Trader Mindset How to change your mindset around money
Apr 16, 2024
Explore the transformative power of setting ambitious, life-changing goals that push your limits. Discover the difference between being willing and being able, and the importance of hard work in achieving success. Learn to view each trade independently and embrace the probabilistic nature of trading. Shift your mindset to feel deserving of financial abundance without seeking permission. Understand the value of focusing on strengths, simplifying your strategies, and using heuristics to enhance decision-making.
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Aim For Life-Changing Goals
- Set goals that genuinely scare you and change your life rather than small, safe upgrades.
- Use those ambitious goals to trigger belief and motivate consistent behavior toward point B.
Willingness Beats Mere Ability
- Ability usually exists; willingness to do the work is the key limiter for success.
- Your temperament (doer vs. winger) predicts how attractive you are to collaborators or allocators.
Personal Work Ethic Parable
- Michael Martin compares his relentless work ethic to legends like Kobe and Jordan to illustrate relentless practice.
- He says he lived that grind for decades because he knew nothing else would produce results.
