COACHING
FX
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.
Tis issue, I bring you three well-proven exercises that you can use as a part of your own mental training for trading success plan.
Emotional State Regulation
When we see top sportspeople miss crucial penalties in football, double fault on match point or miss short putts to win golf tournaments it is not because those players lack the skills or abilities to be successful in those moments but because their emotional state has changed – they are experiencing increased stress, anxiety or fear. Te impact of feelings of stress, anxiety and fear also has a significant effect on trading
performance due to the impact they have on our cognitive functioning, reducing blood flow to the frontal lobes. Tis is oſten why under stress states traders make decision making errors, respond emotionally and later look back and ask ‘What did I do that for?’. Being able to manage your emotional state, to regulate feelings of stress, anxiety or fear can have a significant impact on the quality of your trading decisions and the results that you get. Practising emotional state management techniques on a regular basis can help you to increase your stress capacity and give you powerful techniques to manage how you feel pre, during and aſter trading. One of the simplest and most powerful ways to manage feelings of fear, anxiety and stress is simply by
FX TRADER MAGAZINE January - March 2012 25
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