How Daily Meditations Will Improve Your Trading
by Colibri Trader, www.colibritrader.com
(London, United Kingdom)
How Daily Meditation Will Improve Your Trading…
So, how daily meditation will improve your trading? You might think I am crazy, but it has been proven that daily meditation (especially in the morning hours) will significantly improve your productivity. This technique could be used not only in trading, but in life, as well. Meditation techniques do vary greatly, but in the end they are meant to improve your concentration and effectiveness.
How daily meditations will improve your trading
What I do every morning before the market opens (think 5:30 am): 5:25– I wake up (after having snoozed the alarm clock multiple times)
5:30– I take a cold shower (this helps me wake up faster and be more efficient for the rest of the day)
5:45– I make breakfast (but only take it after I have finished my morning green tea)
5:55– I do write in my morning journal what I want to accomplish this day while drinking my green tea
6:15– Finally take my breakfast while quickly reading the major news from around the world
6:45– I am getting ready for the European Trading Session
So, how daily meditations will improve your trading? There is no magic in doing this “writing” exercise in the morning. Research has proven that when you are writing (especially in the early hours), it does improve your cognitive powers. Across three experiments in 2013, researchers compared the effectiveness of students taking longhand notes vs. typing onto laptops. Their conclusion: the relative slowness of writing by hand demands heavier “mental lifting”, forcing students to summarize rather than to quote verbatim – in turn tending to increase conceptual understanding, application and retention.
I have proven this to myself by writing articles in my blog. Every time I don’t have much time I do tend to type directly onto my laptop. The times I do find some extra time, I always prefer to write an article by hand and then just give it to someone else to re-type it on the laptop. I have made an experiment myself and found that the articles I did write by hand attracted the biggest amount of readers. Confirming or not the experiment, writing by hand has enabled me to achieve better results in trading, as well. Let's take action 2016.
So, how daily meditations will improve your trading? Let me now try to compile a list of the things you can start writing about (if you are not sure from where to start). You can always start by leaving a comment under this post and outlining your goals/desires for 2016. In this way, you will make sure that you have started and the traces are online on colibritrader.com
Otherwise, have a look at the list below (compiled with the help of David Schwartz and his Magic of Thinking Big) for inspiration:
Technical analysis explained
1) Get a clear fix on where you want to go. Create an image of yourself 10 years from now.
2) Write out your 10-year plan. Your life is too important to be left to chance. Put down on paper what you want to accomplish in your work, your home, and your social departments.
3) Surrender yourself to your desires. Set goals to get more energy. Set goals to get things done. Set goals and discover the real enjoyment of living.
4) Let your major goal be your automatic pilot. When you let your goal absorb you, you will find yourself making the right decisions to reach your goal.
5) Achieve your goal one step at a time. Regard each task you perform, regardless of how small it may seem, as a step toward your goal.
6) Build 30-day goals. Day-by-day effort pays off.
7) Take detours in stride. A detour simply means another route. It should never mean surrendering the goal.
8) Invest in yourself. Purchase those things that build mental power and efficiency. Invest in education. Invest in idea starters.
So, how daily meditations will improve your trading? In the end- it is important to be consistent in everything you do! You need to be well organized from early morning! You need to write down everything you want to accomplish this day. Once you get the habit of doing so, you will see how much more you can accomplish. You will start reaching heights in your trading and your life that you never expected you would have. You will be living in the world that you create for yourself. You will start “creating” your own luck. You will realize in a short time how daily meditations will improve your trading; they would already be part of your winning strategy!
30 DAYS CHALLENGE
A lot of the new traders are concentrating too much on trading strategy. They never spend time analyzing their own personalities and habits. I believe that, this is the place where you should be placing a lot more emphasis. In the end - the biggest enemy is not the stock (forex) market, but one’s own self. The more time I spend speaking to other successful traders, the more I come to realize that in the end, they are doing the same thing. It is a combination of factors that are contributing to our success. One of the major ones are the daily meditations each one of us applies. The best way to see the results is to try it. I challenge my followers to do this in the next 30 days. Try employing this technique and compare the results with your past record. Develop the habit of writing down your goals and what you wish to achieve. Take action in 2016 - invest in education and always strive for excellence! Become a better trader!