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Empowerment for Traders

Site Administrator | June 11, 2012

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Special thanks to Adrienne Toghraie from Trading On Target for the following guest post:

At any time a trader has the choice to empower himself. Of course, the opposite is also true. One of the many reasons traders do not succeed is because they choose disempowerment in the way they behave in the markets.

So why would traders choose to disempower themselves?

  • They do not have or they do not think they have the resources
  • They have made “disempowerment thinking” a habit and this habit feels comfortable
  • They do not believe they are worthy or they have bought into someone else’s negative belief about their capabilities
  • They have proven to themselves through losses in their life and the markets that they are justified to behave without power
  • By making the choice to disempower themselves, they do not have to take action

Powering up

A trader powers up by choosing:

  • Positive images of himself as a winner
  • Words internally and externally that motivate and excite him into action
  • Actions that direct him towards a predetermined outcome and successful goals
  • To associate with people who have a positive attitude and live a lifestyle of what they preach
  • The best teachers and mentors
  • To collect the resources necessary for success

Disempowerment times

Are there times when it is appropriate to feel disempowered? Of course, but only for the situation at hand and not for the overall picture of how you think about your direction in life. Times such as:

  • A tragedy
  • Great loss
  • Disappointment
  • An expectation unrealized
  • When you are not well

In times like these you must allow yourself time to heal. Give yourself a time frame of how long you need to overcome this interruption in your life. Slowly, come back to your activities doing one thing at a time until you are back in full swing. Review your outcome and goals for each area of your life and give yourself permission to empower yourself.

Give yourself permission to empower yourself

Mike was a consistently profitable professional trader until his son died and his wife became so depressed that she ended their marriage. He felt guilty that he might not have done everything he could to save the marriage. This led to Mike sabotaging his trading and creating losses.

At my suggestion Mike took an extended vacation and found love in his travels. When he returned he thought he would be ready to jump back into his trading routine and become consistent again. With the memories of his wife and son and the losses surrounding him, Mike could not get back on track.

I suggested that he stop trading, move, and put everything that reminded him of his past into a storage locker. Then he was to revisit his trading plan and only work one hour a day until he gained back his consistency. I also told him that he had my permission to earn as much money as he desired, and it was okay for him to empower himself. Every day for two weeks during the process of moving and setting up his new place I sent Mike an email that read. “I give you permission to empower yourself.” After everything was in place with the move Mike wrote me back, “I finally got it that it is okay for me to empower myself.” Mike is once again a professional trader.

Conclusion

When you empower yourself, you become a model for everyone around you to empower themselves. This creates a boomerang effect that will support your trading and your life. It is always your choice. So, what do you choose for yourself?

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Risk Disclaimer: Past performance is not indicative of future results. Futures trading involves substantial financial risk. Views of guest commentators do not represent those of TradingPub.com. Article intended for educational purposes only and not meant in anyway as a solicitation to buy or sell certain securities. Please consult your personal financial adviser before using this information for your own trading purposes.