Thought that your current trade will be a winner is the original source of all loss in the markets

 

Thought is the original source of all wealth, all success, all material gain, all great discoveries and inventions, and all achievement.

Claude M. Bristol

It is difficult to accept the concept that the world is bearing witness to your thoughts, but it is true

Belief tells reality what to do... you will always attract more of what you believe.

What you believe creates laws for you.

Repeat the same thought for new belief

 In every situation and in every subject, you have a dominant vibration and that dominant vibration is called a belief.

Your belief is a thought you continue to think and the reason you continue to think that thought is because it is dominant. But it doesn't have to be dominant. It doesn't have to be your belief, because you have a choice to make any thought dominant.

I have a choice to make any thought dominant.

I will continue to think the thought, I believe the current trade that i am in will be a loser and a big loser at that. That thought will lead me into the vibration to take small loses in my Forex, Futures and stock option accounts and i will be able to continue to trade as long as i take small losses and don't wipe out my account. With the DOA trading strategy i should be able to find some winning trades and grow my account.

Hopefully by early 2023 I will be making 1000 dollars a day in my different accounts and i will be able to quit my job. 

The Trading Paradox

 The trading paradox is you start trading forex, futures and stock options to make money.

But it's not until you believe the current trade you are in will be a loser that you will win at trading.

You come into trading to make money but once you believe the current trade you are in will be a loser you will take a small loss and preserve your capital so you can continue to have money to trade to make money.

but 90 percent of traders believe the current trade will be a big winner so they stay in the trade instead of taking a small loss and end up wiping out their accounts and giving up on trading

Don't get too excited when you make money, or too sad when you lose money because whether my next trade succeeds or not depends almost entirely on luck.

If it isn’t already obvious, the primary goal is to stay in the game & live to trade another day. If you can do that and have a decent strategy (with a positive expectancy) the profits should take care of themselves.

It's okay to be a loser. You likely do not intend to lose when you enter a trade, but you should assume that every trade will be a loser and set up your strategy accordingly. The key to successful trading is cutting losses short to preserve your trading stake.

Part 1: Successful Futures Trading Means Taking Losses In Your Stride

 

If you are to be successful at your futures trading endeavors you must be willing to take small losses

No one likes to lose. But losing is a fact of life for those involved in futures trading; they key is to limit your losses and maximize your successes. Losing money in futures trading is not a failure. It isn’t a reflection of you or of your overall judgment. (If it was possible to be right every time, we’d all be rich.)

The only way losing money when futures trading is really a failure is if you aren’t willing to take the loss, without hesitation, and move on to find winning trades. By accepting that they’ve made a loss while futures trading, and getting out of the position, successful traders focus on making money – not on being right all the time.

Many involved in futures trading feel they don’t want to “lose” money on any trade, and they stay in losing positions in the hopes that it will recover to at least the break-even point. There are three problems with this approach:

• The position may never recover to the break-even point.
• Holding on to a losing position ties up capital that could be placed into winning trades.
• Holding on to a losing position is an example of unfocused futures trading and a lack of discipline.

If you are to be successful at your futures trading endeavors you must be willing to take small losses. If you aren’t willing to take small losses, or don’t have the discipline to take small losses, don’t get involved in futures trading.

You must Stay Focused During Rapid Swings to be successful in Futures Trading
Most of us were raised to think that it takes years of hard work in futures trading to acquire wealth. That viewpoint doesn’t apply to futures trading in the markets; you can make thousands of dollars in minutes under the right circumstances.

To be successful in futures trading, you must understand that money can be made or lost extremely quickly, and then stay calm and rational. Why is that attitude important? Let’s say you’ve made several thousand dollars over the course of an hour of futures trading. You’re thrilled and excited, and you may lose your composure and start making irrational trades. You may stay in the position longer than you should, for one of two reasons:

• You think the market will keep going up, and you don’t want to limit your gains.
• The market falls, and you don’t want to give up all the gains you’ve made, so you hold on in hopes your position will rally.

If you accept and understand that huge amounts of money can be made in a short period of time, you are less likely to become undisciplined in your futures trading. Those that are successful in futures trading take their gains in stride, no matter how large. They quickly move to protect their positions by setting stops, or covering a percentage of a short position. To be successful in futures trading you must stay rational and disciplined in the face of rapid gains or losses and understand the nature of futures trading.

