Head Games

This week we're going to try and get into our heads a little bit. Anybody doubt that psychology plays a huge role while working in the markets? Didn't think so. Well the same applies when striving for results in the gym, the ball field, the course, whatever.

We are all governed by beliefs and habits to some extent. I love soccer, but I generally don't think I'm MLS material. Most golfers would never dream of playing like Tiger. And most traders wouldn't put themselves in the same league as Steve Cohen. Why? This limits us and will ensure that we DO NOT attain these lofty goals.

Great traders, like great athletes, have many common traits; knowledge, skill, and rationality. Think these are inborn or unattainable? Hardly.

Knowledge: Look at how many books on how to trade there are out there. I mean the ones written by actual pros. How much software exists to help you test your trading ideas, calculate your profit and loss, give you Buy and Sell signals, and so much more?

Skill: We all have the capacity to hone our skills through practice. Sure Tiger had some innate talent when it came to hitting a golf ball. But do you think that man doesn't practice constantly, even now at the top of his game. You've got money in the market. You pay attention every day. You have the tools at your disposal in an ocean of information. Use it.

Rationality: All humans are rational beings to some degree. Ultmately it comes down to defeating anxiety and self doubt by using our conscious, rational minds to redesign ourselves physically, mentally and emotionally to train and trade successfully.

There are some terrific books out there to help get into this mindset . All week I'll be sharing some of these ideas along with where to get some of these publications as well. Two of the very best are Trading in the Zone and Trading to Win by Dr. Ari Kiev.

Most of my attention will be on using these ideas in your fitness training to keep a sound body and mind to better enable you to focus on trading.

Until next time. Believe you can. Set goals to get there. Enjoy the ride.