What the hell you say? Right..
I don't need a break.
When a new year ticks over what do you think?
A new year is often a huge opportunity for many people and a lot of people see it as a fresh start.
Well you are here and you want to learn something that is going to help your trading and so I am going to give it to you.
NOTE: THIS IS NOT A GOALS LESSON!
Today here in South Australia it was January 1 this morning and when I got up really early there was a very eery sense and weird feeling on the streets.
There were hardly any cars on the roads and normally on a Sunday morning the cafes would be buzzing, the bike riders would be annoying the crap out of people riding four wide and having loud conversations as they pedal so everyone else can hear things they don’t want too.
But, as I went off for my super early jumbo coffee this morning I saw people that I don’t normally see up and out of bed doing exercise.
One neighbor who does not leave for anything other than work had pulled the bike back out and was out riding.
This is what a new year can do for some people, it can give them a ‘re-set’ in their mindset. Good on them I say!
I don’t care how in the middle of the road he rides or how loud he talks if he is staying healthy and kicking ass on his goals.
The Harder You Work…
I often at this time of the year will make a lesson or video to try and get you thinking about your life and situation.
It is my goal with these lessons for you to realign yourself with where you are going and what you truly are wanting, so if you have moved away from your path you can jump back on it, and you can set clear sites on making massive improvements in the year ahead.
This year however, I am going to teach you just how important your decisions are and how they really do affect you for the long haul.
My VERY Big Trading Loss and Lesson
Early on in my trading career I was going through a super rough and emotional time with the person who was at the time my wife.
I was away from her during this period, we were both very unhappy and I was not myself at all.
It was super taxing and mentally difficult to focus on anything other than this challenge I was going through because all I wanted to do at the time was just fix my other personal problems, but, I went on to make a HUGE MISTAKE!
I had been in the markets for quite a few years by this point, but I was going through a huge range of emotions, ups down and was mentally on a roller-coaster.
The thing about the markets is that they don’t give a flying bandicoot what you are doing or feeling. You have to come in and make one great decision after another after another.
You have to learn not just about the markets, but also YOURSELF, understand if you are at the your end of your tether and you need a break, or you are tired, if you are mentally fried and are not concentrating as you need to be or if you are focusing on other places and not on the markets 100%!
I got the very best, hardest and much needed lesson that day!
The problem was; I was super upset and sitting at my computer I could hit a button and price would go up and make me money and I would be distracted from other things going on in the real world and for just a few seconds I could feel a tiny bit better and forget about it.
I remember making a lot of money in minutes and then within moments getting crunched losing a HUGE amount of money a very fast.
I thank the markets and the people on the other side of my trade for crunching me, and boy it was a crunching too. But, this lesson and a lot similar to it are what are needed and what a lot of people try to skim, or short cut out on in their path to success and very quickly find out doesn’t work.
My Brothers Passing
A couple of months ago, towards the end of 2016 my brother died.
I traveled back home, wrote and gave the eulogy and saw a lot of family and friends I had not seen in quite some time.
It was a tricky time and if I did not know any better I would have kept on trading.
I would have without any doubt began a losing streak.
However, with the lesson of many years previous and also having experienced a lot of lessons throughout the years and trading through them such as my father brain aneurysms, son's broken arm etc, your begin to learn your own emotions / reactions and understand when you are ready for a real break and have lost focus.
A lot of traders don’t know any better because they simply have not been through the range of emotions or had the time, the experiences, the ups and the downs, all whilst trading.
They don’t understand how important great decisions are or that trading basically is just great decision making time after time.
So when they are upset, bored, scared, feeling major loss and should be having what I call a “Mental health day” or a day doing something you enjoy whether that is watching a movie, jet skiing or golf, or I don’t know, but something you love doing, just don’t make it losing in the markets.
We ALL Experience It!
Here’s the thing; every single one of us are affected by major ranges of emotions such as; heartbreak, anger, fear, loss etc, at different points in our lives.
Normally our lives go along just peachy and things go along swimmingly. We go about our days. We make our trades, we shoot for our goals and we push our boundaries aiming higher and farther to get to where we want to in life.
BUT; things happen to ALL of us.
We break up with partners which for some is painful, we see loved ones pass, we have the stresses from things like everyday living including ups and down with family life.
That is why I have been wanting to write this lesson for you for quite some time.
