I launched a YouTube channel to focus on Mindset tips for traders. Weekly, I will focus on an item that I have found helpful in working with traders. (I am a trader mindset coach, helping traders with discipline, emotions, etc. This is the key challenge for most traders, in my opinion. I hope the videos are helpful! https://youtu.be/ALAGUwefbCM
Don’t know about other, But I do get overly anxious & stressed sometimes. So I have outside activities (Minimum 2h per day) And I do avoid coffee, nicotine, sugar ... Try to relax, enjoy life, family. Mindset wise: Prudence & Courage. And you need to be stoic. Impassible.
Hello Andrea Wylan, Do you have something on how to become a consistently profitable trader that covers not only mindset and discipline and emotions, but encouragement to stick with it. a trader deals with losses alot and it easy to think the loss is due to a mistake, and then the trader go back re-analyze that lost over and over and waste time, and replan the plan. When that loss was just a loss in the probability arena. IMO, and I suffer from this myself, a trader needs something that can refer to and ready daily so they know "hey, everything will be ok, be your own cheerleader, even though you just took 3 losses today"
Hi Simple, that’s funny about your last comment with the three losses. I actually used that as an example in my latest YouTube video (on self talk while trading). In the video, I’m talking about how you talk to yourself in your head when you’re trading. And, how important it is that you’re kind to yourself! In my opinion it’s one of the most critical parts of being a successful trader. Having said that, it is hard to muster up positive self talk all the time. As a coach, part of what I do is to help encourage my clients. Because I am objective I am able to see where they are doing things well and highlight it and help them see it. And, I can see where things aren’t going well, help them dig a little deeper into what’s going, and rectify it. The other thing that I would say is to focus as much as you can on following your plan— and not on how much money you’re making or losing. This can take the pressure off. If you can differentiate between three trades where you followed your plan and they just happen to lose money, vs. three losses where you did not follow your plan, that is key. Then you have something to work with. Then you can focus on how to start following the plan. Or, if you’re following it and you continue to get losses, it’s time to change the plan! I’m happy to speak with you privately about your situation if that would be helpful.