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Serious Preparation for TopStepTrader - Exact Steps To Get Funded
Important: Serious Preparation, Forming Habits, Knowing Yourself = Trading Well
Enough dithering!!!
Its time to finally make a serious attempt at trading. Treating trading as a hobby has gone for too long. Its time to take this seriously enough and document the steps to take the real journey.
This is and will continue as the real story of a man who had almost nothing other than the intense desire to succeed.
My affirmations are derived from a pretty old dog-eared copy I own of Pschocybernetics by Maltz Maxwell
- About your success, “you must not wait to act until you have proof —you must act as if it’s already there and it will come through”
- Do everything you can to prepare, and then relax in the doing of it. The more you can detach yourself and your self esteem from the outcome, the better you will perform. Get out of your own way.
- Live in daytight compartments. The only time we have any power over is the present moment…don’t waste time worrying about the past or future; do the things you need to do right now to heal the past or prepare for the future.
- Happiness is a choice. Your progress may be difficult or discouraging…but your attitude can make those circumstances worse or better. You always have a choice about how you react.
- Most important: Be willing to make a few mistakes and suffer a little pain, to get what you want. Bring courage to your life and trading, do the hard thing, be vulnerable, and take a risk for something if this something you really care about.
This week, commit to watching how the process of giving in to your impulses happens. see if you can catch yourself earlier and earlier in the process noticing what thoughts feelings and situations are most likely to prompt the impulse.
Why you succeed or fail at trading can sometimes seem like a mystery. one day you resist and the next you succumb to rule-breaking"What was I thinking?"
If you allow yourself to observe your BODY you discover that self control is a matter of physiology not psychological-control
If you can shift your physiology into a state when you need your willpower the most - the state of both mind and body that gives you strength and calm to override your impulses
The frustration-aggression hypothesis says we get angry when frustrated; when our desires, goals or expectations are suddenly up in flames. There are so many opportunities you see during the day, what with capitalism telling us all the things we could/should have (but can't), and then you (a) miss an 'easy' trade (b) get into a trade that immediately takes you into deep red, it's easy to see how traders could live in a perpetual state of simmering anger. However, it's often difficult to do anything about these frustrations after the fact, so it's likely to result in something called as displaced aggression. This is where you can't respond to the thing that's frustrating you due to it being out of reach or, more frustratingly, something that has the greater ability to harm you if you react (e.g. doubling up). The arousal of anger doesn't dissipate quickly, so it's often transferred to less deserving but more convenient targets. Your life isn't going as you'd hoped and your trading sucks? It can't be your fault; it's those damn market makers, ruining everybody in the society and screwing small traders like you over in the process. But thanks to the internet, you now have ample opportunity to get your "revenge". So you FORCE YOUR WILL, angry young man (or woman) and forget that YOU ARE HERE TO OBJECTIVELY ALLOW THE MARKET TO ISSUE YOU A PAYCHECK.
Bear this last thought in mind and trade as if you are a 9 to 5 employee getting paid to click. See if it clicks.