I. The Tale of Two Wolves
One night, a wise Native American chief sat with his grandson and spoke about life, explaining that everyone carries an inner conflict.
He said, “My child, one wolf is wicked, filling your actions with anger, jealousy, suspicion, regret, greed, arrogance, self-pity, guilt, resentment, inferiority, lies, vanity, and pride. It shapes a self-centred, destructive self.”
The other wolf is benevolent, guiding you through joy, peace, love, hope, tranquillity, humility, kindness, compassion, generosity, truth, mercy, loyalty, and self-esteem. It shapes a selfless, positive self."
The chief’s grandson pondered and asked, “Which wolf will win?”
“The one you feed, my child,” replied the wise chief.
II. The Pursuit of Success in Forex Market
Countless books and seminars aim to help individual investors achieve financial goals. Professional guidance improves financial situations. However, regardless of the advice or techniques, you must first recognize a fundamental truth: Successful people do what unsuccessful people won’t or can’t do!
Successful individuals learn from mentors, acquire specialized knowledge, and adhere to disciplined strategies to achieve financial objectives. Sadly, many lack the humility and openness needed to absorb all available knowledge and guidance.
I firmly believe that most unattained success results from misplaced focus. My global travels and cultural exposure have taught me that successful people emphasize nurturing the benevolent wolf.
In contrast, those struggling against mediocrity or poverty often feed the malevolent wolf. They carry emotional burdens from the past, fixating on negative experiences. This mindset significantly affects their personality, behavior, and emotional control—critical factors for life and forex trading success.
III. The Rainbow Chasers
Across countries, races, and cultures, I’ve observed a pattern among individuals I call “rainbow chasers.” They rarely take responsibility or introspect to identify reasons for failure. Jumping from one opportunity to another, they remain trapped in self-destructive habits, endlessly chasing rainbows.
Many investors blame market conditions or external factors for their failures, but the true cause lies within themselves. Failed trades merely replay their life patterns. If you resonate with this, our website can genuinely help you change. It teaches trading skills while guiding you away from detrimental habits.
IV. The Mindset for Forex Trading
When trading forex, cultivate these beneficial mindsets:
- Resilience, not Disappointment: Bounce back rather than wallow in regret.
- Confidence, not Remorse: Rebuild trust in yourself.
- Optimism, not Bitterness: Believe in better outcomes.
- Winning, not Complaining: Adopt a winner’s mentality.
- Star Quality, not Scars: Shine brightly.
Remember, the power of choice lies in your hands. Everyone faces adversity, including during forex learning. Your success depends on your confidence, thoughts, and reactions when things go wrong. In finance and business, success stems from your mind, fueled by your inner self and reflected in your actions. Your forex journey follows suit. Here, you’ll learn the essential discipline and habits of outstanding traders.
Before trading, ask yourself three questions:
Do I want substantial profits?
Am I content with average income?
Do I merely seek to break even?
Clarify these personal questions because the market responds to self-fulfilling prophecies. Remember, you usually get what you focus on, whether good or bad.
Life isn’t perfect. Unrealistic expectations of perfection lead to negative focus. Apply this awareness to trading, laying a solid foundation for your trading career.
V. Adhering to Rules
The first step toward successful trading is self-analysis. Ensure that you don’t bring bad habits into your trading. Your moral standards, professional ethics, and personal beliefs will reflect in your trading habits. If you tend to break rules, you won’t be able to master skills that require rule adherence. Trying to change your financial prospects without following rules will lead to self-destructive behaviour.
I know someone who consistently arrives late for work. Despite his boss’s insistence on punctuality, he doesn’t consider it important and has changed jobs four times in the past year. His habit of procrastination has resulted in repeated dismissals. Unfortunately, he refuses to change this simple yet destructive habit and prefers to search for new jobs rather than address it. I’ve observed that many unsuccessful individuals underestimate the importance of adhering to rules, such as arriving on time for work. In reality, changing a small bad habit can propel you significantly toward success.
People also underestimate the role of “adequate preparation” in achieving success. Thoughts like “My equipment isn’t suitable,” “I won’t stay here long,” or “I don’t have enough food and ammunition” shift their mindset from conquerors to the conquered.
To change your learning curve and embark on a successful forex trading career, start by preparing yourself adequately. Cultivate your personal beliefs as if you were equipping your most valuable asset—the mind—with the best helmet.
Your mind serves as both the central hub of your body and the control tower of your destiny.
First, clearly discern or define what kind of person you are. The following test will help you discover your personal beliefs. Once completed, you’ll understand the necessary changes to become a successful trader. I call this test the “Touchstone Test” (similar to identifying genuine gold). It will reveal whether you’re “true gold” or “fool’s gold”—a harsh reality to face.
VI. Your Life Goals
Successful individuals rely on beliefs, not feelings. They fall into what I call the “belief-oriented” category, as opposed to the “emotion-oriented” group. These individuals hold strong convictions and have a clear understanding of their personal beliefs and life purposes. Their actions and decisions are guided by sound principles. When faced with internal conflicts akin to two wolves battling within, they maintain the right perspective and attitude. Your personal beliefs will reflect in your trading outcomes.
In conclusion, honestly answering these belief-related questions lays a solid foundation for long-term trading success. You must establish a robust set of personal beliefs concerning your future, happiness, health, family, and income.
Forming strong personal beliefs and trading principles is the first step toward successful forex trading.
