There is an epidemic of traders out there evaluating themselves in a negative way, and it’s a very toxic thing to do.
Negative thoughts will present themselves in your body language, self esteem, attitude, confidence, and even your personality.
In short, negative mind-sets make you a very miserable person to be around and a really unstable person in front of the trading screen.
Positive thinking is really critical with Forex trading – it helps you stay on the winning path and have the strength to remain highly disciplined.
If you’re feeling a little down in the dumps, it’s time to shift gears and change direction so that you’re moving forward across all aspects in your trading journey.
But the question is: How do we get some traction with positive thinking, and keep the momentum going in the right direction?
In this lesson, I wanted to introduce you to some daily Forex affirmations, which are a very powerful tool to mentally program you to have a ‘forward thinking mind-set’ and to help motivate you to have a high ‘self evaluation’.
Daily affirmations are a powerful psychological ‘hack’ for cultivating success, and have been continuously used by self-made millionaires.
Take these affirmations and place them somewhere in view of your trading desk. Read them frequently throughout the day, whenever you need a self esteem boost, or even some extra motivation to remain focused and disciplined.
Here we go…
Affirmations For Better Risk Management
“I am an expert money manager, and I AM always prepared for the unexpected”
As a trader you should strive to become the best money manager possible. Many believe it’s all about the strategy, but that’s incorrect – nothing will work if you are the world’s worst risk manager.
Each day, look to improve you money management skills and gain an edge where you can. You will always benefit from improvement here.
“I have a very healthy relationship with money – I treat money with respect and handle it with confidence”
Respect your trade earnings – some traders view trade profits as ‘bonus’ gambling chips instead of something to build on.
Don’t disrespect your money like it’s a throw away item – treat your trading account like it was a million dollar trading fund. Don’t trade when you’re financially desperate or looking to use Forex as a gambling medium.
“I am in control of my money – it does not control me”
You shouldn’t let ‘money’ be at the steering wheel of your trading journey, it will take you to the wrong neighborhood. Yes, our end goal is to become wealthy from Forex, but you won’t reach your trading destination if you’re overly focused on money.
Channel your energy on improving your trading skills and putting energy into areas that will help you through your journey – then the money will flow to you naturally.
“I am always looking for good return on investment, not just a quick dollar”
Don’t view the market like a pigeon views a crowded area as an opportunity to pick up scraps for the day. The market produces bigger moves which produce very high returns.
Focus on catching these longer ‘swings’ in the market, and move away from the stressful endeavors of picking up breadcrumbs.
“I keep my losses small and my wins large by using positive geared risk/reward ratios”
Always aim big while keeping your risk controlled. By striving to get more than what you risk out of your trades, you will be strategically keeping yourself ahead.
Traders who have losses that overpower winners see a cruel end to their trading journey. Stick with trades that can return at least triple what you risk, so you stay ahead – even if you experience losses pretty regularly.
“When a trade is open I do not interfere with it”
Trades work out better when left alone. It is when you interfere with your positions that you screw with the natural order of things. The intervention on your trades is usually based off irrational emotional behavior and it will work against you nearly every time.
Let the market take the reins once you’ve placed your order. You should leave the outcome of positions to be binary in nature; It either works or it doesn’t.
Personal Improvement Affirmations
“I will surround myself with successful, positive people”
Successful people network and surround themselves with other success people to create a circle of vibrant positivity. This is a good way to imbue positive thinking within you and have access to the perfect people for guidance in the right direction, in trading or in life.
This is one of the benefits of becoming a war room trader – our chat room is always buzzing with positive energy and successful traders help shine light on those who are stuck in the shadows with their trading.
“I am always fully accountable for my actions”
As a trader, you are the final defense for anything that happens on your trading account. You are in the pilots seat, the ‘captain’ who makes the end decision – anything that happens on your account is your responsibility. If things don’t work out the way you intended, you’ve got no one to pass the blame on to.
If you or buy or sell an instrument – then you must take full accountability for your actions, whether someone advised you to or not – it was you who chose to follow the advice.
“I Will Do Whatever It Takes To Reach My Objectives, My Goals & My Vision”
Do you want to become your own boss and live off Forex trading full time? It’s great to have these dreams and desires but not many put in the effort to turn dreams into reality. Forex trading is a tough journey to conquer – you’ve got to be dedicated and committed for it to work.
Do whatever you can to make yourself a better trader! Constantly review and familiarize yourself with your trading strategy, do back testing on the weekend, network with other successful traders, and use a trading journal to identify your weaknesses, then do what you can to eliminate all your personal demons.
“I believe in my own abilities. Each day of my life, I am getting better in what I do”
Many people abandon goals because they are too big. Set smaller ‘stepping stone’ goals that you can use to leapfrog your way to your end game. Don’t fret so much about Forex trading mistakes you make while you’re new – it’s those who learn from what didn’t work in the past who build a good foundation to successful trading in the future.
The more screen time you get with your strategy, the better you will become at it. Simple tasks like marking support and resistance which may seem confusing at first, will eventually become second nature. Keep going.
“If I feel Stressed Out – I will Remove Myself From The Trading Screen”
There is no doubt that Forex can be stressful at times – especially when you may be suffering from losses. It’s okay to get emotional, it’s human nature – you’re not a robot; but don’t throw those emotions back into the market where they can do a lot of damage.
When you’re upset, force yourself away from the screen and go do something that will help relieve your stress and anxiety. Go to the gym, hang out with friends, go party for the night, or hike the nearest mountain for a sense of achievement.
Affirmations To Help Your Trading Strategy
“I will not chase price, Or Alter my Trading Plan if I missed A trade entry”
If you miss an entry signal, don’t chase price up or down the charts. You can’t nail an entry down to the pip each and every time.
