daily mental preparations of traders

[foroom lluzers]

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.

 

[foroom lluzers]

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).

 

[foroom lluzers]

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.

 

[brewski1984]

I do none of the above

 

[EnlightenedJoe]

The only preparation I do is start PC and ensure the power level is good. If not, I'll start panicking.

 

[brewski1984]

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?

 

[EnlightenedJoe]

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.

 

[foroom lluzers]

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.

 

[brewski1984]

I have removed psychological aspects from my gambling. No set-ups, no levels, no sitting around for Fibonacci pin bar trend lines to blame for my losses. I get lots of losses in a row and I'm used to that now, I know there will be a decent win to cover it just round the corner.

 

[Arashimuro]

Well, in this case I frankly envy you brewski1984... You're not a human but a robot) How a person can have no emotions, is this possible?

 

[J_C_Anderson]

For sure emotions could be very harmful for trading, causing underperformance of the trader. There is an interesting article on emotions in trading. It could be a bit difficult for newbie traders, but it could be useful.
In fact, the idea of creating robots is based on the idea to avoid emotions that influence the execution of trades. At the same time, some strategies require attention to the number of factors that could be estimated by the human trader only.

 

[fibo_trader]

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.

This is the correct and usual preparation for trading by BETA MALES = 99% of traders = all get buggered and are known to generate high frequency moans.

The Alpha Male however has none of those hocus-pocus feminine traits you mentioned.

He does it like this - sees the opportunity, calculates the strike distance and boom goes for the jugular - being Alpha, his kill satisfies him for days and days unlike the Beta Males, who have to make kills every 5 hours because all they kill are squirrels so have to kill often - killing (trading) also known as premature ejaculators

Alpha does it like this

 

[fibo_trader]

This is the correct and usual preparation for trading by BETA MALES = 99% of traders = all get buggered and are known to generate high frequency moans.

The Alpha Male however has none of those hocus-pocus feminine traits you mentioned.

He does it like this - sees the opportunity, calculates the strike distance and boom goes for the jugular - being Alpha, his kill satisfies him for days and days unlike the Beta Males, who have to make kills every 5 hours because all they kill are squirrels so have to kill often - killing (trading) also known as premature ejaculators

Alpha does it like this

See your Beta male friends and like-minded fellas in the comments below the video - Alpha Males are rare, but Betas are a dime a dozen and exist in the billions. Comments section below video tells you who the losers are in one glance and if you observe their psychology you will know instantly that that is the 95% traders lose concept's easy to understand origin. Try not to be like that, dummies.

Good luck

 

[Dreamer8]

Different types of traders use different methods to prepare themselves; some meditate, some go through news or some don't do anything. It depends from trader to trader.