What mind do you bring to your trading day?
Can you be specific about describing that mind?
Have you intentionally organized your mind for the performance of trading centered in patient discipline?
Is this carefully prepared mind rehearsed BEFORE you start your trade day so that you are emotionally and mentally fit for the rigors of the trade day?
Or is preparing the mind for the performance of trading more of a hit and miss situation?
And if you do bring an intentional mind to start your trading day, what happens to it once you begin your trading day?
What is your plan to prepare the mind so that you maintain excellence of execution?
Preparing the mind for the trade day is not a sprint where there is initially concentrated effort for a short duration. Rather, it is a marathon where the runner has to take stock of his faculties at various points in the race and manage them for the duration of a long race.
As much as traders hear about how important emotional and mental attitude is in the performance of trading, very few traders actually manage the mind that trades as they move through the process of a trade. In the 7 Pillars Of Success, a considerable amount of energy and training goes into preparing the mind for the trading day BEFORE the day starts!
This becomes the foundation from which the trader learns to manage the mind WHILE he is in the process of trading.
In order to achieve a calm, disciplined impartial mind from which to trade (the Traders State of Mind), a trader must be vigilant. This aspect of the management of the mind is focused on getting the brain and the mind ready to trade.
Typically, preparation for the trading day begins the night before. And preparing the mind continues when the trader wakes up and before he gets out of bed.
Then, always, a period of time is devoted to mental preparation and rehearsal that includes a prayer/meditation/centering period where the trader tunes his mind into the peak performance organization of self that is suitable for trading.
It is here that the trader can systematically construct a mind rooted in calm, disciplined impartiality.
With his mind now calm and ready for trading, the trader starts his day.
The earlier preparation readies the trader for the trading day so that he/she is fit to trade from a state of mind grounded in calm, disciplined authority.
However, this is not enough. This calm, disciplined authority has to be maintained through the cycle of a trade.