Convert Your Trading Dreams to Math – Trading Psychology
Convert Your Dreams to Math
This 30 Day’s to Better Trading series is going to break down the best hacks, tips, and tricks I’ve found in over 15 years of trading.
Convert Your Dreams to Math is part #1 of this live video series. I started with this as having a clear vision of your goal is essential to actually achieving it.
This makes your dream more of a reality which is essential to staying motivated though the learning process.
We then walk through putting your dreams to math by writing out a compounding table.
By keeping this by your side as you trade you’ll have a constant reminder as to what can be achieved if you don’t give into the desire to revenge trade, over-trade, over-leverage, or whatever else you do to self-sabotage your trading success.
Additionally, having a compounding chart makes it real, and common sense dictates that you’ll be more motivated by something that is realistic as well as having a clearer vision of how to get there and the amount of time it will take.
I CANNOT understand the important of having a compounding chart near you while you’re trading. It’s the best reminder to stay disciplined I’ve found in 10 years of educating other traders.
What Are you Willing to Give Up?
The final part of the video asks a very simple question, what are you willing to give up to achieve your goal?
I don’t know about you but when I first started learning to trade I had a team of people telling me why I shouldn’t. Family members told me I couldn’t do it and I needed to get a “real job.”
Eliminate the people holding you back, and search out the people who can help take you to the next level. Most people can’t accept that you want something better than slaving for a 9/5 dead end job, and you’ll need to cut them loose!
You also need to look at your own habits? Maybe you want to put money in your trading account or join an education service but you don’t have the money.
Could you cut out things like eating out, smoking, alcohol, drugs, and on and on. You know what you spend your money and time on, only you can do the analysis.
This is where the list comes into play. Write out two columns as illustrated below.
1.) Working out
2.) Eating Healthy
3.) Sleeping 7-8 hours
4.) Daily chart analysis
1.) Going to the bar daily
2.) Aunt ‘Debbie Downer’ talking poorly about trading for a living
3.) System Jumping
4.) Smoking weed
Remember to leave a comment below with what you guys would like me to cover in this series. Until next time, happy trading!