This can be a tough topic! We're not used to asking ourselves this question, but we should ask it and reflect upon it. I would dare to say that when you are very clear on the purpose for why you choose to go into trading, and that purpose is connected to something deep, meaningful, and extremely important to you, then you are much more likely to last long enough through the tough times in trading and get better at it than if your aim was just to make a lot of money or have quick success.
This week's episode reminds you to reflect on your deeper WHY for trading.
You need to be “clear on the purpose for why you choose to go into trading.”
EP 014 Transcript
Welcome to the Affirmations for Traders podcast, a special space created, especially for you to listen to affirmations that make a positive impact to support you in your trading journey. I'm Tessa your host, like many of you as a trader, I understand the struggles of this journey very intimately. I believe that by adding the power of affirmations to your toolbox, it can be the game changer that you're looking for to help you improve your trading potential and to develop yourself into a better trader.
You're listening to episode 14 of the Affirmations for Traders podcast.
How's your practice of becoming a better trader going? It doesn't happen overnight and it does take time, patience, and mental strength to continue in your trading journey, doesn't it?
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There was something I mentioned about in last week's episode that I would like to elaborate on a little bit more because it's important!
I mentioned about the WHY. Knowing Your Why (as in W - H - Y), why you have chosen to trade.
Why is this WHY important? And what do I mean by your WHY? What I mean is... what's your "purpose" for trading? What is the reason for you to get up and trade? I say this because for example, if our purpose is only to make a lot of money, then this may be a bit harsh for me to say, but we would not stay in the game long enough. Because to make a lot of money by itself is not meaningful, strong, and compelling enough to help us through the rough roads that we will face in our trading journeys, because while there is a potential to do very well in trading, you can also lose a lot of money and feel awful. And when you feel awful, you would likely quit before giving yourself a chance to really learn and do better.
It makes me feel vulnerable to share, but I want to share to give an example that my ultimate WHY for going into trading is because I want the FREEDOM to be able to spend enough time with the people that I want to spend my time with whenever and wherever I want. That's the primary reason for me. The secondary reason is I want to be able to do work that is meaningful to me, whether it makes money or not. And I don't mean trading as work, trading is a means to an end that I'm doing now, but spending time with the people I love and doing meaningful work is the ultimate is the "end" goal or the "why".
For me, without being able to do those things in my life will result in a less than fulfilling life. And that alone for me is a big WHY for why I'm trading. I chose trading as one of the routes to help get me there.
Now, my WHY may not be the same as your WHY. But your WHY must be important to you and it looks different for everyone.
Most traders fail for many reasons, for example, such as not having enough capital, or the skills, the experience, or the self-discipline, and the list goes on... etc.
But something that is often overlooked and underestimated is not having a strong enough WHY or reason for trading. If our WHY is GREATER THAN THE PAIN that we will inevitably go through, then we have a chance of staying in the game long enough to learn, practice, build strategies that work, build a trading process, and get better at trading.
So, that's just what I wanted to emphasize a little bit more based on what I said in last week's episode.
So, this this week's affirmations focuses on the WHY for trading.
Do you know YOUR WHY? Take the time to examine this and get clarity on your purpose. This is related on some level back to Episode 1 "A Renewed Sense of Purpose" - remember that one? Way back?
So now, let's turn to our affirmations.
Before we start, let's prepare ourselves. Take a moment and close your eyes. Give yourself permission to be open to the affirmations you're about to hear. And feel free to repeat along with me.
I am thankful every day for having the privilege, opportunity and resources to trade.
I am resourceful and reach out for help and support when I need it.
I continually learn and develop my skills as a trader.
I continue to take care of myself physically, mentally, emotionally, and spiritually.
My purpose for trading goes deeper than to just make a lot of money.
My Why for trading is greater than the tough roads in my trading journey.
My Why gives me the fuel and grit to fight and stay in the game.
Taking small, micro action towards my goals every day is better than taking no action at all.
Reminding myself of my WHY every day gives me purpose, keeps me motivated and focused.
I have what it takes to becoming a better trader because I BELIEVE IN MYSELF and MY WHY.
During the week, reflect on these affirmations and repeat them with deep intention. Feel free to add any of your own to this week's affirmations.
You were listening to Affirmations for Traders. Thank you for listening and see you in two weeks! Take care and have a good week!