Hello Everyone,

In the spirit of todays Super bowl game I wanted to share the following article with all of you.  Whether your into American football or not doesn't really matter but the point is…

Regardless of whether we are talking about the World Cup, Formula 1 racing or being a highly successful trader it all boils down to operating at a much higher mindset then then our opponents.

 Trading in a Higher Psychological Sphere

It seems so easy: Find a good setup, place a bet, close out the
trade and take home the profits. It may seem simple, but trading
profitably and consistently eludes most traders. Trading experts
note that even those traders who achieve early success don't
maintain it.

It's easy to make a series of profitable trades early in one's
career; the difficulty is trading profitably day after day, week
after week, year after year. When it comes to maintaining
profitability over the long term, one must look deep into one's
psychological makeup and ask and answer tough questions: Why am I
trading?

What do I get out of it? Why should I continue to trade? Seasoned
traders know the answer to these questions: Trading is
intrinsically rewarding; it's a fulfilling, enjoyable, and creative
endeavor. The experience of trading in and of itself provides its
own reward.

The most successful traders are so passionate about trading that
they would trade regardless of how much money they made or how
successful they were. For them, the intellectual and creative
activities involved in the trading process constitute an optimal
experience. They trade in a higher sphere, and maintaining this
peak performance mindset ensures their lasting profitability. 

Psychologists who study the motives behind people's life pursuits
have discovered that optimal experiences are intrinsically
motivating. They are so engaging and interesting that just doing
them is enjoyable. The extrinsic rewards, such as money or profits,
are not nearly as motivating.

When people engage in an intrinsically motivating task, they
effortlessly focus all their attention on that task, and achieve a
level of experience that is optimal. They don't worry about success
or a failure, and they don't expect to receive any reward or gain
from the endeavor other than the experience itself. They may desire
a reward but they don't need one. Emotions, such as fear, anxiety,
and self-reproach, don't even enter their consciousness. The
experience is so intense that they tend to be concerned less with
the final outcome, and more with the process as they experience it.
 
 
How does one trade in a higher psychological sphere? It's vital
that you satisfy lower order needs, such as a need for self-esteem
or recognition, so that you can focus on satisfying higher order
psychological needs, such as self-actualization and
self-fulfillment. For example, when trying to satisfy a need for
self-esteem or recognition, one may think becoming a success will
help him or her feel safe, secure, and loved.

This belief can cause major problems when trading, for several
reasons. First, placing too much emphasis on the outcome is bound
to be distracting. Second, believing all your needs will be
satisfied through trading will likely increase your fear, anxiety,
and tension.

Third, these unpleasant and distracting emotions will tend to
interfere with your accurate assessment of market conditions and
disrupt any clear-headed decision making, hurting your performance
and creating a vicious circle of defeat. 

What motivates your trading? Do you trade to satisfy social and
emotional needs? Do you trade primarily to increase your feelings
of safety and security? How do you remedy the situation if you are
trying to satisfy these lower-order needs?

To remedy this, consider satisfying your safety and security needs
in other ways. For example, you could set lower standards for your
lifestyle. Trying to maintain a rich, luxurious lifestyle will
almost certainly interfere with your trading success. Most
successful traders report they have settled into a lifestyle that
does not depend very much, if at all, on their trading success. 

Other social needs that may interfere with your trading
performance, and should be addressed outside of trading, include
the desire for friendship, affection, and love. Some individuals
believe that trading is going to improve their ability to form
satisfying relationships.

For example, many people believe that if they had enough money,
their relationships would be far more satisfying. Although this
seems reasonable, it is a fallacy. Wealthy people are no better at
gaining love and affection than poor people. If you are hoping that
your relationships will improve when you make more money through
trading, you are mistaken. It's a far better approach to limit your
trading activity and take other steps to develop more satisfying
relationships. 

You may also trade because you desire recognition, appreciation,
prestige, and status. It's true that some individuals may give
additional respect to those with a lot of money, but not everyone.
In addition, needing others' respect can be very difficult and
disappointing. In the end, the road to happiness and success
involves having respect for yourself.

If you are hoping that you will somehow gain respect through making
a bunch of winning trades, you will almost certainly be
disappointed, and this drive for respect and continuing
disappointment will interfere with cultivating a peak performance
mindset. 

Transforming the trading experience into an optimal experience may
not be easy, but it's something that the most profitable traders
have achieved and sustain. Make sure that your social and emotional
needs are satisfied outside of trading, and that you are able to
focus intensely on the trading experience itself. If you can do so,
you'll find trading interesting, enjoyable and engaging, and be
trading in a higher psychological sphere.

 To get the newest reversal levels simply look directly below.

Until next week, peace and prosperity,

Jeff Wilde