Discipline is the hardest trait to become good at in trading. We need it in analyzing charts and news updates as well as being aware of risk management and psychology. It's difficult to keep track of all those all at once. It can overwhelm us to become impatient and not aware of our mental and emotional states. Which results in poor performance.
I was in that phase in my life for 4 years straight. No coach was on my side guiding me through the journey. I had to teach myself everything that makes a person become a successful trader. It was tough, especially mastering the mental and emotional side of the game. Not being aware of those two and how to improve them is what led to consistent failure.
But when I began studying and applying what profitable traders do to be successful, I became one of them. It was hard though. I had to change my internal monarchy by facing my demons and tearing down old limiting beliefs. I used various techniques to make that happen. The results were astonishing. I became more mindful and self-aware. I understood my emotional nature, which allowed me to be quick to spot and tone down bad emotions.
I did the following to achieve that results:
1. Journaling.
It is a process of recording the what, why, and how behind the trade as well as your thoughts and emotions before, during, and after the trade. Doing this will keep a record for you to reflect on in the future when you want to improve your performance. That feedback will raise your self-awareness which will protect you from sabotaging your trading performance.
2. Meditating.
It is a mental exercise that trains the brain to be mindful and self-aware of your emotional triggers and behaviors that disrupt your performance. Moreover, it will allow you to improve your focus levels for a trading session. So, every day, sit quietly on your chair with your back straight and your eyes closed, then focus on your breathing pattern for 10-15 minutes.
3. Breathing.
I know you can breathe, but I bet you that your breathing is incorrect. Most people breathe through their mouths, which is wrong because the air doesn't get to the brain. The air we breathe through our nose releases certain chemicals in the brain that makes it awake and calm. It also does other things in the body that helps control it when fight/flight emotions trigger. Breathing techniques allow us to gauge those triggers during the trading session. Thus, whenever you tap into a negative state, stop and sit back on your chair, then do the following 4-7-8 breathing exercise. Inhale on the count of 4. Hold your breath on the count of 7. Then exhale on the count of 8. Do this 3-5 times.
I was in that phase in my life for 4 years straight. No coach was on my side guiding me through the journey. I had to teach myself everything that makes a person become a successful trader. It was tough, especially mastering the mental and emotional side of the game. Not being aware of those two and how to improve them is what led to consistent failure.
But when I began studying and applying what profitable traders do to be successful, I became one of them. It was hard though. I had to change my internal monarchy by facing my demons and tearing down old limiting beliefs. I used various techniques to make that happen. The results were astonishing. I became more mindful and self-aware. I understood my emotional nature, which allowed me to be quick to spot and tone down bad emotions.
I did the following to achieve that results:
1. Journaling.
It is a process of recording the what, why, and how behind the trade as well as your thoughts and emotions before, during, and after the trade. Doing this will keep a record for you to reflect on in the future when you want to improve your performance. That feedback will raise your self-awareness which will protect you from sabotaging your trading performance.
2. Meditating.
It is a mental exercise that trains the brain to be mindful and self-aware of your emotional triggers and behaviors that disrupt your performance. Moreover, it will allow you to improve your focus levels for a trading session. So, every day, sit quietly on your chair with your back straight and your eyes closed, then focus on your breathing pattern for 10-15 minutes.
3. Breathing.
I know you can breathe, but I bet you that your breathing is incorrect. Most people breathe through their mouths, which is wrong because the air doesn't get to the brain. The air we breathe through our nose releases certain chemicals in the brain that makes it awake and calm. It also does other things in the body that helps control it when fight/flight emotions trigger. Breathing techniques allow us to gauge those triggers during the trading session. Thus, whenever you tap into a negative state, stop and sit back on your chair, then do the following 4-7-8 breathing exercise. Inhale on the count of 4. Hold your breath on the count of 7. Then exhale on the count of 8. Do this 3-5 times.
