Identifying negative core beliefs in trading is critical if you want to be a successful trader. Otherwise, if you accept these beliefs as the truth, they filter into the subconscious mind and actually sabotage your trading because the subconscious mind is your servant and you are asking for failure. The subconscious has no reasoning power — it only does what you ask of it. The good news is that you can change from negative core beliefs to a positive core belief with practice.
Identifying Negative Core Beliefs in Trading
Most of the time, these negative beliefs are impressed on us through our surroundings — family, friends, teachers, and everyone that we associate with in life. For example, if you were bought up with the philosophy that money is evil. That is a belief that has been imposed on you by others around you. This belief, “Money is Evil” filters into your subconscious. Your servant, hears “Money is evil so make sure it stays away from me”. Then when you take a trade, the subconscious ensures that you pick the worst ones that will only lose money because “MONEY IS EVIL”.
To begin the change, you must identify the negative core beliefs and change them. Here are some really simple steps for identifying how to identify these negative core beliefs. While you may be a skeptic, if you are still losing money in trading, what’s the worst that happen? Maybe trying something different is exactly what you need.
- Keep a pad and pencil nearby.
- Whenever a negative thought pops into your head, write it down.
- Examine the thought for accuracy. (This is really the hardest part.)
- What does the thought mean to you?
- Is it true for you?
- Does it belong to you or someone else?
- Does the thought intensify depending on your mood or whether you had a good or bad day?
In my next article, I will show you how to change your negative core beliefs in trading into positive core beliefs.