mindset vs time blocks

Discussion in 'Psychology' started by chiguy, May 31, 2005.

  1. a question...

    as a career trader do you find that your mental state is better when you take each day as a completely new event rather than trying to "make your month".

    i know this may sound silly but i was wondering....

    i am finding that if i plan on doing this for the foreseeable future that i place less pressure on myself if i take it day by day and trade by trade...

    been doing this about 18 months and i still feel that i am forming my mindset as i go...i feel that this will be a continual process...

    any thoughts...opinions...
  2. Yeah... I go thru this process every once in a while. It is also a work in progress here. I find that the month thing is the result of too much attachment to money. I continuously remind myself that I need to trade better rather than make more money. If you carry yesterday into today, your mind set may be one of recovering your losses rather than to just trade better than yesterday. It is a good time to evaluate your attitude towards trading and to figure out if you are too attached to the financial result. This might not make sense. It took some time for it to make sense to me.

    Best wishes and good luck trading.
  3. i find myself breaking away from the month time frame.....

    if i just concentrate on the now (easier said then done) i feel a lot more at ease with the occasional bad day...
  4. My exact sentiments. Like you, for me it is a work in progress. I has especially intensified lately due to this recent but prolonged rough patch I have hit. It is a good time, though, to re-evaluate my mindset and just get more rest instead of responding to the urge to struggle.

    Best of luck.
  5. wdscott


    The following advice was given to me by my tennis coach. I feel it is an appropriate mindset in trading as well.

    1. Stay in the now. Focus only on your next point, next shot, (next trade) etc...

    2. Believe you belong.

    3. Wear your heart on your sleeve.

    4. Enjoy the process.

  6. If you believe you can damage, believe that you can fix.
  7. =======
    Like monthly, yearly written goals;
    but i dont confuse them with predictions.:cool:

    Right on making sure to focus on plan;
    not making month ,
    however its less pressure on me to measure more by month rather than one day or one trade.

    Like the research part of it also ;
    and several months ago tightened up a sell rule in my plan ,
    actually fun to take some discretion out of plan specifically.