The Power of Innerworth in Trading
In the world of trading, the crowd can be a formidable force. Market action is often driven by fear and greed, leading many traders to follow each other to their doom. But what if you could outsmart the crowd and achieve consistent trading success? The key lies in understanding the power of innerworth and developing the discipline to follow your own instincts.
The Problem with Following the Crowd
Following the crowd isn’t always bad. In strong bull markets, the trend is often clear-cut, and joining the crowd can lead to significant gains. However, in today’s volatile markets, following the crowd can be a recipe for disaster. One month the market may be bullish, and the next, it may be bearish. If you follow the crowd, you’ll end up selling when there are no buyers and mounting big losses.
So, how do you anticipate what the crowd will do and sell relatively early, when there are plenty of buyers? The answer lies in understanding your own mindset and developing the discipline to go against the crowd.
The Benefits of Being a Rugged Individualist
Rugged individualists aren’t always popular, but they often achieve greater success in the long run. These individuals are driven by a powerful need to express their artistic vision, rather than seeking validation from others. They’re willing to take risks and face criticism, all in the pursuit of their passion.
As Dr. Nathaniel Branden observes, ‘When we appreciate the true nature of self-esteem, we see that it is not competitive or comparative. It is not about making myself higher by making you lower. It has nothing to do with you. It is the joy of my own being.’
The Trading Mindset of a Rugged Individualist
Winning traders are extreme individualists. They see trading as an art form, and they’re not concerned with the status and prestige that riches may bring. They love what they do, and they enjoy the benefits of working for themselves and being accountable to no one. They go their own way and know deep down that they are meant to be traders.
The more you can think like an individualist, the more you’ll be able to anticipate the behaviors of the masses and capitalize on their tendency to follow the crowd. This mindset is essential for achieving consistent trading success.
Conclusion
In conclusion, the power of innerworth in trading is a crucial factor in achieving success. By developing the discipline to go against the crowd and following your own instincts, you’ll be able to outsmart the masses and achieve consistent results. Remember, trading is an art form, and it requires a willingness to take risks and face criticism. By embracing your innerworth and developing a trading mindset that’s driven by a powerful need to express your artistic vision, you’ll be well on your way to achieving trading success.
