Getting Back Your Winning Edge
Trading is a tough business. Losses are commonplace when trading. It is necessary to make trade after trade and pick yourself up after each setback. The winning trader keeps things in perspective, however. All that matters in the end is the big picture: the profits you make across a series of trades. But picking yourself up after a setback is often easier said than done. When you are beaten down by a series of setbacks, it can be hard to get back up.
When we feel beaten down, it's easy to start mulling over what we did wrong. It's easy to start feeling sorry for yourself. Suddenly all our failures seem to be at the forefront, while all our successes seem like flukes that are of little relevance. Rather than remember our many wins, we tend to remember every single loss, and may start to think that we may never make a winning trade again. Since trading is so challenging, it's easy to fall prey to disappointment. Unless you pick yourself up and start fighting back, you could end up feeling so bad that you stagnate. You don't look for profitable opportunities so you actually do not profit, or you may make so many trading errors that you dig yourself into a financial hole that you cannot climb out of. Before a bad mood sets off a downward spiral, it's vital to feel better, and fast!
How can we feel better? How can we regain our mental edge? Dr. Ari Kiev suggests allowing discouraging thoughts to enter our consciousness briefly, and then letting it go. Trying to ignore or push an unpleasant thought out of your mind often takes more psychological resources than just acknowledging how bad you feel and allowing the thought to leave your mind as quickly as it came in. It's also important to avoid feeling bad about feeling bad. Some people are reluctant to experience unpleasant emotions. They feel guilty about feeling disappointed, but feeling guilty about feeling bad emotions just makes things worse. Don't be afraid to explore your feelings. As long as you don't obsess about them, mulling over them again and again, feeling bad for a little while can be healthy.
Another way to pick yourself up after a defeat is to think of the times you have won. By reading over a list of triumphs, you'll pick yourself up and start to feel better. When feeling disappointed, it can also be useful to try to distract yourself. Try to think of something else besides your bad mood. You might try imaging yourself doing something fun, such as playing your favorite sport or going to your favorite nightclub. The idea is to forget about how bad you are feeling at the moment, and to think about a more pleasant activity that makes you happy. And when you are feeling really bad, it may be necessary to do a physical activity that makes you feel better. Research studies have shown that physical activity is one of the best ways to get rid of a bad mood.
Trading in the proper mindset is vital for success. When you trade in a bad mood, you may make trading errors. It's vital to remain upbeat, calm and relaxed. When you trade in an optimal state of mind, you can concentrate more easily, execute trades flawlessly, and increase your chances of success.
When we feel beaten down, it's easy to start mulling over what we did wrong. It's easy to start feeling sorry for yourself. Suddenly all our failures seem to be at the forefront, while all our successes seem like flukes that are of little relevance. Rather than remember our many wins, we tend to remember every single loss, and may start to think that we may never make a winning trade again. Since trading is so challenging, it's easy to fall prey to disappointment. Unless you pick yourself up and start fighting back, you could end up feeling so bad that you stagnate. You don't look for profitable opportunities so you actually do not profit, or you may make so many trading errors that you dig yourself into a financial hole that you cannot climb out of. Before a bad mood sets off a downward spiral, it's vital to feel better, and fast!
How can we feel better? How can we regain our mental edge? Dr. Ari Kiev suggests allowing discouraging thoughts to enter our consciousness briefly, and then letting it go. Trying to ignore or push an unpleasant thought out of your mind often takes more psychological resources than just acknowledging how bad you feel and allowing the thought to leave your mind as quickly as it came in. It's also important to avoid feeling bad about feeling bad. Some people are reluctant to experience unpleasant emotions. They feel guilty about feeling disappointed, but feeling guilty about feeling bad emotions just makes things worse. Don't be afraid to explore your feelings. As long as you don't obsess about them, mulling over them again and again, feeling bad for a little while can be healthy.
Another way to pick yourself up after a defeat is to think of the times you have won. By reading over a list of triumphs, you'll pick yourself up and start to feel better. When feeling disappointed, it can also be useful to try to distract yourself. Try to think of something else besides your bad mood. You might try imaging yourself doing something fun, such as playing your favorite sport or going to your favorite nightclub. The idea is to forget about how bad you are feeling at the moment, and to think about a more pleasant activity that makes you happy. And when you are feeling really bad, it may be necessary to do a physical activity that makes you feel better. Research studies have shown that physical activity is one of the best ways to get rid of a bad mood.
Trading in the proper mindset is vital for success. When you trade in a bad mood, you may make trading errors. It's vital to remain upbeat, calm and relaxed. When you trade in an optimal state of mind, you can concentrate more easily, execute trades flawlessly, and increase your chances of success.
posted by nomadhunter at 3:07 AM
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