If i don't wipe out my account it's because I've read the beginning of this book more than a 1000 times like Bob Proctor

I got the book from scribd as a pdf but i want to actually buy the book one day on amazon. I'm not gonna buy it right now and i wouldn't read the whole thing even if i did. I would just read the quote from the beginning of the book on his biggest market belief. I believe the current trade i am in will be a loser and a big loser at that.

If i don't wipe out my accounts in 2022. I will get the book in early 2023

All the abundance in the universe is available to all of us through one formless substance---thought energy. by the thoughts we choose to think, You and I decide what level of riches to bring into our lives and the lives of others

I choose to think the thoughts in Larry williams book. Everytime i Log on to my Metatrader 4 forex account at eagle fx, everytime i log on to my metatrader 5 account at amp futures, everytime i log on to my stock and stock option account at td ameritrade and every time i log on to my charting account at tradingview i will say I believe the current trade i am in will  be a loser and a big loser at that.

I will also say your trading success starts the day you realize losing is normal

I use the DOA trading strategy on my trading view.  https://www.directoptionalerts.com/

i also use the an algo bot also on my trading view. https://trndbot.com/

those two systems along with Larry williams affirmation will lead me to 1 thousand dollars days pretty soon in the forex, futures and stock and stock options markets

 

Bob Proctor’s Study Habits

 No matter who they are or what they do, highly successful people read. That’s a trait that has stood the test of time.

I read my first book, Think and Grow Rich, at the age of 26. Reading and studying that book changed my life so dramatically that I’ve read every day since.

People often ask about my study habits, so I’m sharing my process with you today. Before I get into it, however, I want to share two things with you that explain my unconventional approach to reading.

If You Study to Remember…

I want to share a quote from a book titled College Sense: What College And High School Advisors Don’t Tell You About College. The author is unknown, but the quote reads, “If you study to remember, you will forget. If you study to understand, you will remember.”

Here’s why those statements are important…

Education isn’t about hammering information in. It is a process of drawing the very best out of ourselves. The word, education, comes from the Latin word, Educo, which means educe, develop, or draw from within.

So, if you study only to remember—and that’s what most people do—you will forget. But if you study to understand, you will remember because understanding creates awareness. You create a consciousness that you will never lose.

333 North Michigan

Studying to understand was driven into my mind back in 1966 on one of the most memorable days of my life.

You see, I was a very fortunate young guy that day—I had managed to get a full hour to interview Earl Nightingale.

I was pretty nervous when I arrived at Earl’s office on North Michigan Avenue because I had been studying his work for a long time, and my life had changed because of it.

Fortunately, as Earl and I talked, I began to loosen up. At some point, I noticed a wooden stand on his desk, and I asked him what it was.

Earl said it was a book holder to keep a book open at a specific place.

“Isn’t that kind of awkward for turning the pages?” I asked.

“I don’t change the page.”

I was confused.

“You don’t change the page?” I asked.

Earl said, “Bob, you know that repetition is required to change your behavior. You have to put an idea in your subconscious mind over and over and over again. So, I pick an idea on a page that I want, and I read it until I find myself doing it.”

I’ve been using a book holder ever since.

Read Something Every Day

But I don’t just read a book; I really study it.

It’s not unusual for me to read the same paragraph a thousand times or the same page every day for months. Not long ago, for instance, I had a book on my desk that was open to a page where I read the same two paragraphs every day for six to eight months.

Why?

Because I know it’s essential to read to understand and apply, not to remember like I would if I were studying for a test.

So, here are my study habits:

1. Find a book that can teach you to be, do, or have something you really want.

2. Study it every day. (I study early in the morning, usually for about an hour.)

3. Read it slowly to try to understand the truth of what the author meant.

4. When you come across an idea that attracts or intrigues you, read it over and over (day after day, week after week, month after month), even if you’ve memorized it.

5. When you can apply what you’ve been reading (the idea is planted in your subconscious mind), move on to the next paragraph or page and repeat the process

Study Leads to Success

You know, I used to blame my circumstances of not making much money on the fact that I didn’t have a formal education or business experience. But once I started studying, I discovered it had nothing to do with either one of those things and everything to do with my self-image.

Don’t let a lack of awareness keep you from excelling in life. You can find EVERYTHING you could ever want to know in personal development books that interest you.

As you’re studying, keep this in mind …

You already have everything you need to succeed locked up inside you. Reading and studying draw out and develop what’s already within. It empowers you to be your best self by developing more of your untapped potential.

