This is a followup video and also bonus video for the series Price Action Traders Mindset.. In part 4 of that series I went over the power of psychology and how it can literally obliterate some traders success. To the point where one trader maybe following the same strategy as another and yet one of them may only be successful. This is because it is not just the strategy at play every time we open a trade, it is our own dealing ( emotions ) with how the trade is managed afterwards.
If you are the sort of trader that takes profits too early, uses too big a stop losses, over leverages there account in a single trade or even sees there analysis of there trade as wrong after there entry then this video is for you. And guess what, you are not alone, this is a very common process that all traders go through..
Above – In this video I go over the common psychological battle many traders go through after trade entry and how a few positive notes can help change old bad habits.
My Old Trading Journal Notes…
After digging through my old trading journal yesterday one page stood out for me, it was my positive thinking page, what I wanted to be better at in trading and also how I wanted to be as a trader. It went against my weaknesses and also gave me something positive to strive for. If you and I am sure you do, have similar weaknesses, correcting them by writing what you want can have massive impacts.
Many people simply focus on the negative and because of this they get stuck in that cycle.
As trading is highly impacted by emotions, getting control of these elements is essential. One may see these positive affirmations like rules or restrictions or another may seem them as positive goals, to me I see them as like they are, a Forex Mantra. A group of positive affirmations that are repeated often in order to help bring around a positive change.
How To Use?
Using a Trading Journal or Diary is completely up to you. For me, it helped a great deal and that is why I am sharing it.
Also these words or affirmations of words are words and positive notes that helped me, they were for my weaknesses in trading in the past.. So in order for you to benefit from this what you should do is sit down and work out what your faults are as well. Everyone is different in this business. Take a pen out and write what you would like to be, the opposite to the fault.
It is as simple as that, there is nothing better than beating an old habit that maybe costing you money with simple changes such as this.