I’m a Wealth Builder! as wealth builder you’ll have very clear rules, will do your risk analysis, will follow your rules. Click the Title to Read More…..
My months go from the Monday after NFP to the Wednesday before NFP. (Watch the Video 12 mins) . That’s how I do my trading months.
And last week, in the Tribe of Traders started a program called the Tech Intensive.
I’ve been working with a group of people quite closely and it’s been interesting the results we’re getting.
Because very much a major part of the Tech Intensive is being very mindful about the number of trades your placing and what trades you’re placing.
But what struck me is the results that the guys are getting with trading less. BOOM!!!!!!
And basically they’re getting better results trading less than they were getting trading more.
TRADING LESS does form part of the three foundational philosophies of the Tribe of Traders, which we call the Genius Trading Model, and the second element of the Genius Trading Model is you’re a money manager.
But the fact that it’s Monday Mantra, so I was thinking, let’s have the mantra that I’m a wealth builder.
Because essentially, I think, it’s my opinion and it’s something that I have actually seen happen over the past while, is that as soon as you label yourself a trader, you feel you need to be in the market because otherwise you’re not a trader.
I’m pretty sure you didn’t wake up one day and decided you want to be a trader?????
You chose trading as a tool to build wealth.
So you’re not a trader, you’re wealth builder. So how about having that as a mantra? I’m a wealth builder.
With the idea behind it being a call to action than just being a trader.
So you don’t feel like you’re always needing to be in the market.
Because if you are trader, or you label yourself a trader or you consider yourself a trader, I think you feel you must be in the market… and if you’re not in the market – you feel like you’re lying to yourself…
But here’s the thing….
You don’t have to be in the market to be a wealth builder.
A wealth builder protects their capital.
A wealth builder takes high probability trades.
A wealth builder has a very clear trading plan.
A wealth builder will have precise rules that will cover every scenario, every situation.
Anything that the market will do, the wealth builder will have a response to.
And sometimes, in fact often, that response will be, Do nothing.
I’ve seen guys over the past couple of weeks in the Tech Intensive program that we’ve got running in the Tribe of Traders, I’ve literally seen them make over the past couple of weeks consistent percentage returns.
Having traded only one or two trades in the week.
My average is eight trades in a month and generally I get my target.
My target is 12% so I might get sometimes 10 and a half percent or I might get 14 or 15%. It depends.
It depends on how I’m trailing the trades towards the end of the month.
But the important thing is that less is more.
And I’ve seen evidence of that with the traders in the Tribe of Traders over the past while.
And then I’m absolutely convinced that a part of what drives people to feeling the need to be in the market is that you label yourself a trader.
Now just think about it this way.
Trading is not what you want to do.
Trading is a tool.
If trading is what you wanted to do as a career, then you would have it as a career.
You would be a paid trader, you would be paid to be in the market, you’d be an institutional trader.
You’d be in the hedge fund, you’d be in the bank, you’ll be working for a proprietary trading house, if that is what you wanted to do.
But you didn’t. You woke up one day and you saw trading as a tool to building wealth.
So remember, get back in touch with what started you on this journey.
That way I would put it to you that you will be way more cautious about how you trade, when you trade, why you trade, what you trade, and you will have absolutely clear rules because you’re building wealth.
It’s not about trading.
Shift the perception, shift your your beliefs about yourself. Stop labeling yourself and be the wealth builder.
Just be it.
Allow your behaviour to replicate what you are. You’re a wealth builder.
And as you will know, as opposed to trading, a wealth builder will absolutely have very clear rules, will do their risk analysis, will follow their rules.
And here’s the other thing about rules as well.
As a trader, so many people who label themselves traders, they don’t have rules, they don’t have a trading plan.
And I’m not talking about a one pager.
If you think you’ve got a trading plan and it is one or two or three pages, guys, that is not a trading plan.
A trading plan is something that’s incredibly comprehensive.
In fact, I have a template for a trading plan that is at least 44 pages. And that’s just a template. That’s without it being completed.
Because at the end of the day, we need to eliminate all areas and possibilities that where we leave ourselves vulnerable to projecting our beliefs onto the market.
And that starts actually with you’re not labeling yourself as a trader. Because that in itself will drum up all sorts of beliefs, and labels, and perceptions, and what you must be, and do, and have as a trader.
But if you go back to basics and keeping the foremost of your mind that above all else you’re a wealth builder, then that will lead with a whole host of different perceptions, different behavioral patterns.
Because too many people who label themselves as a trader, feel compelled to be in the market all the time.
And also, there’s another thing that happens.
I’ve seen it over and over again, is that the pot of money that a trader, retail trader, like you and me, will have a broker account.
Too many people have literally written that off.
It’s almost gambled.
And as a wealth builder, you won’t do that.
You will see that as your seed capital.
You’ll see that as the seed capital or the investment pot that’s going to grow your wealth.
It conjures up different feelings, different emotions, different beliefs and a different foundation for you to progress in your trading.
So, this week from now on, you are a wealth builder. You might also, in order to reiterate that, put you’re not a trader.
So you might say, I’m a wealth builder, I’m not a trader.; You might well just say, I’m a wealth builder.
Whatever works for you, it’s got to resonate for you. And here’s the thing with a mantra, it doesn’t change your life.
A mantra doesn’t change your life on its own.
Your beliefs, your behaviour is what changes.
But if you have this mantra that you keep on reminding yourself and you keep on repeating it, keep on remembering it, keep it up somewhere where you can see it, it will start working in your subconscious mind.
And as you’re going to trade, you’re going to be asking yourself this question, Well, am I trading right now or am I a wealth builder?
And that’s where the benefit comes in to doing this.
Just having a mantra and just saying it over and over without actually doing anything with it, it’s not going to make any difference, is it?
But the one thing that you’re going to do from now on is have, I’m a wealth builder, and that will be the catalyst for a behavioural trade change in your trading.
So, I’m a wealth builder. You might want to put, I’m not a trader. It depends on you.
And as I was saying a moment ago, the thing about mantras is you work with it long enough, you repeat it, you action on it, you observe it, you observe your behaviour around it, you will eventually be that.
Because your actions will be… your neurons will shift.
They will somehow typically move and reshape and reform, and you will actually be that wealth builder.
And you will find yourself having outgrown that mantra because it will be who you are.
And then it’s time to move on to something else and something else.
But just saying something alone without actually actioning it, is going to mean nothing.
Let it be a reminder to you each time you go to trade, Am I a wealth builder or am I a trader?
Which is it?
I put it to you that you’re going to get a lot more benefit out of being a wealth builder.
It’s going to shift the way in which you interact with the market’s, going to shift the way in which you trade.
So give it a go and see how it works for you this week.
