Have you ever really thought about how disciplined olympic athletes are to get themselves in their tip top share to prepare for their competitions? Well they are not the only ones that have discipline.
Stock traders deal with discipline everyday when they sit down at their desk the discipline cycle begins.
Flow Chart of a Trade
It is very important to follow through with the same process each time with a trade. When you deviate from the norm then you will find that your results will not be consistent and the only place to look it back at yourself and what you did differently.
When you instill discipline in your daily routine you have the ability to take the emotion out of it and make the trades more mechanical. If This…..Then That. If it breaks out then you will buy. If it pulls back to your stop then you get out. If it hits your target then you take profit.
Keep Emotions out of It
If you find that you are feeling emotional while trading it is time to take a step back. Be aware of what is going on in your mind when you place your trades. Your mind makes decisions for you and if it is clouded with other thoughts or not clear then step away.
You want to keep the flow chart process above as black and white as possible. So be aware of your thoughts and your emotions during your trades.
Stay Grounded in Yourself
One of the best ways that I have found to keep the emotions and anxiety out of trading when I first began was the addition of yoga to my normal exercise routine. The ability to take time out of your day to concentrate on yoga breaths and simply feel your body really help me be aware of my emotions.
When life gets tough just breathe! Or if you are feeling anxious in a trade as you positioned too large then BREATHE. You might just be able to see that the anxiety of the trade was just in your mind and your trade is still following the plan.
In fact, I realized that I might be able to help other traders in learning to add yoga to their daily routines.I decided to start sharing yoga live 2 days a week Tuesday and Thursday mornings at 7:30 am EST on my youtube channel. I would love for you to join me and find your inner peace to start your day.
Daily Practice will improve your results
The top athletes train themselves everyday, and this discipline rolls over into the rest of their live. When they workout they tend to want to eat healthy too. They also stick to a routine and schedule that can help them be their best.
Initially creating your daily routine can seem difficult, but after roughy 4 weeks as long as you have stuck to new task it will become habit. The same is true in trading. When you stick to your trading plan daily and the rules the results seem to come more naturally.
The beginning trader wants it all today, but we know from changing our diets or implementing a new workout routine it takes time and constant work to make it routine. So if you are newer to trading please be kind to yourself for these new good habits to set in. Some people take longer than others to learn and to create habits.
So know that your progress is at your rate. As with yoga, your body and flexibility is likely different than mine after practicing for 20+years. There is nothing wrong with that and over time you can increase your flexibility and routine.
The same is true with trading. You might want to be an all-star trader day 1, but it takes time and you can achieve it.
Let me know your thoughts in the comments below.
I love hearing feedback, so please share. You can also contact me on my social media accounts Twitter (@ItsAirplaneJane), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane) or YouTube
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My book is available at Amazon FMJ Trust Transition Trade: How Successful Traders Said It, Did It, and Lived It . As well as Barnes and Noble, Indigo, Chapters,and more.
For my charts I use Tradingview which offer free charting and paid services.
This blog is for informational and educational purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.