Your Trading Mindset & Things to Think About
With the July 4th Holiday and US markets being closed tomorrow, I wanted to write a brief article about memory and your trading mindset and successful forex trading. Ironically, most developing forex traders spend more of their time either a) thinking about the future and what things they will buy or do with their new found riches, or b) thinking about past trades, particularly losses more than wins.
The brain biologically is built and wired to pay more attention to negative things instead of positive ones. Why? Because during our brains evolution, negative things more likely represented a danger to our survival. This is why you can recall your losses far more easily than your big winners.
Ask yourself what sticks out more and with you longer – your wins or your losses?
How does this affect our trading and memory?
We almost invariably build more negative neural landscapes than positive ones. Now imagine what that does to your self-image and attempts to build a successful trading mindset?
How Memory Works
Anytime a memory is activated, a large portion of your neuronal and synaptic real estate forms a pattern. But whatever else is in your mind and awareness when recalling that memory, your brain will associate these things with this neural pattern.
Now that last sentence and point is important, but the next one even more so.
When this memory that was recalled leaves your awareness, it will be re-branded in your brain and memory circuits along with these associations.
There is a truth that successful forex traders think differently than those which lose, and this is just one way. The good thing is, you can completely change the way you think and it’s not as difficult as you might guess.
Now with that being said, do you have any ideas on how memories, awareness, thoughts, emotions, and all of that will impact your trading?
These are some things to think about, but I’ll look forward to your responses on how you think this can impact your trading mindset, as I’ll give some key clues on how to use this to your advantage and build your brain anew for successful trading.
Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.
Want to Learn Price Action Strategies for Trading Forex?
Sign Up for our Monthly Newsletter and Get our FREE E-Book