Winning Trade Money MindSet
THE WAY WE FEEL ABOUT PROFITS AND LOSSES REFLECTS
1. What we value most
2. Who we think we are
3. What our future as a trader will be like
What does that mean?
Do you feel even keeled and still good about yourself, even if you had to take a loss?
Or are there feelings of resentment and fear bubbling underneath the surface?
Because if you don’t, what happens when you have a winning streak? Your ego is going to go crazy. You start dreaming about riches, fancy holidays, fast cars, and
mansions. And the moment you start fantasizing about the future, you will be out of sync with the present and inevitably give it all back.
When you tune your mind into the frequency and the vibrations of abundance, believing you can have the things you want, your actions will be in tune with the
energy vibrations of abundance, and you will be able to attract what you want. It works for anything and everything.
“The million-dollar question I’m hearing you ask is…
“How do I attract more profits and keep them?” Well, I’m thrilled to tell you, it’s possible and yes, anyone can do it.
See you in the green!
STEP 1: UNPACKING YOUR MONEY STORY
Everyone has a money story. For some money comes easy, for others money is hard to come by and for the rest its money easy come easy gone. You can literally see what someone’s money story is in the way they handle their profits & losses.
Your money story is unique to you, because it is a product of your perceptions, opinions and predictions, which are held in your subconscious invisible to the
untrained ‘eye’.
They create your experiences with money today and therefore determine your trading results.
The ultimate framework to generate more trading profits, is about understanding and respecting that your mindset has its own unique energy vibration just as
money has its own energy vibration. If those two are not in tune, the probability of you increasing your trading profits is low.
The Experiences That Shape Our Money Story
Now I don’t know about you, but I grew up in a household where I heard a lot of arguments over money and ‘I’ve never met someone who doesn’t know these old
sayings…
“Money is the root of all … EVIL”
“Money doesn’t grow on trees.”
Just think about the cartoons you watched as a child where the villain is almost always portrayed as a rich, evil, greedy character!
How do you think these thoughts that were planted into your mind when you were still easily impressionable shaped your perception of money today?
Because when you tell the mind a story long enough, it becomes a perception. That perception impacts your trading behaviors on a subconscious level. And then you
wonder why you can’t stop letting your losses run and cut your profits short, when you damn well know that this is the sure-fire way to ruin.
How many times do we come up with the most creative ways to get rid of our money with parking fines, overpriced holidays or bad investments?
The truth is many resent money. They don’t know the value of it. You may even fear money because you have seen it cause fights, friction and disharmony. You have
seen money used as a means to control others. What’s worse is for some it has brought so much guilt and shame into their lives.
No wonder traders self-sabotage when they see money as somewhat unsafe.
What is self-sabotage?
Have you ever been in a situation where you are so close to achieving something amazing, getting really close and then you do something stupid to mess it all up?
So many traders who attempt to pass the prop firm challenge share with me this very frustration.
So many traders who had their best month ever give it all back in the next month.
And then you get outraged and frustrated with yourself and ask: ”Why do I do that?”
Let me share with you some insights into why that happens. Self-sabotage is a primal instinct. It’s within, it’s hard wired in the reptilian brain.
As a species we humans instinctively hang out together, because it’s safe.
If you watch Discovery channel, you know what happens to the poor old zebra that gets kicked out of the herd; the lion eats it!
At some point, we humans were the zebras! This is important!
We are fundamentally wired as human beings to remain in the herd.
Therefore, we avoid doing anything that risks us being ejected from the herd. As a result we will unknowingly sabotage ourselves as much as humanly possible to
avoid getting thrown out of the herd.
We do anything we can to fit in at any cost.
Stay where you are, stay average and we are with you.
But the moment you become too big for your boots we are going to kick you out.
And that’s why traders tend to unconsciously value belonging more than profits even though consciously all they are yearning for is a rising equity curve.
The Value of Money
I have heard so many times that it is important to value money. I was told to have money organised in my purse, to hold it in my hand and to thank it, and all kinds of
nonsense that frankly didn’t change anything for me.
It was not until I understood that valuing money actually means understanding the mathematics of risk and money management, my whole life changed.
As the old saying goes “You can’t manage what you don’t measure”. This definitely applies to the financial stability of your trading business.
If you do that then you are not focusing on ‘getting’ more of it, you are focusing on better ‘managing’ what you have, which in turn makes you appreciate what you
have.
Appreciation has two meanings, it means valuing what we have and also growing what we have.
I value what I already have. As a result, I don’t waste it. Instead, I invest it very carefully, I protect my account equity like a child and put it into situations where my equity curve can grow.
The truth is money is not evil, it has no bias. In fact, it’s the most creative force on the planet because it allows us to pursue greatness. With money on our side, we
can grow and evolve until we live up to our full potential.
Changing Our Money Story
Changing your money story starts with intently listening to the language we use when we tell our story with money.
I can typically read a trader’s mindset within 5 min of speaking with them by the words they use to describe their trading situation. Most traders aren’t even
conscious of what they are saying.
When I chat with successful traders, I always ask the same question, “How did you get to where you are?” It’s a general question and that’s what I am listening for,
what is the general theme of the answer?
And you know in a quick flash, without even having to think – they tell me a story!
Guess what their story is? Guess what their language is made up of?
Wealthy trader affirmations!
“I always knew that I was going to crack it, even if I came from nothing, I always knew.”
“You know what? There was something inside of me, even though when I doubted, I just believed that I would find a way, that I figured it out! That’s what I kept focusing
on, and I convinced myself that I could do it.”
You hear a story designed in the language of wealth.
Now, when I sit down with someone who is struggling as a trader and ask them, why are you where you are?
You know what they tell me even quicker?
