Do you know the difference between the Possibility & the Probability of Making Profits in Trading?
If you are a share trader then you need to know ... It’s vital for your success!
It doesn't matter if you trade options, cfds, or futures, you will want to read this article below on how you can make more money in trading than you currently do ... which is what you want, right?
I will never forget the day it suddenly all made sense to me. I was at a seminar listening to the presenter talking about the possibility of success vs. the probability of success. It got me thinking about my share trading business.
I started to wonder ... is it really possible to make money with trading? The answer of course is obvious...
It is 100% Possible for YOU to make an infinite amount and reach financial independence with share trading if someone else has done it before you! Now that's a pretty big claim ... but I think you are about to find out it is true … Think about it:
- The market doesn't care how old you are, your gender or if you are a good or bad person, it is the same for everyone!
- Everyone has the same opportunities.
So it is safe for us to conclude that yes, in fact, it is 100% possible for you to become a profitable trader and truly live financially independent.
The big question then is .... why aren't you?
If success is 100% possible for you in share trading ... then why haven’t you achieved it yet? Why aren't you making as much money as you thought you would when you started out with trading?
Now I have no doubt you have been asking yourself these questions already ... right? Here is what I discovered ..
Even though it may be 100% possible for you to be a profitable trader ... the probability of you achieving success is a sliding scale from 0% up to 100%!
So where are you right now? Where you are on the probability scale right now will totally determine your results and ultimately your success in the share market!
Now, I have first hand experience with this: When I went to my first trading seminar I bought a trading system that I knew had made a few traders thousands of dollars ... So there was no doubt it was 100% possible ...
But where do you think I was on the scale of probability?
Well looking back on it ... I was likely around the 10% mark. In other words I had a 10% chance of making it and becoming successful. Why so low?
Well let me outline it for you ... there I was with no knowledge about the share market, no business skills, low self-esteem, no discipline in any area of my life, not much capital to put into my trading account, no quick decision making skills, no self belief, no goals, a scarcity mindset, surrounded by people with an even greater poverty consciousness than I had, a negative attitude and no support from family or friends.
On reflection, perhaps I am being too kind to myself suggesting I had even a 10% chance of success. What do you think?
So there I was a brand new share trader using a proven trading system ... 100% possibility that I could be successful ... 10% probability of success ... and the result?
Well you guessed it, I lost a lot of money in my first year of trading To my credit though I did make a few winning trades. Of course none of them was big enough to cover all the losses and it only took me another 4 years to discover why … Here is what I discovered ...
Rarely will you be able to make more money than you currently do ... In fact you will usually lose a lot of money first! ... Why is this so?
Because if you have the mindset of someone who is only at 10% probability of success then you are not going to react to the movements in the market in such a way that you will make profits. You will be at the effect of your emotions so much so that you are doomed to stay stuck or worse.
Does this explain to you why you may not have achieved the level of success you desire with your trading?
Can you see why some people make millions of dollars in the share market whilst many others flounder around for years without moving forward?
The key to success in trading is really simple ... do everything you can to raise yourself as close as you can to the 100% probability of success mark! When you do that everything will fall into place for you. I promise!
You will know exactly when to get in and when to get out of the market, you will have the discipline to follow your trading system no matter what the market does you handle it with confident superiority. Your level of belief, conviction and passion will radiate in such a way that you won't be able to help but become a huge success.
So the burning question becomes ... what can you do right now to move yourself higher up the scale of probability?
How can we improve your chance of success? Well it may not be what you are thinking ...
Lots of traders mistakenly think that there is some secret indicator that the profitable traders use differently to them and if they just knew what it is they too would become a success. So to increase their chance of success they go to more trading seminars, if they read all the books and listen to the cds, hoping to find the one thing that will help them to be unfailable or in the attempt to find the holy grail they even buy a black box... ouch!
Some think that if they become professional ‘backtesters’, that will lead them to the path of ultimate success ... yeah right … after all ... we only need to find that one perfect indicator and we will be rich, right? WRONG!
I have met fellow traders who thought the answer lied in blaming their broker, complaining about the lack of support from their partner or justifying why they don’t follow their trading system. Amazing ....
In desperation we turn to the traders we think are successful who tell us to just stop being greedy, be more disciplined, not to fear but to believe in ourselves and to be patient. Yeah, I knew all of that, but how do I do that?
Newsflash for you ... if you continue to operate only at 10% on the probability scale no matter what new indicator you pick up you will still only be going to be at 10%.
Here is the most important thing you need to know about moving yourself rapidly up the scale towards the 100% probability of success ...
The skills and tools of trading system only account for about 10% on the scale of probability ... the other 90% is trading MINDSET! It's all about your trading mindset ...
It's who you are as a person ... your character, identity, beliefs, values, integrity, ethics, passion, vision, goals, language, attitude, inspiration, philosophy! It's how you think that matters most!
The way to move up the scale of probability towards the 100% probability mark is to at least spend as much time working on you than you do refining your trading system.
There is no point going through potential trades two hours every night after work if your mindset only gives you a 10% chance of probability of success ... you will wind up frustrated and broke, desperately waiting for the next rally to pump you up... Work on your trading MINDSET!
That's the key to your ultimate success ... the good news is that it’s within you. The good news is that it is within your control and there is something you can do right now starting today to dramatically improve your mindset.
I want you to reflect on where you are on the scale of probability right now. Where do you see yourself? Are you at 10%, perhaps 50% ... or maybe even closer to 70%?... It is easy to discover ... just look at your results!