Trading Psychology
Trading Psychology. How Your Mind Affects Your Trading Success.
There is one aspect of trading that, if you don’t already have it or can’t acquire it, I absolutely guarantee you will be a failure at trading.
Beginner, professional, part time, full time… no matter where you classify yourself as a trader, you NEED this ONE THING when you trade. You will never be the successful trader you could be without it.
What is this one aspect of trading you absolutely must have to be successful?
It’s mental and emotional control.
Trading can be a mentally draining, emotionally exhausting, stressful experience. You must start out with and maintain mental and emotional control at all times. Fortunately, there are resources available that will help you in this crucial aspect of your trading psychology.
I recently discovered a remarkable piece of software that will help you slay your mental and emotional dragons you have related to trading, and spur you on to the success you deserve. More on that in a minute, but first, here are some simple tips to help you train your mind to enable you to face not only trading psychology issues, but life’s problems in general
Tips On Training Your Mind
Today’s fast-paced life often puts every one of us in difficult situations where stress and anxiety dominate our day. The frequency and complexity of problems that arise and need to be dealt with weakens both our minds and our bodies, making us incapable of finding the right solutions.
There are several ways to improve your power of concentration and to learn how to relax your mind and prepare it for future struggles. Your body responds to what your mind dictates, but most of the times it does this on a subconscious level. If you manage to tap into this vital resource, which is your subconscious mind, you get an extra edge in dealing with all problems that surround you.
First of all, try to change your daily routine. Not much, just a bit, but be very conscious about the changes. In the evening, try to recall all the events that took place in a day. Quickly analyze the highlights of the day and check for any gaps in your memory. If you fail to remember details about an issue you want to recall this is a good indication that you momentarily failed to concentrate during that timeframe.
You may also try to diversify the way you live. Again, changes don’t have to be drastic. If today is no different than yesterday and the day before, you might want to include new elements in your life. You could start practicing a sport or maybe giving a shot to a hobby you never practiced before. Repetitive and dull actions slowly push your mind in a state of semi-hibernation, which slows down your responses to the issues around you.
Stimulating your mind by engaging it in a new activity always has good results. You don’t have to play heavy mind involving games (such as chess, for example) to do this. Try the simple things first: take a different route on your way to work, buy another brand of laundry detergent. Try to travel by bus, if you normally use a car and stand up on a chair to have a different perspective of your bedroom.
You can also engage your mind in other interesting activities such as meeting new people or seeing old friends. Give a call to an old high school friend and go out for some coffee or a beer. Your talks will surely trigger a chain of events that you store in your mind but almost never utilize. Still, this would be a good exercise for the mind and, more importantly, a pleasant experience for you.
There are many things you dislike or despise in life. Give them a chance; try to view them from another perspective. If there is a person you hate, try to put yourself in his or her shoes for a few minutes. Try to see yourself through the eyes of people around you and objectively observe your actions and beliefs. Try to let a clear mind analyze events that you find annoying and ignore the preconceptions that urge you to judge a person or event in a certain way.
All of the above are just some simple exercises that will help you face your problems better prepared. Do not overdo any of them, and let them integrate naturally into your way of life. You may soon look in the mirror and see a happier you!
And now, on to business…
The markets are back in the red today in this back and forth market movement environment.
According to MarketWatch:
“
But here’s a stock bucking the trend today…
Stock For Review
Our Stock For Review today is TZOO – Travelzoo Inc.
After a recent monster move from $20 to $50 in just six days, TZOO has settled back a bit, but may now be ready for another assault to the upside. It’s up over 4% today on a nice reversal candle, on volume 735% above normal.
Going to the zoo is always fun. This “zoo” could be profitable as well!
Most Recent Double-Digit Percentage Gainers In One Day
Here are a few of the DDPG’s since our last update:
We are hitting some out of the park again this week!
TGC – Up 11.32% in the Amazing Amex Movers area.
MZT – Up 11.29% in the ARM Plays area.
NCOC – Up 20.17% in the ARM Plays area.
IDSA – Up 14.93% in the ARM Plays area.
DIL – Up 11.81% one day and 10.06% another day in the ARM Plays area.
DXPE – Up 15.14% in the CAN-CAN Portfolio.
ISRG – Up 23.58% in the CAN-CAN Portfolio.
GIGM – Up 17.53% in the Gun To The Head Trader service.
HITT – Up 12.33% in the Stock Fishing Portfolio.
CTV – Up 16.66% in the VAL-CAN Portfolio.
PLXS – Up 10.92% in the VAL-CAN Portfolio.
Product Of The Day
Here’s that software I talked about previously. It’s called TradingMind. Now there's no reason to ignore the mental/emotional side of the trading equation, because TradingMind Software was made specifically for the trader.
Here’s what one highly satisfied TradingMind software user recently said:
“I received the TradingMind Software about a week ago and have listened to at least 2 sessions each day. I am learning to day trade the S & P and the Nasdaq e-minis which takes a tremendous amount of discipline, focus, control of emotion and control of fear.
Even though I will need several sessions with each of the l0 sessions I have found already that I more able to relax and focus and am working on discipline and fear. I feel that this training will make me a much better trader and will spend my time making money instead of worrying about losing money. Thanks for your help.”
To banish all trading psychology issues from your trading, check out this amazing software…
How To Remove All Negative Trading Psychology Problems Once And For All!
posted by J. Daryl Thompson EMAIL TO A FRIEND
<< Home