If you have asked yourself, how to become a master trader, you are looking outside of yourself for the answer. To be a master trader you must conquer your fears, conquer your emotions and your limiting beliefs, and you must tap into the part of you that is alignment with universal consciousness.
Conquering your fears
Fear is so deeply imbedded in all of us from childhood onward that we are often not even aware of its existence until we start trading. When our security is on the line, we are at the mercy of our fear. In 2005, scientists began publishing their papers announcing the discovery of the “fear gene” showing that we are hard-wired for the base level of fear we are going to experience naturally in our lives. This gene, known as stathmin or oncoprotein 18, controls the production of a protein that is associated with fear responses including phobias, anxieties, and post-traumatic stress disorders. We also know that each of us produces a certain amount of the neurotransmitters that affect anxiety, such as serotonin.
Knowing that we are each predisposed to feeling a certain level of fear, it would be easy to excuse ourselves from the task of working on our own fear responses. But, that would be a big mistake. There is more than one way to skin a cat, and the problem of fear is just another cat that needs to be skinned. Here are two ways:
1. Side by side with science is two thousand years of experience in the art of meditation. It was not until the mid 1970’s that we began to understand that the right kind of meditation could turn off the fight or flight reflex. This extraordinary advance allows us to experience the most extreme stresses while remaining calm, detached, and perfectly focused.
2. A second option is available to even the most timid among the trading population. Working with a neuro-linguistic programmer can help a trader to reframe an experience that would normally create fear and transform his reaction to it. Phobias and fears can be neutralized through this method of treatment.
A trader who wants to be a master trader must be willing to do the work. I am not a big proponent of taking medication to quell fear, although I admit, that in extreme cases, it can be the only effective means.
Conquering your emotions
When a trader experiences the emotional roller coaster associated with real time trading, he soon learns that, no matter how good his system is, he will need to conquer his emotions if he is going to be able to follow it. But, a master trader is also a master of his emotions. Again, this means that he must be willing to address any issues he has that create emotional states that cause sabotaging behaviors.
Working on conquering emotions can be done on one’s own if the trader is well balanced and does not have moderate to serious emotional issues to address. But, if not, he must find an outside resource to help him resolve his emotional issues.
Conquering your limiting beliefs
A master trader must look inside himself to find out what he believes and how each of his beliefs influences his outlook, as well as his trading. A good start in this process is for a trader to maintain a journal in which he writes down his thoughts. Over time, he will begin to uncover his beliefs and which of these beliefs are limiting ones. However, often a trader is unaware of those beliefs that are actually limiting his trading. It can be like looking at the back of your head – you need a mirror to see it. In this case, someone else may need to act like a mirror for you. The best mirrors for your limiting beliefs are trained counselors who can help you to identify those limiting beliefs and then help you to overcome them.
Tapping into the part of you that is in alignment with the universal consciousness
A master trader is not separate from the world but an integral part of it. He is tuned in to the vibrations that emanate from all the forces around him. Once he has been able to align himself with the universal consciousness, his trading will reach a level that cannot be attained through the most disciplined and brilliant technical trading because he will be able to use his intuitive anchors as signals for his trades. But this will not be possible until he has cleared the decks of all the negative emotional and personal issues that prevent him from reaching this level of fine-tuning. In addition, he will spend a part of every day bringing his mind to a state of calm and peace, which will allow him to be absolutely focused and aware without anxiety or stress.
All of this work is done internally, without looking to anyone else for a model of behavior or answers about what it takes to be a master trader. Because the answer is within. Copyright 2009
From “A Lesson A Day For Traders” – E-Book #2