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Chapter 29, Part IV. Daily Routine and Disaster Plan. Page 8

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 27, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Mental preparation continued


    With some experience you will start to better understand the limit of your mental strength – when it’s better to stop and take a rest, and when time to return back comes. There are a lot of books on this topic, still, here are some points that probably will help you initially:

    - Have you rested sufficiently – sleep well, and so on;

    - Are some circumstances that press on you psychologically – positive as wedding eve, a new baby, or negative - family problems, some others that we’ve discussed that increase your stress?

    - Have you made pre-session preparation?

    - Hope you are not hung over after a party or wedding, because you need clear mind to trade; AsstModerator Note: Sive, are you spying on me?

    - Think about the potential loss that you can get today. Are you ready to accept it? If you are not sure or this presses on you and disturbs you – then probably it is better to not trade today.

    And finally, we have to struggle against stress and total consumption of our time by trading process. Here we could apply some physical issues:

    - You should have a sufficient rest. It’s better to have stable daily schedule – when to go sleep and when to wake up – “early to bed and early to rise…”;

    - It’s better to have a balanced diet. I hope you can pay it from your profit;

    - Gym. I do not expect you to become a second Arnold S., but some exercises like running, Pilates, or cycling are welcome; "The best activities for your health are pumping and humping." - Arnold Schwarzenegger

    - Spend some time each day away from trading – at least 2-3 hours, if you trade on full-day basis. This could be anything on open air – playing with children, walk or car repairing. You have to give your love to your family, or may be you love trading more?



    - Reduce distractions – you have to be focused on the process. If your mommy calls you when you have your finder hanging ove the buy button in your 5-min trade – switch off the phone. Estimate an acceptable distraction level that you may deal with – and cut out all the others.

    Sometimes, when you can get a vacation and being stepped out from your routine – you may feel that you’ve lost your connection and feeling of the market and be disoriented. That’s why it’s recommended not to trade large or common lots right after a solid pause. When you will return to your routine, it will give you psychological comfort and you feel ready for trading.
     
    #1 Sive Morten, Dec 27, 2013
    Lasted edited by : Oct 9, 2016
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