the edge to be able to extract capital out of the markets. But your focus is not on making money. There's not an urgency to make money. A great trader will sit there and watch trades go by, but they don't fit setups. They don't. You know, the thing is, they're not going to get in, do stupid trades. They're not going to try to make money. They're going to wait for the trades to come to them. They're going to control process. That's the difference. Friend. I want you to see the paradigm shift. The paradigm shift between being driven to make money and getting whacked up because of it. Because you end up chasing trades, you have this urgency to get in and do something versus controlling process, where patience is what the deal is, that you wait, you see the trade come to you, you say, okay, that meets criterion, you get in, you manage trade, you manage the process of the trade, the only thing you could control anyway. And that in fact gives you an edge. Because if you're not controlling the process of the trade, then you're gambling, you're letting go of the strength that you do have here in controlling process and focusing on what mind am I bringing to this moment of performance Right here, right now, you're focused on execution, you can control that and that gives you the edge. That's what the newbies, that's what the scratch and that's what the blow up traders don't get. And the question is, how do you go about learning that?
Come and look at our materials and we'll show you how you develop the mind that manages performance and lets go of this goal in the moment of making money. You got it. Come to my website, let's take a look, really study and see what you find there. Have a great day.
Ra.
