You know what they say about trading “Every trade, whether big or small, is a battle, and winning a battle requires preparation.” And I couldn’t agree more.
Fellow traders, there’s a chance that you have been on the roller coaster ride of the stock market and already faced numerous challenges. The trading world, especially for short-sellers, is full of twists and turns. You can go from extreme excitement to utter disappointment in no time.
At some point, you may feel like giving up. You feel like you’re not getting the expected returns, and it almost seems impossible to get out of this slump.
But there is good news: you can.
Today, we are going to dive into trading and discover the secrets of pro-traders that will help you overcome those annoying self-doubts but will also improve your complicated relationship with your money.
What are Limiting Beliefs?
With a market that is constantly shifting, the only thing that can keep us firm is our mindset.
Our beliefs about trading and money play a significant role in our success. But what are limiting beliefs, and why are they harmful?
Limiting beliefs are those sneaky little thoughts that creep into our minds and tell us what we can’t achieve. You may hear yourself saying things or thinking like, “The market is too volatile for me to succeed” or “I am not good enough to make consistent profits.”
The problem is you cannot ignore them – they’re too powerful. You also can’t let them go as they distract you and prevent you from achieving the goals you deserve and desire and they also have an indirect connection with your worth and how much you believe you are worthy of earning when it comes to money.
Things also tend to get complicated when it comes to money. You must have found yourself thinking, “No, I don’t deserve a lot of money,” or “Wanting more money is greed,” and so on.
What limits you is how you think about money, not how much of it you have.
Everyone has the right to a comfortable standard of living, and there is no rulebook that can specify how much money is too much. You work hard, and you deserve it – it is as simple as that.
By identifying and reframing your limiting beliefs, you can shift your mindset to one that is more open to growth and abundance.
How to Overcome Limiting Beliefs?
Here are a few top traders’ insider tips for overcoming limiting beliefs and becoming trade-ready quickly.
There’s a Japanese proverb that says, “You cannot find the thief until you know what has been stolen.”
In a similar vein, you cannot defeat your enemy—your self-limiting beliefs—unless you know what they are. Pay close attention to your thoughts and analyze the information they are providing you. To make things easier, write them down and deal with them one at a time.
Finding the root cause and doing the inner work.
Finding a professional coach or practitioner who knows how to work on a deeper
The level of the unconscious mind to find the root cause and shift it is key to making an effective and lasting charge, after all, your subconscious mind represents 95% of who you are so that’s where the work needs to start.
Once you identify the negative thoughts, it’s time for you to confront them and replace them with positive affirmations. This could be something like:
“I am capable of making consistent profits in the stock market.”
“I am worthy of financial abundance and success.
“Great things take time to establish.”
“Whether I win or lose, I will walk away with something meaningful – either a profit or a lesson.”
However, it is important to note that affirmations work even better when you believe them hence why it’s important to first identify the root cause and change the limiting belief.
Change of Behavioral Patterns:
A strong mentality is built up over time, and most of our behavior is what we do on a daily basis, such as how we react, respond, or think.
If, for instance, you are trying to watch your weight but keep opening UberEats just for kicks, it’s likely you will end up ordering unhealthy food. Why? This is because you are not managing your behavior, and thus your actions are not helping you achieve your objectives. Keep a check on your behavioral patterns and make sure that they align with your goals of success.
Let’s do this. For the next few weeks, try to be more focused on trading. This entails switching off your TV, putting your phone on airplane mode, locking out any other distractions, and concentrating solely on the markets and the trades you want to make that day.
This will make you feel more motivated and serious about your goals, and it may also provide you with a better understanding of the market.
Building a Constructive Mindset:
Now you are in the game, so you better play like the healthy players rather than the unhealthy ones.
The hallmarks of unhealthy players include constant whining, unrealistic expectations (no, you cannot buy a luxury car in just a few months of trading), and constant excuses.
The healthy player never complains but focuses on playing in the given field. They would never make excuses but take responsibility and keep a realistic approach.
Seeking Professional Help:
If all else fails, seeking professional help is always a good option. There are some great institutes, like The Conscious Trading Academy, that are dedicated to helping aspiring traders overcome limiting beliefs and money blocks as well as developing the right skills to unlock their full potential.
At the end of the day, it’s important to remember that you have control over your thoughts. Your mind is like a garden that needs regular care, and only you can decide what kind of thoughts will take root.
By challenging your limiting beliefs, seeking professional help if needed, and building a constructive mindset, you can make sure that your money relationship is healthy and balanced. You’ve got this!
About David Capablanca
David Capablanca is an architect turned financial trader. With an impressive 90% win rate in short selling, David has gained recognition in renowned publications like Business Insider, Nasdaq, and Miami Herald. As the host of the Friendly Bear Podcast, he offers a platform for the trading community. With 450+ episodes, the podcast brings together acclaimed traders to share their wisdom with novice traders. His focus on trading combined with mindset and personal growth resonates with aspiring traders seeking education and high net-worth individuals venturing into finance. Besides his trading success, David prioritizes social responsibility, engaging in projects that provide financial literacy education and support the homeless in Los Angeles.