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TRADING PSYCHOLOGY


whether you truly want to perform at an elite level – or if you are satisfied with seeing your potential but not doing what it takes to realize it.


So it is with trading. Platform and methodology are necessary to compete. But these two are never enough to


become an


elite performer. Until the trader learns to be an emo t ion a l l y d i sci p l i n e d manager of risk (as determined by the success or failure of his trading account) he remains just a player in a crowd of performers who cannot


bring


a performance edge to their me thodolo g y. They have the know-how to trade in theory, but they do not know how to trade in practice when the money counts. The defining factor is not what you want to believe


about yourself, but that


ultimately matters tremendously in trading. It is about the health of your trading account that determines the development of your potential as a trader. Your trading account will tell you the truth whether or not you want to hear the news.


Your thinking brain is being hijacked by the power of survival instincts embedded in your emotional brain


has on trading success. Just about anyone who has been around a while has figured out platform and


methodology. uncertain However,


psychologically they cannot handle the pressure of risking capital to


outcomes. Trading


psychology becomes the stumbling block for many a knowledgeable trader, who cannot move from knowledge to performance. Trading


This is precisely where traders get and stay stuck. They keep looking to the technology of trading, the knowledge of trading, for the answers to their performance problems rather than within themselves. And in doing so, they miss seeing the impact that performance psychology


FX


knowledge does not provide an edge unless the performance psychology is rooted in emotional discipline – planning your trade and trading your plan.


The management of emotions is


essential for this to occur.


Otherwise every time you engage uncertainty, you force the brain into a vulnerable position – a position in which it could lose. Vulnerability


is


dangerous to the emotional brain. It


a


v u l ne r a bi li t y as


interprets biological


threat – not just ps ycholo g i c a l discomfort. This is how the fight/ flight response is triggered just when


you


need a calm disciplined mind for the work


of managing uncertainty and risk. When you trade and do not accept that control is an illusion, you need to recognize that you are throwing the survival based emotional brain back into the dangerous times from which it evolved. Your trading mind is a set-up for emotional hijacking every time you risk capital with an uncertain future. The survival instincts of your emotional brain


FX TRADER MAGAZINE January - March 2019 49


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