To your success,

Bob Proctor

You never know when the markets will do what you think they are supposed to do. Many times, like God, the market does not deny, it just delays. Serious traders weave protection against this delay into the fabric of their program. There is no greater rule to learn than that of money management. All the horror stories you have heard about commodity trading are true. Good people have been totally wiped out by doing the wrong thing. That wrong thing has never been the market, nor the fact the trader made a bad call. Indeed, every successful trader will have bad calls, losing trades. And lots of them

The wipeouts you have heard about, every single one of them, have come from placing too large a bet on a trade or holding on to a losing position too long. The sooner you learn to master your defeats, the sooner you will be on your way to amass the wealth possible in this business. It is your failures, not your successes that kill you in this business. Failures do not build character, they destroy your bank account. The foundation to all your success is in the preceding paragraph. Psychics may or may not be able to predict the market, value may or may not prevail. The world of speculation is about predicting the future and that is difficult at best. The fabled United States military complex, which had supposedly bankrolled the brightest of the bright, and thousands of intelligence officers, was not able to predict the fall of the Berlin wall' So how can you and I hope to do better? Our inability to see the future very well is proven yearly by such august sports magazines as Sports Illustrated. In 1997, their oracles predicted Penn State would be the number one football team, ranking Michigan number 18. By the end of the season, Michigan was number one and Penn State floundering. Washington was supposed to be number three, but was beaten by lowly Washington State, a team not mentioned in any top 20 list, that went on to win the Pac 10 championship and almost upset Michigan in the Rose Bowl'  

People who make their living looking into crystal balls are destined to eat a lot of broken glass. But take heart: although neither you nor I can divine the future, especially price action, we can learn to control our losses. That is a certainty, based on math, that will provide the building blocks for your successes. Each and every one of them. For years, I chased the prophets of profit, those financial soothsayers who claimed they, or their indicators, could reveal the future. Eventually, I realized that God does not want us to see the future. It is as simple as that. If we could see "out there," we could all be millionaires many times over. We would bet the ponies, spin the roulette wheel, and roll dice, except of course, no casino would back the other side of an unwinnable wager. Besides, how thoroughly boring life would become if we could know today how every day of our future would be. Who would want to live that way-- Where's the joy of discovery, the magic of the unknown, the thrill of victory, the challenge of overcoming limitations? If we were all be rich from our powers of foresight, who would work for us, grow wheat, raise cattle? There would be no phone company, no movies, and no television, as no one would need to work. Worse yet, who would hire us? 

 Like I said, God with infinite wisdom, does not want us to know much about the future and for sure very little about the future of futures.

Would-be speculators think this is a game of knowing the future, of knowing that which cannot be known. It is not. This is a game of developing strategies with winning advantages, getting the odds on your side, working those odds, and staying alert to any potential changes in the game including new players or new ideas and concepts. The word speculate comes from the Latin specular, meaning "to observe," as in spectacle (your glasses). We are not like gamblers, who enter a game they cannot win over time. All they can do is hope chance will run their way, not that of the house. We speculators observe how things should happen in the future, but because we know there are no guarantees, we protect our position with appropriate preservation of capital techniques, so we can win at our game. The art of speculation requires one part observation tossed together with one rather large dose of preservation. My Most Important Market Belief Based on my research and experience, I have developed a powerful and profitable belief system: I believe the current trade I am in will be a loser ... a big loser at that.

This may sound pretty negative to all you positive thinkers, but positive thinking can give way to thinking you will win-a surefire formula for buying and selling too many contracts and holding on too long. After all, if you are positive things will work out, you are certain to hold for a bounce or turn that never comes. I look at it this way, if you get all pumped up and glossed over with positive beliefs about your market success, your conviction will lead you to mismanage losing trades. That is why belief systems are so important to a trader. If your belief system tells you the current trade will be a winner-and it isn't-the need to confirm that belief in your mind will literally force you to let losses run, to stay with losers, something no successful trader ever does. An outrageously positive belief that the next trade or two will turn your account around or make a small fortune for you is most dangerous. Now let's look at my belief that the current trade I am in will be a loser, that I have no pact with God for success on this trade. Indeed, I genuinely believe the market is not precisely perfect. Keep in mind the data for this belief overwhelmingly supports it; 75 percent of mutual fund managers do not outperform the Dow, 80 percent of short-term traders lose their risk capital. On a personal note, many of my own trades do not make money, and I can positively guarantee many of yours will not succeed.

