What other component is important to trading and investing.

Belief systems. Beliefs are grounded in the universe. Everything I've said in this interview reflects my beliefs. Beliefs are filters. You see and experience what you expect because your beliefs are filters to reality that allow you to find information and evidence to confirm them. Beliefs are concepts that help you understand things in this universe.

For example, people once believed that the earth was flat and that everything in the universe revolved around the earth. People's lives were shaped by that belief. We then believed in Newtonian physics where everything was mechanical and lawful and most of the universe was thought to be outside of us. And today we've moved into quantum physics in which everything is relative and the observer has an effect on the observation because he is part of it. The laws of physics (which are really just beliefs) shape our concepts, inventions, and progress. Probably at a level beyond all of that (of course, this is a belief) is that once you give up all of your beliefs, you have an experience of the universe as it really is-which tends to be a very profound spiritual experience of the kind that some of my clients have after an emotional clearing.

Beliefs are one of the ingredients of success. They tend to form a hierarchy with spiritual beliefs and self-concept beliefs being the most significant. I've written extensively on this topic in my home study program. Most significantly, I have developed my advanced course, Peak Performance 202, to maximize a person's understanding of belief systems and how they affect not only our trading and performance, but our daily lives. It's powerful material.

source by Dr Van Tharp