“Are you caught up in trading and not caught up in making money?” This is a very legitimate question in light of the fact that there are myriad traders around the planet who trade, and trade, and trade.   They may have daily or trade session targets, but rather than discontinue trading when they hit those daily targets they continue to trade and more times than not end up giving back those gains and as well taking a loss for the day. Now, the logical inference is that if they had a target amount of profit and hit that profit target they should stop trading. So, what compels them to continue…the answer is greed. Actually, greed is another aspect of fear. Greed is simply the fear of not having enough.

Trading is ultimately about money. The trader wants to expand his capital. But, here is the paradox…trading is difficult and arguably the most challenging business venture on the planet because of the psychological turmoil that is activated in the trader when he enters the trade. So, consistently successful trading is “not” about making money in any one trade. It is a process; a process that requires a devotion to preparation, analysis, planning, implementation and execution.   I have often talked about having a sensory rich vision of what you want to achieve. This is a very powerful tool to connect with the passionate white-hot energy of why you want to be successful as a trader. It is your trading purpose, which ties the what-matters-most in your life to the what-matters-most in the trade. During the civil rights era, there was a saying “keep your eyes on the prize.” This may seem contradictory; to say on the one hand you must be dispassionate about the ultimate outcome and have a sensory rich vision of the outcome.

So, if you are committed to doing your best in order to make money in your trading process, you must de-focus your attention from the money as you trade and intentionally master your trading process. This necessarily means that you must develop your mindset. You must become and remain self-aware so that you are able to increase your mindfulness of your thoughts, emotions and behaviors. You must create consistency in your mechanical data (everything that relates to the mechanics of the trade – your preparation, planning and execution); and in your internal data (learning mental and emotional tools to manage your thoughts, emotions and behavior) in order to develop capacity for emotional strength and endurance during the trade. This process is no small order and it takes a willingness to be uncomfortable in order to grow and develop the necessary capacity for emotional and strength and endurance. But, if you believe in yourself and take it one step at a time, you’ll get that prize…the ability to trust in your plan, trade your plan, and move on when the trade is over.