In my 7 Day reports in the Coach's Corner each week, over time you may have seen that I continue to read some of the same books and listen to the same audio programs. Books such as Think and Grow Rich by Napoleon Hill and Mark Douglas' Trading in the Zone are classics--I always learn something new every time I read them. The same holds true with Jim Rohn's Art of Exceptional Living and Brian Tracy's Psychology of Achievement audio programs--every listening reinforces their excellent teaching and opens the door for new learning as I'm traveling down the road.
This really came to light for me this week as I finished another review of Psychology of Achievement. At one point, Brian Tracy made the statement that, when we set precise goals, our subconscious then starts to deliver "obstacles or challenges" (often viewed as failures at the time). The subconscious sends these to us because we have certain lessons we have to learn before we can move closer to our goals. It reportedly took Thomas Edison over 10,000 tries to create the incandescent lightbulb--when asked about these many "failures", Edison replied that he had not failed. Rather; he had discovered 10,000 ways not to invent the lightbulb. (Recall the magic of the 10,000 figure discussed in Driving Your Way).
I thought about Brian Tracy's statement and how it applied to my early Fx trading days with trades dominated by 5 minute charts and not the higher timeframes; charts full of indicators and not just market flow from price action and days when my focus was on over learning and over analyzing the markets and not focusing on my mental training and mental approach to trading. These were but a few of the many obstacles delivered to me that served as critically important lessons in my maturity as a trader. Losses were far more abundant than profits, but they were part of the journey toward improving my trading results over time.
Through journaling trades, practicing trading through visualization and by taking notes on trading thoughts and observations in a separate journal, I continue to work on refining my trading every day. Learn from every one of your trades and be a stronger, wiser and better trader this week than you were last week.
Have a great trading week!
Learn the correct way to use candlesticks in your trading--free webinar with Steve Nison on January 31, 2012: http://www.1shoppingcart.com/app/?Clk=4596971 (As with any affiliate program associated with Driving Your Way, a portion of any affiliate commissions will benefit St. Jude Children's Research Hospital: www.stjude.org).
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