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The disempowering beliefs and perceptions you possess are typically negative emotions. Negative emotions are what all excellent traders strive to rid themselves of. Up to this point we have been talking about virtues, and empowering beliefs that a successful trader must possess. Now it is time to talk about some of the biggest vices a trader will have to deal with. As discussed previously, our beliefs generate a lot of these negative emotions because our expectations (rules) have not been met. We must overcome the negative beliefs, rules, and references about the markets (and to a large degree about life) that create our negative emotions and encourage our vices. In almost every case a novice trader will experience negative emotions while his or her trading account is creating losses. The primary emotion will be fear, which leads to anger, doubt, indecision, despair, and then resentment. |
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All highly successful people have mastered the ability to take their negative emotions and use them to motivate themselves. In effect, they have the ability to re-present (present again) the event that led to the negative emotion, and change the negative emotion into a neutral or even positive one. Every event that you experience is remembered by your conscious and unconscious mind regardless of whether you want it to or not. It is then remembered in the future, and re-presented to your conscious and unconscious mind, often creating fear or anger. |
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If you and your best friend were standing at a corner, and saw an accident where one car veered into the path of another car, you would both tell the police officer a different version of what transpired. You may have been aware of the velocity of the impact, the color of the car, and the sound. Your friend may not have seen any of that because he was focused on the dog that ran into the street, precipitating the accident. As you remember the accident, you will be attaching certain emotional feelings to it. You are re-presenting the accident to your mind, with all the emotional feeling you originally associated to it. The reality is that you are seeing only a small part of the overall picture. Now the emotional energy that you attach to the accident could empower you to become a better driver or, negatively, could create limiting beliefs. In other words, you could associate in your mind that you must always wear your seat belt (an empowering belief), or alternatively you could decide never to get a dog because dogs get run over by cars. This is a limiting belief in the sense that you would never know the joy a dog can bring. |
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Everything we experience through our five senses, all our emotions, and everything we vividly imagine is remembered by our mind. Our unconscious mind is unable to tell the difference between an actual event and an imagined event. When we subsequently remember that event, our conscious |
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