Training Your Mindset For Success

The most recent Three Minute Trading Coach video demonstrates a simple technique we can employ to return to a focused, mindful state during the heat of trading.  Where we get the greatest value in mastering our trading psychology, however, is not through the occasional use of techniques or reading pieces of advice. We master our mindset through regular, disciplined training.

What that means is that any technique has to be practiced again and again and again before it truly becomes a part of us.  It could be a golf stroke, a baseball pitch, or a way for a singer to hit a very high note:  only repeated practice makes the new skill part of us.  But once we master the skill, we have it for life. The key, as Muhammad Ali points out, is having a burning vision of being a champion that is so inspiring and motivating that it drives us through the suffering of day-after-day practice.

In coming videos, I will outline research-backed strategies for practicing ways of improving our mindset.  But the videos won't matter if you don't have that burning desire to "live the rest of your life as a champion."  Goals and practice channel our efforts, but it's vision that drives our efforts to train ourselves for success.

Hell is not just an afterlife.  We can find hell on this earth if we look back at our lives and find ourselves filled with the regret of, "I could have been a champion."  At SMB, very successful traders earn a shirt, which is presented to them in a group happy hour.  At one level, you could say, "WTF, all that work for a shirt??"  But, of course, that misses the point.  The shirt is a step on the path toward living your life as a champion.  The shirt is a tangible goal that focuses our efforts to be our best selves and train, train, train ourselves for success.

What is your "shirt"?  What is your tangible, visionary goal that will drive tomorrow morning's practice?

The Three Minute Trading Coach

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