Recently I started at a prop firm in NYC. Some of the best traders in the country reside in this office and I have the privilege of hearing their insights everyday. I’ve also been exposed to less “popular” traders but those who have turned this “casino” into a consistent cash generating business. They have also achieved a position few have been able to actualize: the ability to withstand the test of time in the market. However both these peoples have one similar characteristic that I feel encompasses all others.
While listening to these traders everyday, hearing their comments, their dissatisfaction and happiness when a trade nears its completion. I do not listen to their words as much as the structure to what they say. Listening between the lines. Their trading style is not mine nor am I them, so to imitate them would be foolish. It would most likely lead to my own demise. There is one quality that we can learn from them that will propel us in our trading and take our lives to a higher vibration… TRUST IN YOURSELF. It really that simple! These top traders do not doubt their trades, they trust the moves they make, they trust their abilities to adapt their strategies to current market conditions, they trust themselves.
My experience with a friend was that he had great intuition on where the stock was likely to move next. 7/10 times he was correct, but he always scared himself out of the trade early. Once he started to recognize and trust his intuition he began to increase his profit and in my opinion I hear him cursing a great deal less. This quality of self should never be overlooked in trading, in whatever profession you choose, or in life.
How do you develop trust in yourself? Start to meditate on the concept of self trust and what it means to you. Write this down. Next keep a detailed log of what your true self is telling you to do. Take a “snapshot” of the feeling. If you are correct reinforce that feeling. Most of us are programmed not to see the trust & power we hold inside. Once you begin this practice let it flow naturally cause all the truth you need you already have. This idea finally clicked after a good friend / guide told me flat out, “you don’t trust yourself.” It imprinted itself on my psyche and I knew what it was these top traders possessed. These top traders didn’t have a super mechanical trading system, they had a SUPER MENTAL SYSTEM!
Good Luck with trading & finding your Super Mental System 🙂