A while back, I wrote a post about research that shows how living a purposeful life is a key to happiness and life satisfaction. That applies to our trading, as well. If we are purposeful about our development as traders, we are most likely to be successful *and* we are most likely to be fulfilled in our efforts. My article for Forbes several years ago summarized research regarding the amazing psychological benefits of living purposefully. It's when our life is inspired by a why that we are most likely to succeed in the quest for how.
As the John Maxwell quote above points out, having a genuine and meaningful purpose is a vital part of what gives our lives significance. The ego might look for more strokes, but what feeds the soul is the opportunity to make a "contribution" by doing something "noble". This is why spirituality is vital to trading careers and why so many of our trading psychology challenges occur when we place ego needs ahead of what enables us to thrive.
For many traders, the concept of trading spirituality is an oxymoron. Trading is all about making money; spirituality is not. But any activity can be pursued in a manner that is more or less soul-full. When we have an overarching life mission that improves us and our world, any activity can become a meaning-full path. We overreact to gains and losses--and we overtrade--when trading is simply about P/L. When we approach trading as a path for self-improvement, and when we work in teams where everyone is improving everyone else, suddenly we become part of "something noble and purposeful".
So let's step back and ask ourselves a few questions. Self-assessment can be uncomfortable, but no change ever comes from staying locked in our comfort zones:
What is your path to greatness? How does your development as a trader move you forward on that path? If you're not doing something meaningful and purposeful each day, how can you possibly hope to live a purposeful life? What meaningful and purposeful thing are you doing with your trading today? We are most likely to pour ourselves into activities that capture our strengths and our interests. How will today's trading be fulfilling and rewarding for you regardless of the ultimate profits and losses?
Great trading, like all things great that we do, comes from the soul. Perhaps the best thing for your trading psychology is to stand back from profits and losses and cultivate the spirituality of your trading. The key to mastering trading psychology is to always tap into what is more important to you than the profits and losses of trading.
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