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Trading Any Market

Trading Trap, Failure To Truly, Madly and Deeply Believe In Yourself

InvestorEducation / Trader Psychology Oct 16, 2009 - 01:57 PM GMT

By: Dr_Janice_Dorn

InvestorEducation

Best Financial Markets Analysis ArticleMagic is believing in yourself. If you can do that, you can make anything happen...
Johann Wolfgang von Goethe.

This trap is deceptively simple because most people, when questioned, say that they totally believe in themselves and deserve to be successful as traders.


Yet, when you expose the majority of people to the myriad of real time decisions afforded by the market, this belief system reveals how fragile and fleeting it is, and begins to fall apart. Traders spend more than 90 percent of their time thinking, questioning, doubting, reassessing, struggling to keep focused, being whipsawed by emotions and just plain worrying if they are doing or not doing the right thing. What part of any of these activities reflects authentic belief in oneself?

When I say believe in yourself, I am not talking about superficial muttering for the sake of political or social correctness. I am talking about a deep-seated, absolutely incontrovertible and unshakeable belief in yourself as a consistently successful trader. This is among the most difficult challenges you face because it requires you to construct an adequate and realistic self-image and then use that image to propel you to achieve your trading goals. It is like making a movie of yourself or setting the stage for the most eloquent performance of your life.

More than that, it requires that you go deep within yourself to those messages which were given to your limbic rat brain memory at an early age. Many of you can identify with these messages. They may be hurtful, painful and very deep-seated. How many times when you were growing up did you hear the word “No?" How many times were you told that you were bad because you did this or that, or you would be punished if you did not say things in a certain way, and all of the horrible things that might happen to you if you disobeyed or did not listen? How many times were you told that you would never amount to anything and that you were just plain not good enough?

These limbic rat brain memories are intensely powerful and also very sneaky because many of you have spent your lives hiding from them or denying them. Because few want to admit that they harbor massive insecurities, they act out their lives in such a way as to make these messages self-fulfilling and then sit around scratching their heads and wondering why they are not getting anywhere or why they are failing to achieve their goals. In essence, what people are doing in this situation is affirming the negative messages stored in their brains. If your self-image is one of shame, guilt, anxiety and insecurity you will sabotage your trading IN ORDER TO LOSE. Yes. You will set yourself up, just as more than 50% of traders do, to actually lose. This then reinforces that you deserve nothing good and deepens the shame and self-contempt. I know it's not easy for many of you to hear this, let alone wrap your brain around it as it applies to you. But, you must be strong enough to do it, because it means the difference between failure and success in your trading and your life.

What do you do about this? It's simple, but not easy. You must reprogram your brain with new messages about yourself. You must literally begin to see yourself as successful, confident and powerful. You do this by making new mental images, by re-etching your limbic system with messages of empowerment. Make a new movie of your life, with bright and colorful pictures of joy and unlimited success and happiness.

Some people do this through constant and unrelenting affirmations which they practice on a regular basis several times a day until the messages get through. It takes approximately 21 days of consistent and dedicated practice to change a habit. It takes 21 days of constant, dedicated repetition for one positive message to get entrained into your nervous system.

What is required to change your belief system about yourself is to truly see yourself as successful. It is like taking a photograph of yourself right now and then stepping back and looking at how you would like it to be if you were living up to your full potential. For beginners, try this simple experiment: Right now, pay attention to how you are sitting in your chair, the look on your face, how your shoulders are positioned, your posture and demeanor, and how you are feeling about yourself. Be radically honest about it. Take a snapshot of it in your mind. Now - stand up and walk away from the chair to the other side of the room. Look at the empty chair and picture yourself sitting in that chair as the person you would like to be. Picture how you would look and feel if you had everything you wanted. Keep taking snapshots of success in your mind. Keep doing it. Now, walk back to your chair, sit down and be that snapshot of success and fulfillment and true esteem of yourself. How does that feel?

This is the beginning of neurological entrainment of positive affirmations. . This is the start of believing in your ability to do anything you want to do. This is the start of your new truth which you will etch onto your brain one day at a time as you master your mindset on the way to full realization of your true and authentic self as a powerful trader and human being. You are more powerful and precious than you will ever know. Everything that you truly are, you are now becoming. It works if you work it, so make it work now. Lights, camera, action...Go for it. You can do it, and you deserve it!

Some people say I have attitude - maybe I do...but I think you have to. You have to believe in yourself when no one else does - that makes you a winner right there...
Venus Williams.

Until Next Time,
Good Trading and Brain On!

By Dr. Janice Dorn, MD, PhD
Prescriptions for Profits
www.thetradingdoctor.com

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© Copyright 2006-09 -- Janice Dorn, M.D., Ph.D. -- Ocean Ivory LLC

Dr. Janice Dorn is a graduate of the Albert Einstein College of Medicine, where she received her Ph.D. in Neuroanatomy. She did her postdoctoral work in Neurophysiology at the New York Medical College. She received her M.D. from La Universidad Autonoma de Ciudad Juarez, did one year of clinical clerkships in Phoenix, Arizona. and then completed a Neurology Internship at The University of New Mexico in Albuquerque. For the past twelve years, Dr. Dorn has focused her attention on trading, mentoring and commentary in the financial markets, with emphasis on Behavioral NeuroFinance, Mass NeuroPsychology, Trading NeuroPsychology, Futurism and Life Extension. A graduate of Coach University, she is a full time futures trader and trading coach.  Dr. Dorn is the author of over 300 publications, relating to Trading and Investing Neurouropsychology, Market Mass Neuropsychology, Behavioral Neurofinance, and Holistic Wellness and Longevity. 

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