One of the most amazing books I’ve read is called Psycho-Cybernetics written by Maxwell Maltz and originally published in 1960.
One thing he talks about is servo-mechanisms. Basically, in my interpretation of this, servo-mechanism is synonymous with ‘subconscious mind’ or ‘higher self’ or ‘infinite intelligence’, if you will. This has a HUGE bearing on Trading and Investing.
Maltz describes that there are 2 types of servo-mechanisms. One is where the target, or goal, is known. This is like a guided missile heading towards it’s programmed target. The goal is clear and known.
The second is where the target is not known, but is believed to exist. This is like Edison inventing the light bulb – or anyone inventing something that did not exist prior.
Having more of an unknown target (or less tangible or subjective target), requires much more of something. That is the person must have FAITH that the target exists (or will exist) and that they CAN reach it.
For this second type of target, you must have faith that the target exists and believe you CAN achieve it – or, after a few failed attempts of hitting your target, it’s easy to give up.
Looking at these, it’s clear to me that having an objective, tangible target is easier to achieve. Because in these cases you have PROOF that something has been achieved and can be achieved by YOU.
However, in most cases for most people, achieving proficiency and then mastery of trading and investing falls more into the 2nd type of target. So to increase your odds of success and your fortitude to forge on when you have setbacks, you have to turn your subjective goal INTO an objective goal.
If you FIRMLY believe something exists, like trading mastery for YOU, then you won’t give up as EASILY and your chance for success is many times higher.
With a lack of a firm belief in yourself and how ‘realistic’ the goal is for you, it’s quite easy to give up when you come across hardship or setbacks.
In trading and investing, a person only KNOWS he/she will become a profitable trader IF HE/SHE BELIEVES THEY CAN BE. They know in their minds that there are others that are doing it, living the dream of making money consistently in the markets. However for many new folks, they don’t truly believe that THEY can do it.
And if there is any doubt – then those NATURAL set backs and hardships that can occur will be allowed to have more negative impact because without faith it’s so much easier to give up.
When your goal is not really clear/visible, it’s easy to throw in the towel. Without a clear/visible goal that you believe you can attain, one starts to logically question “why go through all this pain when I can’t do this anyway?”
So – how do you get faith and belief? People all the time say they BELIEVE and have
FAITH – but they don’t at their CORE…in actuality it’s just lip service.
How do you get it at your core? You have to have a strong self image and the identity of someone who is achieving what you want to achieve.
Start by choosing what you want to be, have and do.
Next, create the FEELINGS in yourself that you have already achieved your goal.
Keep doing that, day in and day out – really use your 5 senses – what do you see as this successful person? What do you hear? What do you smell? What do you taste? What do you feel? This could be the type of clothes you wear, the food you eat, the smell of the beach or mountain or far east street vendor’s cart……let your imagination take you there.
Keep it up consistently, day in and day out, and you will be amazed at the changes that can start forming in your life.
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