“There is someone in my head, but it’s not me.” Pink Floyd
Have you ever noticed all that idle chatter going on in your mind while you trade?
Have you ever taken the time to listen to it? I mean really listen to it.
Have you ever connected the dots between it and the success or failure of your performance in trading?
This running commentary in your mind is so ubiquitous, so commonly familiar, so ordinary – that most do not give it a second thought. In their blindness they think, “It’s just me and my thoughts.”
Yet, when it comes to crunch time (like the mental and emotional readiness you need to pull the trigger, or maintaining emotional sobriety while in a trade), the seeming harmless self- talk that you simply pushed away or ignored moments ago roars like a lion in hot pursuit of its prey….
Meanwhile, you keep believing that if only you could push those pesky thoughts out of your mind, you would be able to break through the barrier that separates you from consistent profitability.
But at exactly the most critical moments in your trading, this background noise in your mind keeps suddenly erupting into a tirade of self-doubt or temptation, judgment, blame, or fear. How can something that is supposed to be so familiar and harmless rise up and become a tidal wave that sweeps your trading mind away?
Well, just because it’s so common that it attracts no attention does not mean that it is harmless. What is important to realize here is that you, as a trader, do not understand the power of the internal dialog or what comprises this narrative in the mind.
That lack of understanding shows up in your trading account in the form of losses or the loss of potential profits every day until you come to a very new understanding about what is actually going on underneath the hood of your mind