FX COACHING
MENTAL TRAINING FOR TRADING SUCCESS
Part 4: Practical exercises for managing emotional states, developing
focus and
conditioning positive trading behaviours
In the heat of the markets it is your mental and emotional state that makes the real difference to your trading performance. If you take a moment to reflect on your own trading experience you can probably think of many examples of when your thoughts or your emotions got in the way of your trading performance, when you took actions that prior to, and in hindsight, you know you shouldn’t have done. It is my experience that in trading many traders oſten know what to do, but find that the real challenge is doing what they know; in following through consistently with their trading strategy.
Trading is a mentally and emotionally challenging activity and if you want to achieve success then it is important to identify your own unique ‘process of success’ – take a
24 FX TRADER MAGAZINE January - March 2012
moment to consider what it takes for you to perform well in the markets – and then to condition it, to train yourself to focus on precisely what it takes to be successful, to develop the thoughts, feelings and behaviours that enable you to get your best possible results.
When I started working with traders in 2005 I noticed that many traders were frustrated with the lack of practical psychological techniques that they could use to improve their performance and overcome the challenges they were facing. Tere are many excellent trading psychology books but what they really wanted was simple, practical and defined mental training processes, a way to tangibly practise and develop their mental and emotional abilities.
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