by We bet that you want to be safe and protected from global problems. Perhaps you would prefer to snuggle up in a cozy armchair at home and have someone by our side saying:
“You are doing great! You will succeed. You are strong and capable. The whole universe knows it and is ready to receive your special self.”
The sarcastic “haha” flies to your face every time reality hits. People can be rude, words can hurt, food can be potentially poisonous and the weather is out of your control. Above all, you are a trader. Insecurities are everywhere:
- The market is volatile and will always remain so
- You are not an expert, and the multiple graphics will make your brain boil
- The money made yesterday can become dust today.
Well, trading is not the best sphere for mental comfort. However, enough of creepy stories, the good news is that you will survive and succeed anyway. Let’s find out how.
Diagnose your problems
Let’s face it: your emotions can take over your actions. When you accept this fact, you are ready to learn how to remain calm and operate responsibly.
Here is a list of the most common psychological problems you could face. Do not rush to pay for a psychiatrist; we can help you.
Market anxiety
You have tried to operate here and there, you obtained a glorious gain and you experienced an inevitable loss. You liked the first and hated the second. However, for a while, you were fine, and you embraced reality. Then you started losing again and again. This is how you earned your performance anxiety. The fear of losses is now overwhelming and paralyzing. The feeling of an impending failure makes you sweat at a family dinner and you wake up in the middle of the night.
Relax and accept the situation
You must understand that a loss “per se” is not a threat - as you have interpreted. Avoid associating losses with strong negative emotions and replace them with positive motivation. For example, in the case of traumatic losses, spend some time researching new strategies and markets. Your curiosity will take care of fear and you will return to the market with a renewed vision and creative solutions.
Another interesting fact about failure that may not be so obvious - shows you the path to growth. By overcoming the losses and anxiety behind them, we leave the comfort zone and exceed the limits of what we are capable of. Interpret your failure not as a somersault from Niagara Falls, but rather as an exciting ride on the highest roller coaster in the world. Read more about ” How to recover losses in Forex trading
Perfectionism
The paradox of perfectionism is that we want everything to be flawless, but this goal is not accessible. Can you imagine yourself studying numerous strategies, trying to predict losses at all costs, working on a cut and still not being close to the idealistic image in your mind? If so, congratulations, you are a perfectionist. Although you can use this quality to describe yourself in a job interview, it won’t help you in real life. It will wear you out and leave you drowning in guilt.
Aim better, not maybe
Focus on the improvements, not on the things you did wrong. Identify the strength that can help you plan for the future. Stop being so critical in your inner dialogue. You would never reprimand people the way you torture yourself. Stop thinking about everything “you could have done better” and focus on constructive thoughts. Do not internalize your anger at a loss or an unsuccessful operation. Be kinder with that trader trapped inside your perfectionist mind. Your mantra maybe something like: “Ok, it was a mistake. I will review all my actions and plan how I can apply this knowledge to my future actions. You are a good trader and we will improve together!”
Overoperate
‘Try to “feel” the market, practice more!’ - You read this regularly in books and listen to it in online seminars, from market experts and from your fiance who dreams of a tour around the world that you will pay for. You are a persistent and successful partner, you can do it! Again and again, you update the screens out of boredom or because you are emotionally excited by the dreams of future wealth. After a while, you find yourself operating for this. Red eyes, tired but fighting for your future - this is how you are. The risks you run are emotional; Your actions in the markets are impulsive.
Self-discipline
It’s about having self-control and the ability to fight greed. Reduce speed, take a deep breath, visualize a great image and focus. If you still get too involved, keep a personal DO NOT do list that will stop you when you’re attracted to overwork. Imagine you can only have one vacation per year. We are quite sure that you will put all your creativity in investigating the places to visit, the most convenient ways to get there and the people who will accompany you on the trip. Now plan your trading so that it only takes 40% of your workday. Over time, you will see how financial markets will adjust to your life without taking care of it. Your operations will be more planned and effective and the strategies you apply will be innovative.
Frustration
Daily trading can bring a lot of frustration. Losses, early closing of a position, market volatility - everything adds to your boiling pot of patience. This emotion naturally affects those who are highly competitive, active and have many achievements. You will surely remember the growing sense of indignation when an obstacle appears on your way to that long-awaited result. Frustration triggers the anger that blocks all your cognitive functions, the ability to keep calm and focused. However, it does not prevent you from taking action, and you do so. Now, imagine what kind of movement you can make if you are not backed by any thoughts. You will surely be impulsive and this could have unwanted consequences.
Identify your triggers
You know yourself Take some time to look back and try to find out what events made you feel this wave of uncontrollable anger and how these situations ended. Most likely, you know the answer. The experience must have been disappointing and somewhat embarrassing. But as you know that losses, for example, irritate you and make you a little evil, then, in case they occur, remember the cost of that anger. Once you identify the trigger, you must continue to a stage of relaxation. It is difficult and requires practice, but this is how you grow. Make your mind calm, breathe and accept the situation. If you manage to do it only once, you will already feel like a winner because fighting yourself is the most challenging task of all.
Good job
It has been a whole rise and fall with your neurons and behavior patterns. We learned that trading is not for the weak. But damn, you are incredible human beings with a strong will for success and desire to improve every day. Please do not stop. Work on self-awareness inside and outside your trading. Learn to see your mistakes in the market as lessons for future profits. Turn your vulnerabilities and practice self-discipline.
We hope that our tips simplify your daily trading, calm your mind and make space to enjoy your hobbies and your personal life.