Don’t let ‘the feeling of missing out’ curse you to do stupid things – “Signals are like buses, there is always another one coming”.
“I will only trade signals I understand, and won’t allow anyone else to manipulate my trading beliefs”
There are many overly complicated trading systems out there. It’s important that you understand your trading system and know how it generates its buy or sell signals.
If you don’t understand your trading system, you can never be 100% confident in what you’re doing. That’s why price action trading is so powerful – because you let the candlesticks communicate to you where the markets want to go.
“I will not allow the news calendar to scare me”
Don’t let economic releases deter you from trading a good signal. The news side of trading is something that is completely out of your control, and it is always going to be there. If you avoid trading around all news releases, then you will only limit yourself to very slow, low volatility markets.
The exception of course is if you know there is a release coming out that you’re certain will shake the market violently – like Non Farm Payroll, or an FMOC statement from the Fed.
“I act upon what the market is doing, rather than what I think it ‘should’ be doing”
It’s easy to force your own beliefs onto a chart and ‘override’ in your mind what the charts are communicating to you. You’re nearly 100% certain price will go up, but it continues to drop – and you hold only a losing position because your personal beliefs arrogantly stop you from exiting.
Let the price chart tell you where it wants to go – if you believe price wants to move a certain direction, that’s fine – but make sure you’re stop loss is there to cut you off if you’re wrong. “Trade what you see, not what you think”.
“I have developed and follow a proven trading system, and realize that one bad trade does not negate the system”
You follow a trading system that you believe in, and you understand losses occur in Forex trading naturally. There is no such thing as a 100% win rate – some months create huge returns while others may print a loss.
Don’t be one of those traders who dwell on one bad trade and view it as a major red flag in their system…then they start altering the way they trade. Remain true to your trading system and be a consistent, discipline trader.
“I approach trading as a business. I am strategic and logical in following my trading business plan”
Forex is a business not a game. Like any business, there are profits, losses, taxes and other costs associated with it. Maybe for the first time in your life you must think and behave as a true business owner.
Treat your Forex business seriously – stay organised, follow your plan, and you will be rewarded.
“I will MAKE readING price charts as easy as possible by keeping my charts clean”
It’s easy to let your charts get out of control, like weeds consuming a beautiful garden. Keep your support and resistance levels ‘pruned’ and at the most relevant areas. Avoid the use of indicators, especially if they take up a lot of chart space.
Keep your charts as clean as possible, so you can get a clean ‘read’ on the markets and trade with clarity.
“I WILL Be Extra Careful and Vigilant When Trading On MondayS”
Let’s face it – Monday price action sucks. Weekend gaps can occur, volatility is usually low and many breakouts usually end up becoming fake out ‘money traps’.
After the absence of trading of the weekend, traders are overly eager to get back involved with the market on a Monday. Be very careful as there is seldom any good price moves at the start of the week.
Affirmations For Improved Emotional Control
“I will achieve massive success because of my unbreakable willpower”
No personal success, achievements, or goals are met without self-discipline. You have it within you to control your impulses, emotions, desires and behavior.
You will not let unfortunate events, like a trade stop out, or a missed entry price unhinge your discipline. Visualize to yourself what could happen if your willpower was weakened, and the consequences if you became an undisciplined trader. Now flip your thought process around and visualize your end goal and how being disciplined will take you there.
“I will do what I can to improve my mental & emotional health”
Most traders agree that the mental aspect of trading is the most important of all, yet they put minimal energy into improving it. But you’re determined to improve all aspects of your trading and you’re already taking a positive step by reading today’s affirmations.
Learn what motivates you and what your bad triggers are – seek to put out these fires. Remove temptations and build a routine that helps you maintain the highest levels of self control. This could be as simple as limiting your market checks to one, or two periods per day – like the New York close and the London open.
“Exercising self-control gives me an immense feeling of accomplishment”
Self control is when a cup cake is placed in front of you in the middle of a hard diet. Whether you like it or not, the Forex market will make you emotional from time to time, regardless of your experience level. It’s how you compose yourself during emotionally challenging times that will determine how successful you are as a trader.
Price may retrace against you, but you hold your trade and stick with the plan. Most times if you remained discipline, the trade could work out as intended and you will feel an immense feeling of accomplishment for sticking with the plan.
“I understand Forex Trading is a Personal Improvement Journey and I have What it Takes to Complete the Course”
Most of us start out as a Forex trading failure – and that’s nothing to be ashamed of. Nothing in life prepares us for what the market throws at us. Failure is part of the learning process – but it’s those who turn failures into a positive and learn from them who ‘climb the success ladder’.
Einstein quotes, “if you continue you repeat your mistakes and expect the same results – you’re insane”.
After reading through these affirmations, you should already feel uplifted, empowered and ready to conquer the challenges of Forex trading.
These affirmations are a great way to start your day, or help pick you up if you’re feeling down.
If you dwell on negative thoughts, over time they become negative affirmations and will pull you down not only in your trading, but in every aspect of your day to day life.
If you see yourself, in your mind, as a confident, successful trader – if you constantly visualize yourself as being that, you will become that!
To put simply – in order to be a successful trader, you must believe you are a successful trader
If you begin your trading days using the power of positive thinking and promote a positive outlook on life, you are in the best position to succeed.
What you think of yourself will always manifest in how you behave, and charge up your willpower to chase your goals and dreams.
You may be skeptical, but try printing out your favorite affirmations from this article – or even do a google search for some more. Post them up somewhere near your trading desk so you can read over them regularly.
Bookmark this article and give it a read over at least once a week to keep your positive attitude ‘at full charge’.
I hope you found this article helpful. Please leave your feedback, or an affirmation you would like to share with other traders in the comments below.
Stay positive and confident, best of luck on the charts for this week!