Excuses in trading
Sisters Claire and Chloe Groenke are 13-year-old twins, both of whom competed in their prep school running race in Illinois.
A few months ago, they were in trouble for running, and when “Chloe” felt something strange in her leg that made her fall to the ground, and when she tried to complete the race and get up on her feet, she could not run, let alone walk.
At this time, her sister “Claire” realized that “Chloe” is physically incapable of completing the race on her own, so she did a strange unusual behavior.
Instead of shouting for help, she carried her sister, Chloe, on her back and continued running to the finish line, and although there was no chance either of the sisters would achieve a place in the competition except for the last place, Claire nevertheless tried to run and she was She carries her sister on her back.
Just before reaching the finish line, “Claire” gently lowered her sister and asked her to cross the line first. Chloe was alerted to the bigger and more important picture, so they crossed the line together at the same moment. This is an amazing example of losing a race but winning in life, and it’s a reflection of something that plagues novice traders – which is not to make excuses when we encounter obstacles.
Excuses and your trading mindset
When it comes to trading, what’s the most damaging part of your excuses? Is it the fact that you missed an opportunity to sign up for a winning deal? No, is it that you did not fill out your training diary and thus did not learn from your trading mistakes? Both. The most damaging part of making excuses when it comes to Forex trading is how it affects your self-image. Every time you give an excuse and then act on that excuse, you are provoking something in yourself that makes you apathetic and sluggish.
All you introduce to yourself and act on it sends a message to your self-image about how vulnerable you are, how you are unable to accomplish something, and ultimately determines where your ability level is.
This is very harmful because our self-image is one of the biggest determinants of our performance and our level of success in trading, so with every excuse we take, we are not only hindering the growth of our self-image but we are shrinking it at the same time.
Excuses affect performance
We all have the goal of becoming successful and profitable traders. When we analyze the excuse and interpret it as the reason why we do not do something, we reduce our self-confidence, especially in our ability to continue the matter until the end, and when we cannot do it (although we are aware of our ability and potential), we feel frustration that affects Negatively our performance.
Excuses are the result
Excuses in most cases are the product of two things:
1) Lack of proper motivation
2) Unspecified goals
If you don’t have the right motivation and motivation to make a profitable trade or you don’t know the reasons behind your motivations, your (subconscious) mind and limited beliefs will spoil your efforts to do the hard things when the time is right.
This inability to complete what you set out to do is often a reflection of your being without motivation. When you are only motivated to make excuses, you will start to see tangible progress in your efforts and training to accelerate your learning curve.
Also, having unspecified trading goals does not help you reach a clear final stage, and hence the motivational support for successful trading.
The Easy Excuses
It will always be easy to turn to excuses and excuses when we fail to do something or reach our goals. We will always have moments when we feel tired or we feel we are 100% unwell, lacking inspiration, or our trading day is bad, or we do not have the necessary money, the time, the right genes, or the great experience and the list goes on …
All of the above can be done in one second and will not require any effort at all.
Before 6 a.m. and -40 degrees Fahrenheit
I cannot say that I really like waking up before 6 am every day, sometimes it is wonderful waking up and sometimes I feel very tired, and in those last moments it is difficult to get out of bed and very easy to stay in under the warmth of the blanket.
Fortunately I have had various training since I was little (American football, martial arts, yoga, meditation, Forex trading) that I adapted to “just do it” and wake up when the temperature was -40 F at the age of eleven during the winter in the city. Chicago “It wasn’t easy at all, but working towards a goal and accomplishing something during the hours of the day was 99% of the time much better than doing nothing.
It is true that getting up on that day wouldn’t have made me a professional trader, martial arts skilled, or American football player, but every step helped me strengthen my skills and enhance my self-image. Do this long enough and in the end you will feel as if you can overcome almost any obstacle.
Something successful traders and people have in common
One thing you’ll notice among very successful traders and people is that when an excuse comes across, they look for ways to skip it and complete their task. Their outlook and long-term vision are much more important than short-term discomfort.
They focus on the solution, thus constantly directing their minds towards searching for the answer, and this focus on the search for a solution, while focusing on practical steps helps to improve the performance of the brain and prepare your mind for success.
Successful merchants and people do not leave much room for excuses and excuses to leak out, even when those excuses rise to the surface, they usually meet them with discipline, focus and momentum to move forward.
Overcoming is …
Remember that overcoming is the currency of success. Hence it is very important to be solution focused when facing the challenges and difficulties that you face