Have you ever felt scared to take a trade? Or even scared to perhaps fund an account, because of fear of blowing yet another one? Or maybe you’ve been scared to work with a mentor or to buy a trading course or programme because deep down, you just don’t feel like this is really possible? That trading is really doable? That you can actually do this for a career, as a sustainable living, right?
If so, I’m here to tell you two things today. Firstly, if you are feeling any of those types of fear you’re not alone, many people face them. And secondly, those fears are irrational. They aren’t true. Let me give you an example;
If you said ‘yes’ when I asked have you ever been scared to take a trade, that’s an irrational fear and it’s caused by having a gap within your mental-model, built on what you believe to be about to happen, because of a lack of knowledge and preparation, along with not correctly processing your current situation. Wow, that was a complex mouthful wasn’t it. Let me explain, let’s break this down together.
If you are scared to take a trade, that likely means one of two things.
One, you don’t have a proven edge over the market backed up by statistics, because if you did, you could simply look back on the data, confirm that you have an edge, and that there’s no need to worry, and then take the trade. Or two, you haven’t mentally detached from the money you’re trading with. Or both, right.
So, which is it?
Well, let’s say it’s the latter, let’s say you have a newly funded £1,000 account, you have a statistical edge over the market, but you’re worried about losing money. Again, you’re not alone, no-one wants to lose money do they. But, here’s where the ‘mindset hack’ that I have for you today comes in…
Whenever any worry of this kind comes up in the future, there’s one clear, proven way around it. To completely get rid of it. And it’s this: Ask yourself; ‘If I emptied this account, would I die? Would life end? Would I be left homeless, on the streets, searching for food and shelter?”. Likely, the answer is no isn’t it. I could be wrong and if I am I apologise, but for most people watching this video, on a computer at home, with an internet connection, if you were to blow your account, you would still have a home, you’d still have clothes and food and at least some money, wouldn’t you. You can lose the money and still survive, still live to make more money in the future eventually, right. It isn’t literally the last bit of money in existence on earth, is it. You can make more in the future somehow.
See, by envisioning failure and just rationally explaining the possible outcome/s, the fear is gone. It’s removed. Now, you can take that trade with confidence because you’ve realised, if it fails, so be it. If it wins, then great. Either way, one single trade is meaningless isn’t it. But even the entire account, if you blow it, so be it. If you grow it, then great. There’s a positive whatever happens because you either win, or you learn. There is no losing really.
Again, whatever it is, whether it’s a £1000 account, or it’s a programme or a course, or it’s a mentor you want to hire, will investing that money and possibly not growing kill you? No, but could it completely change your life? Yes, absolutely, so just going for it is a no-brainer, because if we use the investing in a programme as an example, it’s almost like taking a trade with ‘x’ downside, the price, and unlimited upside. Unlimited future gains and progress and learning and success.
Or if we use the taking a trade as an example, there are only two outcomes: You either win and you grow, or you learn and you grow. There’s no real downside to fear, and we can all find ways to make more money in the future if we have to can’t we. Money’s everywhere, money’s abundant.
Again, by envisioning failure, you can move past it. It gets rid of the “should I or shouldn’t I” that is holding you back. And when that irrational fear is removed, the only way is up. The only way is growing, learning, building, moving forwards. So, whatever is holding you back; If you’re scared to take trades because you fear the losses, if you’re scared about funding another account, If you’re scared to invest in a programme or a course or a mentor, then envision failure. And you’ll see that the downside is either small or even non-existent, and the upside is either small, large, or absolutely huge, life-changing. And let that logic remove the fear so that you can go for it and get on with growing, get on with succeeding, with winning.
Life’s too short for fear, especially irrational fear, so go for it, win, build, succeed, and when you’re at the top of your game, drop me a comment on this video saying thank you. That’s all I ask.
So, what to do next; Firstly, list out your irrational fears, use the above hack, and get them solved by mapping out the true logic behind them by envisioning failure and realising, failing wouldn’t even be that bad. Then, commit, and go and conquer the goal. And if you aren’t yet trading with edge, and that’s leading to the fear and frustration, we can help. Head over to our website, and you’ll find more info on how we can help over there on the ‘Need My Help’ tab.
I hope that’s added value for you, and from me and the team here at WBTrading, trade with edge, with consistency and we look forward to having you back here on the channel soon.
– WBTrading Team.