Last week we talked about the overall importance of beliefs.
I told you about the systematic application of winning beliefs by professional traders in the Wall Street Journal’s Pros vs. Dartboard competition.
You’ll recall that through 100 contests, the pros’ average win was a striking 140% higher than those stocks picked at random, striking a blow against the old academic tenet that markets are random.
I want to give you a guided tour of the beliefs that form the foundation for The 10-Minute Millionaire’s systematic approach to trading.
So today, I’m going to show you the individual steps that form the foundation of how we believe the markets work. Think of it as our “beliefs roadmap.”
Let’s get started…
Today, I’d like to ingrain in you the importance of adopting the right beliefs about the market.
Now, I know some of you won’t be able to hear this ultra-important message.
That’s because your belief is that making money in the markets is all about numbers and indicators and that things like mindset and discipline are not important.
But nothing could be further from the truth.
The more I work with great traders and new investors alike out there, the clearer it becomes that market beliefs and trader mindset are what sets apart the “Thrivers” from the “Strugglers.”
I’ve always liked the statement that we don’t trade the markets, we trade our beliefs about the market.
But it only covers part of the picture.
Even more important is that you have beliefs that actually reflect how the markets work.
And to illustrate that point, I want to share a fun experiment with you today…