Limiting Beliefs - The Silent Killer of Elimination - I had a twin brother. My older brother is John and my younger brother is Tom. They both went to the same school and got the same degree from the same university. They were both somewhat individualistic, but smart and intelligent students.
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Two years ago, both brothers signed up for a trading course and loved it. But two years later, while Tom is making a steady monthly income, John is still struggling to make money. Although John does not lose much, he is frustrated and believes that he is not destined for the fortune.
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As you can see, these siblings have very similar upbringings and have had the same education throughout their lives, but they can achieve very different trading results as a whole. In fact, I was just using my twin brother to exaggerate what I mean.
Remember those traders who started learning trading after you? But do you remember a trader who performed much worse than you? And most importantly, do you know why?
If you want to know why, read on.
Limiting beliefs and beliefs
While there are many reasons that distinguish both John and Tom, we can be confident that one of John's failures can be narrowed down to his limiting beliefs.
You see, it is important to have a strong and consistent belief (system), and John seems well equipped with that from a young age, he prepared for many obstacles.
Having a good belief system is essential to success, but the opposite is also true. Having limiting beliefs can also hinder success, which may be the only reason hindering gains.
Because, in fact, having a good belief system allows you to take appropriate actions, while having limiting beliefs prevents you from taking those actions, even if you wanted to. Can you see it?
What are your specific beliefs?
Sunrise If you're having trouble understanding the idea of limiting beliefs, let's turn the question on its head instead, ask yourself - what is a belief?
According to the Oxford dictionary, definition is “the acceptance that something exists or is true, especially without evidence.” In other words, having faith is like certainty within you. I feel safe and secure knowing that these thoughts and information are true.
The stronger the faith, the stronger the conviction. In fact, when you have strong beliefs and strong convictions, it's like knowing the sun will rise tomorrow.
The simplest explanation and answer to the original question is: the limitation of a belief is that there is no doubt about it or the absence of it. When you lack a belief (the belief necessary to take a certain action), it is often because of an equal but opposite limiting belief.
Unfortunately, the sources of both beliefs and limiting beliefs are too many to list, it's just an idea or an idea, and you may accept it for no reason because it's been buzzing in your head for so long.
On the other hand, some limiting beliefs were installed within you at an early age and may have originated in your family, school, or community.
You must work hard to make money
It's hard to trade
Time is money
Technical analysis work
Dreams are not real
John may have had the idea that he wasn't destined to be rich after losing so many times, and after a couple of years he had that belief wired completely consciously and subconsciously.
Identify limiting beliefs
Identifying Beliefs To illustrate, finding the limiting beliefs may be more difficult than I presented in John's story. For example, John's restrictive beliefs may have kept him from pulling the trigger (aka fear of trading), and John sees the problem as an emotional one rather than a belief one, and there is a possibility.
However, here is a simple formula that you may find useful when trying to find your limiting beliefs.
Step 1
Write down any goals you are having difficulty achieving. Example: I want to become a profitable trader.
Step 2
Write the reason why you cannot achieve this. Example: I don't think I can.
Step 3
Kill those reasons:
Ensure that those limiting beliefs are unfounded.
Find previous examples of achieving goals that were thought impossible.
Example: Just because you haven't done it before doesn't mean you can't do it. Or, you may have successfully completed goals X and Y in the past, even though you know you are doomed before you achieve them.