Monday, September 13, 2010

Maintain State of Mind in Slow Markets ??

Trader QuestHow do I remain in a state of mind where the market action seems to slow down, not speed past me where I am continually missing trades?

Plot Course ~ This frame of reference can happen for one of two reasons. First you are not getting enough trading repetitions or secondly, you are in some sort of slump; mentally burdened or emotionally off kilter. The cure lies in the quest for consistency. The more consistent you are at placing trades on each of your strategy’s signals, the more you will find that you are anticipating that next signal beginning to form.

Ride Wave ~ "That’s great" you may be saying, "I know I need to be more consistent, so does every other trader." Right, but perhaps you are experiencing some hesitancy that has morphed into anxiety and now you’re seeing set-ups late. By simplifying your trading down to its most basic components, by removing excess charts and indicators of the month, by turning off financial news feeds, you will remove the stream of distracting noise and allow yourself to “see” in real time, on one or two key charts, your trade set-ups developing right in front of you.

~ Keep Curious, Coach Mark

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