Having the right mindset to trade
I was speaking with my neighbour the other day when she admitted that she filled her Audi with Diesel rather than gas (petrol if you like).
It wasn't until she went to pay that the cashier told her the price for 60 litres of unleaded - unleaded ?
Bang - it hit her she had just filled her car with unleaded instead of diesel. Panic.
In the end it cost her £250 ($300) in ruined fuel, call out, draining charges. Lucky for her she didn't try to start the car.
Now she had owned the car for a couple of years her husband also drove a diesel so how did this happen?
I guess she was distracted by something, not focused and almost running on auto pilot.
So why am I mentioning this?
Well the same could happen when you trade - you take your eye of the ball and wham next moment you've lost the trade or failed to maximise a winning trade because of finger trouble.
So maybe it's a good time to review your processes, have you got a bit slack? not filling in your trading log? to much clutter on your desk distracting you?
Like all professionals you must keep your eye on the game, it's important to look after yourself including:
• Take regular breaks
• Stretch or exercise regularly
• Drink lots of water
• If the day is not going so well consider switching off and come back tomorrow
There is a great book "Trading In The Zone" that will definitely help you in your trading endeavours and help you acquire a winning attitude.
Stay focused and relax, enjoy what do and do what you enjoy.