Lisa finally closed the trade, but not before she had lost her daily limit in this one trade. She was not happy about the outcome; however she knew that it could have been worse. She said to herself, “Even though it is a lot of money, I am getting better at identifying zones and executing the trade according to my plan.” She then shut down her platform and began to go through her end-of-trading-day routine. It wasn’t as though Lisa liked to lose; it was just that she had learned to accept losses as a part of doing business and knew that she had traded “as” a winner by keeping her rules and trading her plan. This fact really helped her process the loss in a way that supported her rather than being an albatross around her neck. What she told herself about the trade went a long way to helping her remain focused on what matters most.
Statements that you tell yourself can be powerful as they are the physical outcomes of what you think. Additionally, statements can be used to focus your attention in order to remain on task and on purpose. Another word for a powerful and positive statement is “affirmation” as in a statement of truth or an assertion. However, did you know that as powerful as statements or affirmations are, to ask the right question can be even more intense and impactful? Try this, say out loud the affirmation, “I plan my trades and trade my plans perfectly.” What happened? Did you hear or sense in your head a voice that said, “No you don’t?”
Affirmations are an excellent way to hone your mind and address underlying negative thoughts about you and your trading that distract your attention and distort your judgment. Furthermore, they can help you to create and maintain self-statements that are proactive. But, affirmations alone can sometimes fall short when you are using them to directly deal with “limiting beliefs.”
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