At one point or another, everyone can go through a series of unfortunate events that can easily be put down to bad luck.
Traders are no different. A terrible run of bad trades can leave individuals looking to cast the blame on anything but themselves.
This tell-tale sign of mental strain where traders are caught in a funk of negativity, results in emotional imbalance, and a terrible psychological state that is not conducive to performing at their best.
In an environment where you cannot be mediocre, but rather you have to push the limits of what you can do in terms of discipline and consistency, aimlessly hoping for luck to turn around will do nothing to improve your success.
For traders, when this mental strain occurs due to a consistent series of poor outcomes, it is not about bad luck. They are doing something wrong, they lose focus, they lose their edge, and they must stop blaming bad luck, and realign themselves.
When hard work and consistency over the long term are critical for success, it is little wonder successful individuals often say you need to protect yourself from negativity. Because negativity is what stops most people from achieving success.
Time to be grateful
To achieve this, the best way to coach your mind is through gratitude.
Everyone can take a step back and think about all the things they should be thankful for in life.
Most traders are in the fortunate position of doing something that they love, so it makes little sense to get caught in a vicious spiral of mental anguish that for many can take years to recover, if at all.
By focusing on all the positive aspects of one’s life, gratitude can destroy the negative funk and help bring back the necessary focus to look at how you can improve yourself, grow, and ultimately turn fortunes around.