If you want to be happy, gain self confidence and trade successfully long term then there are two things you must avoid at all costs. These two things are perhaps the biggest enemies of success and happiness in any part of life. What are they? Well, as one of my coaches Brian Tracy puts it in his book “The Power of Self Discipline”, they are “the path of least resistance” and “the expediency factor”.
The path of least resistance is what causes people to seek shortcuts. In trading, it causes people to seek get rich quick schemes and easy money. Over time this becomes a habit. The habit of jumping around from one “easy money” trading scheme to another, hoping something will eventually work out rather than doing what is “hard but necessary” to become a successful trader.
The expediency factor is even worse. This principle says “People invariably seek the fastest and easiest way to get the things they want, right now, with little or no concern for the long term consequences of their behaviors.” They do what is comfortable and easy rather than what is necessary for success. In trading this means they are looking to make money right now. They want to bypass the years of experience and learning it takes to learn to become a successful trader and become an instant success now. And in the process they waste years of their life and outrageous amounts of cash leaping at anything that looks like it might work and will give them instant gratification.
It’s time to let these demons go and take control of yourself. Realize that learning to master anything takes years of time and commitment. Instead of wasting your life running in circles, decide what you truly want and then set out a path to do it. Stay focused on your goal and don’t let these easy money schemes pull you from your dream. Realize it will be a journey of hard work to get there, but in the end it will be worth it.
For more information on becoming an awesome trader, visit lockeinyoursuccess.com
And one more thing, Register to join me for free September 25 at 4PM Eastern on Investor Inspiration to find out how I went from auto mechanic to a top trader on a professional trading desk using the M3 and a super simple options strategy that historically outperforms most mutual funds and trading strategies on a portfolio level. Register HERE!!!
To your success!!!