Reading A Book About What You Should Be Doing – Sure, when you read a book that tells you the horrors of trading with reckless abandon, concluding in the suggestion that you need to be more disciplined with your trading… you’ll walk away saying to yourself, “The author is right! I have to be more disciplined!” Then what? Unless you are given the tools to change your trading habits and SUPPORTED in using those tools, you’ll just wind up frustrated with the fact that you’ll remain the same out-of-control trader!
Learning From Your Mistakes – If you only analyze your trading mistakes on the conscious level and your subconscious mind is still on the same old program of “I’m likely to make another mistake again”, then nothing will change. You see, 90% of the power of mind is wielded by the subconscious mind…which can work for you or against you. So it’s IMPERATIVE to have your subconscious mind working FOR you.
Learning from your mistakes on a conscious level will do little to change your trading habits. In fact, the result will just be more frustration.
Talking To Other Traders About How Tough The Market Is – Misery loves company. It’s easy to twist the truth. Somehow, you and your trading “friends” twist the truth to make the MARKET responsible for your losses, not you. Until you take responsibility for ALL of your trading results, you and your trading buddies will just go round and round… then downhill.