Great traders are not born; they are made and the secret ingredient to success in the currency markets all boils down to the consistency of motivation of an individual to trade over and over again through good times and bad. One of the most fascinating traders to come to my mind is Jesse Livermore, the great American trader that shorted the US equities markets in the 1920's, made millions of dollars and then wasted away his capital because of his own inability to find the consistent motivation to trade through our a year.
We are indeed walking emotional time bombs. Disciplined and educated that we are; at times we do tend to lose it when events suddenly get out of hand. It is at these moments within the forces of pressure that we do tend to love our focus, our nerve and our concentration. So what 
makes a great trader is the ability to narrow down the bad days when we just don't feel right about ourselves and have the humility to step aside when we cannot think lest we do more danger to ourselves.
To say that throughout the entire year we could find the motivation to trade each and every day would be a feat of super human capability. Perhaps your spouse is upset, or you are worried about your children's grades, or a friend is sick or in need, or a hundred other niggling worries building up at the back of your mind. We cannot sprint the entire marathon race. We have to learn to cope with our mental foibles and iron out the troughs of emotional anxiety in order to create the best consistent mental make up to determine our trading choices.
Personal pain can be accommodated with years of hard effort at training the mind to forge itself into a daily routine that makes up the trading framework that best suits your personality. What time of the day do i research my markets? What time of the day do I allow for conceptualizing any trading ideas that have emerged form my analysis? How many hours must i commit to my education and how many hows to my actual trading work? with years of dedication and motivation in time you will learn to forge the pattern that makes your trading psyche in a manner that can accommodate your daily time allocation for your professional and personal needs.
Meditation comes in many forms; on a street walking under the trees, sitting in a park on a bench staring into the sky above, listening to the birds chirping in the garden as you drink a cup of coffee; all these actions are meditative and achieve the same results as sitting in stillness practicing deep breathing exercises. The mind needs to be calmed in order to face a trading day. The more time allocated per week for mental solitude then the more responsive and quicker we become to all social and work stimuli during the day. Meditation breeds emotional strength breeds motivation and thereby consistency of performance. Finally consistency becomes the desired result for trading success.
Although the daily regimen of trading and preparation requires intense focus and acute awareness, years of mental preparation and successful cloistering of the work life form the personal life will see a trader through the daily, mundane routine of picking a trade. Trading can become quite mundane; it's a plod and a grind and the mind can easily switch off in the dull grey world of numbers flowing through the mind. But meditation calms the mind and helps the mind to come into focus for the few vital hours that are needed for market participation. Moreover, mediation helps the mind to shut off the emotional noise and distractions of family and friends. Should you find yourself as the mainstay and the breadwinner; the navigator responsible for all the lives around you, then not only to yourself, but to all those around you, then must you assume responsibility and step up to become the leader that you can become.
You must find peace within you to trade for the few hours that are required daily. step away from everyone on a regular basis. Find a place of calm solitude to quieten your mind. Cultivate a hobby, listen to classical music, build airplane models, play golf, read books, go to the theater, find enjoyment in your life and the spirit to motivate yourself increases through finding inner peace when you spend time at your hobbies. A bitter personality breeds bitter results. Do not spit in the water that you drink but be grateful for its bountiful blessings to nurture your body and work from that point with inner contentment to develop your very own unique path to trading in the currency markets.
We learn, we get better; great trading consistency comes from the motivation to develop the trading career. There is no room in the currency markets for a trading genius fatally-flawed to rise and then implode. Achieving a deep inner sense of calm is the secret ingredient to lasting success. With a quiet mind our repetitive actions becomes less mundane as we search for market directions.