No major loss I have ever had, and I have had more than my fair share of them, has been the market's "fault." "They" were never out to get me. I got myself by believing my current trade would be a winner so I did not follow the rules of the game. I agree with those who say you are only as powerful as your belief system because that belief will give you the power of taking an action with more certainty and less hesitation. We act out what we believe: those mental beliefs are the scriptwriters for our play of life. Adopt my belief that the current trade will most likely not work out and you sure as heck will protect yourself with stops. You will control disasters, taking the first lifeboat possible instead of going down with a sinking ship. Adopt my belief that the current trade will most likely not work out and you sure as heck will not load up on a trade, banking on it to ball out all your problems. A tiny loss can wipe you out when you have taken a very large position or number of shares or contracts. Positive beliefs about future results cause us to take on undue risk. Doing that in a game where the odds are unfavorable to begin with is a sure invitation to disaster

 

 

Risk Management

Under the section My Most Important Market Belief, Larry writes.

“I have developed a powerful and profitable belief system: I believe the current trade I am in will be a loser . a big loser at that. This continues to be my most important market mantra. Winners we can handle, it’s the losses that kill you.”

This reminds him to stick with his stop-losses, not be complacent, and keep money management at the forefront of his mind.

He says.

“Loss control is still what separates winners from losers. In trading it takes only one trade that gets away from you to wipe out your bank account. Just one.”

 I believe the current trade I am in will be a loser and a big loser at that.

Your trading success starts the day you realize losing is normal

I will repeat everytime i log on to my metatrader 4, metatrader 5, tdameritrade and tradingview accounts

Daily repetition is the secret to living a good life. It's not rocket science, it is so simple you could reject it, it is so simple you could not pay attention to it.

I will do the daily repetition of repeating those two above sentences multiple times a day.

Hopefully that will lead to not blowing my accounts anymore and hopefully i will have some wins that will grow my account. We're are in march 2022. hopefully by january 2023 those two sentences will be buried deep in my subconscious through constant repetition and i will be a successful trader. something i've wanted since 2008 but i didn't know the value of repetition so i didn't repeat larry williams belief and it didn't become my belief

Larry Williams Continued.....

Would be speculators think trading is a game of ‘knowing’ the future, which cannot be known. Trading is a game of developing strategies with winning advantages, getting the odds on your side, working with the odds, and being alert to new ideas and concepts.

The word ‘speculate’ is derived from the Latin word specular, meaning ‘to observe’. We are not gamblers who enter a game which they cannot win over a long time. All they can do is – to hope that chance will run their way. My most important market belief, which based on my research and experience, I have developed a powerful and profitable belief system :

I believe the current trade that I am in will be a loser, a big loser at that. This may sound negative to positive thinkers, but positive thinking can give way to thinking you will win-a-surefire formula for buying and selling too many contracts and holding them for too long. After all, if you are positive things will work out, you are certain to hold for a bounce that never comes. I look at it this way, if you get all pumped up and all glossed over with positive beliefs about your market success, your conviction will lead you to mismanaging your trades. That is why belief systems are so important to a trader. If your belief system tells you the current trade is a winner, your mind will literally force you to let your losses run, to stay with the losers, something that no winning trader ever does. An outrageously positive belief that the next trade or two will turn your account around or make you a small fortune is the most dangerous. Now, if you start with the belief that the current trade is a loser, and there is no guaranteed success on this trade, you will be certain to cut your losses when the trade does not work in

No major loss I’ve ever had, (and I have had a fair share of them) has been the market’s fault. The market was never out to get me. I got myself by believing my current trade would be a winner, so I did not follow the stop loss.

You are only powerful as your belief system, because that belief will give you the power of taking action with more certainty and less hesitation. We act out what we believe. Our mental beliefs are the scriptwriters for our play of life and in trading.

If you adopt my belief that the current trade will not most likely work out, and you will be sure to protect yourself and your capital with stop loss. You will control disaster by taking the first lifeboat rather than going down with a sinking ship.

Adopt my belief, and you will be sure to not load up on a trade, banking on it, to take you out of your problem. A tiny loss can wipe you out if you have taken up a large position.

Positive or certain beliefs about the future can cause you to take undue risk. Doing that in trading, where the odds of success are not in your favor is a sure invitation to disaster.