Forex trading has a hectic environment and many forex traders feel stressed during and after each trade. The stress leads to tiredness, unhappiness, impatience and frustration, which in turn influences the decision making and rationality. Is there a way to limit the stress and increase your focus during online trading? Can meditation turn you into calmer and more focused self?
Meditation Strategy in Trading is an amazing way to decrease mental discomfort during trading. Don’t get me wrong, I am not talking about joining monks inTibet or experiencing true happiness on a daily basis even during bad trades. All I am saying is that trying to meditate while watching forex charts can actually be quite rewarding.
Meditation is a perfect way to focus your mind on something specific. I, for example, prefer to meditate and immerse myself in the charts instead of walking away from the screen for couple of hours.
Most forex traders find themselves stressed and agitated at least several times during the day! If you are stressing out most of the day in front of the computer maybe it is time to consider finding a way to relax while you trade. Forex trading is flexible, and therefore you should be open for new ideas. There are many ways to be successful in online trading and I truly believe that meditation is one of them.
The meditation steps are as follows:
1. Breathing right is the key. Focus on your breath and think about inhaling and exhaling. I am not asking you to breathe as if you are at the doctors’ appointment suffering from unbearable cough. No. Breathe naturally and try to let go of your thoughts for about 5 minutes.
2. After 5 minutes of controlling your breath, it is time to look at your forex charts. It is alright to concentrate on your trading strategy for a while. Then you go back to watching your breath and observing the charts.
3. There has to be balance between relaxing and focusing on charts. Relaxing too much can lead to no trading at all.
As I mentioned previously, breathing is the key to put you into a relaxing state of mind. With meditation you still trade in the same manner just that you don’t obsess over trade you have already made. Meditation helps to let go and become more rational and therefore make better decisions about your trades, especially when things go against you.
Some things I said might look like it wouldn’t make any difference, but think about it! The ability to keep your mental state at balance can be very profitable in forex trading. Trading is one of the most difficult professions and it is nice to make your working day as stress-free as possible.
Psychological approach to forex trading is as important as any other strategy. Knowing how to deal with losses and continue to be rational after bad trade is essential. Anger can cause you to loose even more money, so it is all about being aware of what is going on in your own mind when you make trades. Meditation in increase your awareness and make your working day more profitable.
In trading it is important to distinguish your targets and a signs of greed. A few deep breathes can make a lot of difference during a stressful trade. With meditation you can definitely profit from loosening your mind from your emotional and destructive self and therefore achieve trading success.