Summary

In the world of trading, finding inspiration from various sources and people is crucial for success. Louise Bedford, the host of the Mind Over Market segment, understands this importance and invites Don Elgin, a Paralympic medalist and motivational speaker, for an inspiring interview. Don shares his journey of transforming what some saw as a handicap into a golden ticket for an extraordinary life. His resilience, determination, and ability to align with his life purpose serve as valuable lessons for traders. From embracing setbacks to taking small steps, Don’s insights provide a fresh perspective on navigating the challenges of trading.

Finding Inspiration and Transcendence

Louise begins the interview by discussing the significance of drawing inspiration from various sources as a trader. She explains that inspiration involves evoking emotions, transcending mental limitations, and having approach motivation. By incorporating these elements into their trading journey, traders can apply the lessons learned to other areas of their lives. Louise introduces Don Elgin as a source of inspiration for traders and emphasizes the importance of letting his words seep into their hearts.

Don Algen’s Extraordinary Journey

Don Elgin, a Paralympic medalist, motivational speaker, and proud father of four, shares his incredible journey with Louise. Born without the lower half of his left leg, Don overcame challenges and achieved remarkable success. From competing in four World Championships and three Paralympic Games to becoming a sought-after motivational speaker, Don’s warmth, humor, and determination inspire audiences nationwide. His autobiography, “One Foot on the Podium,” won a silver medal at the Independent Publisher Book Awards in 2016.

The Power of Perspective

Don expresses his gratitude for the highlights and successes in his life, as they remind him of the tough times he faced growing up in a country town. He believes that perseverance through tough times leads to great outcomes. Louise acknowledges the importance of taking a step back and gaining perspective, especially in the face of setbacks and losses in trading. Don emphasizes that setbacks are a part of life, and by understanding where they fit into the bigger picture, traders can maintain their resilience and continue moving forward.

Aligning with Life Purpose

Louise raises the question of whether traders should consider their life purpose and how it has helped Don as an athlete. Don believes that aligning with one’s life purpose makes tasks feel easier and more enjoyable. It doesn’t necessarily guarantee success, but it allows individuals to be in the right space mentally. He encourages traders to engage in deep soul-searching to understand themselves better and determine what makes them tick. By aligning with their purpose, traders can find their happy place and make decisions that are in line with who they are.

Embracing Setbacks and Losses

Louise discusses how traders often bury their heads in the sand or ignore losses, hoping to avoid the pain associated with them. Don advises traders to embrace setbacks and losses instead. He explains that by fully experiencing and embracing these challenges, individuals can truly celebrate the victories and learn from their experiences. Don shares his own experiences in athletics, highlighting the importance of feeling every part of the journey, both positive and negative.

Overcoming the Urge to Quit

Louise brings up the concept of one trial learning, where individuals experience such a significant blow that they consider quitting. Don shares a personal story from his athletics career, where he felt close to quitting after experiencing a setback. However, his coach reminded him of the bigger picture and the time frame for achieving his goals. This perspective shift allowed him to overcome his urge to quit and refocus on his long-term goals.

The Power of Small Steps

Louise and Don discuss the significance of taking small steps in trading and in life. Don compares it to his experience as an athlete, where he only focused on the next step rather than the entire journey. He emphasizes the importance of breaking things down into manageable parts and celebrating each small achievement along the way. By focusing on one step at a time, individuals can progress and look back to see how far they’ve come.

The Importance of Self-Reflection

Don and Louise explore the concept of self-reflection and the power of thinking between action and reaction. Don believes that humans are most powerful in that space between taking action and reacting. By using that time to think, process, and gather thoughts, individuals can make more informed and deliberate decisions. Don emphasizes the importance of simplifying things and taking one step at a time to manage the overwhelming amount of information available.

The Pilot Light Concept

Don introduces his pilot light concept, comparing it to a hot water system with a constant flame inside. He believes that humans are born with a pilot light, representing their purpose and motivation. When fueled by external inspiration or personal experiences, the pilot light grows into a flame. Setbacks and losses may dampen the flame, but as long as the pilot light continues burning, individuals can always reignite their motivation and find success.

Applying the Lessons to Trading

Louise connects Don’s insights and experiences to the world of trading. She highlights the importance of maintaining the pilot light and aligning one’s actions with their purpose. Don emphasizes the value of small steps and the interconnectedness of all trades, both big and small. He encourages traders to honor their rules, embrace setbacks, and focus on the bigger picture. By staying true to their purpose and taking each trade as a data point, traders can navigate the challenges of trading with resilience and inspiration.

Contacting Don Elgin

Don’s website, donelgin.com.au, serves as the best platform to get in touch with him. Whether for bookings, inquiries, or simply reaching out, Don welcomes everyone to connect with him. He believes in being approachable and loves engaging with others. Traders and individuals seeking inspiration can find valuable resources and videos on his website, showcasing his motivational journey. In conclusion, Don Elgin’s story serves as a powerful reminder of the importance of inspiration and mental resilience in trading. Through aligning with one’s purpose, embracing setbacks, and taking small steps, traders can navigate the volatile market with confidence and determination. Don’s insights and experiences provide valuable lessons for traders looking to master their trading psychology and achieve success.