daily mental preparations of traders

This is a discussion on daily mental preparations of traders within the Psychology, Risk & Money Management forums, part of the Methods category; Successful trader don't sit in front of a screen and watch prices moving , they don't even have to constantly ...

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Old Jul 10, 2017, 7:00am   #1
Joined Apr 2017
daily mental preparations of traders

Successful trader don't sit in front of a screen and watch prices moving , they don't even have to constantly loot ak charts , they know the price area they will enter the market , these areas are subconsciously programmed in their long term memory .They set triggers on their charts to inform them by text , when the price area is triggered.

They do mental preparations and daily rehearsals ,with breathing and meditation. They are practicing patience with the trading process .Trading is a mental game , it is played within the 12 inches between the ears.

Developing routines is an important part of trading preparation. Each trader eventually develops his or her own unique routine. Routines can be thought of as a checklist for trading. They give an opportunity to review past trades, prepare for upcoming trades, and adjust the focus and mental attitude.

Choose and maintain a positive attitude.
Maintain a high level of self-motivation.
Set high, realistic targets for the trade .
Deal effectively with losing trades , don't hope or move stops .
Use positive system and self-talk.
Use positive mental imagery.pay attention blindness to losers
Manage anxiety effectively.
Manage their emotions effectively.







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File Type: pdf Mental Toughness For Traders.pdf (78.4 KB, 129 views)
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Old Jul 11, 2017, 8:04am   #2
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foroom lluzers started this thread I have a daily game plan of what trades I need to place at what levels.I only trade two instruments , Dow Jones(US 30) and DAX (German 30).
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Old Aug 6, 2017, 12:10pm   #3
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foroom lluzers started this thread Important daily mental preparations are

1)Being prepared for the unexpected and ready to act
example :mistakes unexpected news and stop spikes

2)Being mentally ready to ditch losses and move on .Most humans don't like taking a loss.

3)Mentally ready for Mastering psychology i.e loss aversion and fear of losses

4)mental rehearsals for daily entry levels

5)Daily exit levels , have fixed targets for take profit

6)Practice patience to wait for entry and exit levels.
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Old Aug 6, 2017, 1:22pm   #4
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I do none of the above
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Old Aug 6, 2017, 1:28pm   #5
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The only preparation I do is start PC and ensure the power level is good. If not, I'll start panicking.
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Old Aug 6, 2017, 1:54pm   #6
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Originally Posted by EnlightenedJoe View Post
The only preparation I do is start PC and ensure the power level is good. If not, I'll start panicking.
How do you deal with it when the panic sets in? Do you curl up into a ball and pray to your God? Does advice from Michael Jordan ease you through the pain?
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Old Aug 6, 2017, 2:02pm   #7
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Originally Posted by brewski1984 View Post
How do you deal with it when the panic sets in? Do you curl up into a ball and pray to your God? Does advice from Michael Jordan ease you through the pain?
When the panic sets in, I will want to google for a solution. But the PC's no good with no power. I haven't found a solution to that problem yet.
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Old Aug 6, 2017, 2:14pm   #8
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foroom lluzers started this thread
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Originally Posted by EnlightenedJoe View Post
When the panic sets in, I will want to google for a solution. But the PC's no good with no power. I haven't found a solution to that problem yet.
So why is it that as we moved forward from trade to trade, we become frozen with doubt when the losing trades appear or unexpected news comes in or markets behaves crazily , that you now unable to function ?

If you think about it, when winning trades appear in bunches, we get motivated and we look for reasons to find the next trade , when system analysis does not warrant .

The words “plank ” and “beginner trader” seem to fit us perfectly.
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