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Two Things You Need to Have to Be a Successful Trader

February 9th, 2016

When it comes to trading there are two main things that are required for you to be successful and without these two things you will be lacking in one area or another and you won't really have success, you won't really have consistency in your trading.

You won't really know and understand what's going on in your trades, you won't know and understand what to do and when to put on the positions so without these two things without these two things working together you won't have that success that you're looking.

I find that these two things that we discuss and talk about actually they apply to everyday life, so you need both of these things in all aspects of your life to become successful in just about anything.

Thanks for joining me again I'm Sasha Evdakov, and I want to share with you those two things that are required in order for you to be successful in trading or be successful in other parts of your life, so you can use this diagram that I'm about to share with you in all aspects of your life when you are evaluating whether you are successful in something or whether you're not.

Inner Game and Outer Game

When you look at anything that you do I look at it as there's two main parts that are required for you to be successful and between these two parts, right here in the middle as we overlap on this Venn diagram that is where the success lies.
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If you have both of these pieces, then you will be successful. Now inside these pieces there's a lot of little smaller little details and pieces to the puzzle, so don't think that just can you get one aspect of it or another that you're going to have success right away.
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In fact, there's a lot of little other components that go along with that success but the first thing the first thing that you'll need to have in order to be successful is the outer game and the outer game refers to things that are external to you.
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If we look at this right here this is all the things that are external or outside of you. So when we're talking about a sport when we're talking about basketball,  think of the outer game dribbling think of the outer game as shooting the basketball, that's what the outer game is all about.

If you have the outer game, if you have the dribbling, if you have the shooting then you're able to play the game, you're able to use that ball on that court properly and then you'll be at least better on the court but if you just have that if you just have fantastic dribbling skills, fantastic shooting skills, that doesn't mean you're going to be successful.

I'm going to tell you why right now because it requires this other piece the other component for you to be successful and that is called the inner game. The inner game refers to things that are internal and things that are internal are things that are inside of you.

If you're talking about basketball and you're talking about the inner game, you may have fantastic dribbles, you may have fantastic shots but if you're lacking the inner game then anytime you miss a shot you could be feeling sad, you could be killing overwhelmed, you could be feeling frustrated or angry.
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When you're feeling frustrated or angry, the last 30 minutes of the game or the last 40 minutes of the game if you're feeling bad and angry you'll be missing a lot more shot even if you have a fantastic outer game.

That inner game plays a huge role in anything that you do whether that's hockey, whether that’s your schoolwork, you know if you're studying something right now like trading or anything in college and you have maybe a great outer game you're going to class, you're attending things but you feel bad about what you're doing, you feel frustrated, you feel stressed and you don't have those inner pieces then you’re learning curve is going to be diminished, you're going to struggle learning.

In trading we have these two things as well that are required for you to be successful. So the first thing that most people gravitate to is the outer game, it's the external things and when we talk about this in trading this might be like the charts, you might learn about charts, you might learn about moving averages, you might learn about how to use the platform and just how the industry works so these are things that are the outer game.

This is what most people gravitate to initially but the thing that I find that they lack the most that thing where most traders struggle with is this piece right here and that is the inner game. The inner game is the thing that most traders just struggle with and that is because they focus so much on the charts, they focus so much on the moving averages that they don't focus so much about themselves.
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This is the you part, this is the focus, this is the plan, this is the discipline, that's the mentality, the patients and the consistency. If you don't have the inner game when it comes to trading but you have a great our game you're going to miss out because if you don't have the focus, you don't have the plan, you don't have the patience everything else won't work.

You might know everything there is to know about chart but if you can't be patient to sit in that chart, then your trading won't work out because you won't stick to your plan and the flip side if you have a break focus, if you have great patience and you have great planning but you don't know about charts, you don't know how to trade, you don't know how to use a computer, you don't know how to properly execute the trade then again you won't have that success because you don't have the outer game.

It requires both of those pieces in trading or in any aspects of your life to become successful. You have to have the outer game and you have to have the inner game, both are required to get to that next page, to get to that level where you’re optimal, where you feel comfortable, where you're consistent.

Also as I mentioned earlier there's a lot of other pieces to the puzzle as you start looking into these little section. There's many more sub steps within the outer game.

There's some steps for you to focus on or learn about the focus, to plan, to focus on your plan, to get better at your patience and the same thing with the outer game all of these things are constant improvements to your total Arsenal, they’re improvements to your overall game in trading, to your overall business strategy in trading and if you're missing one or the other you can't ever get success.

You might get lucky from time to time but you won't ever find that consistent success in trading or anything else that you do in life.

Now, because I've seen so many people over the year struggle with that inner game mentality when it comes to their training, that's one of the reasons why I created my trader transformation course and this course is really huge pack a lot of insight knowledge and material all focused on that inner game a mentality and psychology.

If you're interested in getting this course or taking a look at it then take a look at our website at Tradersfly.com or go directly to this course at Tradertransformation.com.

Thanks for joining me in this video lesson I hope you found it helpful and insightful.

Author: Sasha Evdakov

Sasha is the creator of the Tradersfly and Rise2Learn. He focuses on high-level education speaking at events, writing books, and publishing video courses on business development, internet marketing, finance, and personal growth.

I'm Sasha, an educational entrepreneur and a stock trader. In addition to running my own online businesses, I also enjoy trading stocks and helping the individual investor understand the stock market. Let me share with you some techniques & concepts that I used over the last 10+ years to give you that edge in the market. Learn More

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