Trading until mastered, blocks the development of your potential. To develop as a trader,
you need to be able to confront fear to change your pattern of reacting to an uncertain
world. Your brain is a negative assessment machine that does not distinguish uncertainty
from fear. It’s organized for avoidance, and trying to keep you in your comfort zone,
which is the familiar. It forms self-fulfilling patterns based on the avoidance of fear and
uncertainty. These patterns are set on “cruise-control” and dominate your state of mind,
forcing you to trade from avoidance and greed rather than calm impartiality.
The best way to get started in gaining control of your emotions
is to label your fears:
1.Fear of uncertainty (hesitation)
2.Fear of loss (pulling the trigger at the wrong time)
3.Fear of missing out (impulse trades and exits)
4.Fear based urgency to make up for prior losses (revenge trading)
5.Fear of not being right (making a mistake)
6.Fear of inadequacy (not feeling that you’re good enough to trade)
7.Fear of self-sabotage (blowing yourself up)
8.Fear of success or failure
9.Fear of growth and change (moving out of your comfort zone)
Which one of these fears drives your trading? If you’re honest with yourself,
you may have experienced most or all of these fears at some point in your trading
you need to be able to confront fear to change your pattern of reacting to an uncertain
world. Your brain is a negative assessment machine that does not distinguish uncertainty
from fear. It’s organized for avoidance, and trying to keep you in your comfort zone,
which is the familiar. It forms self-fulfilling patterns based on the avoidance of fear and
uncertainty. These patterns are set on “cruise-control” and dominate your state of mind,
forcing you to trade from avoidance and greed rather than calm impartiality.
The best way to get started in gaining control of your emotions
is to label your fears:
1.Fear of uncertainty (hesitation)
2.Fear of loss (pulling the trigger at the wrong time)
3.Fear of missing out (impulse trades and exits)
4.Fear based urgency to make up for prior losses (revenge trading)
5.Fear of not being right (making a mistake)
6.Fear of inadequacy (not feeling that you’re good enough to trade)
7.Fear of self-sabotage (blowing yourself up)
8.Fear of success or failure
9.Fear of growth and change (moving out of your comfort zone)
Which one of these fears drives your trading? If you’re honest with yourself,
you may have experienced most or all of these fears at some point in your trading
