The trading secrets crucial to success that are not talked about much.
Here are two more of them:
Faith and Forgiveness In Yourself.
They don’t cost much money. Their monetary cost is zero. And they give you an edge over others. Yet, there are many traders out there who believe that they have to spend hundred or thousands of dollars per month on this or that fancy system or news sources, etc.
I reckon just as much money is lost, due to lack of faith and lack of forgiveness, than any problems with a trading system or method. And I reckon that there is a lot of money not made by traders, and a lot of money left on the table, due to the lack of faith and forgiveness, than any problem with a trading system or method.
Let’s start with Forgiveness first.
Stuff happens in life. You may go to work in the morning, come home, and, well, stuff might happen. Maybe you had an argument with a family member in the morning. Maybe you used foul language to someone on the way to work. Maybe you made a mistake at work and embarrassed the company. Maybe that swing trade had on that you thought would work out is not going in your favor. Maybe you forgot to pick up that thing after work. Maybe you did an impulse purchase that put you over the budget for the month. Maybe your trading account is in draw down for the third time this year and you just added more money to the account again. Maybe you couldn’t find time to get in that workout and skipped it for the past week. Maybe you bought the wrong gift for someone. Maybe you forgot someones birthday.
Bottom line is – so much stuff can happen to you in life on any given day. Both at work and outside of work. Both inside your home and outside your home. Both events internally generated by you, and also externally that comes to you.
And forgiveness of yourself is a crucial habit to form on a daily basis.
If you got angry at your spouse… forgive yourself.
If you suffered a double digit drawdown… forgive yourself.
If you ate an extra donut or two you shouldn’t have… forgive yourself.
If you showed poor judgement in selecting a business partner… forgive yourself.
If you missed out on a fantastic trade… forgive yourself.
If you had a few relationships that did not work out… forgive yourself.
If you should have bought that currency pair rather than the other one… forgive yourself.
If you should have bought that stock that rose +70%, rather than that other stock that only rose +10%… forgive yourself.
With the year 2017 having come to an end, and the new year 2018 beginning – forgive yourself no matter what happened.
And GET SMARTER.
I see some people who are only hard on themselves. The philosophy that no one is harder on you than you. I understand that and applaud that.
However, I see many young people who are being too hard on themselves for too long. Stop running yourself down with your own thoughts. Empower yourself with faith and forgiveness.
STOP bashing your own head against the wall over your so called mistakes. There is no need to do that. They are “experiences” and “adventures,” not mistakes.
As the pop star Selena Gomez even said that what she would tell her younger self is that she’s:
“Doing a Great Job.”
Therefore, don’t only self criticize yourself. Don’t believe that through self criticism, through self immolation, that magically things will turn around.
Believe that you are currently doing a great job and look where you can be smarter.
With being less hard on yourself and redirecting that energy and emotion to the right thinking, success would come easier.
That welling up of the emotion of forgiveness inside of you could be the force that determines whether you get up the next day bright and early and give trading another chance. Giving it a SMARTER shot.
Forgive yourself, then get smarter – with the Mastery Course.
Be kind to yourself as this is the only body and life and mind you have.
Be kind to yourself as you don’t want to on one hand educate your mind and body and take it to the next level, but still be wrapped up with irrational worry, fear and anxiety.
Be kind to yourself as you are still learning piece by piece. The profit puzzle becomes clearer by the day for you.
Be kind to yourself as keeping in those feelings of guilt, shame, sin, etc is not conducive to maximum performance.
Be kind to yourself as you don’t want to miss out on a big trade later that day or week and you cannot benefit from it, due to your lack of forgiveness on what you did earlier that week.
And be kind to yourself because you can, in a second, in a minute, that same day be exposed to new and electrifying information that changes everything for you.
One could write a book that’s thousands of pages long… filed with stories of having to forgive yourself, and how forgiveness of self and others led to positive changes in the lives of multiple people.
If you want trading success – if you want massive trading success faster than ever – forgive yourself.
