I’ve been through a few wipe-outs in my life. I was wiped out emotionally when I didn’t get into the University course I craved. I had a business in Personnel while I was at University, which I drove into the ground. Then I was wiped out emotionally and financially when I invested in the now defunct Pyramid Building Society. Oh yeah… then, my extra wipe out happened when I lost the use of my arms for a couple of years and had to leave my corporate role to become a full-time trader.
Even with these wipe-outs… I firmly believed that no financial position I found myself in could become permanent, unless I let it become so. If I fed it with a negative attitude as it’s fertilizer, if I allowed it to take root within my mind set and flourish – then the state I was in at that time would be permanent. If I had let those downfalls hit me and plant themselves solidly, I never would have been able to mount another comeback, re-create myself, and move on.
There are no absolute certainties in life. Even as I write this, I hope I’ll never have to launch another ‘Louise Bedford recreation’ campaign. I can tell you, rebounding is no fun. However, I do hold onto the thought that each recreation has come a little more easily, thanks to the benefit of experience.
What are you hanging onto? Is there a life circumstance that you’ve allowed to take root like a noxious weed? Or are you prepared to be fluid in your views and create a totally different reality for yourself?
I can tell you that the best traders have planned on success long before their realities showed any signs of it at all. In their mind’s eye they can see the life they want to lead, the money they want to earn, and the people they want to associate with. They don’t like set-backs (who does?). However, they compartmentalise their current reality long enough to work on the reality of their future. They box up their circumstances and refuse to let the past dictate what will happen in their lives over the next few years.
Right now, you may be neck deep in problems. You may be stabbed with feelings that you’re not worthy of success. You may be picturing a future that doesn’t involve you spreading your wings.
I guarantee that if you feed these circumstances, and give them permission to take root, then you are giving them permission to become a permanent fixture in your life.
No financial situation is permanent, unless you give it permission.
One Habit You Must Cultivate
It’s said that in five years we actually experienced a lifetime change that our grandparents experienced over 75 years. Do you know what? Things are galloping forward faster and faster. It’s not just technology. It’s how we he handle it. We have constant interruptions. We have phones that beep in the middle of the night – and we answer them! It means we’re sleep deprived. We actually have trouble concentrating unless we have our phone with us.
If you’ve ever left the house and realized that you don’t have your phone with you and panicked, you’ll know what I’m talking about. My goodness, doesn’t it sound a bit like an addiction?
Things have also changed on the career front. No longer do we have a job that lasts us a lifetime. We are said to have between three and seven jobs – not just jobs – absolute changes of career. Complete retraining required.
Do you know what they say is happening? It’s during those times of retraining people are falling into poverty. They might be high-earning executives. They may have incredible positions of power. But when they’re unemployed, they go down to nothing – absolutely nothing. Sure, income protection can help you a bit, but you and I know that really living on 60-70% of what you’re earning before, you are going down into poverty in your mind.
Do you know what trading can do? It can act as your buffer. You no longer have to fear what the economy is doing. We can teach you how to trade regardless of whether the markets are going up, down, or sideways.
Another big major change that the futurists are telling is occurring is that people are starting to lack confidence. Not only are we lacking confidence, we’re actually portraying that emotion and developing children who are lacking confidence in their ability to earn. It’s a travesty and we need to call a stop to it now. Join with me. Make a stand. Tell yourself that you can do this, because I know that you can.
I have a challenge for you. This is one habit that you must cultivate if you’re seriously going to make an impact in any area of your life. I challenge you to avoid a trap of giving an 8, 9 or 10 in effort to an opportunity that really only scores a 3 or 4 (in size, importance, and the ability to create money or emotional satisfaction). What are you applying too much effort to and what do you need to apply more effort to?
Might be a good time to do some reassessment here. Seems like a good time of year to do so.
Louise Bedford (www.tradinggame.com.au) is a full-time private trader and author of four best-selling books – The Secret of Writing Options, The Secret of Candlestick Charting, Charting Secrets and Trading Secrets.