Grit, the secret sauce to day trading success
Grit is best define as a person with strong character, in other words a strong and positive mindset. Since mindset is one of the most important attributes of trading success, grit is something we all need to have!
The mindset I have is that no matter how bad yesterday was, I can make today better and I know for sure that if I keep a positive mental attitude and work hard today, I will be better tomorrow than I was today. - It's all up to me.
It is Mark Douglas, the author of two fantastic books every trader needs to read, that said:
The winners have attained a mindset, a unique set of attitudes, that allows them to remain disciplined, focused and above all confident in spite of any adversity they might face.
And as a day trader you must follow his advice, and read his books, Trading in the zone & The disciplined trader, if you are really serious about being the best you can be and develop a winners mindset for trading!
Here's the deal, me, you and nobody else was born unable to become a highly successful trader, or anything else for that matter! The way we become great is all under our control, it's up to us and the law that we need to understand is cause and effect.
Poor or average causes = poor or average results
Good causes = good results
Great or extraordinary causes = great or extraordinary results
It is up to us, always was and will be. Think of your success as the following quote:
That's right, your success = your responsibility and having grit will make it a whole lot easier to achieve that success!
Here are a few excellent tips to build grit into your trading:
Think about your trading, think about your system, weaknesses and strengths.
Visualize your best trades and see yourself, in your minds eye, performing at your best.
PRO TIP: mediation/visualization is powerful and since trading is a mental sport, it will help you more than it will not.
Review your trades trades, see what you're doing right, what you're doing wrong.
PRO TIP: when you execute trades, type in the reasons of why you are taking those trades (see last point)
Talk about trades to others, have no one to talk to? Share it up on twitter! If you're a part of the PrimedTraders community then talk to your mentor and your peers about trades.
Keep a detailed trading journal, every trade you open dot down the info as to why you took the trade, don't question this, just do it!
And most of all... do all of this even when you don’t feel like it. - That's real grit (determination for success)
Do it every day and be consistent about it. These are all things you can do and all are the deliberate practice necessary to become great.
I put up this message in our Discord community today to explain exactly why reviewing your trades is vital, its a part of grit after all... something you don't like doing but if you do will make you a top notch trader in no time!
That is all I have for you in today's blog post, I sincerely hope it helps you better yourself and start taking action to make yourself better and not just sit there wishing, hoping and complaining about everyone and everything else but you.
If you want success in trading... do something about it!
