3 Tips To Improve Your Trading Mindset
Index 1. 2.
Improve Your Trading 3 Tips To Improve Your Trading Mindset 1. Be Present 2. Cool Your Mind 3. Know Your Limitations
Improve Your Trading ď ˝
In trading, the mentality is one of the essential elements for success.
ď ˝
Without the right mindset and enough emotional capital, it just becomes impossible to succeed at this game.
It’s a good reason that you often see former top professionals, special forces soldiers, and other the high performers becoming some the most successful traders and fund managers in the world.
In this PPT, we will cover three particular things that you can do to step up the mental game and boost the trading performance.
3 Tips To Improve Your Trading Mindset
1. Be Present ď ˝
Being present and having our minds on what we are doing at the moment is becoming increasingly difficult in these insane times we are living in.
ď ˝
Most of us are probably struggling with the information overload.
ď ˝
Bombarded with good advice and analysis, it becomes challenging to filter out the good stuff from all the nonsense out there.
ď ˝
As professionals, we must make an effort to stay focused on what we are doing.
ď ˝
When you are not placing trades, review your past trades in a systematic way and with a critical view, and write trading plans for new set-ups that are unfolding.
ď ˝
Avoid killing time by randomly looking through charts on the computer.
ď ˝
It quickly leads to overtrading and losses and is the amateur’s approach to forex trading.
2. Cool Your Mind
The most importantly they have an amazing ability to quickly revert to a calm state of mind after having intense experiences.
As a trader, the same is also very important for us.
Although we are not risking our life in the way a soldier doing, we are risking our own earned money, which also matters.
ď ˝
Professional traders have many different techniques for regaining their focus after intense experiences like for example a huge loss.
ď ˝
What most of them have in common, however, is that they get away from screens for a while.
ď ˝
Some of them choose to take the rest of the day off after having a bad experience.
ď ˝
These experienced traders know that the cost of them going away, even for a week-long holiday, is lower than the risk of making more mistakes in the markets.
3. Know Your Limitations ď ˝
A high degree of self-awareness is another essential trait that many professional traders have in common.
ď ˝
It is often said in the markets that trading is one of the best ways to learn more about our personality, although it might become an expensive lesson for those not suited for trading.
However, knowing the strengths and weaknesses applies as much to a trader’s methodology and strategy as it does to his personality.
You need to know what situations your trading strategy performs well, and when it does not play well.
ď ˝
By knowing strengths and weaknesses, you can learn to take advantage of it to the level where you become the expert trader you can be!
Thank You