7 Proven Tips to Improve Trading Psychology

We all want ways to improve our trading results, that’s a given.  If you’re earning 3% a month you want 6%, and why not?  That’s how we improve as traders, we try and do better than last time.

Most traders are just looking in the wrong place for where to make improvements…

Externally… new strategy, new guru, new signals.

Here’s why that doesn’t work. Here’s why you need to Improve your Trading Psychology…

 

The Race Car

Ferrari wheel

Ferrari have just produced their best car ever…  they have taken excellence to a new level.  It complies with all the Formula 1 rules, its just better than every other car out there in every way.

They hired the best designers in aerodynamics, the best engineers in all required fields.  Even used the most expensive materials making it as light as a feather.

This Ferrari has the best tyres on its wheels and it uses the best fuels, lubricants and cooling fluids in the engine.

This is the best car in Ferrari’s history, it is destined to be the best car ever manufactured…

So, they get John to drive it…

John is an ex-printer who has never really found his path after being made redundant.  He eats microwave meals and lots of processed foods.  And is only ever drinking either coke or beers.  Going up a flight of stairs leaves him breathless.  He has resigned himself to this way of living because he says he is too old to change.

Can YOU see the problem…?

He probably won’t even fit in the seat let alone be able to handle the G-force around the bends.

Ferrari may have the best car, but they won’t win jack with John the ex-printer driving their car, will they?

Race car drivers are now athletes, they must be to be successful…

 

Traders

Traders need to be psychologically strong… Trading your own money is stressful. Period.

So, the most important separate part of your Trading Strategy is YOU.  If you want to be a better trader, you need to take better care of yourself.  This will enable you to handle the pressures of trading even when things may not be going totally to plan in your life…

And that my trading friends is gold.

Which leads me nicely to the title of this post “7 proven tips to improve trading psychology”

 

My Journey

These are not imagined tips.  These are not given to you lightly, they worked for me and they are working for our clients.  They work if you do

Tips of a mountain

I mean if you read them and say to yourself “that’s nice, that makes sense.”

Nothing will change for you, because you changed nothing.  A lot of people think by reading something then they know something… they don’t.

It’s like the person who offers advice about trend lines or support and resistance, but who is not making money trading trend lines or support and resistance.  They think they know about the trend lines and the support and resistance or macd, or whatever it is they think they KNOW about.  If they really knew it, they would be making money trading it, whatever IT is.

If this is you, STOP IT…

I know you are only trying to help, maybe you want to feel useful.  But you’re not helping you… You’re procrastinating, you’re doing anything other than what you should be doing.  To tell someone you know about trend lines is to say to them that you’re making money using trend lines.  If you’re not making money trading using trend lines… go practice until you do.  Then tell people about trend lines…

Only through Implementation of these tips will things change for you!

 

7 Proven Tips to Improve Trading Psychology – that you can Implement yourself

  1. Take an NLP course – Seriously worked wonders for me. NLP is the Instruction manual to the mind.  That’s why they use it so much in advertising and marketing.  Get you excited and then tell you there’s a deadline, it’s NLP, it’s psychology.  NLP shows us how people buy with emotion and then back up that decision with logic.  That’s exactly how we make most of our decisions, which of course explains why many of you are making bad trading decisions. You’re trading with your emotions and then trying to back those decisions up with logic… May work when buying new shoes, not the best way to trade however.
  2. Get a life coach – I’ve said this before and I will keep saying it until it finally sinks in. Trading is a rather large mirror of what is happening in your life.  Sort your life out and implement the other tips as well, and you will be successful.  A good life coach can help you notice any beliefs that are holding you back (limiting beliefs), they will also help to make you aware of your negative emotions and thoughts.  And if they have a trading bias they can point you in the right direction of any empowering beliefs you may wish to install to help you achieve your goals and desires.
  3. Release your baggage – there is many a trader that takes their baggage into trading. How many of you have had an argument with a partner, family member or friend and then opened up your trading console and said, “I’ll show them!”  How did it work out for you? 9 times out of 10 you will lose money.  That is taking your baggage into the market with you.  A good recommendation for this is the Sedona Method I personally found this very useful for releasing all the emotions.
  4. Create a vision board – Goal setting, but visual. Reminds you daily what you are trying to achieve which keeps you motivated and on track.  Start small and then progress as you start to see the results come in. Very Powerful.
  5. Practice Daily affirmations, declarations and or incantations –Use the affirmations, declarations and or incantations to tell yourself that you are what you want to be. This is how you can create new habits and new beliefs that are useful for you to become a successful trader… “I am an Elite Trader”, “I am a disciplined Trader”, “I am an organized Trader”, “I am a consistent Trader”, “I am a focused Trader” Keep telling your subconscious who you are and it will work 24/7 to make you right.  Another powerful resource.
  6. Learn about yourself – Here’s a quote from me… “I am never who I was yesterday…” I can say that because I make sure that I learn something new about myself every day.  Everyday not only do my cells die and get replaced with new, so do my bad habits and non-useful beliefs.  Every day I become a better person and a better trader.  So, start today!  Make notes of your strengths and weaknesses.  Get to know your beliefs, your values, and who you are deep down.  Not who you consciously think you are now, because you are not your job or your hobby.  Get to know the real you so that you can trade to your strengths.
  7. Be who you want to become – You need to remember that you are on a path. You are at the starting point “current you” working you way towards your end point “desired you”.  However, you are all trying to get to desired you as current you.  And as you will have already noticed that doesn’t work.  If desired you, is to be a successful trader?  Then you will need to be organized, disciplined, consistent and focused.  You will need to BE first, then the success will follow.  Be organized, Be disciplined, Be consistent and Be focused and then guess what?  You will Be a successful trader.

 

Or

That can be hard and expensive to do, especially if you must get separate people for each tip…

You could of course take the simpler path and join our Elite Trader Program.

I’ve taken the NLP courses so that you don’t have to, and I’ll show you everything that’s relevant to trading.  I am a life coach who regularly releases his client’s baggage with them, and I am helping them to create their goals and vision boards.  You can use my affirmations, declarations and incantations that have worked so well for me or I can guide you to create the perfect one’s for you.  Learning about your Trading Psychology is one of the hardest things to do alone.  You won’t have to, I will guide you through it, it doesn’t have to be hard.  You just need to be committed to your success.  And then you will Be who you wanted to become…

 

Don’t be me

I spent the best part of four years keep telling myself “I’m nearly there, a little more practice and I will be successful.”  Then I got myself a Trading Psychology coach and was a profitable trader within six months…

Get help, if not from us then someone else.  Find someone you can trust, get to know them, speak to them on the phone (skype, whatever).  Any psychology is hard to do and learn and practice by yourself, help speeds this process up at least ten-fold.  You know the possible rewards from trading and our course is the best priced course out there.  No further fees, a one-time payment with life time membership. Group coaching with our expert trader and of course group coaching with myself that follows weekly psychology videos.  Six months access to the Trading Room and Copy Trader because that is all you will need.

At the very least book a strategy session with me and get as much help from me as you can in 45 mins, with no pitch.  You’ve got nothing to lose and everything to gain.

I look forward to hearing from you. Scroll down my page here and book a session today.

Don’t be who you were yesterday, make the change.


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Callum McLean

Co-Founder and Trading Psychologist at Special FX Academy
Trading Psychology Coach and Certified NLP Coach. It is my belief that trading is 99% Psychological. And it is by understanding and improving your psychology, that you can be a successful trader. Success is a formula that everyone can and should learn.
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