This is an extremely short and straight to the point guide to becoming an emotionally stable trader.
I won’t bore you with the same old platitudes – control your risk, don’t overtrade, follow your plan…
Those are all very VERY important. But you all know that, right?
Ok, great… What else is new?
It’s amazing to see how little control people tend to have over their minds and especially their attention.
It’s also interesting to see how little they know of the processes that shape their behavior in the outside world.
So, I wrote this short guide for one reason: To encourage you to develop a daily sitting meditation practice.
1. Sitting quietly is the basis for living a wise and happy life
It can teach you many ways to accept life, see the markets as it is, meet pain, and walk without regret…
Sit anywhere and be quiet. Anything will do – a cushion, a bench, couch, chair, inside, outside, by the sea, against a tree…
Sit whenever you can: morning, night… anytime.
Loosen your waist so your belly can move unrestricted/freely with your breath.
Sit with your back straight. Not stiff. Keep your head upright.
All postures are okay but respect any medical conditions you might have. Do what you can do.
Find a point of focus. Your breath is usually a good place to start.
Breathe naturally through your nose. Pay strategic awareness to the sensations of breathing. Where do you feel it the most? Place your entire focus there.
Be like a purring cat. Follow your breath as it goes in and out.
When you get distracted by thoughts, emotions, sights, sounds, sensations, come back to the simplest and most basic experience of being alive, your breathing.
That’s it. No belief. No dogma. You can be of any faith, race, nationality, gender…
20 minutes a day. More if you can. Just sit quietly, connect with your breath, and pay attention to what happens.
If you do it daily, it will get into your bones. You will learn things about yourself. Certain truths about reality will appear to you. You will lead a more peaceful existence.
2. Every moment of every day, try to be more aware of your body
In every part of the body, there are sensations arising and passing at all times, in every moment. When you become aware of that, you begin to see the deep connection between these sensations and what’s happening in your mind.
We think we react to events in the outside world, to memories, thoughts of future, etc., but in fact, in each and every moment, we are constantly reacting to sensations within our body.
Everything that people do, from fidgeting in their chair to removing a stop-loss, to starting a world war, people are actually reacting to sensations in their body.
So pay attention. When you feel like doing something, or more simply when you realize that you’ve been lost in a thought, observe the sensations in your body. How does it feel? Observe your mind. What is it saying?
The consequences of you not knowing that you’re always reacting to bodily sensations is the very reason why you’re not seeing any alternatives to your problem behaviors in the markets.
3. Accept your thoughts and feelings
Thoughts are often distortions of reality. What’s more, they’re impersonal conditional appearances in consciousness. They are not you. Yet you believe them to be.
So learn to see them as they are. Some thoughts are clear. Some are muddy. But whatever they are, they’re always passing.
Learn not to hold on. Rather enjoy watching them come and go.
Let thoughts come and go. Just don’t serve them tea. – Shunryu Suzuki
Simple, not easy…
That’s it. How To Become An Emotionally Stable Trader in 3 simple steps.
Now, I grant it to you, simple isn’t always easy. The good news is that I address that in detail in The Trading Psychology Mastery Course.
If you think you might want to give it a try, check out the promotion below.