This is what holding many traders back from being successful

Some people don’t actually believe that they can become successful. This is deep imbedded inside their character and belief system.

You can find short term success by switching trading systems. But how long does it take you to backtest a trading system? You need to a dataset of at least 100 trades and you have to tweak it to fit your personality.

If no one in your family has ever achieved making more than $69,000 a year, it is highly likely that you will simply accept your fate and believe that it’s not possible to make more than $69,000 a year. Maybe you can push yourself a little more and earn $80,000 a year, but there is a ceiling. Unless you get over the mental hurdle and self-identity, you will be unable to break through that ceiling. It’s not going to happen instantly. You won’t be able to change your self-identity overnight. It’s going to take small changes and adaptation over a long period of time. You’re already condition to think with a ceiling for the majority of your life. It’s not going to be easy changing this thought process.

It's tough, but achievable. Everyone is able to do it. Daily small changes produce great results over a period of time. This period of growth is needed for you to break through this ceiling.
You have to be aware of such mental hurdle and self-identity exist in your mind. Think about how you were brought up. Think about your childhood. How did your parents treat you? Did they give you everything you wanted? What about your parents? Do they have multiple low-paying jobs? Did they bring you overseas annually? Did you have a huge party during your birthdays? Did you look forward to Christmas because you will receive a lot of presents? What did your parents teach you about money? How is your relationship with money? Do you live by paycheck to paycheck? Do you have a budget?

Now that you’re aware of all these experiences that shaped you, you can choose to reinforce on the positives and changing the negatives. If you live paycheck to paycheck, start with having a budget and stick to it. Keeping within a monthly budget is also a way to train your discipline. Furthermore, having a budget can develop good relationship with your money, but also contribute towards achieving your goals.

If you have a strong connection and relationship with your money, find ways to strength the connections. Understand your cash flow. Understand where are your money are coming in from, and going out to. Find ways for your money to work for you.

Next, have a list of affirmation. Write them down using present tense and using “I am”. Below are some examples that you can use to affirm and influence your self-identity.

1. I am successful.
2. I am good with managing my money.
3. I always follow my trading rule.
4. I earn at least 6-figures of profits from prop firm every year.
5. I am a consistent profitable trader.

Look into the mirror and read them every morning after you wake up, and before you sleep. Look into your eyes when you say your affirmations out. You do it in the morning because it sets the tone and direction for your day. You will feel in control because you have your systems in place to guide you through the day. You do it at night before you sleep because you want to drill these affirmation and self-image into your subconscious mind.

This will take months to years to reprogram your mind. Remember that it took you more than 20 years to have your existing mental hurdle and self-identity programmed into your subconscious mind. As long as you religiously do this every single day, you will find progress not only in trading, but also in other areas of your life.

Please feel free to share your thoughts and opinions in the comments section below.