Chief Chats with the FX Chief
Jared F. Martinez (The FX Chief™) is an author, forex mentor, educator, market analyst and entrepreneur, as well as the founder and CEO of Market Traders Institute, Inc. (MTI).
Q: “At what point do you make the change from a regular trader to a master trader?”
I’ve learned that there are five dysfunctions of a trader that keep you in “disaster mode” and don’t allow you to move over to “master mode.”
Today, I’ll talk about the five dysfunctions of a trader.
1. They believe that they have control over the market. Everything you have applied in your life to inspire, educate and motivate people to do what you want them to do will not work in this market. You cannot force the market to do what you want it to do.
You need to understand that you have no control over this market. The ONLY thing you have control over is YOU. You are the one that must become disciplined. You are the one that has to educate yourself about how this market works. So, stop believing that you have control over the market.
2. They do not trust their education. Traders learn about how the market works but they often lack the trust to apply that knowledge.
3. They trust their heart over the charts. Traders trust their heart (i.e., emotions) more than they trust the analytical charts. However, you cannot become a successful trader by trusting your heart. Your heart is your enemy when it comes to trading. Your education is your friend, your ally. On the other hand, your heart will deceive you.
4. They spend too much time thinking negative thoughts about their past. The past can create thoughts of fear and incapability, such as “I’m not good enough” or “I’ll never be a master trader.” Try to focus the majority of your daily thoughts on the present instead of the past.
5. They spend too much time thinking negative thoughts about their future. Thinking about the future just creates anxiety. So, traders should focus all their energy on their present situation.
The most important thing for you to succeed as a trader is believing that you can do it. You cannot help the people in your life unless you can help yourself first.
The goal in life is not to be financially rich but rather to live a rich life. Imagine how much more you can accomplish in life by knowing you have become a successful trader.
If you’re stuck in disaster mode and need help rising to master mode, then join us here at Market Traders Institute. We’ll teach you how to get beyond past failures so you can stay focused on your present. We’ll also show you how to start trusting your education and stop letting emotions slow your growth as a trader.
If you can overcome these five dysfunctions, you’ll be well on your way to becoming a master trader.
For more tips and strategies on successful Forex trading, visit MTI’s YouTube channel at www.youtube.com/c/Markettradersinstitute/videos.