Are you looking for a Guarantee in Life?
Within the last week I was talking to a friend of mine about several personal growth topics, as we frequently do, and the topic came up regarding self confidence. In this conversation, I shared with him that I can honestly say I have a pretty decent level of self esteem and I do pursue life with passionate self confidence on a daily basis. And, I told him I know exactly how to restore my self confidence should I ever lose it again, temporarily.
But, as the conversation continued a little longer, I told him that I can remember a time where I LOST my self confidence in myself for a period of about 3 days and honestly…I was lost…I really was a basket case…crying, complaining, getting depressed, etc.
He asked me, how did you lose your self confidence?
It was in October 1978, just about 30 years ago, in my second year at Harvard Business School during the first semester, that I lost confidence in myself. In a nutshell, the courses I was taking during that first semester were challenging all of my weaknesses, at the same time. I was completely overwhelmed and afraid.
Here’s what I realized, at the time, I was not sure if I could do ALL of the work that I felt needed to be done to pass those courses and I was not sure that even if I did do the work that it would be good enough to pass the courses. It was that double whammy that caused me to freeze dead in my tracks because for the first time in my life…I didn’t know if I could get the job done. I got all messed up in my mind because I couldn’t figure out how to get out of this “mental funk” that I was in.
I started calling a few key people in my life to talk with them and one of the people I talked with was a buddy of mine at HBS, Al Carter. After several hours and days of being depressed and feeling sorry for myself and crying and you know the drill, I was able to listen to and actually hear the words of support and wisdom from the people whom I was asking for help.
At one point in our conversation, Al said, “Nate, I have known you now a little over a year and this is the first time that I am hearing you…reading between the lines…looking for a guarantee BEFORE you do the work…are you looking for a guarantee before you put in the effort?”
Those were the key words that pulled me out of my mental funk and I was able to muster up the courage to give it all I had without looking for the guarantee that things would work out.
I was in unfamiliar territory…and I didn’t even know that the underlying false thinking that had crept into my thinking, somehow… was that for the first time in my life…I was looking for some type of guarantee BEFORE I did the work, that I would succeed. That faulty thinking is what caused me to lose confidence in myself for those critical three days in my life.
Prior to those three days and after those three days, I have always known that there are NO GUARANTEES in life. The price of success is what it is and it must be paid in full, in advance.
Here’s the critical thinking viewpoint you must adopt: When you pay the price in full, in advance, what you are paying for is the opportunity to possibly get the reward you are seeking. You are not paying for any type of guarantee that success will happen. You are simply paying the price to get the opportunity to possibly get the reward…that is how you have to look at things…that is how you maintain your self confidence while you are working hard to achieve your goals and dreams.
In essence, in life, you must develop the habits and mindset that you will work hard and pay the price, in full, in advance so that you get an opportunity to potentially get the rewards you are seeking. Your self confidence comes in knowing that as you knock on opportunity’s door…over and over…that you will figure out a way to get the desired results you want to accomplish.
You self confidence is really about knowing that you will do whatever is necessary until you get what you want AND you know that there are no guarantees in life so you don’t look for a guarantee…it is in the doing that matters… with the right intentions that allows you to stay focused and confident because you are looking for opportunity, not a guarantee. You know that you have to go “all in” and “sell out” to your goals and dreams with the mindset that you believe you will eventually get what you want “if you knock on the door of opportunity enough times”.
So what does this have to do with trading?
I have seen traders who are afraid to pull the trigger or they hesitate and get in late, because what they are really wanting to know before they place the trade is will that trade work?
They are, in essence, looking for some type of guarantee that things are going to work out in their favor. THERE ARE NO GUARANTEES…period!
Let me make sure you know what you are paying for when you place a trade. Whenever you place a trade, you are risking the possibility that you will lose some money. You are “buying” yourself a ticket to enter into the arena…you are risking a certain number of dollars in order to get the opportunity to “possibly” make a profit on that trade. You are not “buying” yourself any type of guarantee that you will make any money whatsoever. In fact, truthfully, you know that the game of trading in the arena…is really a game of probabilities…so you KNOW that you will lose some percentage of your trades in the normal course of you playing the trading game. Make sure you are looking at trading in the correct manner.
There are NO GUARANTEES IN LIFE…and don’t start looking for any.
If you find yourself getting stuck or being overwhelmed with life and business or trading…ask yourself… “Are you looking for a guarantee before you do the things necessary to succeed?”
You must develop the habits and mindset of… all you are looking for is an opportunity and that is what you build your confidence on…knowing that you will knock down the door of opportunity!
Honestly, I can’t tell you how excited I am about life and all the possibilities of the future. If you know how to day trade, you just need to put some money into an account and you can pull yourself out of ANY financial hole fairly quickly. There is no better business in the world…because the opportunities for your upside possibilities are unlimited. With the right day trading setups, proper money management procedures and solid discipline you can change your financial future, in a short period of time. Whether or not you are currently day trading, as a part of taking control of your financial future, you should learn how to day trade so you can invest your own money properly in your own Self Directed 401 K Plan. If you do nothing else, re-read this paragraph several times until you truly understand the meaning of what is being said in this paragraph.
No matter what is happening in the world…TRADE THE PATTERNS THAT YOU SEE ON YOUR CHARTS…do NOT listen to the news or anything else. As a day trader, you should still trade based on what you see on your charts and based on what specific rules you have setup for yourself. You need to be mentally strong as a day trader. Have a mindset like “There’s a recession/depression out there and I am choosing NOT to participate.” I can help you get there.
Life is full of possibilities when you learn the proper day trading skills…Make that commitment to yourself…right now…this very moment!
For additional information about online trading or day trading, please visit www.natebrooks.com.