Tuesday, February 09, 2010

Choose Not to Fall

"If You're afraid to fall, then you fall because you're afraid."
-- Daniel ILabaca

Read Full Post.....

found this video courtesy of @FuturesTrader71:

Fear of failure. This is an issue that occurs with many traders. The first time it happened to me, I took time off from trading. Now I think it is happening to me again.
To my knowledge, the recipe for dealing with such fears is to change my attitude. The primary concern should never be about being afraid to fail. As a trader, the primary concern should be about dedicating yourself to this craft, stalking the next setup, planning out your next trade, visualizing how you will perform when it really counts. The next losing trade is always going to be right around the corner, there is nothing that can be done to change that, therefore, there is also no purpose to be served in fearing it, or worrying about it. All paths towards the goal of consistency always goes through the facets of patience to wait for the right time and the right price to execute trades according to plan, and discipline to execute your plan in the same way, every time, day in, day out.
I think this is my interpretation of "living in the moment." Flush my mind of destructive thoughts, and replace them with constructive thoughts.
So it shall be with me, as I try to replace thoughts of fear of failure with thoughts of how I am going to plan and execute my next trade.

No comments: