The things you say to yourself is often what is done.
Jim Carrey, a Canadian-American actor, is known for his faith in positive affirmations and thoughts. Before his success, Carrey boldly wrote himself a cheque for 10 million dollars for acting services rendered, dated 10 years in the future (Thanksgiving 1995), and kept it in his wallet. Just before Thanksgiving 1995, he discovered he was cast in the movie Dumb and Dumber for 10 million dollars. His thoughts and affirmations were so strong he eventually realised his dream.
Most successful people have credited positive affirmations to their accomplishments.
Where focus goes energy flows – Tony Robbins
Affirmations are short, positive, statements helping to retrain your brain to eliminate negative thoughts and create positive change. They’re essentially intentional thoughts, rather than reactive thoughts in response to things occurring throughout the day.
To take time, almost in a meditative fashion, to decide what thoughts you want to have, and what beliefs you want to instill, help in trading, and everyday life. You essentially become your own personal motivational speaker, reprogramming your subconscious mind through self-talk to focus on the right things, ultimately drawing towards successful trading.
I Am a Successful Trader
Repeated daily, preferably before the trading day begins, instills an emotional drive, pushing you to fulfill the statement’s objective.
However, just repeating it to yourself void of passion is unlikely to have an effect. The desire, a strong desire, to become a consistently successful trader must be present.
You should be able to clearly visualise yourself as a professional trader, engaging with the financial markets, and building your online trading account.
I Respect and Follow My Trading Plan
Without a trading plan, you’re driving blind.
A trading plan (or sometimes referred to as a trading system) is there to guide you through the emotional challenges trading can inflict. It also helps underline the fact trading is a business, and not a hobby or a game.
Part of becoming a consistently profitable trader is learning to respect rules in your trading strategy (a component within the overall trading plan), an incredibly difficult hurdle for many traders to overcome when money is involved.
Your trading plan decides what a good trading opportunity (trade setup) is, and includes guidance on risk and money management.
So, repeated daily, with meaning, the statement: I respect and follow my trading plan, helps embed the fact your trading plan’s rules of engagement must be observed.
I Embrace a Patient Approach
Having the discipline to exercise patience in trading is often problematic, based largely on reality trading involves an emotional bond between financial gain and loss, coupled with winning and losing.
Patience means letting the market come to you rather than chasing price. Patience is accepting that trading is a business with long-term projections. Patience is not closing out profits too early through fear. This takes discipline to implement.
To master the art of patience in trading takes time. Repetitive statements designed to implant this practice helps cultivate patience into a habit.
I Maintain a Trading Journal
A trading journal is a powerful tool. It records your trading journey.
It is in place to aid direction, ultimately guiding us to become better traders. It represents an account of your trading activities – the trades you took, the reasons why you took them, and your emotions before, during, and after. These points are unlikely something you’ll remember without a journal.
It helps identify strengths and weaknesses, both in your trading approach and trading psychology. It will monitor things such as whether you follow your trading plan or whether you’re emotionally charged when in a trade.
Deprived of a journal, you could remain stable in your approach. This applies to successful traders as well as newer entrants. Consequently, it is crucial you follow this daily affirmation and enforce journal notes.
I Believe in Myself
Belief in yourself is key in everything you do in life.
The absence of faith in your ability will ultimately hinder the aforementioned affirmations. For example, without belief in yourself, how can you believe you’re a successful trader?
Just repeating the affirmation that you believe in yourself, however, is not enough. Hard work is necessary to achieve this belief, whilst at the same time, it will, for us traders, improve trading results and trading skills.
For that reason, this is an important daily affirmation. Repeat it to yourself with purpose.
Trading is warfare – not with the market – with yourself.
Daily affirmations are purposely repeated in the present tense, rather than future tense. We want to believe we are a trading success, not in the future, but now.
Use a list of daily trading affirmations to instill the right thoughts, cultivating a healthy and successful mindset, primed to take on anything the Forex market throws your way.
Have belief in your abilities. Strive to work hard to become the Forex trader you know you can be.
The information contained in this material is intended for general advice only. It does not take into account your investment objectives, financial situation or particular needs. Zero Markets has made every effort to ensure the accuracy of the information as at the date of publication. Zero Markets does not give any warranty or representation as to the material. Examples included in this material are for illustrative purposes only. To the extent permitted by law, Zero Markets and its employees shall not be liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided in or omitted from this material. Features of the Zero Markets products including applicable fees and charges are outlined in the Product Disclosure Statements available from Zero Markets website,www.zeromarkets.com and should be considered before deciding to deal in those products. Derivatives can be risky; losses can exceed your initial payment. Zero Markets recommends that you seek independent advice. ZERO Financial Pty Ltd (ZERO MARKETS, ABN 72 623 051 641) is an Authorised Representative (no: 001273819) of First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFSL 286354).