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Awhile back I met and spoke with Rande Howell, a trading coach to some of the biggest traders around.

Here are some of his recent thoughts about success in trading:

How many times in the past have you been rewarded for “making things happen”?

If you have experienced success in athletics, business, or climbing the corporate ladder – then you may answer “a lot”.

In the same way, how many times (before trading) did a winning attitude pave the way to your success? Again, a winning mindset is fundamental to success across a wide range of endeavors. Yet you bring that tested winning mindset to trading and what happens? It betrays you. You keep wanting to win.

You keep a positive attitude about the future, figuring you are programming your unconscious mind for success, and yet – your trading account is not showing you the fruits of your winning mindset. In fact, just the opposite happens.

What is going on here?

Why can’t the winning mindset you brought to trading also bring success to you in trading?

Short Answer: You can’t brute force trading outcomes, with positivity & relentless effort. This is a probability based game, in what is a dynamic, adaptable and ongoing feedback mechanism, from a live shifting organism, like a market.

Longer Answer:

First you have to accept that chasing new trading strategies is not the obstacle to your success that you initially believed it was. Instead, it is the mind that you bring to trading (the very winning mindset that has brought you success in the past) that is the problem.

The truth is that the requirements of success in trading are very different than anything you have encountered before trading. Before trading, it appeared you had substantial influence over outcome. In trading though, you do not have control over outcome – beyond a statistical probability edge. This fact turns the winning mindset you bring to trading upside down.

The brain’s reaction to this new situation is also alarming to the Alpha who has experienced so much success in other endeavors before trading. It is at the core of the Alpha’s trading problems – over trading, impulsive trading, and revenge trading. They want to win and cannot stand losing – but the quandary is that they have no control over outcome, try as they might. And that just revs the Alpha up more. Before you know it, trading accounts are blown out and capital evaporates like boiling water.

The question is: How do you reprogram the winning mindset from your certainty-based model of the world so that it works in the probability-based world of trading? It is an uphill battle, with a brain that has evolved for short term success and control.

How the trader can adapt his success-oriented brain/mind for the needs of consistent profitability in trading. If you’re an Alpha, you need to study both the article and the video.

The environment of trading is just different from anything you have experienced previously.

Unless you are willing to retool your mind for the needs of trading, success will not follow your efforts anymore. No matter how positive you are or how much you are motivated, it is how your brain relates to uncertainty that it cannot control that is important here.

Training is required.

Your wiser self will come to wake up, hopefully while you still have the capital to pursue the promises of trading.

Recognise this aspect early and don’t attempt to exert control over the situation.

Thank you for your interest! I hope this was helpful to you!

Francis Hunt