Trader Mindset and Affirmation: Key to excellence

Posted on 29. Nov, 2011 by in Boomerang Currency Trader, Boomerang Scalp Trader

The most important element in trading after you purchase Boomerang Currency Trader  is learning  what I call “Trader Mindset and Affirmation”.

So many traders try and blow off trading psychology when I recommend an absolute immersion in the study.  This surprises me as they will hang on everything I say about chart patterns, indicators and entries but tend to avoid or ignore when I tell them that ..UNDERSTANDING TRADING MINDSET AND AFFIRMATION IS THE MOST IMPORTANT PART OF TRADING.

To this day I cannot figure out why traders avoid learning proper trading mindset.  It’s some strange form of  their perceived  “ego protection” it appears which frankly makes no sense at all.  Avoiding this aspect of trading is going to make the trading process more difficult and cost you a lot of lost money.

Trading mindset  is what occurs AFTER you click on the mouse and enter a Buy or Sell order.  You may know the correct chart patterns and understand the fundamentals of trading but as soon as an order is entered a whole new set of changes occur.

Strong faith in the proven Boomerang Currency Trader methods is essential along with correct mind set and self talk when the trade is in motion.   How could it be otherwise?

Many times traders will lose all good sense they gained from observing winning chart patterns and clear rules such as the ones used in Boomerang Currency Trader after a trade is entered.

Amateur or inexperienced traders  may begin to start talking or even screaming at the computer screen….”C’Mon baby, hit that price I want, let’s go let’s go  “and other such ridiculous self talk.   Isn’t this a bit neurotic to yell at a screen? The screen definitely cannot hear you at all.

I recommend traders learn my Magic 7 Internal and External Affirmations and repeat these before during and after trading to stay focused on what is real.  Below are the Magic 7 which I wrote in 2003 when I was primarily trading the Emini S&P500 contract.  Certainly they apply to any trading vehicle.

Traders’ Affirmations

The Magic 7 External

is nothing wrong with taking a day off from trading if I’m not centered and feeling good.
ign=”top”>I keep exact track of all my trades, including profits and losses. I also keep a journal of my thoughts, such as why I did a particular trade and what happened during the trade both in the markets and in my head. In this way I track my skill development as a trader, as well as my mental development.

THE GREAT NEWS! Is that I have even made it easier and more exciting to use and learn my Magic 7 External and Internal affirmations with my new Video.  This video is shot in the remote jungles of Kauai, Hawaii  with dramatic scenes and beautiful inspiring music.

Let your mind and heart soar as you learn these affirmations while watching this video. Play it before and during the time you are trading to stay on course. Replace neurotic and desperate self talk with these affirmations of positive expectancy.

http://www.daytradersaction.com/affirmations.html

Just click on play and then click on the video to enlarge…..turn up your volume to hear the beatiful soundscape

 

Also try these to replace old self talk:

“Ive entered a trade now exactly according to the Boomerang Currency Trader rules”

“The system produces a high percentage of winners so I will stick with the system and not let my emotions shake me out of the trade with the price movements”

“I know where my stop is and I know I can jump out if any changes in the indicators or chart patterns occur….I am relaxed with the trade I have on”

………………………

Now for the next  important aspect of your Trading Mindset and Affirmation study.

I want you to just read and study this one book with yellow pad and pen in hand along with a yellow marker to note key elements in the study. Once you finish studying the book, taking notes and begin practicing what is in the book…..Continue to study this book for the rest of your trading career.

Read:   Market Douglas “Trading in the Zone”       (go to Amazon.com and purchase as soon as possible)

This is an essential ingredient of trading for all purchasers of my Boomerang Currency Trader and Scalp Trader.  You will understand after you start reading it.  It is the only book on trading psychology you will need to read. Study it EVERYDAY with all your notes for the rest of your trading career.  Please do not put this off.

I met Mark when I was first learning to trade. I flew all the way to Chicago to meet him.   He was brilliant way back then in 1988 and I learned  so much. His girlfriend at that time graciously took me on a tour of the exchange trading floors.  Later in 2004 I was honored when he joined me at a jam packed trading seminar I did in Boca Raton, Florida with over 300 traders in attendance and over a dozen floor traders.  Of course, he enlightened the audience with the evolved methods described in his books.

Trading and mathematics has a long history going back to ancient times.  I have put together a short educational video for you to watch on the subject  on  the amazing commitment and brilliance that has gone into trading the markets by our trading founders. I hope you like it.

http://www.youtube.com/watch?v=KaBTNUaTS0U&feature=related

Always feel free to email me with any questions on trading.    Mohan@BoomerangTrader.com

 

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