Happy Friday to all the believers! WTH? Is this a sermon or a weekly blog post? It’s both, but my hope is that it doesn’t get too preachy but instead, it brings enlightenment to your trading.
When I started trading, well over a decade ago, I thought all I had to do was following some recommendations from the talking heads and I would be backing up the brinks truck with all the cash I could imagine. Well guess what, that did not materialize as I thought it might. So not being a quitter I thought I would try something else. So I studied and learned how to read charts, I dove into the technical pool head first! It turned out to be a very shallow pool as it did not produce the results I expected although these results were slightly better than the first attempt.
It was about this time, and by time I mean a declining account balance, that the fear and trepidation started to creep into my mind. I started to think that those wall street guys knew something that I didnt know, yet! Even with these feelings creeping in I was not ready to throw in the towel, I have always be as stubborn as a mule just ask anyone that has ever known me for more than ten minutes. LOL
My third attempt at trading had me believing that if I just knew everything that those wall street folks knew that success was guaranteed. This is when I started to intake as much information my mind could handle and I was getting as fast as I could. I learned all about fundamental analysis. I went deep on the technical analysis, I became very competent at reading charts. I even learned about investor sentiment and about trading with catalysts. I was really soaking it all in. At this point I was certain I had the key to winning this game. Fast forward a few months and my account balance was near zero. WTH? What had I done wrong, what was I missing? I had all the pieces of the puzzle all I had to do was to assemble it, right?
Right, and wrong? I had all the pieces of the puzzle, I had learned a great deal about trading I felt like I was ready to kick ass! Then I learned that putting together a puzzle in which you have no box or picture is very hard to do, some may even say it’s impossible depending on the number of pieces. Imagine putting a 5000 piece puzzle together without the picture on the box? Sounds tough, right? It was very tough. It took all my stubbornness and all my soul to not give up and then I had an epiphany. The picture on the box I had to be visualized by me. It had to be created in my mind! Everyone’s trading success is different, it is the picture we build that brings the success. Think about it, we all have the same pieces, technical analysis, fundamental analysis, systems etc but yet some are really successful and some not so much. Also, some are really successful at day trading and some are more successful as position traders or investors. The question is why?
Here is the answer, the folks that are ultimately successful are the ones that acquire the pieces and then build a picture of trading success in their minds and then have the unwavering belief that they can manifest that picture in their minds into reality.
This means that once you have the pieces you need to see your success in your mind and then believe with all your being that will make it happen!!!
YOU MUST BELIEVE!!!!
Sermon over, I hope this finds you well on your road to building your perfect trading success picture and then believing that you can build it anyway you want to.
Coach “Old Money” Holmes
CHART OF THE DAY
Financial freedom is a journey
Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.
Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.
All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.