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The Mental Game

This is a whole area I have not really focused on until recently. I have taken classes at OTA and read a book but not really implemented in my trading.

However, recently I have started exploring in more detail the “Mental Game” to help improve my trading performance. I have a lot of issue with sticking to my trade plan and moving stops and I understand psychological issues really do affect a lot of traders. I got a lot of help from a great specialist Doctor Woodruff Johnson, I suggest you read his book “from pain to profit” and he will work with you directly for a fee.

He has taught me some great tools to help me be a more consistent trader and to help me avoid bad habits and negative patterns. So far there is no doubt that this work and investment has changed my approach and improved my overall performance.

I am pretty sure the mental side will affect you so take this very seriously.

For example, on particular area I have a bit weakness is that I have learnt that if I am tired or not focused I do not trade well and get emotional and it normally ends up being a bad trade so I have learned to take my “Emotional Thermometer” as Doctor Woody calls it and each day before I start trading I ask myself:

  • How do I feel overall?
  • What are my emotions?
  • What is happening in my environment?
  • Am I tired or feeling unwell?

Am I ready to Trade?