In This Episode
- Subliminal recordings
- Emotional Freedom Technique
- Secrets of the Millionaire Mind
- How to identify shoplifters
- The Emotion Code
How to Install Positive Thoughts
It can be tough to install positive thoughts, especially when you're used thinking negative. So in this episode, we go over a few simple ways that you can install positive thoughts into your subconscious brain.
Walter also talks about how stores identify and deter shoplifters and how that can help you improve your trading. He also shares recordings that you can listen to in order to install thoughts while you sleep.
Listen to the Audio Version
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Read the Transcript
Hugh: Hi, Walter. What are some trading psychology affirmations or things you can tell yourself? Or, ways that you can implant those affirmations in your mind that can help you improve your trading?
Walter: The way I look at it is there's sort of two levels. Subconscious and conscious. The subconscious would be putting those in without your awareness. Subconsciousness is by definition, something that is outside of your awareness. So that could be as simple as having subliminal recordings going on in the background in your office or while you are sleeping. We've talked about those before.
You can also get into a state of meditation or hypnosis and then have those sorts of programs you know seeded into your mind, those suggestions. They call them suggestions and hypnotherapy. You can also do, we've talked about this before. You can do it when you have some things that you want to accomplish. You kind of see those as you are falling asleep in the hypnagogic state. Then, there is the other side of it which is interesting.
One of my friends in high school, his dad, wrote a book about this. Which is weird because I never knew that his dad was even into that. One time I went to his house, I found these little sticky notes everywhere that had all these positive messages everywhere. Everywhere in the kitchen and everything. I was like, “Dude, what is going on with this?” He goes, “Oh, my dad wrote a book about positive affirmations.” So that is a different thing.
There is a book actually, we'll put the link in the show notes. I think it is by T. Harv Eker and it is called, “Secrets of the Millionaire Mind” or something like that. He has like this one or two-day event that you can go to and I went to those and stuff like that. What that is, that's more of a conscious seeding. If you go into the coaches in the coaching realm — coaching is a huge thing now and a lot of coaches — one of the main messages that a lot of coaches have is this idea of congruence.
In Psychology they talk about cognitive dissonance. Where you believe something but then you know you do something else. It is kind of weird. Like, if I am not racist, why do I keep using these rude terms every time I see someone that looks different to me.
In the coaching world, they talk about, you say things like, “I am a profitable trader. I make money trading every month.” You say things like that and so the idea is that if it does not fit then there is friction there. You do whatever it takes to kind of get to that point. So that's a different sort of a thing.
Those things, while they may work, I think that the evidence is pretty clear. Most of what we do is on autopilot. Where does that come from? The best research we have today is that autopilot is your subconscious. I think that is where the main program is and that is where we should really be focusing our energies on. So that is basically my take. What are your thoughts on that?
Hugh: Hey there! I hope you find this episode useful. I just want to let you know that Walter and I give away something valuable every month that helps traders improve their skills. You can enter to win by simply leaving an iTunes review and leaving a comment on our YouTube videos.
At the end of each month, we'll look at the comments and reviews from the month and we'll pick a winner at random. Each comment and each review counts for one entry during the month that it's pitted.
So, if you're interested in that, be sure to enter after this podcast is over. Alright, back to the episode.
Hugh: I totally agree. One thing I would add to that is the actual saying of some sort of affirmation before. Maybe before you start trading or something like you said, “I am a profitable trader” or, “I make money every month”.
Sometimes the act of saying that is more powerful than some woman's voice in your ear buds like saying, “Oh, I am a profitable trader”. It depends on the person. I think that your subconscious is more likely to believe that as opposed to maybe another voice but it varies by person, obviously.
Walter: That is right. It is interesting you say that because like in the T. Harv Eker book you know, he talks about saying things like that in the mirror. Looking at yourself and then touching and doing all these things. It is kind of like emotional freedom therapy.
Hugh: The freedom technique.
Walter: That one, right. The engineer came up with it. So it kind of reminds me of that like some of the stuff in the T. Harv Eker book but what you are saying is, that is exactly right. That is one of the arguments you know for that approach. Especially if you like to look at yourself in the mirror and say it.
Hugh: There is an emotion behind it, right? like, “Oh, I am a profitable trader”.
Walter: Yeah. T Harv Eker talks a lot about just going overboard. So that if someone walks in the door they go, “This guy's nuts to get to that point”. It is interesting. I always think about this when I read something about what T. Harv Eker wrote. I always think of the research that you probably heard of this too.
It is funny I always get pegged as a shoplifter. Like just yesterday I went to the mall. It is so weird. People look at me and think I am dodgy or something. I went to the mall and I swear, I can tell because I actually had a friend in high school. In high school, my mom's friend was like an undercover shopper at a place. I don't even know if it exists anymore in the States but it was called JC Penney. It is an old store.
Hugh: I do not think they're around anymore.
Walter: So she was a JC Penny fake shopper. She went to work and she acted like she shopped all day long, that was her job. What she was doing, she was looking for dodgy characters that were stealing stuff out of the store. Back then they only put those big white tags on the real expensive stuff. Anyway, that was her job.
I know a couple of things about shoplifting because I worked at a place called Marshalls when I was in high school. They have second hand clothes like all these really cheap clothes. It is kind of like Ross.
Ross is kind of the same thing nowadays I guess but they taught us all this stuff about how to identify shoplifters. They say things like, “You always greet them and look them in the eye.” Say, “How are you doing today? Is there anything I can help you with?” That is the first thing because shoplifters a lot of times, do not intend to steal. They won't look you directly in the eye.
So every time I go into these stores, I know what they are doing. I walk in and I look them in the eye and go, “Oh, I am fine you know everything's cool. How about you? How was your weekend?” I try to throw them off their thing because they think that I am dodgy.
The other thing they do is they put mirrors up. Apparently, if there is a mirror in an area like where you are going to steal or do something bad, you are less likely to do it. Because you have to like, consider yourself.
Hugh: Look at yourself in the face.
Walter: Yeah, looking at yourself in those mirrors. You start stealing money out of the cash register or stealing clothes out of the shop or whatever. So those are the two things. The mirror and you know looking someone in the eye. That is kind of what we are saying with these positive affirmations.
You kind of look yourself in the eye in the mirror and it is like you are saying “This is true you know”. You do not want to be lying to yourself. That is so incongruous with what most of us think. We think of ourselves as being consistent. That is one of our biases.
We think we are always the same. Even though we totally change over our ideas and everything over life but you know, that is the thing. It is to look at yourself in the mirror and say that. So I just find that fascinating, that is kind of an element of this and then it also relates to you know being honest in like a retail setting.
Hugh: It makes a lot of sense. Alright, thanks Walter.
Walter: Thanks!
Hugh: All the information in this podcast is for educational and informational purposes only and is not trading or investment advice.
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