Or - Have you ever been stopped out of a trade and THEN it goes in your direction? Oooo – That’s frustrating! - Have you even been up nice in the morning and then lost all of your profits and MORE by the end of the day? Have you ever had to replace your keyboard or your mouse because of built up frustration?
Hi, this is Bill Wood from Disciplined Trading Decisions, I think we have all had experiences like these and I don’t have to tell you that these types of experiences can do real damage to our trading accounts. So, what is the cause? - What am I talking about?
Well, do you find yourself
All these things can show up in our trading because of differing “psychological states” that affect the way we trade. They affect whether or not we follow our trade plan or rules. I call these poor or unwanted “states”. States of being – States like anger
Sometimes, when we get into these poor states, it might be better to get up, walk away and quit for the day.
But there may be a solution…
What is it?
What type of state do you think caused the broken mouse or keyboard? Probably anger – Pretty obvious
What type of state caused you to lose your profits? Maybe you were in some kind of "Gambler" state where you had some success and you just wanted some more action. Can you relate to that?
What state were you in when you missed out on a trade? Well, you could have just been distracted, or you could have been fearful.
Anger, fear, frustration, and agitation - these are all states we reside in at times but they are TERRIBLE for our trading results. Would you agree that being able to change your state in an instant would be useful when trading? Of course it would. Being in control is certainly what you want in your trading. How do we regain that control?
Step 1. Recognize that you are in a poor state - You are never going to change unless you recognize you need change.
Step 2. Change your state by remembering times when you were in a positive state like Certainty – Confidence – Maybe even a Competitive state. You remember being in these states by asking yourself questions. "When was the last time I was really feeling competitive?" "When was a time when I felt expectant and certain of an outcome?" ...etc.
Step 3. Experience those feeling fully in your body and anchor those feeling by making a move or a gesture or touching an area of your body or repeating a word or… all of the above at the same time!
If you would like help with this process or you would like some practice - I’ve created a video that contains a 7-Minute exercise for you to do to quickly change your state. If you get frustrated or fearful just turn on the video, do the exercise and get into a state of confidence and discipline. If you’ve had a disappointing loss or you’re afraid to pull the trigger simply go through the exercise to change your state.
So take a moment to check out my 7-Minute State Change Video and see if it doesn’t help you to change your state from a substandard, inhibiting state – To a powerful, confident state that enhances your trading.
After all, how much does it cost you when you are in need of a state change? It’s likely to cost you hundreds of dollars every time you experience that - In both losses and in missed opportunities!
How much does it cost to change your state?
Go ahead and click on the link to access your 7-Minute State Change Video right now.