Results could mean different things to different people. Depending on where one is on their journey, the smallest of results could build a mountain of psychological momentum. This is what we focus on.
We can careless what others do. We can careless what others have achieved and the amount of time it took to achieve their results. The only thing we are concerned about, is our own results. This is exactly what we suggest a trader to focus on, their own results. One of the biggest mistakes a trader can make, is to compare their growth to another.
Results, despite their size, are powerful. As a growing trader, the amount of work one puts in, will directly show in their results. When those results begin to build consistency, something very interesting occurs – confidence; and a trader’s confidence plays a vital role in their overall success in this business.
In doesn’t matter how small the results are or how slow they may come in, psychologically, they’re acting as the foundation for long-term growth. Little by little, one trade at a time; a trades results are the output of their efforts.
The speed in which positive results come in, could be difficult for some traders to handle. A trader’s patience, or lack thereof, will become exposed; if it’s a problem for them. Many newcomers compare themselves to others. They compare their results to what they see some random trader post on social media; which is mostly b.s. Professional traders aren’t worried about what others think of their PnL, we can careless! So, unless you’re under some time limit to make money as a trader (and you should never put that kind of pressure on yourself), then the speed in which positive results come in, should be irrelevant.
Once you shed the wasted time spent on comparing your results to someone else’s, your own results begin to become addictive. They’ll begin to take on a life of their own. You’ll begin to have ‘Ah-Ha’ moments of clarity, which will naturally lead to further growth. But make no mistake about it, you’ll still have plenty of bumps along the way in the form of negative results; that’s just the part of being a trader. Key is to chalk those results up to lessons and ‘keep things moving forward’. Avoid staying stuck in the negativity of a losing trade; take the L and move on.
Just like anything we do consistently for an extended amount of time, you’ll learn to take results and use them to further fuel your growth as a trader.
Build off your results and you’ll always have a seat at the trading table.
Members, we’ll be going deeper into this concept on our VLOG.