Psychology is an important aspect of your activity on the markets. I often feel this is what separates somebody who can’t be succesful with somebody who can and also it can lift you from good to great. Having the right mindset makes a big difference. Throughout my life if I see somebody doing well my instinct has always been, “Hmm, that’s interesting I wonder what they are doing?”. Unfortunately in life you meet many people who do the opposite and would prefer to try and tarnish an achievement than give credit for it. In my experience that’s a very destructive way to look at things and shows up an errant mindset. One that will probably lead to a number of incorrect decisions.<\/p>\n
I know it sounds corny but having a postivie attitude really does makes a huge amount of difference. As do a number of other traits such as being self critical. While watching Horizon yesterday evening I was interested in some of the comments that were passed through the presenter. I think there are some lessons in there for all of us.<\/p>\n
One of the things they talked about was deferred gratification<\/a>, I found this link by Googling ‘Marshmallow experiment’ if you are interested. The other thing that caught my attention was the interview with Carol Dweck and her reference to the concept of a ‘Growth mindset<\/a>‘. Both interesting concepts and something I am sure will help you in your quest.<\/p>\n