A successful trading career cannot be built without the foundation of personal equanimity and sound mental health. The story of Jesse Livermore is the classic reminder of how a great trader became ruined when he lost control of his own emotions and broke his very own set of trading rules that took years and years to craft since his humble beginnings as a mere chalk boy in Boston.
makes a great trader is the ability to narrow down the bad days when we just don't feel right about ourselves and have the humility to step aside when we cannot think lest we do more danger to ourselves. To say that throughout the entire year we could find the motivation to trade each and every day would be a feat of super human capability. Perhaps your spouse is upset, or you are worried about your children's grades, or a friend is sick or in need, or a hundred other niggling worries building up at the back of your mind. We cannot sprint the entire marathon race. We have to learn to cope with our mental foibles and iron out the troughs of emotional anxiety in order to create the best consistent mental make up to determine our trading choices.
Personal pain can be accommodated with years of hard effort at training the mind to forge itself into a daily routine that makes up the trading framework that best suits your personality. What time of the day do i research my markets? What time of the day do I allow for conceptualizing any trading ideas that have emerged form my analysis? How many hours must i commit to my education and how many hows to my actual trading work? with years of dedication and motivation in time you will learn to forge the pattern that makes your trading psyche in a manner that can accommodate your daily time allocation for your professional and personal needs.
Meditation comes in many forms; on a street walking under the trees, sitting in a park on a bench staring into the sky above, listening to the birds chirping in the garden as you drink a cup of coffee; all these actions are meditative and achieve the same results as sitting in stillness practicing deep breathing exercises. The mind needs to be calmed in order to face a trading day. The more time allocated per week for mental solitude then the more responsive and quicker we become to all social and work stimuli during the day. Meditation breeds emotional strength breeds motivation and thereby consistency of performance. Finally consistency becomes the desired result for trading success.
Although the daily regimen of trading and preparation requires intense focus and acute awareness, years of mental preparation and successful cloistering of the work life form the personal life will see a trader through the daily, mundane routine of picking a trade. Trading can become quite mundane; it's a plod and a grind and the mind can easily switch off in the dull grey world of numbers flowing through the mind. But meditation calms the mind and helps the mind to come into focus for the few vital hours that are needed for market participation. Moreover, mediation helps the mind to shut off the emotional noise and distractions of family and friends. Should you find yourself as the mainstay and the breadwinner; the navigator responsible for all the lives around you, then not only to yourself, but to all those around you, then must you assume responsibility and step up to become the leader that you can become.
You must find peace within you to trade for the few hours that are required daily. step away from everyone on a regular basis. Find a place of calm solitude to quieten your mind. Cultivate a hobby, listen to classical music, build airplane models, play golf, read books, go to the theater, find enjoyment in your life and the spirit to motivate yourself increases through finding inner peace when you spend time at your hobbies. A bitter personality breeds bitter results. Do not spit in the water that you drink but be grateful for its bountiful blessings to nurture your body and work from that point with inner contentment to develop your very own unique path to trading in the currency markets.
We learn, we get better; great trading consistency comes from the motivation to develop the trading career. There is no room in the currency markets for a trading genius fatally-flawed to rise and then implode. Achieving a deep inner sense of calm is the secret ingredient to lasting success. With a quiet mind our repetitive actions becomes less mundane as we search for market directions.
A successful trading career cannot be built without the foundation of personal equanimity and sound mental health. The story of Jesse Livermore is the classic reminder of how a great trader became ruined when he lost control of his own emotions and broke his very own set of trading rules that took years and years to craft since his humble beginnings as a mere chalk boy in Boston.
Pieter Bergli - DeLoren Trust Holdings
A non-profit commitment to provide education on the properties of currency markets
Forex market commentaries and media reports for free
Disclaimer - U.S. Government Required Disclaimer - Commodity Futures Trading Commission
Futures and Options trading involves risks of losses. No representation is being made that any reader and account will or is likely to achieve profits or losses similar to those that are being discussed on this blog http://forexeducationperspective.blogspot.com/. The past performance of any trading system or methodology discussed is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this blog http://forexeducationperspective.blogspot.com/ are for educative and illustrative purposes only and not to be construed as specific advisory recommendations for actual trades. Disclaimer - http://forexeducationperspective.blogspot.com/ bears no responsibility for the trading actions of its readers
