Once I heard an address by Rebecca fine of www.scienceofgettingrich.net that says something along the lines: "If this is what you are going is not something that you want to have happen in the next three minutes… get rid of the thought and think something else."

While This is a great way to live your entire life, and I certainly try to do so, it is equally true of the trade process, namely ensuring that we continue to focus in the course of our analysis.

Maintaining attention can be difficult. Not only will you face distract from external sources, such as phone calls right on the main installation, or your partner requests Company Lightbulb be changed, or your children asking for help with their homework, but at the same time faced with internal divert from your negative fear-based trading mentality. These internal altogether may be less apparent to the novice trader, but the results can be devastating to your profitability.

If you have not yet mastered the negative fear-based trading psychology, you'll never encounter ending divert that divert attention from your work at hand - consistent implementation of your trading plan.

Regardless of how these fears are reflected in your trading - complacency, boredom, doubt, delay, denial - they will only inconsistent and unprofessional Use your trading plan. And this can not lead to a coherent long term profits.


How do we deal with this negative fear-based trading psychology? Well, if that can not be solved in one article. I am currently working at home full training programme to develop trade psychology, which will give you the tools, strategies and methods to overcome these problems.

But at the same time the statement from Ms. Fine gives you a very simple tool to add to your trading tools, to ensure that you maintain your account in the analysis, despite any internal or external distractions.

The procedure is similar for both long term and short-term traders traders. But let's talk short term, firstly, because first of all what I do.

On the day trader, your success comes from the consistent application of your trading plan. Success comes from the analysis on a regular basis throughout the trading session, either at the end of each candle or at a price alert, as the price reaches a certain specified level, and then acting accordingly on entry, exit or manage your trade.

What should be done to make sure that you focus remains on the trading process?

This is what I do:

1. Document analysis and decision-making. Have a clearly defined action steps that need to comply with all candles reach your decision to hold entry, exit, or change it to stop the loss or profit targets.

2. Installing alarm go off the front of each candle. If I compromise 5-minute schedules, I have the alarm go off the 30 seconds before the end of each candle to let me stop and check my thoughts. If my thoughts are not affiliated with the objective analysis of the market and correct implementation of my plan, they are discarded. My attention then returned to the process of trade documents.

This works regardless of timing. If I were to leave one hour trading schedules, I would set the alarm to activate shortly before the end of each hour candle. If I were to leave one minute trading cards, I would still set to disable alarm shortly before the end of each hour candle. If I was just waiting for the price of installing particular price level, and had no intention to trade until the price hit that level, I simply set for signalling that the price goal defeat.

Set alarm for periods ranging from 15 minutes upwards, of course, big ideas, as you would not necessarily watch the screen every time meetings between the candles. However, you might ask whether it really necessary for very short periods, such as one minute showdown. The fact is that it is needed, and it does work. It is amazing how often I find my mind, wandering elsewhere. Most often, this way of thinking about something not related to my trading plan. Concerns interrupt this thought pattern, and allows the return of thought and focus on what is important.

Try, and if you find yourself suddenly interested in what MACD shows, and this is not part of your plan to abandon the idea - this is irrelevant to this trade. If you find yourself suddenly in mind that you need to win this next trade to return to breakeven, remove that thought - this is irrelevant to this trade. If you find yourself wondering where you should go next holidays, to abandon the thought. Again, this is irrelevant. Cancel any unwanted thought, and think something else that will help you trade in your plan under way.

Oh, and so that you do not burn through with alarm disconnect every minute for eight hours trading session, adding, step 3:

3. If you are trading in very short order, the program breaks during the session, to withdraw from markets. Relax, recharge and refresh themselves, so you can keep up this pace.

For long-term traders, say, someone Trade leave daily schedules, the same problem. In your case, you have a process that must be followed to come up with your decision to join trade, commerce solution, or change direction or stop levels.

In this case, you must perform one step, documented actions, steps that allow consistent application of the tariff plan. Consider something like a checklist or flowchart.

You can probably do without anxiety, because you only need to complete the process once. But in the long term traders, I recommend including the statements in your documentation; would remind you to check their thoughts, and return them to the trading process.

Perhaps prefix each step with a reminder of the documents, such as: "I am a professional trader, as well as professional trader plans to sell its serial nature." Then began to operate each step of your analysis of the night, will serve as an unwanted interruption of normal thought, and return your focus on the work at hand.

Thus, there is no need to go and checking other indicators for further confirmation, when it is not part of your plan. There would not need to check other news sources further justification for your decision when it is not part of your plan. They do not need to be by e-mail or phone their friends that they thoughts on particular shares or chart when it is not included in your documented process. These people who have lost focus, and whose fate trade is currently president of their fear and greed.

As a professional trader, you simply follow your steps. And use your anxiety, or documented list of steps to stop any unwanted thoughts, and return your focus on business trade.

So if you do not have control or a flowchart for all actions to be performed during your analysis, then create one. And a place in it a reminder of the need to monitor their thoughts, and to reject everything that is not relevant to the current task.

And if you day trade, creating a sound signal, either on the basis of price, if you simply wait to hit certain price levels prior to the adoption of trading solutions, or timer, if your decisions are based on time. Then reject any thoughts that are not related to the process of trade. And follow your plan with consistency.