By: Louise Bedford On: August 25, 2017 In: Expert Advice, Most Popular, Trading Mindset Comments: 0

 

I know one of my key money blocks – it’s complexity. When things get too complicated in my life, it usually means that I am under pressure, and I’ve stopped saying ‘no’.

‘No’ to adding just those extra 5 pages to my trading plan.

‘No’ to learning about that new market that trades 24 hours a day, which doesn’t fit in with my family values.

‘No’ to the time vampires around me, wanting to suck my most precious resource out from under me.

What’s blocking you from money today?

What’s going to make you the most money with the least effort?

That’s where you want to head.

Complexity, be damned.

I hope that as I write today, that my words seep into your heart and help inspire you to see the world differently, BE in the world differently. I hope that in my words, you can see yourself, as your BEST self. Focused, disciplined, kind you. The powerful trader, you.

There’s a reason why these words found their way into YTE today. I wrote them for you.

I want you to keep reading, absorbing, pushing, challenging.

I want you to be the best trader you can possibly be, revelling in the freedom that this brings you, making life choices based on desire, not need. But sometimes you have to draw your inspiration from sources that aren’t just trading related.

Inspiration from an Artist

I caught up with the lovely Leanne Savory, now a full-time trader, who did our Mentor Program in 2003.

Leanne, being the clever trader that she is, has cultivated a hobby – oil painting. Because traders end up with quite a bit of spare time on their hands, it’s essential to find other interests. Without ‘fun’ outside of trading, you’ll end up tinkering with your trading plan and no good will come of that.

Leanne’s painting instructor had some great advice. He said: “Ignore the things you don’t like about your painting, and just add to the things you like. Ultimately, your canvas will only be filled with things you like”.

Focus on the things you are doing well.

All of the things you’re not doing well will fade into the background. Your strengths will guide you, and be ‘enough’.

Heck – you are ‘enough’. You have within the essence of a great trader. It’s just a matter of ignoring your weaknesses and focusing on your strengths.

Do this repeatedly, and you’ll be left with only the parts you like about yourself, and the parts you don’t like… well, they’ll just fade away. One of the ways you can maintain your focus is to develop a personal manifesto.

Your Manifesto

What’s your personal manifesto for today?

Here’s mine – direct from the pages of my morning journal. Feel free to borrow the parts that appeal to you.

“I create my own safety.

I am my own role model.

I am the one I look to for inspiration.

I am capable.

I will be bold, not mild today.

I will confront head-on and reap the rewards and confidence this brings.

I am not my past.”

By developing a manifesto to guide your trading, and your life focus, you might just find that you’ll be well underway to creating your best work.

Is This Your Best Work?

Years ago, when I had a real job managing staff, I used to ask them a question when they handed in work. I asked them “Is this your best work?”

Therefore, I was making sure that they were not only excelling at the task, but I was also getting them to take pride in their accomplishments. Plus, there were many times they’d clutch back their work assignment from my hand at that point and tell me that they just had to add a few finishing touches, and then I could have it back.

So – how about you?

With the efforts you’re making to learn about trading… “Is this your best work?”

You have to please yourself first and foremost. Comparison with another trader’s best work can get you down. Sure, there is a time and a place to compare, but you have to put this into context (read at the bottom of the article).

Fear of missing out is taking over our culture. With so many people showing their highlight reel on social media, while you’re going through the grind – it’s hard not to unfavourably compare yourself with others. Their bright shiny example of life may be leading you to think you’re coming up short. Plus, some of the comments on social media are pure venom. Don’t take for granted all of the goodness in front of your face, and focus on the foolishness behind your back – or on your facebook newsfeed.

Have a think before you go to sleep tonight “did I do my best work today?”. Once you can answer ‘yes!’ without hesitation, it won’t matter what others are doing in their lives.

It won’t matter if they’re on holidays, while you’re huddled over your computer working on your chosen profession of becoming an effective trader.

It won’t matter if their children are so witty and clever that they’d put Einstein to shame.

All that will matter to you is that you’re living your best life. It’s not just the current version of ‘you’ that you can learn from either. What about the future version of you?

The Older ‘You’ can be your Best Mentor

Visualise who you will be in 10 years or 20 years. Picture that person in detail.

Where do they live?

How do they behave?

What sort of life are they living?

What are their values?

You’ll be drawn to your ideal life if you look to your ‘older you’ for guidance.

If you met your ideal you… your older mentor… face to face – what advice would they have for you today?

What path would they suggest you get set on today, so you can become your best ‘you’ in the next decade?

Write down your answers. I think they may surprise you.

The Convenience Happiness Technique

One of the truths about habit formation is that things must be convenient for you to do. If you have that exercise machine already set up in front of the TV, I’ll bet that you’re more likely to use it, in comparison to if it was stored under your bed.

The fact that it’s already set up means you’ll be more likely to use it.

Have a think about how you can make trading more convenient for you. If your desk is messy, so you can’t spread yourself out… or if you haven’t got a convenient icon set up on your computer desktop, so you’ve got to do 3 button clicks to find it… you’ll be less likely to trade.

Every aspect of your life can be made better by making sure that things are more convenient.

Put some early effort into organising things around convenience now, so you can stay true to your best habits.

Final Thoughts

If you want care… you must give care.

If you want love…. you must first give love.

If you want companionship… you must first extend the hand of friendship.

If you want profits… you must first invest in your own education.

American poet, John Greenleaf Whittier, stated: “For of all sad words of tongue or pen, the saddest are these: It might have been.”

The rest of this year can be whatever you want. Don’t let any more time go by where you aren’t inspired to cash in on everything the markets have to offer.

Comparing Yourself?

Are there some arenas where we should compare ourselves with others? To this, best-selling author, Louise Bedford, says: “Hell, yes!”

Louise feels that we need to look outside of ourselves to be inspired. Here is her list of how to do this effectively.

Do this:

  • I compare myself in terms of vision and inspiration. There’s an osmosis effect where I can learn about the big thoughts of another, and then have big thoughts of my own.
  • With a limited group of successful traders, I compare techniques. There are some things that work in the markets, and some things that don’t. Keeping the graduates of our Mentor Program close…, as peers…as fellow traders in the same ditch ready to fight our way out – well, that’s productive. They’ve tried things I haven’t, and many have helped me develop short cuts.

Don’t do this:

  • Don’t compare yourself in terms of popularity. The person with loads of friends may not be experiencing intimacy.
  • Don’t worry about other people’s material assets… the car, the house, the boat. All of these are useless sources of comparison. How does ‘success’ look for you? What you’re seeing in others is the outward manifestation of what they believe success looks like for them.

Together we stand strong. Alone you’re vulnerable.

Work out how to – look, admire and then emulate.

Careful who and what you emulate though. Most people are doing the exact opposite of what it takes to excel in the trading world.

Louise Bedford (www.tradinggame.com.au) is a full-time private trader and author of several best-selling books including –The Secret of Candlestick Charting, Charting Secrets and Trading Secrets. To pick up her free trading plan template, register on her website and she’ll send it to you straight away.