I thought I’d heard them all, BUT there is a NEW excuse on the block…I blame the personal development guys for this one!
So, there have – and always will be – a heap of excuses for why people don’t do well in their trading. “It’s too hard to learn”; “I didn’t have the time to check it”; “It was the market’s fault” or the all-time favourite: “My trading indicators don’t work” (the fact you don’t follow them is, of course, completely ignored).
OR, another one of my personal favourites, you could be wearing that “I Am Not A Disciplined Trader” badge with pride, as if you’re some sort of 50s throwback rebel without a cause, whereas, in reality, you’re a here-and-now trader without any capital.
But there’s one that beats them all; that empowers nothing and no-one and yet feels as though you’re accepting reality, so it makes it OK, so you don’t have to take action. “What is this awesome excuse?” I hear you say…wait for it…(fanfare etc., etc..)…
“I am not doing well in my trading because of my limiting beliefs”
Almost said with pride as if that makes it all OK. What a crock!
And here’s the real kicker. So, delighted that you have taken ownership of the limiting beliefs label and are not only wearing the “I Got Limiting Beliefs And Am Proud” T-shirt, but have the whole damn outfit as well, the chances of you ever moving away from this focus are slim as it becomes ever more entrenched, eventually burying the core issue at the basis of your limiting beliefs.
It’s like some sort of bizarre, self-fulfilling prophecy to ensure you stay exactly where you are or – more likely – regress further. Here’s the process..
a. I have limiting beliefs
b. I behave according to those beliefs so I have a valid excuse for not doing the right thing
c. There you go, I told you those beliefs were correct
And round and round we go.
So, time to stick it to the limiting beliefs movement, or more accurately, to stick it to your own FOCUS and ownership of these.
Here’s a thought…focus on doing something different. You know what I mean, perhaps one of those things you’ve heard of that will actually make a difference to your trading; like following your trading plan or creating a meaningful trading journal that actually measures your decision-making. Why not give yourself the gift for a couple of weeks of doing this and see what happens?
Here are three things that can exorcise the ‘Limiting Beliefs Cycle’ occupying your thoughts. How about:
- Re-connect with the purpose (i.e. the difference in choices and lifestyle) that you thought trading would bring you
- Re-connect with what you KNOW you should be doing
- Re-connect with ACTUALLY taking action on the above and take your head out of your limiting belief naval and look at doing some things that will make a difference.
Make these three your focus and not some dreamy, glib, psycho-babble sound bite and maybe you can find the potential trader that is within you.