A Daily Routine
When most traders look back at their trading errors, and wonder why they happened, they often find that they knew how to put themselves in an optimal mindset, but they did not do so. Instead, they tried to trade under conditions that were not conducive to winning. If you want to trade at your peak, though, it's useful to follow a daily routine so as to enter the proper state of mind.
Trading in a peak performance mindset requires you to be rested, energized and ready to tackle the endless challenges the markets put in front of you. Although it is common these days to try to get away with only a minimal amount of sleep, it is not a good idea. But trading is stressful, and combating stress requires psychological stamina and physical energy. When you are well rested, you have increased energy levels needed to cope with stress. You'll find that if you get to bed early, and wake up early, you'll have the energy you need to tackle unexpected setbacks with grace.
Many traders like to get up early and do a quick workout before they start trading. It gets their mind and body moving, and releases pent up energy. Exercise allows you to have the calm energy you need to focus on and concentrate fully on the market action.
Once your physical needs are met, you can start dealing with your psychological needs. Some traders prefer to get their mind moving by scanning a few charts before they start to trade. Merely looking at charts can start your creative juices flowing. Other traders prefer to look through their trading plans. Before the markets open, it's useful to prepare your mind to focus on trading.
Some traders have a routine to get their emotions and mood under control. A good way to cultivate a confident attitude, for example, is to read through a set of affirmations such as "I am worthy. I have the ability to trade skillfully." Other traders may look through a list of past winning trades to remind them of their past accomplishments.
Starting the trading day also requires a routine. Some traders make a few small, practice trades at the open as a warm-up to bigger trades, while others stay away completely. It's important to find what you prefer and to stick with it. If you find that you can't trade the open successfully, then wait until an optimal time of day when you are most comfortable trading. The key is to increase your odds of success by trading under the conditions that enhance your performance.
It is essential to do whatever you can to enter a peak performance mindset that will help you trade like a winner. Whether it's frequent exercise, trading only on certain days of the week, or standing aside until encountering optimal trading conditions, it's useful to stick to the daily routine that helps you trade at your best.
Trading in a peak performance mindset requires you to be rested, energized and ready to tackle the endless challenges the markets put in front of you. Although it is common these days to try to get away with only a minimal amount of sleep, it is not a good idea. But trading is stressful, and combating stress requires psychological stamina and physical energy. When you are well rested, you have increased energy levels needed to cope with stress. You'll find that if you get to bed early, and wake up early, you'll have the energy you need to tackle unexpected setbacks with grace.
Many traders like to get up early and do a quick workout before they start trading. It gets their mind and body moving, and releases pent up energy. Exercise allows you to have the calm energy you need to focus on and concentrate fully on the market action.
Once your physical needs are met, you can start dealing with your psychological needs. Some traders prefer to get their mind moving by scanning a few charts before they start to trade. Merely looking at charts can start your creative juices flowing. Other traders prefer to look through their trading plans. Before the markets open, it's useful to prepare your mind to focus on trading.
Some traders have a routine to get their emotions and mood under control. A good way to cultivate a confident attitude, for example, is to read through a set of affirmations such as "I am worthy. I have the ability to trade skillfully." Other traders may look through a list of past winning trades to remind them of their past accomplishments.
Starting the trading day also requires a routine. Some traders make a few small, practice trades at the open as a warm-up to bigger trades, while others stay away completely. It's important to find what you prefer and to stick with it. If you find that you can't trade the open successfully, then wait until an optimal time of day when you are most comfortable trading. The key is to increase your odds of success by trading under the conditions that enhance your performance.
It is essential to do whatever you can to enter a peak performance mindset that will help you trade like a winner. Whether it's frequent exercise, trading only on certain days of the week, or standing aside until encountering optimal trading conditions, it's useful to stick to the daily routine that helps you trade at your best.
posted by nomadhunter at 8:50 PM
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