[This is an old post from 2015 that I’ve recycled and updated. It was originally written in its entirety on my iPhone while I was at the airport waiting for my flight. ]
For many, the key to achieving consistent profitability in the markets has to do with hard work, persistence, vision, focus, confidence, courage… but I’m here to tell that these are all by-products of something else — something much more powerful that we can all develop.
Did you ever stop and notice what goes on in your mind when trading – the kind of thoughts and feelings that arise?
To succeed as a self-employed trader, you need two very distinct skill-sets:
First, as a self-employed business owner.
Second, as a professional trader.
This is a blog post from 2016 and I’ve updated it to make it more pertinent.
Aspiring traders will often start their journey with a discretionary approach to trading, where they get to decide which trades to make and how to manage them, based on the information available at the time.
I am by no means an expert on classical music, but I enjoy it thoroughly…
In fact, every day when I wake up, my routine is exactly the same: I meditate, brew myself some nice coffee, turn on my workstation, then I load some classical music on Spotify while glancing over the news and setting myself up for the opening session.
It’s no secret. I’ve always been very honest about how I run my trading business.
What I’ve realized a few years is that no trading strategy is foolproof. Whatever you trade, drawdowns will eventually happen!
That’s just part and parcel of this business.
The meditation-and-the-brain research has been rolling in steadily for a number of years now.
Although a lot of the earlier studies were flawed and yielded unreliable results, more recent reviews have pointed out many of these flaws with the hope of guiding current research into a more fruitful path.