Take a look at the revealing reason for 2020 trading results in episode 36 of the Trading Performance Podcast. It might surprise you.
Click here or in the video below to see the reveal!
What actually determined your trading results for 2020?
The reason you get certain results is always because of the actions you take. So the question is what determines the actions you take?
Our emotions determine our actions.
Many people don’t believe that our emotions determine our actions. Some believe their logic determines their actions.
While it is true that we may use logic to justify our actions, that logic is going to be based on information that is heavily biased by our emotions. This means that the human animal does everything based on their emotions.
You need your emotions in order to take actions. For trading you need the appropriate emotions.
What kind of emotions did you have in 2020? Was it fear when the market crashed or was it excitement?
Use your emotions to point yourself in the right directions to take the best actions.
What determined your emotions during the 2020 market crash?
Our thoughts always determine our emotions. Every emotion we have is determined by a thought pattern. You may not be consciously aware of it but it is true.
Our thoughts are like habits.
You can take control of your thoughts. Just like you can change any other habit you might have. People change their habits every day.
An important skill to learn is how to separate your thoughts from your emotions. With this skill, you will be able to analyze your thoughts more subjectively. This will allow you to notice the emotion the thought is offering you and disassociate from it.
Another fantastic exercise is to imagine your trades playing out. Give your mind many different market scenarios for each trade to see the many different results that you could get from that trade and how that will affect you emotionally.
This will give you an opportunity to identify and take control of thought patterns that might not be to your benefit and allow you to change them, allowing you to create a new thought pattern that will generate a more appropriate emotion that will serve you better in the future. With a more appropriate emotions, you will take better actions, which will ultimately lead to greater profits!
The revealing reason for 2020 trading results might help you achieve exciting profits in 2021. Give them a try!