Motivation & Determination To Trade Like A Champion [January Newsletter]

It's a brand-new year!

But, of course, you knew that.

How has 2024 started at your place?

After a refreshing break with family and friends, we've jumped back into all the things we love the most.

Returning to our exercise regimes, slotting into our diaries the major things we're looking forward to this year, and checking our trading systems and plans are still relevant for the short- and long-term results we're aiming for.

We've got a heap of new trading info and resources that we're keen to send you throughout the year. So stay tuned!

Keep reading to hear how a work colleague tried to kill my trading dreams, and discover what gutsy move led a couple of young, eager, computer geeks create what today is the most valuable company in the world.

Let's go!

Years ago, I was working as a nameless cog in the telesales industry.

Not glamorous, very low-paid, and totally expendable. But I always hoped I’d be destined for better things.

I met my first real trader at that job. Glen, a lazy salesbloke who just scraped by, but always seemed to be absolutely loaded with $$.

The best suits, silk ties, the best car... the arrogant attitude. He was just a little bit older than I was, but radiated smugness about how smart he was.

I was intrigued. I thought 'how can you be rolling in moolah but just make your target each month?'.

So I asked him, “Hey Glen, are your parents really wealthy or something?”

He explained to me that he was a trader and that he didn’t really need to work, he just did it to keep himself busy so he wouldn’t tinker with his trading plan. So I asked “Do you think I could do that? I own some shares.”

He looked at me like I’d just farted on his desk. "Forget it, Louise," he said, dismissing me. "It’s too hard. You're not a detailed person."

I could have slunk back to my corner of the dungeon, put in my place and sulking. But instead... I allowed his insult to burn. And I harnessed the building rage I felt at being dismissed like that.

I was propelled like a rocket bursting into the sky by the negative motivation welling up in my gut. I didn’t see much of Glen again after he left his job. But I thought about him every step of the way in those early years of my trading career.

I especially thought about him when I left my job to become a full-time trader. Take that, Glen, you would-be dream crusher!

Harnessing my anger and focusing it on my growth, was WAY more powerful than any other motivational technique I’ve come across, and I’ve tried them all.

There’s no shame in using negative motivation.

In fact, it’s behind the wild motivation of most traders. There's often someone who told them they can't make it big in this game.

They just don’t usually share those ancient humiliations and put-downs with the general public. It’s their own secret reason for growth.

Glen, wherever you are, I want to thank you, yet again, for all you’ve done for me. That throw-away insult kicked me in all the ways I needed to be kicked.

And the adventure it launched me on still thrives. I wouldn’t be who I am today without him (and my brainless, sanctimonious accountant – but that's a story for another time).

Have you ever been insulted in the past and still feel the sting to this day?

That anger could serve as a burst of negative motivation to propel your business to the next level. So don't block that negative emotion... feel it, and then use it.

Who is the biggest name that pops into your head when you think about personal computers?

I'll bet you it’s Bill Gates. And while we all know about his charity work and his very public divorce, there's one part of his story that every trader should know about - how he got started.

Back when he was just a teenager, Bill stumbled upon an article about the world's first personal computer.

He was immediately hooked and decided to get in touch with the company behind it, Micro Instrumentation and Telemetry Systems (MITS), to speak with their CEO, Ed Roberts.

Pretty gutsy for a teenager, hey?

But when Bill told Ed he had developed basic language software for their computer, Ed didn't believe him.

Undeterred, Bill told him he would visit their office in two weeks and show him the software himself.

The glaring issue was, Bill hadn't actually invented any software or any basic computer language yet.

So, he and his mate Paul Allen got to work, creating, testing, and developing the software from scratch. And when they presented it to the board at MITS, to everyone's surprise, it worked!

This feat helped Bill set up the process that eventually led to the creation of Microsoft. And it's all because he believed in himself and was determined to make things happen, even when the odds were against him.

This story is one of my favourites because it's a masterful demonstration of the power of self-belief and determination.

If you're a trader looking to make your mark, take a page out of Bill's book and hit the gas on believing in yourself.

Who knows where it might take you!

Somewhere, deep in your gut, you know you want to trade like a champion. Let that feeling take hold, and then work like heck to make your vision come to fruition.

You can make the most of your time by listening to the Talking Trading podcast when you're driving, working out at the gym, or walking the dog.

Get onto Talking Trading at talkingtrading.com.au

Below are some recent episodes to get you started...

Curious Habits to Supercharge Your Trading

This approach has the potential to revolutionise how you approach and enhance your trading habits. You’re going to want to apply the Catch, WAIT, Reset method immediately.

Read more

From Triumphs to Tumbles: a Year-End Review

Embark on a journey through the highs and lows of the 2023 markets with Chris Tate and Louise Bedford, as they unveil the year's most significant themes and surprises. Plus, get yourself set for a year of exceptional trading in 2024.

Read more

Crack the Time Code to Boost Your Trading Results

Time is $, especially when it comes to trading. In our latest Talking Trading Podcast episode, Louise Bedford sits down with Rik Schnabel to reveal the secrets of cracking the "Time Code".

Read More

As we kick off the new year, let's get set to take your trading to the next level.

These are my top methods of reinforcing a good habit to get the year started with a bang.

1. The Convenience Technique

One of the truths about habit formation is that things must be convenient to do. If you have that exercise machine already set up in front of the TV, I'll bet you’re more likely to use it, in comparison to if it was stored under your bed.

The fact that it’s already set up means you're more likely to use it.

Have a think about how you can make your trading more convenient. If your desk is messy, so you can’t spread yourself out... or if you haven’t got a convenient icon set up on your computer desktop so you've got to do 3 button clicks to find it... you’ll be less likely to trade.

Everything can be made better by making sure that things are more convenient.

2. Pair it

Linking one desirable reward to another less desirable behaviour will reinforce that behavior and make it more pleasurable.

I let myself listen to my favourite podcasts while I’m at the gym. This reinforces that going to the gym is a fun thing to do, and has entrenched this good habit in my mind.

Have a think about what you can pair together. It might make all the difference.

Happy trading!

Louise

P.S. Know that a dream is at its most fragile when it is first birthed. So be careful about confiding in your friends when you're kicking off as a trader. They may squash your dream and you'll miss out on seeing what might have been.