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10 Steps to Keeping Your Trading Head Straight

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  • 10 Steps to Keeping Your Trading Head Straight

    If you are experiencing a "mental block" while trading that results in; Entering too soon or late, exiting too soon or late, having doubt, uncertainty, apprehension, fear or ANY emotion these steps maybe a challenge to implement and you should consider an exploratory call (free.)

    Here are a few actions you can take to keep your mind in check.
    1) Stay in the moment and ask great questions like " What's REALLY happening." Questions help you stay in your conscious mind and avoid unwanted sub-conscious reactions. The quality of the question determines the quality of your answers. Ask a great question to get a great answer.
    2) Take a reading of your strategy and what needs to be in place for a great trade (everyone is different) Make sure those things are in place.
    3) Be realistic and honest about your trade, avoiding HWP (hope wish praying) the trade will work, but really KNOW with certainty it WILL work and have back-up data as to WHY.
    4) Take appropriate action if the trade is NOT going in your favor.
    5) Avoid the "traders fog" going numb and blindly looking at the screen in a daze. Take action asap. (questions in the moment can pull you out of a daze)
    6) Know your highs and lows in the moment and as the trade moves......make your decisions.
    7) Have you entry, stop and profit targets defined BEFORE you enter, avoid jumping in any where, be precise.
    8) Trade offensively to take Mr. Markets money before he takes yours and you need to switch to defense protecting cash.
    9) Create as much "certainty" as possible from what you are looking at.
    10) Breathe, stress causes traders to stop breathing making bad decisions. (Close eyes and take some deep breaths several times) Slow down, stay calm, and be in the moment .

    Wait for your trade knowing the best entry and Stay patient.

    Most of what I listed is to increase CERTAINTY a key component to entering, managing, and closing good trades.

    Till next time GREAT trading!

    Robin "The Trader's Coach"
    Feel free to call with questions. OR post them.

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