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Trading takes faith. Deep faith.
Let's explore what the Bible teaches us about trading and uncover why you might lack peace in your trading life.
But fear not because I’ll also share practical steps rooted in God's guidance to help you trade with tranquility and fulfillment.
I. The Problem with Trading in Chaos and Without a Plan:
So, Picture this: you're caught up in the chaos of the Forex market, making impulsive decisions and feeling overwhelmed. But worry not, my friend, because I’m going to shed light on the key issues that arise when trading without a plan:
Have you ever entered a trade against your rules in hopes of a profitable outcome? You had no rhyme or reason to be in the trade. You just felt like you wanted to be in the trade to say you’re at least in one trade. That is due to a lack of discipline.
Lack of Discipline: Without a well-defined trading plan, letting emotions dictate our actions is easy. But true discipline lies in sticking to a plan and avoiding impulsive trades that often lead to stress and regret.
When you lack discipline, you get inconsistent results.
Inconsistent Results: Trading without a plan often leaves us at the mercy of unpredictable outcomes. The uncertainty, anxiety, and lack of peace that arise from inconsistent results can be disheartening. But fear not, for there is a way forward.
When I was on my scalping journey, I was feared with anxiety. I didn’t have a strategy I could consistently follow, so whenever I’d enter a trade, I found I would sleep through my trades or not enter them. Gosh, I was so stressed then, but what helped me was creating my “trading plan, which is my written replica of what I do on my price charts” and going to God to gain clarity when I need His help.
II. What the Bible Says About Trading:
As believers, seeking guidance from the scriptures is integral to our lives. Surprisingly, the Bible also offers us wisdom in the context of trading. The Bible talks about being a good steward.
Stewardship: The Bible encourages us to be good stewards of our resources, including our financial investments. By applying sound trading principles, we can align our actions with biblical teachings and experience peace through responsible trading.
Mattew 25: 24-28 talks about the servant who was given 1 bag of gold to grow, but He hid it. Long story short, all he had was taken away because he hid what was given to him. Imagine someone giving you something; all you had to do was use your skill to grow it. As stewards, we are to use our gifts to expand the kingdom, but how can we show our thanks to God if we hide our gifts?
This is why I believe God gives us diligence and wisdom
Dil-i-gence: careful and persistent work or effort.
Wis-dom: the quality of having experience, knowledge, and good judgment; the quality of being wise
Diligence and Wisdom: The Bible emphasizes the importance of diligence and acquiring wisdom. These principles can also be applied to the Forex market, urging us to make informed decisions, seek knowledge, and cultivate peace by trading wisely.
Trading wisely requires diligence, which is to trade with care and patience. “You just have to wait until there is money lying in the corner Edwin Lefèvre, Reminiscences of a Stock Operator."
Building a routine to plan out your trades carefully is needed and doesn’t have to be tedious. It can take less than 1 minute of work if you’re willing to give your all to that 1 minute. Overcomplicating your time to plan out your trades carefully leads to your peace about your trades being compromised.
Watch this video to learn how to make trading on multiple timeframes easier.
III. Why You Don't Have Peace:
Understanding the underlying reasons is crucial to attaining long-lasting peace.
Chasing Money: It's easy to fall into the trap of obsessing over profits and losing sight of what truly matters. When we prioritize money over the process of trading and our well-being, peace becomes elusive. Let's refocus our mindset.
If you’re always on your charts watching price move pip by pip, you could become addicted to the thought of trading instead of being in your trades. This can lead to you missing out on trades because you’ve transitioned into a watcher, not a doer.
Imposter Syndrome: Many traders, including myself, have experienced imposter syndrome—feeling inadequate or insecure about our skills. This self-doubt hinders our confidence, disrupts our peace, and limits our trading potential. It's time to overcome it.
Have you ever wandered onto Instagram and seen someone else trades and their profits to mindlessly scroll their page comparing yourself to them? This is what imposter syndrome looks like. You may start to believe you’re not good enough or smart enough to trade like them. Your strategy now feels less than. My gosh, how social media can disrupt our peace.
I’ve found the best thing to do is not follow any traders on social media, but if I do, their content must be more inspirational and focus more on lifestyle than trading. With that, I’ve learned to be careful not to covet.
