Pressure to Perform.
Everyone who trades ultimately wants to make money – after all isn’t that why we are putting ourselves through all this stress? which is only made worse when the pressure to perform successfully increases through things like having more money to trade with or giving up your job to trade full time (making it your only source of income).
However, it is easier to handle that pressure if you are able attain and maintain a good mindset. Key factors to achieving this is to train the mind to be disciplined, is focused and confident.
Part of developing that mindset is to understand the inherent risk that comes with trading. If you have not accepted the risk then you will begin to avoid the risk. Know the risk of trading and accept the risk of trading and you will be far better prepared than someone who has not. Learning to accept risk is a skill that we all need to learn.
The market does not have the power over the unique way we think, perceive, and interpret the information given to us, nor does it control the actions we take. Fear is a barrier that we all need to overcome. Such as the fear of being wrong, missing out, or losing money – in the market or even just by leaving it on the table.
Our thinking patterns are internal and are derived from our state of mind. Achieve the state of mind that truly accepts the risk. By doing so you eliminate the potential to define market information in painful ways, over-rationalize, hesitate, and then ending up jumping the gun.
The successful trader that you want to become is a future projection of yourself that you have to grow into.
Ryan Mowatt, Trading Performance Coach