I obviously make a ton of trading education for you, price chart related etc, and in the next couple of weeks there is a ton load more coming your way as well so make sure you keep an eye out for that, but, to be frank; this is more important.
If you are trading when you shouldn’t, and then blowing accounts, it means you are losing cash and that money will take long times to rebuild. There is no reset button or go back to last save point.
Study on Pro Traders
A while back I created a study for you into how the biggest traders in the world deal with and handle the mental stresses of trading and most importantly losing huge amounts of money.
This study showed that there is a major difference in how two traders will deal with stress especially between the experienced and junior traders and this will have a huge impact on their results.
The study found traders especially the junior traders would use the avoidance tactic with their emotions to “self regulate”.
The junior traders would put on a “front” to other senior traders and act as if they did not experience emotions and try to seem like they are a stone, not experiencing emotions, whereas the experienced traders would understand when their emotions are coming and would understand themselves enough to know exactly what they needed to do.
Read this full study here; A Study on Thinking, Feeling & How Professional Traders React to Emotions
DECISIONS LAST FOREVER, ESPECIALLY IF THEY SUCK!
When you have experiences and major life lessons such as the one I had they stay with you forever.
What experiences or life lessons have you had like this that at the time you were thinking ‘oh this sucks’, and then looking back, you realize that actually it is a blessing?
After this experience I remember thinking that I would make back the money in days, but I didn’t.
I still have my trading bank accounts set up in the same ways and teach my members how to set them up in the same formations for these reasons for profitability and safety reasons because of lessons such as these ones I learned very early on in my trading.
What I want to stress to you is that everything you do in your life and trading lasts forever so make your decisions count!
It frustrates ‘the you know what's’ out of me how willy nilly traders are with blowing their trading money and blowing their accounts.
The Cash / Account Mental Shift
If I gave someone $500 cold hard cash in hundred dollar notes and said to them burn it, they would look at me like I am nuts, but a lot of the same people would then put that same money in their trading account and would treat it like fairy dust money!!
They have the attitude like; “Stuff it, if I lose i’ll save some more money and in few more months try again, but, I might hit it big!”
Or, even more foolproof is “I am going to open my Forex account with my credit card and see if I can get lucky that way. I have heard about this new system that is 100% accurate on the 1 minute Binaries charts and you know what they say about 93% of stats being accurate 60% of the time ?”.
When they lose their account they are going to be paying off huge credit card interest bills.
They may pay of the credit card debt quickly, but because of the poor decision and a decision they probably knew they should never have made, they were unable to do other things in the time in-between such as; use the money they were putting towards credit card debt to make even more money through investing or through higher education to become even more wealthy.
It's About How You Keep Going and What You do!
Now I am not telling you to pack up your trading charts every time a storm is brewing, but trading is challenging enough as it is.
To make money week in week out, month in and month out, we need to stay on top of our game, be mentally fresh, and not lapsing and giving the smallest edge to the people on the other side.
It can be mentally taxing ENOUGH just making great decisions and managing money, without factoring in everyday life stresses.
So, if you get a major life event, cut yourself some slack. Take a break!
Leave You With Two Things….
The first is John Lee Dumas’s Freedom Journal. Over 16,000 have been sold of these journals teaching you how to reach your number 1 goal in 100 days. If anyone has or is using John's book, then let me know in the comments or send me an email. he has now put up on Amazon HERE.
And this video from Rocky here that is my favorite quote of all time. It goes for only 3 minutes and if you watch only 3 minutes this year, then make it this one.
“It ain't about how hard ya hit. It's about how hard you can get it and keep moving forward. How much you can take and keep moving forward. That's how winning is done!”
This is the stuff that people will not tell you, but you need to know. You will not last otherwise!
Trading basically is just getting your money, choosing what market you want to trade, and then making great decisions with your money time after time, after time. If you have an edge and you continue making great decisions, then you can come out on top.
The people making poor decisions and losing focus will not make money with any edge or system because they will continue to get in their own way through errors of their own doing.
Happy New Year and a HUGE 2017 to you!
Major Exciting Notes:
Normally here I would add a related lesson for you, but I want to take this space to let you in on some news.
We have some huge things coming in the next few days… These include; a giveaway, an update, blueprint that will help a ton of people and something even better than that!
The only people we tell everything to are the super cool people on our VIP email list and have signed up to our site.
To become part of the VIP Email Crew and never miss a price action lesson, a giveaway, be updated when new lessons like this are sent out or blueprints are created just click right;
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