How childhood beliefs are sabotaging your trading potential

No doubt you’ve heard the success stories of traders turning $10,000 into $20 million in just a few years. These stories make trading look so simple – how hard can it be, right? 

Being the prudent and hardworking person that you are, you decide to read everything on trading, markets and technical and fundamental analysis.

You then create your own strategy and practice it on a demo account and achieve high profitability.

Convinced you’re now one step away from retiring early in the Caribbean, you start trading real money.

After trading for over six months, you’re struggling to break even. How can this be?

The complex trading system you created and the hard work should have paid off. But now you’d be satisfied with just breaking even. The dream of trading alongside millionaires in the Caribbean slowly drifts away.

Why isn’t success banging down your door?

Read also: 6 traits you need to become a successful trader

There’s a strong chance your subconscious beliefs, often developed during childhood, are holding you back from achieving trading success.

All humans have ingrained beliefs around ethics, family, career, success, money and more. These ingrained beliefs flow on and impact our adult lives, often without us knowing it.

Did you hear or observe any of these phrases while growing up:

  • Money is the root of all evil
  • Money doesn’t grow on trees
  • You have to work hard to make a living
  • You don’t deserve money
  •  Rich people are snobs, greedy and dishonest
  • We can’t afford that
  • Life is hard.

Many of these beliefs can create poor trading behaviours and habits.

And without even knowing it, you are likely self-sabotaging anything (often positive things) that conflicts with these beliefs.

By becoming aware of any current (negative) beliefs around success and money, you can then choose to replace them with more positive beliefs.

I believe that to be successful at trading you must believe you deserve success, that money and opportunity is endless regardless of who you are and where you grew up.

Think hard about your own beliefs on money and success and write down observations from you childhood. What childhood beliefs are holding you back from trading success? 

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