What is a Belief

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Beliefs are a primary way to filter information from the world. Beliefs are judgments, categorizations, meanings or comparisons. They determine how we perceive reality and relationships in reality. We literally construct our perceived reality through our beliefs. What you expect (i.e. your reality) depends upon your beliefs and they are largely unconscious.

One of the beliefs that is most productive for good trading is the belief that you are totally responsible for your own results as a trader. When you adopt this belief, then you can learn from your mistakes. You can make deliberate choices about useful and non-useful beliefs. You can improve by the matrix of beliefs you construct. However, if you tend to blame someone else (your broker, your spouse, the person giving you tips, or even the market) for the results that you get, then you will tend to repeat the same mistakes over and over again.

When traders “own their problems” and assume responsibility for the results produced, they then discover that their results come from some sort of mental state, which either allowed them to 1) follow their rules, 2) not follow their rules, or 3) trade without having any rules.

When traders take the time to write down all their beliefs (about themselves, the markets, money etc.), then they can establish a much better idea of what they want to trade, how they want to trade and they can also see flaws in their thinking much easier. It is valuable to know which beliefs support you as a trader and which ones hinder your progress.[/vc_column_text][/vc_column][vc_column width=”1/4″][vc_widget_sidebar sidebar_id=”flash_right_sidebar”][/vc_column][/vc_row]