Trader’s Mindset Weekend Thoughts
“Attitude is a reflection of character and character is a reflection of habit.” ~TOM ZIGLAR
Everything we do is a reflection of our inner thought process, we, in fact, do not initiate one action if that was not in correlation with our deep state of mind. That same applies to trade habits.
We build super confidence with ZERO money management after making a few successful trades & visa versa start taking much fewer trades and exiting much faster or revenge trading after few losing trades.
In the above-stated cases all, you see is a shift & unbalanced mindset if you want to be successful in trading your FOCUS, should be only on the plan and more importantly trusting the process. Once you shift your focus from the PROCESS to your EMOTIONS you will surely end up with a significant loss of capital in a short period of time.
Trading with a set plan is what grows your account, once you diverse your attention on the wrong elements in trading (Greed, Doubts, Procrastination, Fear) you are on the wrong path!
One important note, if you wake up every trading day with NO TRADING PLAN SET in mind, once your trading day starts it's too late to set one & eventually when you enter a trade with no set plan you are letting your emotions decide the outcome of that trade and your EMOTIONS will be the reflection of the deep state of mind you are currently in (Fear state, greed state, etc…)
A helpful tool, Keep your Plan handy and visualize it at the end of the day before sleep & start of the day. Keep it simple & straight to the point.
For example, a note staying to your self (I, XXX, will follow my plan no matter what ) read this affirmation with conviction in yourself. What you are doing here you are focusing on the process and not the trade by trade and more importantly, you are enforcing a positive attitude & habits and making sure to achieve them.
Try this simple process for 2–3 weeks don't give up on your self. Whenever you start doubting your abilities tell yourself if my old habits in trading have helped me why am I here today?
Remember trading is all about simple trading plan & mental focus on your goals and definitely NOT YOUR EMOTIONS.
Hope the above article was helpful to you,
Yours truly.
A Trader’s Mindset
