Multi-million dollar trade thoughts are shared during this segment of Episode 26 of the Trading Performance sessions. What are YOUR thoughts in the middle of a multi-million dollar trade? Find out my recommendations from over a decade of experience coaching traders.
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The thoughts someone should be thinking should be very, very similar to any high level performance based situation.
Consider the best college basketball player in the world.
If an NBA scout comes to watch a game and the player that is being considered starts getting overly concerned about having to win, overly concerned about having to look good, or overly concerned about having to perform perfectly, how do you think this might affect the player’s performance?
Chances are the player’s over thinking and over concern about the outcome are going to negatively affect his ability to play the game at the highest level. It could even be a disastrous level.
After over a decade of being a coach and continuously training to be a performance coach, I have found the most effective way to handle a player’s, or a trader’s, thoughts during these high stress situations is to learn to detach from the outcome.
There are many different methods that are taught to detach from these types of situations and clear those concerned thoughts to allow you to perform at your best.
The trick is to identify the unproductive automatic thoughts that are creating the ill placed concerns. Those automatic thoughts need to be evaluated, not for truth, but rather for whether or not those thoughts serve you. If not, change them!