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interpret that price movement. Their perceptions are controlled by their beliefs about the market, which in turn are controlled by the strength of their values and vices. |
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As you start developing your overall methodology, always strive to ask yourself the highest-quality questions that you can think of. The better the quality of your questions, the better the quality of your methodology. The reason that successful traders became successful is that they constantly asked themselves questions on how they could better exercise their virtues, create empowering beliefs, and devise a better trading methodology. Consequently they were constantly improving their methodology, beliefs, and virtues. By consistently asking effective questions, they were able to control their focus. Your unconscious and conscious mind will bend over backward to achieve what you are focusing on. |
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Questions have an unbelievable power on your ultimate success. Too often novice traders consistently ask questions that focus attention on their vices. For example, after losing money, many traders will ask themselves a lousy question such as this: "Why didn't I realize the trend was down before I went long?" This is a very negative question, since the answer will only focus their attention on a vice such as fear, not accepting responsibility, and doubt. A much better question is: "What can I learn from this experience?" Here the focus is on the virtues, such as confidence and certainty, and in order to create more certainty, more research must be done. In addition to the quality of the questions is their sheer number. Ask as many questions as you can think of: Successful traders become successful because they ask questions that the novice traders fail to ask. |
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By asking questions, you can change your focus, and therefore what you are feeling. Empowering questions after losing money include: "What's great about this?" "What can I learn from this?" A negative question is: "How come I can never make any money?" As you develop your methodology and start working on increasing your virtues, your brain is prioritizing what to pay attention to. However, since the amount of information the market presents is huge and comes at you so fast, your conscious brain is rather limited on how many different pieces of information it can concentrate on. Consequently your brain is very busy prioritizing what not to pay attention to. |
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In order to be angry, a trader must not be paying attention to all the reasons for feeling happy. In other words, if the last trade resulted in a major loss, the trader will be paying attention to a lot of thoughts related to that loss. Consequently the trader will not be paying attention to reasons for feeling happy. The trader is focusing only on certain thoughts and ignoring others. |
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