Is Your Mind A Magnet [August Newsletter]

There’s a lot of talk these days about manifesting.

You know - that’s where you can attract your future by being the best version of ‘you’ that you can be.

And I do kind of get this. The way you treat others, your ability to recognise opportunities, and how you feel about yourself does play a huge role in what you achieve in the markets.

The unfortunate corollary of this principle is that whatever happens to you that’s bad is because you deserved it, or you attracted it in some way.

In my opinion, this whole way of thinking is so binary. Black and white. Childish.

Are you seriously telling me that the year I lost my voice, my mother died, my little girl had three operations on her leg, and the plague had all of Melbourne (my town) in lockdown for endless months… are you SERIOUSLY telling me that was all MY fault? That I attracted it all to me?

I can tell you one thing for sure though. If you’ve got bad things happening, how you process that trauma IS your responsibility.

What you DO with your pain is a better way of looking at things than feeling that you attracted that pain.

This is what I do when the bad luck fairy smashes me in the head.

Ask yourself:

1. Is this situation objectively awful? (Maybe it's actually not all that bad?)
2. Did I contribute to this in any way, and if so, what can I do to steer clear of this in the future?
3. OK, so this bad thing has happened. Is this pain useful to me in any way?

And if you’re in a cluster f#@k of rottenness… ask yourself 'What do these negative experiences have in common?'

Good traders step up and take responsibility.

But, more than that, they know that some things are outside of their control. It’s how we handle those issues that are the measure of the man (or woman… or extraterrestrial).

Thanks to the armchair philosopher (who inspired this article) who wrote this to me: “I know you think of yourself as emotionally well-balanced. However, if you truly were, then why couldn't you speak for a couple of years recently? I don’t think you’re in a position to lead people psychologically if you can’t get your own act together.”

You know who you are.

You made me think deeply about this issue. And just for the record, I don't want to follow the advice of an unmarried marriage counsellor.

I’d rather follow someone who has been in the trenches, with the bloody nose, who eventually claimed victory over their circumstances.

I know there's a lot of pain at the moment.

The property market has people ducking for cover, the economy is squishing the very breath out of your lungs, the number of businesses failing is ballooning, and the markets are are as skittish as a trembling whippet on ice.

I hear you. But if you’re going through hell… for goodness sake… keep going.

Don’t hang around to admire the view.

Keep reading to hear the harsh truth about time, and the four words Chris Tate told me once that resulted in me making the best trade of my trading career.

As you age, it becomes surprisingly effortless to let a year or two (or even five) slip away without tackling those significant goals you've always aspired to achieve.

You fall into a routine - not necessarily one that brings immense joy, but one that becomes a familiar pattern, etching the lines of your daily routine even deeper.

To make room for the things you've long desired to pursue, shed some of the busyness that engulfs you. Don't wait for the perfect moment; instead, quit allowing the days to pass by aimlessly.

Quit behaving as if time is limitless. This your one shot at it. You don't get a 'do-over'.

Two Rules

Ever felt like making a decision in trading is as tricky as choosing door number 3 in a game show? I get it, and I've got two secret rules that are the backbone of my trading decisions.

Rule #1: In trading, ‘Decision Moments’ shape your destiny.

Make the decision in advance so you know exactly what you’ll do in every possible situation.

If you're cramming your day with too many decision moments, you'll get fatigued and mess up.

Avoiding a decision is still a decision - usually the worst one.

But this is the secret sauce: Bad decisions are reversible the majority of the time. So, work on your trading plan and make sure it covers every contingency.

Rule #2: No 'eeny meeney miney moe' in trading.

Don't just blindly pick a trade like choosing a holiday destination.

Prep yourself. Make a conscious choice - based on evidence.

Mindless intuition is a common blunder. Instead, run your hunches through the ‘Reality Grinder’ of an effective trading plan.

Coincidentally, this is exactly what we’ll show you how to create in our Mentor Program.

It's time to book into Priority Notification so you'll get our mini-masterclass on effective trading.

"Even within the first few weeks of the Program, I started putting my trading portfolios in order – and I’ve had results immediately.

I’ve covered the co$t of the Mentor Program already and I’ve traded with just a fraction of the capital I have available.

Results count and this is so much more than just a ‘feel good’ course. You’ve taught me specific strategies that I’ve successfully applied and made gains straight away.

You really have a lot to be proud of in the way you teach and that knowledge obviously sticks and shows in your students’ portfolios!

You are both excellent Mentors, with unique teaching skills that complement each other perfectly.”

George's results are through the roof!

"I loved having the confidence of being with people who have done this before. My results have gone through the roof!

Since being involved in the Mentor Program, my trading has managed to pay for the co$t of the program more than 20 times over!

I've been trading for nearly two decades and was not really successful, so the Mentor Program has just turned that right around. You must do this!"

This is your continuous shot of trading inspiration!

Keep up with the latest market moves. The podcast will fuel your cashflow, squash your fears and drive you towards exceptional trading habits.

Get onto Talking Trading at talkingtrading.com.au

Below are two recent episodes...

How to feel worthy, grow your bank balance, and banish the Impostor Syndrome once and for all.

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Get $$ Trading

Cha-Ching! It’s time to unlock your market fortune. This interview with the AlphaMind traders will boost your bankroll and help you turn your trading challenges around.

Read more

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Perfect for busy traders, Trading Nuggets offers a four-day (from Aug 13th - 16th) daily dose of wisdom to refresh your strategy and reignite your passion for trading.

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Whether you're feeling stuck or just need a quick boost, these bite-sized nuggets are designed to pep you up and get you trading at your best.

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I remember a particular time when Chris was by my side as I was trading. He saw my flustered distress and excitement at the bounty on my screen as a big profit was accumulating (yes, even unexpected inflows can cause a stress response).

He whispered, 'Remember... be a pig. Be a pig.'

In trading circles ‘being a pig’ means that you should not let fear make you back away from sticking with a trade that’s trending (so you can capitalise on a larger profit down the track).

It really helped. It soothed my impulse to grab that windfall, convert it to $, and make snow angels on my bed with the notes - while singing Beyonce's 'Independent Women' (Okay, maybe a little too much self-disclosure there.)

By hanging onto a trade that was trending, and sticking with my trading plan, that particular trade was one of the biggest trades I’ve experienced to date.

If I had sold out when I had the initial inclination, the profit wouldn’t have been anywhere near as impressive.

We don’t have a safety net. We don’t have an employer to bail us out, or government assistance to see us through. We know it’s all up to us.

Yes, all the burden is on your shoulders. So get into the habit of associating with other investors in the trenches, otherwise, you will not achieve the returns you desire.

Recognise the importance of finding the right mentor. And keep building good habits.

These are some other habits to add to your list:

• Keep running your scans so you don’t get out of practice (even if there are no opportunities to trade because you’re fully invested).
• Keep a journal to record what you did well and what you should do differently.
• If you have a spouse, schedule a boardroom meeting to update each other about essential developments.
• Set aside some time to examine the trades you don’t take.
• Did any of those skyrocket, and if so – can you work out why? Are there any lessons? Review the trades where you were stopped out.

Until next month - Happy trading!

Louise

P.S. The army of Investing Psychology Secrets readers is growing! You can get on board too. Send me a photo like these people did and I'll send you a present! You'll love it!

Read more to unlock the six keys to psychological fitness in the markets.

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