Novices will attribute trading psychology to the category of unnecessary things or at least to not very useful things. They say – “Trading strategies and signals are much more needful”. Active and successful traders, those who have passed a certain way and reached the level of stable profit, will disagree. An effective strategy is nothing without discipline and mental attitude… These merits will be discussed in this article.
Many professional and very successful leaders from the world of sport use the power of visualization to achieve the highest possible level. Visualization skill is becoming as a recognized method of success. The most ardent supporters of visualization – athletes, but there are surgeons, artists, businessmen. They mentally imagine, how they will act and react to different adverse or, on the contrary, favorable situations that may occur during an important meeting or event.
How visualization can help to traders? Here’s a real example of a successful trader who use it. “At the entrance to the building where my office is located, there is a fountain. One morning I came too early, so I sat down on a bench and gazed at the fountain. I imagined myself at my desk. I saw myself, calmly closing each deal, according to my well-laid plan in advance. When the deal is closing with “Stop loss”, I got out of the deal without emotion. When the target profit has been reached, I quickly assessed the situation and decided to close it or not. I’ve spent in thoughts just a few minutes; I’ve got up from the bench and went to my office. “There were wonderful things in that day” – he continued with a smile. “I’ve done some of the best deals of my career. In fact, the day was just how I imagined it. Now every morning I sit in front of a fountain and imagine myself to make deals as easy as I can. At the end of the day I leave office with saved emotional energy and tangible results.”
Try to take advantage of this simple but effective method before starting your trading day. Go to a quiet place where you will not be distracted for a few minutes. Sit quietly and imagine yourself efficiently working during the day. Following the example of the trader, see yourself calmly and confidently make deals according to your plan. The more you practice visualization, the better you will be able to keep calm and focused approach to trading.
Here is a list of 10 ways how you can improve your visualization skill