A Strong Trading Mind
- Thread starter amitrandive
- Start date
Ravi Bhai
Turning into a strong trading mind is not an overnight process.
But it is very easy if we want to do it.
I am also still learning this,but what I have learnt that we must identify our strengths and weaknesses and interweave our trading system into it and not the other way round.
Starting with awareness,mindfulness and gratitude.Meditation is the best source to achieve all of this.
So, how can you convert negative thoughts to positive ones? As your inner-critic shouts them out, your coach should correct them. Hence, you must:
Some good links for your reading ,
http://blog.opentrader.com/how-to-reprogram-your-mind-for-trading-success/
http://www.fxkeys.com/how-to-contro...ive-thoughts-to-positive-while-trading-forex/
http://traderkingdom.com/trading-fu...ransforming-a-driven-mind-into-a-patient-mind
A great flowchart for changing habits
http://www.lifehacker.com.au/2012/04/change-a-habit-in-three-steps-with-this-flowchart/
Turning into a strong trading mind is not an overnight process.
But it is very easy if we want to do it.
I am also still learning this,but what I have learnt that we must identify our strengths and weaknesses and interweave our trading system into it and not the other way round.
Starting with awareness,mindfulness and gratitude.Meditation is the best source to achieve all of this.
So, how can you convert negative thoughts to positive ones? As your inner-critic shouts them out, your coach should correct them. Hence, you must:
- Identify it – pay close attention to your thoughts and pick out the positive, negative, and neutral ones.
- Cancel it – as a negative thought crosses your mind, it is only coming from your inner-critic. Create a picture or an icon like a red stop sign and say “STOP!”
- Replace it – take that negative thought and change it into a positive one. What should your inner coach say.
Some good links for your reading ,
http://blog.opentrader.com/how-to-reprogram-your-mind-for-trading-success/
http://www.fxkeys.com/how-to-contro...ive-thoughts-to-positive-while-trading-forex/
http://traderkingdom.com/trading-fu...ransforming-a-driven-mind-into-a-patient-mind
A great flowchart for changing habits
http://www.lifehacker.com.au/2012/04/change-a-habit-in-three-steps-with-this-flowchart/
Last edited:
"Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach." - Michael Marcus
"Investing is no different. It is a game of repetition where hundreds of small actions result in one larger result. But most importantly, it is a game of risk management. It is not the home run hitter who wins in the long-run. Rather, it is that strategist who devises the best long-term plan who ultimately wins. While hitting home runs is sexy it is rarely a recipe for success in the investment world. Aim high, but play small. Over time, good risk management and patience wins. Power is no substitute for precision and patience. The same is true in the world of investing." - in The Prag Cap
The trinity of successful trading:
1. A trader must accept loss.
2. A trader must accept the uncertainty of the results of any given trade.
3. A trader needs to think in terms of overall probabilities. (Trade for expectancy not accuracy.)
" Successful traders accept and expect losses. Losses are endemic to trading; they are the cost of doing business. The consistently successful trader accepts deep in his heart that his winnings will be tempered with inevitable loss. But the trader anticipates his ultimate triumph because he has structured the probabilities in his favor".-Linda Bradford Raschke
1. A trader must accept loss.
2. A trader must accept the uncertainty of the results of any given trade.
3. A trader needs to think in terms of overall probabilities. (Trade for expectancy not accuracy.)
" Successful traders accept and expect losses. Losses are endemic to trading; they are the cost of doing business. The consistently successful trader accepts deep in his heart that his winnings will be tempered with inevitable loss. But the trader anticipates his ultimate triumph because he has structured the probabilities in his favor".-Linda Bradford Raschke
Thich Naht Hahn -
Suppose you talk to your smartphone. “Dear friend, I suffer. What shall I do?” And your smartphone says, “Oh! The first thing you have to do is to breathe in mindfully and go back to yourself.”
There is a Zen story about a person sitting on a horse, gallop ing very quickly. At a crossroads, a friend of his shouts, “Where are you going?” The man says, “I don’t know, ask the horse!” This often is our situation. Here horse is technology . The horse is supposed to carry us to a good destination, as is technology
We pick up a book to read, hoping to have a sensation. We go to the Internet, looking for pictures and songs and music to have a certain feeling. When you listen to music or read a book or newspaper out of routine, you are doing it so you won’t encounter yourself. Many of us are afraid of going home to ourselves, So we look for sensory impressions to consume. Technology, the Internet, is helping us to do this.
Many young people do this. A teenager confessed to us in a retreat that he spends at least eight hours each day with electronic games, and he cannot stop. At first he was playing games to forget, and now he’s addicted to it. Many young people are trying to fill up the loneliness, the emptiness inside, by looking for sensory impressions. That is the second source of nutrient.
There are many people who check their email several times a day and find nothing new. Because you are empty inside, you are looking for something new.-Thich Naht Hanh
You have to learn to generate peace and calm , : a feeling of joy, a feeling of happiness. That is possible with the practice of mindfulness.And not at all difficult ---My 2c .
Suppose you talk to your smartphone. “Dear friend, I suffer. What shall I do?” And your smartphone says, “Oh! The first thing you have to do is to breathe in mindfully and go back to yourself.”
There is a Zen story about a person sitting on a horse, gallop ing very quickly. At a crossroads, a friend of his shouts, “Where are you going?” The man says, “I don’t know, ask the horse!” This often is our situation. Here horse is technology . The horse is supposed to carry us to a good destination, as is technology
We pick up a book to read, hoping to have a sensation. We go to the Internet, looking for pictures and songs and music to have a certain feeling. When you listen to music or read a book or newspaper out of routine, you are doing it so you won’t encounter yourself. Many of us are afraid of going home to ourselves, So we look for sensory impressions to consume. Technology, the Internet, is helping us to do this.
Many young people do this. A teenager confessed to us in a retreat that he spends at least eight hours each day with electronic games, and he cannot stop. At first he was playing games to forget, and now he’s addicted to it. Many young people are trying to fill up the loneliness, the emptiness inside, by looking for sensory impressions. That is the second source of nutrient.
There are many people who check their email several times a day and find nothing new. Because you are empty inside, you are looking for something new.-Thich Naht Hanh
You have to learn to generate peace and calm , : a feeling of joy, a feeling of happiness. That is possible with the practice of mindfulness.And not at all difficult ---My 2c .
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