Solving the challenges of trading psychology with one skill

If you've been trading for a while, you're all too familiar with the majority of the trading psychological issues. Taking revenge trades because the thought of another red day hurts your gut, chasing trades because you're afraid you'll miss out on an opportunity, sticking with a loser because you don't want to acknowledge you were wrong. 

Those who have never traded are sometimes perplexed as to why someone would want to subject himself to daily psychological trading obstacles and emotional rollercoasters. However, as a trader, you understand that once you're in it, you're in it to win it! 

The question is, can you solve the challenges and if so, how do you do it? Is there a technique you can learn that will allow you to quit reacting to stimuli and making emotional decisions?

The answer is yes. 

And the skill is not a discipline, as many may think. Being disciplined allows you to use the skill I'm talking about on a regular basis, allowing you to perfect it over time. "Repetition is the mother of skill," says Tony Robbins. 

So, ladies and gents, if you want to make trading a career, there is one technique that, if mastered, can solve your problems and assist you in overcoming the trading psychological challenges you are most certainly facing. 

It's the ability to be fully present in the current moment.

I'm not referring to your actual presence. It's the ability to keep your thoughts in check and stay focused on the present moment. 

It could help to imagine your mind as a kite, which you must keep managing so that it does not lose control and flies where you want it to. You are the one in charge of the lines and the direction. Where are you going to let the kite – your mind – and hence your thoughts – fly?

Why is it so critical to trade with your thoughts focused on the present moment?

It's because going back in time and reliving all of the negative events you've had, such as losses, would activate your defense mechanism. Subconsciously, you'll be striving to avoid repeating your previous trading results, which will affect your new trading judgments. Even if the scenario isn't the same as it was the last time.

If your previous trades went well, you may feel invincible and willing to take on more risk than you should. Your prior experiences will develop a bias that will influence your current decision.

If, on the other hand, you are trading while looking into the future, you are placing yourself under a lot of stress. All of your dreams that could come true if you make money trading are on the line. Freedom, independence, travel, abundant living...

And all you have to do is make the appropriate trade decision to get there. Now is the time.

What if your next trade turns out to be a dud? Will you have to let go of your dream? Are you ever going to make it as a trader?

It may sound dramatic, but that process moves quickly, and one small bad idea often leads to another, only to explode in your face at the end. So, if you're trading and your mind is on the past or the future, don't be surprised if your emotions are activated. Because you make quite a racket at your trading desk!

And all you should be thinking about while making a trade choice is executing your trading plan and the price action!

Because price action is what is happening right now. Not yesterday. Not tomorrow. The action is happening right now, and if your thoughts are elsewhere, it will show in the quality of your decisions and, as a result, your trading results. 

So, if you're having trouble achieving your trading goals and can't seem to go forward, acquiring and perfecting the ability of being present in the moment is an excellent place to start. Keeping your attention on what's in front of you. I guarantee that if you do this, you will notice an immediate difference in your trading.

If you you are ready to achieve your goals and create the life you want, but you struggle with consistency and letting your emotions making the trading decisions for you – schedule a FREE Mindset Mastery Call with me and let's talk!