Open an account with AMP Futures

Turning Traders Into Professionals

06/09/15
I've been trading for 5 years and in that time I've already traded through about 3 major crashes. Sadly this is the new normal and we better get used to it.

When trading through potentially tough times, mental discipline becomes even more important. It's very difficult to see all these pips and ticks going up and down in front of us and not pull the trigger.

However, we really need to try and stay focused and only trade our setups. Look for a base on lower timeframes, such as 30 min and 15 min. If it's later in the day, check your market profile for most likely day type development. Ask yourself how far in or out of balance the market is. Compare that information with your possible consolidating levels, also created that day. And then when you see an opportunity that resembles your trading plan, make sure you do take it. If it works it works, if not, leave it alone and go do some exercise.

We are all human and I've also had some discipline slips, which is why I wanted to remind everyone to do whatever they can in order to stay away from gung-ho trading. Whenever I decide to trade without first visiting the gym and beating the ego out of me, I trade like an idiot. I'm not afraid to admit that. Impulse control comes easier to some than others. I am one of those others - I need strict rules, a tough exercise regime involving a lot of weight lifting, followed by creating a zen atmosphere in my trading space. I try to meditate as often as possible, because meditation slows down our alpha waves and make us relax, giving access to our rational brain, creativity and executive decision-making. Otherwise as a Mediterranean girl, I am way too impulsive and not risk averse enough to sit on my hands. But always remember - markets have been around for over 100 years and they'll still be around 100 years from now. So just wait another day to pull the trigger, there will be other opportunities.

Trade well.