Some Traders asked me how I could maintain my peace of mind while trading. I said it is not that difficult if you do what I did:
Since I am no good at predictions, I never predict, I leave it to my trading system to tell me whether to go long, short or stand aside. My trading system may not be right sometimes, but I will be more wrong most of the times if I predict. Therefore, I don’t predict!
When I don’t predict, I have no expectations; when I have no expectations, I have no emotions; when I have no emotions, I have peace of mind!
I just leave it to the market to dictate the trends and my Return on Investment (ROI), take whatever coming along. I don’t predict my ROI, only God knows!
What I need to do is to focus on pulling my trigger without fail whenever a new system signal appears, irrespective of right or wrong signal! I just maintain my peace of mind as I know the System will take care of the rest!
“Trading in the zone” By Mark Douglas really helped me out when it comes to emotional stability.
Basically, we need to come to terms that, there is no way to predict the market, and be totally fine with the risk you are taking, since the outcome is always 50/50 and all you are doing is playing a statistical edge, that may or may not work.
And we as human beings don’t like to be wrong, so this was the most difficult part for me, but i am coming to terms with it.
It’s just that sometimes you have to take a break and look at the situation from the outside, it really helps, and I also noticed that I can’t work tired…
Well! I can not imagine trading with out predictions, but if it works for you than great. Peace of mind is the main thing for trading as it gives us the clear thinking capacity needed to place trades.
Like, assume the worst, and anything else that will occur will be a surprise.
“Eat a live frog first thing in the morning and nothing worse will happen to you the rest of the day.” - Mark Twain
Yes it is very important for the traders to understand that if they will start their trading with a cool mind then they would be able to get more profits in their trades.
Trading requires a lot of patience. It is never possible to trade without patience. And if you want to trade peacefully, you need to meditate regularly. Meditation helps to keep the mind fresh.
Maintaining the peace of mind is extremely important for trading because it is all about taking the right decisions at right time and for that I suggest the traders to be at peace and confident in the trades that they plan on making.
That’s really motivating. Many times we don’t trust ourselves even when we are thinking the right, yet we lack on self confidence and that restricts us from making the right move when it should be made. Gotta be positive and keep trading.
