Learning From Tough Trading Periods When Trend Following
Learning From Tough Trading Periods:
Mental Skills Coaching
All traders go through a periods which can be very painful. Trading is never easy. There are always losing trades and draw downs!
Think about this sentence “You can learn from the last play, but the last play should not dictate what happens in the next play,” If you get stuck on a loss — or even a win — it can prevent them from performing well in the future. “You get out of the ‘suck’ by focusing forward and figuring out what you’re going to do next time to correct it,”
Success is based on these three principles -Resolve and Resilience through Painful Times
Be strong, Dig deep, and overcome
‘Fear Management’ in a Dangerous Sport
You need mental toughness because you are going to fail a lot of times along the way, and so it comes down to that point of no matter what happened at the last [performance], what am I going to do now and bouncing back from that quickly,”
Be able to reassure yourself that you are completely prepared for the moment is incredibly important.
Olympic gold medals symbolize ultimate achievements, but only one person will be at the top of the podium. Athletes who don’t win the gold are not losers. The athletes with the proper mindset have prepared for any outcome. These athletes that do not win the medals know that they have done the best they ever did and they performed. There’s some success in this fact.
Have your Sights on Following Your Trading Plan, But Not on Perfection
As Olympic athletes are gathering in Sochi, emulate them. Know that you have done absolutely everything that you can to be as prepared as possible for your trading. Let the outcomes occur.
Make sure you are in the right mental state every day to do the training that you need to do, If you do that, if you pour your heart and soul into something, then no matter what happens, you can walk away satisfied.”