Do you usually prepare for the upcoming session, mentally setting yourself up for trading, or you just sit down and trade?
All professional athletes and those who are simply seriously interested in a particular sport must warm up before playing or performing.. This includes practicing techniques, conversations with teammates, run, stretching, analysis of the strategy, etc..
For most traders, the warm-up consists only in the process of starting the computer..
In general, traders do not understand the importance of such warm-ups at all.. It's not their fault, as usually in the trading literature, this is practically not paid attention to. If you want to gain an advantage over lazy traders, who don't take trading seriously, a warm-up will be a good start for this.
A warm-up will help you understand, what should you work on, and monitor your own progress. Regular repetition of the learned technique will help you develop your skills and successfully apply them in trading..
I suggest warming up from 10 to 15 minutes. But if such warm-ups are something new for you, it will be difficult for you at first to force yourself to do this regularly. To get started and see the instant benefits, try the next 3 minute warm-up:
Standard 3-minute warm-up / session preparation:
- Remove all non-trade and distractions. Unplug your phone or TV, close chat or browser.
- Disassemble that, what have you been working on lately. Remember a few problematic moments of your trading, which you are working on. To do this, go over your trades., That, what do you think, you have improved lately, for example, best deal for yesterday. Think about strategy, which you use to improve the psychological aspect of trading.
- Take a few deep breaths, focus and start the session.
As mentioned above, ideally, the warm-up should last about 15 minutes. Instead of trying to do everything at once, gradually add the following steps, (choose those, That, In your opinion, most of all you need):
- Decide, what time will you trade and why. The set time makes the session more structured, and trade is stronger. Certainly, if the trade is not going well at all, or, vice versa, you are unrealistically lucky, you can amend.
- Think about your long-term goals.
- Take notes of any changes in your personal life, which somehow affect your trading. In this way, to keep you fully focused.
- Sort out your deals , filtering by indicators, which you want to improve
- Many traders watch training sessions before the sessions video. More benefit from it you get then, when you watch this video not for the first time, and he understands exactly that, what are you trying to improve in your deal. In this way, video refreshes your memory, rather than teaching you something new. Don't take time to learn new things before a session.. You gotta fix something, what are you learning at the moment, to apply it successfully while trading.
- Exercise or take a walk.
- Try meditation, Visualization, or breathing exercises.
- И т.д