Don’t Trip – Eliminate ‘ego hijack’

From a positive perspective, having an ego means having a solid, healthy and strong sense of ‘self’. which is vital for resilience, self-belief and confidence. Your ego drives you forward, it enables you to battle through the uncertainty and find a way, and it counters some of the negativity which can be induced by failures and disappointment. Your ego is working all the time in the background driving you to on succeed. But, this is also where some of the problems arise. – What does success mean for your ego? – Steven Goldstein

There is a paradox at work here. What your ego is doing, is making you feel others are judging you, your decisions, and your actions. It is thus seemingly handling control of some of your trading decisions.

Often, when we delve into these issues, the ‘ego’ belief is rarely even remotely true. If anything, it is more likely that most people are too worried wondering what you may be thinking about them, to be thinking about and judging you.

The challenge in trading is to harness the part of your ego which motivates and drives you forward, whilst working to eliminate the negative aspects, the self-judgement and the damaging self-talk that goes with this. By doing so, you will reduce the possibility that your ego leads you astray away from your goal.

There are few things which are more guaranteed to undermine your ability to succeed in trading than letting your ego take control and you losing touch with reality.

An attitude of ‘It’s OK to fail’ is a reminder to balance and contain your ego, and to ensure as much as possible you remain travelling in the right direction.

During your inner storm. Don’t resist, because your resistance will empower this inner storm. Be gentle and resilient to endure. Be the grass that flows and bends in the storm. Rather than the oak tree that bends in half due to its strong resistance. This too shall pass.

Sources used:

Article by Steven Goldstein:

Risk | Forex | Psychology - Trading is primarily a behavioral exercise; understand your behavior and your more likely to be a successful trader.

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