Your ability to develop high self esteem is a major key to good trading, yet most traders lack in this department without realising it.
Lack of high self esteem causes poor trading performance. You are at the mercy of your emotions, unaware that the power is inside you to change. Poor self esteem is part of our upbringing. It’s the result of our conditioning, religious beliefs, and a misunderstanding of our inherent power.
In other words: We have been trained to believe that we cannot do something. This of course is an utter lie, as many studies have proven:
The beliefs we hold about ourselves are the product of our environment.
A supportive, nurturing environment conducive to developing resourceful beliefs will make you successful in anything you do. Our conditioning is so deeply imbedded that it has been erroneously assumed that it is part of our DNA.
Science discovered only very recently that our DNA is not fixed, but can be changed.
High self esteem can be learnt:
It requires self knowledge and practice.
The first step: You must unlearn some “truths” about yourself.
Here are some typical beliefs pointing to low self esteem:
Trading is hard
I am a slow learner
I lack patience
I am not quick enough pulling the trigger
I am afraid of losing money
The markets are manipulated
I make too many trading mistakes
My broker is unreliable
The markets are difficult to trade
I don’t have enough money to make a living from trading
I could go on. The excuses traders come up with are endless. They cause us to think that our reality is fixed and therefore difficult to change.
What you believe to be the truth about your limitations is actually no more than a well trained thought. Thoughts can be changed, and change they must because:
If you lack high self esteem you will invariably think like a victim
The habit is so deeply engrained in our psyches that we don’t notice that we have it. The real challenge is finding ways to bring these limiting subconscious beliefs to the surface and transmuting them.
The three best ways to hone high self esteem are:
# Gain self-knowledge through guided meditation.
# Learn about universal law
# Set a daily mindfulness practice where you explore your limiting beliefs and hidden value conflicts,
Our minds are very clever in disguising the truth from us. Your trading will reflect what is going on in the deepest cesspit of your mind.
Once you unlock the high self esteem which everyone should have and can have you will be amazed how easily your inner success genie pops out of the bottle.
The above isn’t rocket science. You have probably heard or read it all before. It’s a fact that most of us lack high self esteem.
The difference between those who develop high self esteem and lasting trading success is action. Start today and learn new information about yourself and how the universe really works.
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