Clear Your Mind To Prepare For Your Day Of Trading
It seems we may be up for a bumpy road ahead in trading. We have been saying this for over a year now that the market is volatile and acting like a toddler. This makes the market a scary place indeed. When the market is throwing temper tantrums, it is acting irrationally and we have a harder time deciphering the next move. But we are in it and we need to make it work so how is this possible? Everyone has their own strategy and we are not here today to discuss trading news or predictions but rather we are here to talk about how to be rational in the market. When they go low, we go high! So when the market is trading crazy, we must approach it with the calm and patience of a Buddhist monk. But how can we do that when it is our money in there? The answer is through mindfulness and meditation. Giving yourself a clear mind will make you able to approach the markets with skill instead of emotion.
How can you do this, you ask? By following a simple meditation before you make any trade, or even before you open your portfolio each day. For this meditation, you simply need a quiet space. Find your space and sit comfortably, however that is for you. Once you are there and comfortable, bring your focus on your breath. Feel your lungs fill to the max of air then slowly release it. With each breath feel how your body reacts. First feel your head, then your neck, chest, appendages, see how each breath makes these parts of your body feel. Note any places of stress or discomfort and shift your body to give these places ease. If the pain is deeper, focus on the pain and give yourself several breaths, visualizing the pain leaving your body with your exhale. Now we are ready to begin.
Remind yourself what your trading plan is, what your entry and exit points are and where your limits are. This is your plan, and this is all that matters. All that is required of you is to follow this plan you set for yourself. Picture yourself as a soldier sitting, being told your instruction by your superior officer. Your superior does not want to come up with new ideas or strategies. When things happen he wants you to react as you were trained. Know that this is your only goal. If things start to fall apart, remember your plan.
What are you hoping for when you open your portfolio today? What are you afraid of? Give yourself a moment with each of these questions. Visualize yourself seeing your best dream and worst nightmare, how do you react? See yourself reacting emotionally but doing nothing to trade. See yourself breathing in and out and recalling your plan. See your body relax, your shoulders drop as you execute your plan. Know that this is the right decision. Things may get better or worse after this moment, but you followed your plan and that is what you are supposed to do. That is all you are supposed to do. Spend as much time here as you need playing the scenarios you are concerned with in your mind and each time see yourself composing your emotions and making the right decision.
Bring yourself back to this moment when you are ready. Give yourself several more breaths and you are back in your space ready to start your day. Today is going to be a good day no matter what. No matter what the markets do, know that it is nothing personal. The markets react as they do without any concern for your feelings because there is nothing personal in trading, so do not allow yourself to get emotionally involved in your trades. You are here now at the start of a good day and nothing can change that. Remember your plan, breathe in and out and open your eyes. You are now ready to start your day of trading. Have any questions or comments? Reach out to us at info@bullionite.com.