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Mindset
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Mindset

  #1 (permalink)
Just starting out...
Ireland
 
Futures Experience: Intermediate
Platform: Ninja Trader, MT4
Favorite Futures: forex
 
Posts: 5 since Aug 2010
Thanks: 2 given, 5 received

Mindset

I know that mindset is important for many things in life but (in my experience) none more so than in trading. Getting in the 'zone' is a frequent topic and 'self sabotage', discipline etc etc. I acknowledge all of these problems and although I do not consider myself an experienced trader per se, thought that I could share a couple of the things I use to help overcome some of the issues that drag many down, including obviously myself.
How frustrating is it....you are your own worst enemy. yeh yeh...take responsibility - mm thats good, but what can I (capital 'I') do to help me.

I don't have much time for reading books and there are plenty on the topic, I want something that is quick, fits into my lifestyle (can use it on my phone, computer and takes a few mins) and both of the things mentioned below fit into that category. No I am not lazy, well maybe, I just look at the direct route from A - B instead of going around the houses, as they say. Same result.

I have found two things that have helped me tremendously and skeptics can say what they like, they do work. There is a lot of research being done and has already been done about the brains capabilities and we certainly are rookies in this area..we really don't know what we can achieve.

1. Mind Movie
I have a set of of what I can only call Mind Movies. They are 'videos' of pictures and phrases set to music that are no longer than 2-3 minutes. As daft as it sounds, playing these twice a day can have dramatic effects on your psyche. It's almost like your head finds a way without you having to think about it. It may sound cheesy, but it does work. (Anyone interested, I can forward my personal 'movies' - you can easily make your own).

2. Anyone heard of Paul Mckenna. There are some other threads on this site about hypnotherapy, well Paul's 'Change your life in 7 days' or I Can Make you Rich are quite amazing. No they don't make you instantly financially rich, however the tools they give you really help and equip you to deal with all of the problems previously mentioned, and they do open your mind to take full advantage of opportunities. The research for both of these books/courses included in depth study of successful traders as well as various other professions requiring those elements.

As with anything, no one has all the answers and in my experience, positivity really is key and the above two things certainly push me in that direction and keep focus.


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  #3 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Favorite Futures: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 448 given, 433 received


FX,

I agree that positivity is very important along with a game plan and focus. You may have been in the Psychology and Money Management section in the forum already if not, I would advise you to do so. George has a very good thread and 3rd party information that may help. I already started watching video's on EFT today. I'm going to give it 30 days to see if it helps or not. If you have a busy lifestyle then maybe an Ipod with audio's or a Kindle where you can have the books read to you by audio while driving or during lunch or beak times before bed. Whenever you have free time to listen. Something is better than not at all IMO.

Good luck with your trading!!

Cheers
itrade2win

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