And then: GET SMARTER. So the next time, the likelihood of that happening is much less.
They say that Faith is the ability to see things that do not yet exist in the material world – the world of the five senses.
Faith – that ability to transport those things that do not yet exist into what you believe your future is going to be. It is an awesome force transporting such events from imagination into the future – your future.
That vision of the future transported into your mind’s eye.
That you can be richer and more powerful and healthier than ever before.
Looking back at my life and all the parties, events, homes I have been to and visited, among the common person, in the common household, there is a lack of belief. That lack of faith existed among them. I reckon that was a key reason why they just stayed in mediocrity and did not break out into greatness.
Have faith that there is another higher level of trading out there. And that this current stage you are in, you will get through.
Have faith in both those scenarios. That you will transcend to a higher level. Because in truth, such an attitude can make or break your year.
Personal Examples of Faith and Forgiveness:
Take some examples from my own life about Faith and Forgiveness:
When I took a double digit drawdown after a wrong news trade, I had to reflect, develop new principles, and forgive myself and have faith in myself for the next trade.
That does not mean that I could just go place horrible trades and have faith and pray that it’s going to work out. I had to be smarter and place better trades. And I could do that by finding the right principles to apply, then actually implementing them.
Every single time I gained new knowledge and found a better trading strategy – from technical indicators to chart patterns to price patterns to order flow trading and then global macro trading, I had to forgive myself and have faith. I had to forgive myself for my past stupidity and errors. For spending all that time in the trading forums where my time could have been better spent elsewhere. And to have faith in myself as I learned more about and implemented the new trading strategy.
One morning I woke up a bit disoriented, rather than with explosive energy and clarity. I was not sure why, since I had gotten plenty of sleep, ate healthy foods, etc. But I kept at it with my morning routine and rituals. I had faith and belief in my morning routine of my nutritious breakfast, prayer, etc. I did not worry about it one bit. And by the time I was playing tennis a few hours later, I was real good. I had an effective morning routine, had faith in it, implemented it and it worked. That’s the trick by the way – having an effective routine, and also having faith in it and working it. Get all three of those elements working for you.
When I play tennis – I have to forget about the mistake I made a few seconds ago. I should not label it silly or stupid or anything else. I have to just accept it as it is, and not label it. And move on to the next play. After all, I know how to play the game, I know how to swing and serve and move my feet, etc. I know how to play. It’s not like I don’t know how to do it. I know how. So I have to instantaneously forgive and then move on.
Trader Examples / Other Examples of Faith and Forgiveness:
One of the world’s largest hedge funds in the 1990’s, started off the first few months of the year being down -10%. They then proceeded to end the year being up +40%. There was surely an element of forgiveness and faith that the Chief Investment Officer and team behind him were still GOOD.
One of the world’s largest hedge funds in the early 1980’s had made money for 12 years straight. But then suffered a loss in the 13th year. The leader had to forgive himself. And have faith that he was still good. That’s what one of the greatest hedge fund managers in the world had to do. That man’s name was George Soros.
I also remember one person describing Soros as having no emotional attachment to a trading position. Thus, Soros learned how to forgive himself and have faith.
One of the great traders of the first half of the 20th century – Jesse Livermore had to forgive himself and have faith. He got involved with some wrong people in the early part of his trading career and lost his fortune. He had to forgive and rebuild, so that when the Roaring 1920’s bull market in stocks came, he could have full mental and physical power to benefit from it and compound profits year after year. He could not be sulking and beating himself over what happened to him 10, 15, 20 years before.
One discretionary trader wrote about how he didn’t care about the mistake he made a few seconds ago. That same trader went on to make tens of millions of dollars within the next twelve months.
Another of the greatest hedge fund managers, before he struck out on his own, punched his boss when he was working for someone else in his 20’s. And he got fired. Well, he had to forgive himself and move on to positive action.
There are also plenty of examples from outside the trading world.
