FX ASK THE COACH
“Can trading simulators be a useful tool to help keeping concentrated while trading in the real market? And are there some exercises to avoid losing discipline while implementing my strateg y?” Marc V.
Steve Ward Traders Coach answers your questions
The topic of discipline is always a popular one in trading, and there is a link between concentration and maintaining discipline. Here are some of my perspectives on the
when specifically you find yourself losing concentration and also when specifically, under what conditions and contexts you find yourself losing discipline. The lack of real risk and reward on a simulator means
that
your discipline will not be fully tested – as it is the shifts in your stress levels, emotions and thinking that winning and losing money bring that ultimately affect your trading behaviour.
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1. I believe that simulators are excellent develop
for helping trading strategies,
traders to
to be
creative and experimental, without the associated risk and costs of losing. They are also excellent for helping traders to practise and hone their execution skills. Whether the simulator can help you to solve the problem of losing concentration from time to time and remaining disciplined I am less certain of, but this would be dependent on
Assuming a trader has an effective strategy, avoiding excessive stress, staying focused on the trading process, regulating emotions and staying physically energised will be key to the quality of his decision making, discipline and how he performs.
challenge that you have mentioned. 2. When I present workshops/
training and talk about sustaining effective execution of your trading strateg y (let’s call this discipline) I highlight four key areas that have some impact on this. They are stress, attention/focus, emotions and energ y.
Assuming a trader has an
effective strateg y, avoiding excessive stress, staying focused on the trading process, regulating emotions and staying physically
key to the quality of his decision making,
discipline how
energised will be and
he performs. These are areas to look at
34 FX TRADER MAGAZINE April - June 2016
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