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Trading Enhancements – Meditation

As a professional trader, I try to enhance my trading on a daily basis. Learning how to trade is an ongoing process - a process that never stops. Those who know me or who have traded with me know that I am always looking for a simple and straightforward approach to trading. Yes, of course I am testing indicators, new chart patterns, new charting techniques, and anything else that is showing up on my desktop. But I have noticed that the main issue in trading is still “me”. The psychological aspect of trading is usually underestimated, especially by new traders.

During the next couple of weeks, I will present some ways of how I enhanced my own trading. Maybe you will like some or all of these ideas, and feel free to use them for yourself.

Meditation

Richard Wyckhoff wrote in his book Studies in Tape Reading: The tape reader evolves himself into an automaton which takes note of a situation, weighs it, decides upon a course, and gives an order. There is no quickening of the pulse, no nervousness, no hopes, no fears. The result produces neither elation nor depression. There is equanimity before, during, and after the trade.

It is crucial for a trader to be in a healthy state of mind during the trading session. I can tell you, it is not easy to stay at this high performance level all the time, especially after a few losing trades in a row. Meditation can help, and every trader should consider a meditation session on a daily basis. I am not talking about any religious meditation - I am talking about straightforward meditation to calm the mind.

Give it a try, and you will be surprised about how positively it will affect your trading!

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Thursday, 19 October 2017

Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results. For more information, see the Risk Disclosure Statement for Futures and Options.