Watch "Mental Training and Online Trading" on YouTube
If you are a Forex trader, you probably made some choices that you regretted after. You can probably think of many examples when your thoughts or your emotions got in the way of your trading performance.
Imagine these situations:
You closed a position in loss and the price direction changed after.
You see a movement in price and open a position in a hurry which ends up losing a lot of money.
Closed a position in a little bit of profit, despite the fact that your analysis predicts more profit.
In case of copying other people, you stopped copying after a few losses and then that trader started making more profit.
And many other times that your emotions cost you a lot of money.
If you want to increase your stress capacity, Mental training increases your trading performance potential. And like many other skills, you can be perfect by practising it.
Goals in mental training:
Eliminate doubts and worries that might get you out early from a trade or lead you to move your stop loss when you do not need to.
Increase your stress capacity.
Increase in concentration.
Manage your feelings pre, during and after trading.
To manage feelings of fear, anxiety and stress in regards to achieving the above-mentioned goals we can do the following exercises:
Regulate your breathing. You can even download apps at the beginning to help your breathing techniques.
Add Yoga to your daily routine.
Schedule your trading hours and include some rest times.
Give yourself some days off. Or simply do not think about trading during the weekends.
Go to holidays to refresh your mind.
Prepare a trading strategy and only follow that.
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