Mastering Self - Motivation
In my ebook “ The Way To Trade Forex” and also in my Forex Mentoring I often say that you could have a superb strategy or even a good entry, but if you are unable to master yourself, you are unlikely to succeed in trading.
Emotion free trading means you have to have to be in a right state of mind, calm, focussed and totally motivated, which will greatly help you in your trading.
To truly become a master trader, action is required. As Shakespeare said, “Action is eloquence”. You cannot have a goal without an action plan. Action is needed in any areas of your life, more so in Forex Trading.
So how can you motivate yourself? Though there are probably hundred’s of way to motivate yourself, for today I will go through 5 ways how you can achieve motivation.
1.) Have a Vision
Creating a Vision can be very motivational tool. You must ask yourself, what is my preferred future? You have to create a vision of what you want to be, and you have to live into that picture, as if it were already true. By creating a vision, it will identify a direction and purpose, and it will promote a laser like focus, which in turn will build confidence. What better way to motivate you?
2.) Step outside your comfort zone.
90% of traders lose money, so have you ever wondered what sets a master trader apart from the amateur trader? It is their determination, countless hours of learning, improving their skills and having a drive to succeed. You have to challenge yourself, only challenge causes growth, only challenge will test our skills and make us better traders.
Each and every one of us can and should strive to extend past our comfort zones to achieve personal success in life. To succeed we have to extend ourselves a little further. Go on! Give that comfort zone a nudge.
3.) Leave your negative friends – Always be in a positive frame of mind
Politely walk away from “friends” who don’t support your goals. If you associate with negative people than they will pull you down. Never indulge in negative gossip, because it will drain your energy and stifle your own optimism. Cynics and negative people do not create. I come across many traders’ who will always look at the pull you down too. So stay away from such friends.
Enthusiasm for life is contagious; being in a positive frame of mind will greatly assist in your trading. So hang around with traders who are positive, focussed and successful
4.) Plan
One of my golden trading rules is planning. In trading this has no equal. One hour of planning and doing homework will save you lot of money by not pulling the trigger on a losing trade. Most traders don’t take that precious hour to plan, because we all want to rush into a trade; don’t want to “ miss” the trade. We don’t understand that this one-hour spent in planning will be the most productive hour.
Successfully planned trade will motivate you, and will certainly increase your bottom line.
5.) Relax – Sit there and do nothing!
A relaxed mind will think well. For some traders, who like to work non-stop, doing nothing can actually be pretty difficult. You should always set aside some free time to do nothing, this can actually be healthy for your mind, body, and emotional life, especially if you find that you’re really wearing yourself down.
Completely relax and don’t allow television or music to distract you. Feel your sense of belonging to silence. Sitting in silence gives your most perceptive side a chance to speak to you. It allows your true dream in life to take shape and clarity. This is a kind of meditation to empty the mind and if you can achieve this for some time, than you will achieve levels of tranquillity and serenity that is difficult to achieve any other way. The person’s mental and emotional as well as physical health is likely to improve with that kind of meditation practice.
This in turn can only improve your trading.
Article source : http://www.actionforex.com/
