Coaches Corner - Managing Overwhelm | Episode #5
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In the 80's we all learned the importance of Focus from Mr. Miyagi. He had unusual methods for teaching Daniel-san. From wax on - wax off, to standing in the ocean, to Bonsai trees...
Close eye.
Trust.
Concentrate.
Think only tree.
Make a perfect picture down to last pine needle.
Wipe your mind clean…everything but tree.
Nothing exist whole world…only tree.
You got it? Open eye.
Remember picture?
(Daniel: Yeah.)
Make correct picture.
Can we apply that to our Emini Futures Trading ? I believe we can.
Remember those early video games? Nothing fancy, just you - a spaceship - and a few hundred aliens trying to take you out. What was the primary goal? The secondary goal? Once you were skilled enough to get your initials on the screen, how did those goals shift? Once you knew you were "good" at it, the way you played the game changed, didn't it? That change eventually came back to haunt you. If you stuck around long enough, you went through several iterations until you became a consistent high scoring player.
Electronic trading in Emini Futures is not much different than those early video games. The similarities are almost eerie. The biggest difference is you are no longer playing for digital creds, you're now playing for the mortgage, college tuition for 2.5 kids and your own retirement. The stakes are high and most of your friends think you are too. Am I right?
Routines or rituals can help prepare a trader for their trading day by establishing a set of things to do in a specific order. This topic can also help to "set–in" a traders discipline and we all know how important that is towards our overall success.
All those that I have seen trading at the high end, have trading routines that allow them to prepare for their day, be ready when the market opens and keep them mental prepared for whatever the market throws at them.
Those that develop a Trader's Checklist, seem to have an easier time of things, maintain better control and lose less, because of their preparedness. Some even start the night before with the over night sessions. After all, we are now global traders... much different from just 10 years ago.
Coaches Corner Episode #1
Tune in every Friday @ 3PM Eastern for the Coaches Corner
with world renowned Trading Coach -
Ms. Robin Dayne
While travelling by plane, Cassius Clay (Muhammad Ali) was once told by a stewardess to put on his seatbelt. He retorted, “Superman don’t need no seatbelt!” to which the stewardess said, “and Superman don’t need no airplane! Put on your seatbelt please.”
Every successful trader has at one time or another, in his or her trading career, experienced a trading “blow-up”. Some survive to trade another day, and many become another statistic. This is a topic not to be missed by anyone who wants to trade for a living and succeed. Why? Because, it’s not if a blow-up will happen, but when.
If you haven’t blown up an account yet, we will cover an understanding of the warning signs to help avoid or at least minimize the financial loss. If you have experienced a blow-up, knowing how to re-group and get back in the game without residual emotional challenges will also be beneficial to your future successes.