They tell me a story as well, but their story is full of affirmations of emotional poverty, scarcity and defeat.
You can’t be unhappy unless you are running an unhappy story!
You can’t be depressed unless you are running a depressed story.
You cannot be wealthy if you are running a poor story.
If you are constantly telling people why you are where you are based on a whole bunch of excuses and affirmations of poor and affirmations of lack, you’re never
going to get there. You can’t see the sunset if you keep running east.
One thing I have learned when it comes to augmenting and transforming a trader’s mindset is, language is by far the most powerful tool and it is easily accessible for
everyone. It all starts with the power of awareness.
STEP 2: CREATE THE ULTIMATE MINDSET FRAMEWORK TO ATTRACT PROFITS
Money has its own universal truths.
From my experience, these three principles will align you to the energy, frequency, and vibration of money to have trading profits flow to you in abundance once you
have mastered the skill of trading and understand the dynamics of how financial markets work
1. Financial Mess vs Order
What I found is that most traders who struggle with Money Management in Trading, keeping profits and taking losses, also lack money management skills in their day-to-day life.
Their financial mess causes a constant subliminal vibration of fear: outstanding tax returns, no savings for unexpected occurrences such as unexpected emergencies such as household repairs (did you know that the average fridge has a 10-year lifespan?). They often understand their fixed and variable expenses, credit carddebts, unpaid debts to family and friends etc.
These financial messes are the locks on the gates to abundance. No matter how hard you try, unconsciously you will be at risk to sabotage your results, because you
know you are out of integrity.
Exercise:
Make a list of all the financial messes in your life and devise a plan on how to resolve them.
2. Resentment vs Appreciation
Traders who struggle with money believe that having money is the answer to all their problems. As if money is the missing ingredient that stops them from being a consistently profitable trader.
We need to understand what focusing on the lack of money does fundamentally to the trader’s psychology and behaviors.
First: it narrows their perspective and causes stress which makes them overly emotional.
Then add negative emotions and this trifecta of narrowed perspective, stress and negative emotions block the trader from making good decisions.
For example, how many times did you prepare your trading plan for the day, but then didn’t execute accordingly only to see at the end of the day that if you had followed your plan you would have aced the trading day?
Focusing on the lack of money increases the probability of self-sabotaging behaviors and negative traits that pushes them deeper into the quicksand because they are focusing on the wrong thing.
You don’t know how many times I have heard the story of the trader who borrowed money from family and friends with the promise of great returns.
But since the struggling trader’s money mindset is still one of lack, they quickly get rid of the money by taking crazy risks and letting losses run until the money is gone.
That in turn reinforces their negative money beliefs, that money is pain, money is hard to keep, money destroys friendships etc.
When you are constantly upset and have resentment that no matter how hard you try, you never have enough, all you are doing is attracting more of that, more lack.
After a while they finally realise that having a bigger bank account is not the answer to their trading success. Only now they are ready to look inwardly for answers.
What is missing is a growth mindset that understands abundance and growth through appreciation.
The Value of Money
Money itself has no value. The value of money comes from what we actually do with it. So we need to focus on our decisions around money, not what we want from
the money, not on the money itself.
Resentment comes from not getting what we want from money, which is usually freedom, experiences and peace of mind.
Focusing on the money itself breeds this mindset that we never have enough of it, that we fail to focus on what we can do with it to make it work for us, and where it
can take us.
Paul Tudor Jones for example who has been working with Tony Robbins over many decades, has the mindset that money floats around everywhere in the ether and
all he has to do is open up the tab and money flows into his trading accounts.
What we focus on expands. When you focus on a lack of money you are always going to have a lack of money. But when you focus on the abundance of money
you don’t need to be stingy with taking a loss. You don’t worry about taking a loss because you know that there is always more where the previous profits came from.
Structure of Habits & Routines
There is a saying that the wealthy keep getting wealthier, and the same applies for profitable traders. The reason they keep becoming wealthier is that profitable traders have structures in their lives to allow for profits to flow towards them.
What are structures?
Structures are frameworks, systems, and processes of how you organise your life that will free up your mind from worry, reduce stress and so allow you to elevate
yourself up to the frequency of abundance.
Ask yourself: How do you invest your time? Do you do your market preparation the night before? Do you complete a post market assessment of your trading performance for the day?
Which rituals do you have in place to put yourself physically and mentally in top shape?
Please understand this: If you want your equity to grow then you must be willing to invest in it.
The two most critical investments in your trading business are the time and money you invest into your personal and professional development and your health.
If you invest zero, you will get a return of exactly zero because that is what happens when you multiply zeros! If you want to have more profits, then you must start to give the highest priority to the activities that bring in those profits.
THE TAKEAWAY
You can begin to boost the energy of money in your life by working to clean up any financial messes.
Then take the time to start to value and truly appreciate money.
Next, create a simple routine of personal and professional habits that will form your foundational structure to set yourself up for optimal performance.
You will soon realise that trading profits are flowing to you much more effortlessly because now your mind is clear and free to focus on abundance and flow rather
than on the struggle.
Look, I’ve made so many mistakes in my trading business. I’ve also helped others overcome numerous issues in their trading business. But the flip side is that I wouldn’t be where I am today if I didn’t make those mistakes.
If you want to build a successful life, you must learn how to follow through.
Apply these 3 principles to your trading and your life.
Then you will attract an abundance of profits, more than you will know what to do with.
Trading Profits are money, and money is energy. What does energy do? It flows!
When you understand the language of money, it’s much easier to have profits flow to you and to attract money to you because there are specific laws and principles that we are working on this energy.
It can be as simple as that. So, make sure you show up, and I look forward to helping you on your journey to success.