Mental Capital comes in 3 easy-to-digest formats:
🎧 Listen to the podcast (above or on your favorite podcast platform)
📖 Read the post below
👀 Watch it on YouTube
Dear Trader,
Today, let's talk about a long-term vision for your trading. This is very important, not just for long-term investors, but also for those of us who are day traders.
The reason is that it's very easy to get so zoomed in, so focused in on what is happening in a 30-second bar or a one-minute bar. But consider what's going on in the big picture, not just in the markets, but in your trading goals.
So make sure that your daily or even moment-by-moment trading is in alignment with your longer-term vision. The reality is you don't have to make all the money in one day. (I need to remind myself of this often.)
If you have a weekly goal or an overall monthly goal, remember to check in with that.
From my own experience, I can tell you that it's easy to get sucked in. Let's say I have a loss on a specific day or, more recently, I had four losing days in a row. Now that, for me, is not common. I called my buddy Hubert: “Oh my gosh, should I just quit trading? Is this even going to work?”
He says, “Mindie, that's okay. Look at the big picture. You're still positive for the month.”
I was like, “Oh yeah…”
So this is just a friendly reminder to not get so sucked into the incremental little things, even when they feel like big things.
Mindie Kniss, MFA, PhD is a High Performance Mindset Coach. 🧠 Trader. 💰 Bestselling author and publisher. 📚 Resources to help you create a more Lucra(tive) life are available at her website: Lucra.com
