As a mentor I have many traders asking me that very question, but referring to themselves, not to me 🙂
I usually try to teach them how important it is to change the “internal dialogue” and start seeing things from a different perspective.
But why? What is wrong asking “What is wrong with me?”
The truth of the matter is that, although that question will not help you, it does show your willingness to accept the responsibility for what you are doing, and that is an important step: Accept responsibility!
Notice that we are using the “wrong question” as a tool to find something transformative, in this case, Responsibility.
Almost everything that we do wrong in the trading business is based on something that could easily be transformed into something good. But we have to have a system of thinking that helps us to apply it.
Here Are 3 Important Steps To Transform Your Trading Obstacles
FIRST STEP: Make a list of all the obstacles that you think stop you from trading successfully. You can actually be very specific and write the obstacles that you think are stopping you.
Do not be afraid of writing too much. Everything that comes to your conscious mind comes from your unconscious so this is a way of getting in touch with those unconscious beliefs that stop you from being successful in trading and often in many other endeavors.
SECOND STEP: The second step to this exercise is transforming each one of those obstacles into goals. That is rather simple…
Let’s say that you don’t have the discipline to wait for your ideal set up. That will be your obstacle, right?
Now you write a goal that is impossible not to achieve.
How do you that?
We write our goals in levels: Good Achievement, Better Achievement and Best Achievement.
And you make sure that your good achievement is based on previous experiences. In other words it is based on something you have previously achieved.
You don’t give yourself the chance to fail.
Let’s be more specific… Let’s say that being disciplined for you means to wait for that specific set up.
Your basic achievement might be to wait religiously for those set ups once during this week.
A better achievement could be to wait patiently for those set ups twice during this week.
And best achievement could be to do the same for ALL the trades you took during the week.
THIRD STEP: At this point you’ll need to develop strategies to achieve those goals. You may then start brain storming about all the things you can do in order to achieve that goal.
For instance… you may start thinking… “Hmm… I need something to do while waiting for the set up that does not take my attention away from the charts… what can I do?”
“I may try to practice conscious relaxation… How can I do that without closing my eyes? How about if I just concentrate on my breathing to calm down my thoughts – maybe that way I’ll be relaxed”
“I could develop an indicator or an alarm that recognizes when the required conditions for my set up are present.”
“I could listen to beautiful relaxing music while I wait.”
You could be as outrageous as you need to while brain storming. You could make a partnership with another trader and take turns to watch and let each other know…
I don’t care how outrageous your action steps in order to achieve your goal could be. As long as you ask the right question, more likely your unconscious will give you the right answer.
Obviously if you ask questions like why am I such a bad trader, the answers you will get may be: because you are not meant for this business.
So ask yourself the right question, follow these three steps and you’ll have no other option but to improve your trading psychology and become a successful trader!
I hope this article helps you understand the answer to “What’s wrong with me?” There is NOTHING wrong with you! You can use everything to become a better trader every single day.