Yeah, yeah… usually I’m saying “Move, Act, Hurry”… but today, I want to consider the power of putting on the brake.
Generally, procrastination is the language of the poor. It’s a key difference between the way the rich and the poor think. The rich aim to learn a new skill, implement it immediately, and reinforce the lesson. The poor will get around to that sometime… OK… maybe never.
However, because you’re reading this article, I already know that you’re a peak-performer, and you’re keen to trade brilliantly. As a decisive, accomplished go-getter, you’ve already trained your subconscious mind to detect patterns.
Often though… the ugly truth is… I see traders rush into trading, without fully educating themselves about the risks. They take a punt. Throw a bit of money at the markets. Have a dabble.
If you want to see if you’re ready to trade, and you haven’t taken my free, ‘Trading Made Simple’ quick crash course, then click here. If you can go through that course, one lesson at a time, and understand it all… you’re probably ready to get involved with real money.
Listen to your instincts though. If you’re experiencing a sense of dread about a decision, or if you’re having nightmares about losing all your money… you may need to put the breaks on a little. Pause. Breathe.
The markets will still be there when you’re ready to place a trade. You never know… you may just be trying to silence a nagging voice of concern which could be your subconscious giving you a message.
And certainly don’t just jump in because everyone’s buying a bit of bitcoin to give themselves bragging rights.
Personally, the worst business and financial investments I have ever made were when I rushed the process. When I pushed ahead, gagging my little freaked out voice of reason, and when I was pressed by others to act quickly – I fouled up the whole damn lot. Bad decisions were made. Consequences had to be lived with.
Sometimes it’s good to step back, and squint at the problem. Few things go from idea to fruition without unintended consequences. There are ripple effects you need to consider.
If your intuition is nagging that something doesn’t feel right… allow it to be heard – or you may just suffer the consequences.
No one will ever care as much about your money as you do – so sometimes delaying a decision can be the best decision.
Most loss of wealth comes from carelessness. When you stray from your trading plan or don’t actually follow one, money dissolves.
Most creation of wealth comes from calculated effort and learning the lessons of theory before risking it all with one big bet on ‘red’.
I hope you find 2018 to be a glorious jumble of trading opportunities, and that you made some choices to shape your world. The ripples of impact that you’ve created, when you decided at the start of the year to be an exceptional trader… well… you just never know how far they’ll spread.
And, if 2017 wasn’t the raging success you were hoping it would be, then another new, bright, shiny year has just begun. You get to start again, fresh with the wisdom you’ve accumulated already, paying attention to the divine winks of your soul that knows you have trading greatness within.
It’s up to you to make the most of it.
About the author
Louise Bedford (www.tradinggame.com.au) is a full-time private trader and author of several best-selling books, including The Secret of Candlestick Charting, Charting Secrets and Trading Secrets. Get the results you deserve. Grab her free 5-part e-course called ‘Trading Made Simple’, by clicking here.