One person was telling the story of how he co signed a deal when he didn’t have much money. He ended up becoming a bestselling author and made millions. However, when the other person who co signed the deal could not live up to the terms, the author had to pay $500,000 of his own money. The author had to forgive himself and move along in life to the next opportunity. And be smarter next time. And yes, he was able to release and promote another bestselling book.
One man I spoke to, he was on his 4th marriage. He first got married at age 19. Lasted less than a year. Then got married again, and lasted for a few years. Finally on his 4th time, he got it right and his marriage has endured many decades and they had three wonderful and beautiful daughters. Faith in himself and forgiveness in himself – every step of the way.
One man eventually rose to be reverend of his church later in life, after a successful business career. In particular he had a sushi restaurant in town for many years that was enormously popular and made him a lot of money. He wrote in an article for the church newsletter that he used to get angry at his mother and hit her severely. This was done when he was in his 20’s. He had to forgive himself of those dark days of his past and have faith in himself to become reverend of his church.
One of the greatest tennis players in the world at the current moment, at a point early in his career before he became great, he thought of quitting many times. If he did not keep the faith – keep trying, keep training, keep learning about the game, keep mastering his body, mind and soul, then all those hundreds of millions, all those trophies and all that glory would not have come to him, and would have gone to someone else. Therefore, he had to forgive himself and keep the faith.
One millionaire, his wife was pregnant with their second child and she was in a coma. She was in the hospital and the doctors were doing what they could. Among all the other things in this situation, it also required FAITH. Faith in a positive outcome. Faith in the perfect outcome. And yes she did get out of the coma, give birth to a healthy baby and the mother made a full recovery as well.
Take the actor Robert Downey Jr. Had a history of substance abuse. First wife left him. Eventually he made a stunning comeback with multiple blockbuster films. Had to have faith and forgiveness in himself.
Martha Steward had to bounce back from her insider trading case in the early 2000’s.
Actress Winona Ryder had to bounce back from shoplifting arrest in 2001.
Rapper Jay-Z had to bounce back from the stabbing arrest in 1999.
And I’m sure every country in the world has similar and even more dramatic stories. Whatever fields you are passionate about, whatever hobbies you are passionate about – there are such stories of forgiveness, redemption and faith.
And you will see clear patterns of how they became a better person, made even more money than they ever imagined, and had a bigger and more effective voice for change than ever before.
They all had to forgive themselves, extract the insights to be smarter – and then implement with faith.
How To Have Faith and Forgiveness
There are two general categories and three general ways this can happen to you.
The two categories are self generated versus outside generated.
The self generated category is pretty self explanatory. It means that you self generate forgiveness to yourself.
Or it can be someone else extending forgiveness to you from the outside or them extending forgiveness to themselves or another person and you perceiving it. This comes from the outside to you.
The three general ways are:
When you self generate forgiveness to yourself. You have faith and forgiveness via the mechanism of granting it to yourself.
When someone else forgives you. You have faith and forgiveness via the mechanism of someone else bestowing it upon you, when you didn’t realize you could do it yourself or didn’t feel you were worthy, etc.
And the final way is when you notice someone else extending forgiveness to themselves or to another person, and you perceive it and think about it, etc. You are a third party that is observing them. And then something “clicks” in your mind and you can then have faith and forgive yourself.
Those are some of the ways it can happen to you.
Therefore, you can have faith and forgiveness in yourself FIRST. Then you can show it to others. This is is one perspective.
The other perspective is show faith and forgiveness in others FIRST. Then you can bestow it upon yourself. As that which you forgive in others, you forgive in yourself. As the world is a mirror that reflects your thinking. This is the other perspective.
Try them both and see what you find.
Also try to PRAISE yourself, even if you can’t seem to find anything to praise at that moment in time. Puff yourself up. You may find a reason later in the day that grants you the substance behind your praise.
By forgiving yourself, by praising yourself, and having faith in yourself, by doing these, then you can gain new knowledge, find those new principles, new habits, etc, to latch onto and get the substance behind that praise of yourself.
Therefore, this holiday season forgive yourself and have faith in your actions.
And invest in yourself to find the most intelligent actions possible.
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