Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
The Three Parts of Your Trading Mind
In this weeks lesson for the Advanced Traders Mindset Course, we went through a very important topic for building a successful mindset. We covered the three parts of your trading mind, addressing some of the critical topics below;
1) how these three parts relate towards your trading performance
2) how you can tell if these three are in balance
3) why the training you are doing isn’t going to work
4) what part of your mind creates each trading mistake you make
5) how to fix analysis paralysis
Lamentably, most traders failing to achieve consistency or profitability are not working on all three parts of the mind. Most likely they are working on one part.
This creates an imbalance, and thus when you need to pull the trigger – you hesitate, get nervous, fearful, worry, experience doubt, have analysis paralysis, or any combination of those, and thus never hit the button.
Most likely, you end up watching the trade activate as you planned and hit your profit target with relative ease. The common response from here is frustration, regret, anger (towards oneself/market), and probably a host of other things.
The reason why you have this experience repeatedly, is because you are training only one part of your mind.
This is done mostly via watching the market, doing ‘analysis‘, reading trading books, watching trading videos, basically stocking everything up to the ‘thinking-analytical’ part of your mind.
What you are missing is the other two parts of your mind which a) likely need training, and b) are probably imbalanced since you put 90% of your effort into only one part.
The result is…well you know what the result is…it’s the current state of your account, it’s the inconsistency, the repeating of the same mistakes over and over again, the inability to maintain any profits, discipline, or control your risk.
My teacher uses the phrase, ‘putting a big foot into a little shoe‘.
If you are putting something quite large (the mind/your trading mindset) & trying to stuff it into a little shoe (thinking/analytical part of your mind), the result will not work out as planned.
If you’ve experienced analysis paralysis, are still repeating the same mistakes, can profit for a few weeks, but then blow it all up in a few days, you are not alone.
The good thing is you can change this. You can re-wire your brain for trading success. You can learn to train all three parts of your mind.
We covered this in a 1+ hour video in our Traders Mindset Course. Registration closes April 2nd (2015) and we’ve already filled over 150 seats in the last few days.
To learn more about the Adv. Traders Mindset Course and how you can get past your biggest challenges in trading, click here.