Cultivating an Unshakable Character

Part 1

When it comes to performing at an elite level every time you light up your trading screens, your state of mind is of paramount importance. Few people truly believe that their state of mind is a choice and even fewer are prepared to and have the requisite skills to take full responsibility for it every day. We understand the central role that the trader’s state of mind plays in his performance and actively supports their traders in its management.

Trading can seem like a lonely pursuit at times, particularly when you are suffering from a series of poorly executed or losing trades. It is often at this point that the winning mindset is put under threat and the risk of a fast downward spiral in performance is at its greatest. With this potential outcome firmly in the conscious mind it becomes easy for a trader to panic. Trading is deadly in giving you a lot of time to think, often too much and this can increase the severity of the downward spiral if not managed correctly.

However, in addition to managing these episodes as and when they occur (the subject of future Education Posts), traders must take ownership of their state of mind before the trading day begins. Successful trading careers are built upon a foundation of consistent performance. To perform consistently you must think consistently. Individuals must make a daily commitment to themselves to implement their winning mindset. This commitment must then be reinforced every time the mouse button is clicked, irrespective of the outcome of any individual trade.

There is no direct link between the outcomes of any individual trades other than the emotional one that is constructed by the trader. A trained trader has the experience to know that losing trades are part of the process and should be regarded as, to paraphrase Jesse Livermore, paying for information. They also know that their trading skills are such that a winning sequence is just around the corner and they have complete faith in their ability i.e. they have a winning mindset. By taking each and every trade as an individual interaction with the market, traders learn to avoid irrecoverable downward spirals. It takes discipline, commitment and repeated, deliberate practice but is essential to perform at an elite level – the objective of all of our traders.

 

Part 2

-not public yet-

 

-written in english-