Updated: Sep 5, 2022
Pain teaches you more than pleasure.
Failure teaches you more than success.
Adversity teaches you more than comfort.
You have to face your pain and mistakes head-on.
You need a process and a system to track where you’re going wrong and create actionable steps to improve. If you don't have a process then how to can you improve?
What you will begin to learn as you grow as a trader is having a process for everything is what will separate you from the 95%.
But how I hear you ask? Well, I’m going to break it down for you right now.
You need a process and a system to track understand and create actionable steps.
Today I'm going to show you a super simple but powerful process you can implement right now to get started in turning pain into growth!
It all starts with 3 questions: What? Why? and How?
1. What’s the problem?
2. Why do you have it?
3. How can I stop it?
What’s the problem?
What’s the problem? To find this out you first need awareness of what is causing the pain
This is where journaling and tracking come in so you can track when your mistakes and triggers happen.
Why do you have it?
Why do you have it? This is when you need to go deeper into your belief systems and find out where they come from for example it could originate from family or major life experiences.
How can I stop it?
How can I stop it? Now it’s time to get creative, how can you stop it from affecting your trading?
There are 2 ways that I like to call the counter methods which are:
1. Physical blocking
2. Mental reframing
A Physical Block -
This is exactly what it sounds like, you create a method to physically remove you from the trigger.
For example, this could be closing your laptop for a set period to prevent you from messing with the trade.
You are ‘physically’ removing yourself.
Mental reframing -
This is where you work on the emotion to be able to reframe in the moment to prevent the trigger.
This requires more discipline but is far more effective in the long term as you are no longer hiding the problem but now you are facing the problem head-on.
This takes a bit more work and I go into much greater detail in my book ‘The blueprint to trading psychology.’ And how I use specific processes to do it.
But what this basically comes down to is taking a look at your belief systems and seeing how these beliefs have created an auto-serving mechanism that directs how you think and react unconsciously.
Just like a computer with lots of programs running in the background, it's the same with your unconscious beliefs.
But with the methods, I teach in the book you now bring them to the forefront and dissect them, prove them wrong and reinstall new empowering beliefs which then creates the power to reframe in the moment.
Using these methods will greatly impact your trading and help fix whatever problem you're facing. The best thing is it can be implemented TODAY! So get cracking!
So there you go traders a quick breakdown of how you can begin to take control of your trading using the 3 stage process and counteracting steps.