Show Notes

It is not what happens to us that truly matters. It is how we approach these situations that will determine how far we are able to go.

All traders have to deal with setbacks, negative talk from others, great successes and challenging disappointments. For each of us to continue to grow in our proficiencies pertaining to trading, we need to set our standards high and then hold ourselves accountable.

Do we stand firm to our standards, goals and objectives? Or do we constantly change looking for the magical strategy or process that can possibly make us wealthy overnight?

The great traders are constantly growing a little bit each day. They take the successes with the challenges and learn from both. Don't allow someone else to set your standards.

Take in all of the information you can and then set your standards. set your goals. chart your path and go forward to new achievements.

Show Notes

What separates the successful individuals from those that struggle?

When you review the times that you have not received the results you expected, it is very possible that you veered away from your program, your strategy, your money management and/or other areas.

Why do we do this when it seems that the majority of the time this results in frustration and losses? The strongest aspect of our trading results as well as many other areas of our lives focuses on self-discipline.

We understand the foundations of our plans. We even fully believe in them, yet when we get to the actual implementation of these plans, we often decide to change our course of action due to a snap decision.

We need to investigate our levels of self-discipline in the many areas that surround our business actions and also our day to day life skills.

By seeing the areas that we have strengths and keeping them on a path of growth along with honestly working on those areas that need strengthening, each of us will see a higher level of proficiency in all that we do.

Show Notes

When the market becomes volatile or a series of trades produce loses, it is easy for us to become fearful.

We then start to verbalize excuses as to why we even executed those trades or why we use the trading strategy that we use or any of a long list of items.

For all of us as traders to continue to grow, we need to develop a better way to address these situations. The foundation for this is analysis.

If we will be honest and look at the entire situation, generally we had executed a solid trade, however due to the very nature of the financial markets; an unusual movement occurred that caused us to not receive the results we expected. If we do this, most of the time we will see this fear, this confusion or these excuses just evaporate.

Are these times comfortable, never. Chaos is not comfortable, nor will it ever be.

But the successful trader will step up to the plate and handle this challenge instead of succumb to it. Do not allow a challenging situation to become a disaster because of fear or excuses.

Show Notes

Everything is difficult before it becomes easy.

With the current volatility of the financial markets, it is extremely important that each of us resolve to be patient in our decisions and not make snap judgments. These can create future disaster.

The most successful individuals around the world have a foundation of processes that they utilize consistently, no matter whether the markets are trending with clear direction or being extremely volatile.

Each of us needs to be patient and allow the trading plans that we use to provide points of execution for trades. We need to be prepared for any and all movements in the market, yet stay committed to our plan and then perform with a self-confidence that ensures that we do not stray away from the steps of our plan.

Patience, preparation and performance surrounded by a solid trading plan along with money and risk management will produce the highest probability for profitable success.

Preparation combined with Opportunity creates a new word I would like to give to you --- Prepartunity. Every day provides new opportunities for us. If we are prepared then we will receive the highest results possible.