Overcoming your psychological issues as a trader is the key to becoming a successful trader. My last few articles have explained how you can begin overcoming your psychological issues but you also need to overcome your own doubts. These doubts will prevent you from becoming the trader you want to be.
Overcoming Your Psychological Issues as a Trader – DOUBTING YOUR ABILITY
While it is quite normal to have doubts over achieving your dream, don’t give in to these doubts. Write them down and discard them in the trash just like you did with the beliefs that were not your own. Find stories where the impossible did happen and put them on your wall to remind yourself that anything is possible.
Your job is not to decipher what is probable versus what is not. Your job is to ask and believe.
If we learn nothing more from history, we should learn that nothing is impossible. In fact, historically, the impossible often turns out to be the possible. Here are just a few examples:
- When Benjamin Franklin was performing experiments in electricity, most people believed him to be crazy. Yet, he did it. He even invented words that were never used before like negatively, positively, conductor and more.
- When Thomas Edison was inventing the light bulb, people doubted it would work but it did.
- When Alexander Graham Bell tried to sell his patent to the President of Western Union for $100,000 they laughed at him and his partners thinking it was a mere toy. Two years later, the President of Western Union was willing to pay $25 million but they would not sell.
- Archaeologists are amazed, even today, with China’s terra cotta ghost army which is over 2,000 years old. In fact, most experts agree that the weaponry discovered is amazing even by today’s standards.
- Woman wins the lottery not once but twice.
- A homeless man wins the lottery.
The list can go on and on. However, one thing is certain. If you allow doubt to take over, then you will overcoming your psychological issues as a trader.