Thursday, June 25, 2020

The Key To Becoming Your Own Trading Coach

There are many techniques in psychology that can help us overcome negative emotions and thought patterns, and also ones that help us build positive patterns.  The Three Minute Trading Coach series of short videos is an introduction to these techniques.  Each video focuses on a different exercise that can help you improve the consistency of your trading by working on the consistency of your mindset.

There is a secret to making each of these methods work:  practice.  Most of our negative patterns have been with us long enough that they have become habits.  To break a habit pattern, we need to work at recognizing what triggers it, work on interrupting it, and work on replacing the old habit pattern with a new, positive one.  The goal is to create new ways of thinking, feeling, and acting that are so well rehearsed that they become a natural part of us.  That takes daily (and sometimes more than daily) practice.

A rule I've found helpful is to rehearse these techniques religiously for 90 days and they will become a natural part of you.  If you want consistency of trading mindset and consistency of trading, you need to work on those things consistently.  Once you do that, you don't need to hire an expensive professional.  You've become your own best trading coach.