Coveting Sin: Pursuing quick and easy profits can tempt us to engage in unethical practices. However, indulging in such activities goes against the principles of peace, contentment, and living a righteous life. Let's realign ourselves with God's teachings.
Join Trade On Purpose Community today to go from coveting to pursuing your profitable trading.
There are two things I don’t do as a Forex trader and coach. #1 Show my profits off because I wouldn’t want to tempt anyone and share my profits outside of my own comfort zone.
The Bible says that the love of money is the root of all evil. Basically, some will give up their morals for money.
The forex industry is no different. With so many scams and people promising trading is easy, which influences others to think they can make quick profits is unethical.
Secondly, when I realized My purpose on this earth is to live a comfortable lifestyle as a minimalist. that meant I didn’t have much to show off. Living a minimal life isn’t about flash. I can have nice things; I DON’T overindulge in those things.
I remember a young man asking me, if you may money from your trading business, why don’t you buy things and show us?
I thought to myself, I wonder if he heard what he asked me. He was led by only making money with the hopes of showing it off.
That’s not me. I love living a low-key life without being a slave to others’ opinions of my lifestyle. That won’t ever bring me peace.
So if you are hoping to pursue quick profits or are tempted by what you see on social media, it’s because you’ve been led away from time.
It takes time to grow into a skillful trader.
Each trade is unique and having the mental peace to trade each unique movement the same way without knowing the outcome of the trade can be hard.
That is why we must find peace from God.
IV. How to Seek Peace from God:
Divine guidance can help you find peace in trading. Follow practical steps rooted in God’s wisdom.
Ask God for Clarification: Take time to pray and seek God's guidance. Ask Him for wisdom, clarity, and direction in your trading journey. Open your heart and invite Him to show you the path to peace.
Develop a Personal Trading Philosophy: Integrate biblical principles into your trading plan. Align your actions with your values, ensuring your trades reflect integrity, responsibility, and fairness. Let God's teachings shape your approach to trading.
I love Proverbs 31 because it references how good she was at finances and trading.
Proverbs 31: 16-18 says,
16 She considers a field and buys it;
out of her earnings she plants a vineyard.
17
She sets about her work vigorously;
her arms are strong for her tasks.
18
She sees that her trading is profitable,
and her lamp does not go out at night.
How amazing it is to have this example in front of us. Especially for my women traders out there because we trade from home too.
V. How to Peacefully Trade After Clarification:
Lastly, let's dive into practical steps that will empower you to trade more peacefully according to God's guidance:
Create a Well-Defined Trading Plan: Craft a clear and concise trading plan that encompasses your trading goals, risk management strategies, and predefined entry and exit points. Your plan will serve as a roadmap to navigate the market with peace of mind.
What you write is what you do. Your written words are your actions.
Write everything you do down and document everything.
There are many ways to document your journey. You can use a journal. Video. Excel Spreadsheet. Notion.
Chose 1 of these ways. and keep it simple.
Practice Patience and Discipline: Patience is a virtue in trading. Embrace it. Stay disciplined by adhering to your trading plan, avoiding impulsive decisions, and maintaining a long-term perspective. Trust in God's timing and stay the course.
I wish someone told me to be practical. You’re not gonna win them all. That is ok. Maintain control over what you do next and stick to the plan.
“Listen, there are super bowls, and there are playoffs, and only 1 team in every sport wins, which means there are more losers than winners. That's trading.”
Continual Learning and Improvement: Lastly, Embrace a growth mindset and commit to ongoing learning. Educate yourself about market trends, risk management techniques, and trading strategies that support your time and lifestyle. The more knowledge you acquire, the more confident and peaceful you'll become.
Conclusion:
Dear friend, peace and trading can coexist even when things look chaotic. By trading with a well-defined plan rooted in God's wisdom, you can experience a transformative journey of tranquility and fulfillment.
Remember to ask for God's guidance, align your trading philosophy with biblical principles, and implement practical steps like creating a trading plan, practicing discipline, and continually seeking knowledge.
May your trading journey be filled with peace, success, and the blessings of the Almighty. Thank you for joining me today, and remember to subscribe to our channel for more insightful trading content.
-Shaquan
P.S. I invite you into the Trade On Purpose community, where we focus on how to fit trading into your thriving life.