How many times have you scared yourself out of a great trade?
You enter a trade, and a little negative voice in your head starts nagging.
“Is this really a good trade?”
“What if I made a mistake?”
“Oh no, it is heading in the wrong direction!”
Before you know it you bail out of the trade, only to find it would have been profitable had you stuck to your original plan.
In this article, I am going to show you how I overcame my own negative voice.
If you find this article useful please leave a comment and let me know. I would love to hear how this article has helped you.
Drown Out The Negative Voice
Drown Out The Negative Voice
So what is the solution?
Drown out the negative voice.
How do you do that?
Well, it is incredibly easy, once you know how!
You need to introduce a positive voice into the mix.
Positivity is like kryptonite to negativity. I have been doing this for years and it has become second nature to me. Whenever I am in a trade, I chant positive statements to myself that drown out any negativity.
Here is a list of what I say to myself. I use these like mantra’s.
1. “This is a good trade and I entered for the right reasons.”
Reminding yourself your are in the trade for the right reasons makes it harder for you to doubt yourself. Without self-belief you’ll be beaten before you even begin. Repeat this statement to keep doubt out of your mind.
Reminding yourself your are in the trade for the right reasons makes it harder for you to doubt yourself. Without self-belief you’ll be beaten before you even begin. Repeat this statement to keep doubt out of your mind.
2. “I am following my trading and money management plan.”
Following your trading plan is vital to your success as a trader. You developed your plan for a reason when you weren’t under pressure and were in a logical frame of mind. It’s easy to become emotional while in a trade so you need to refer to your plan to stay on track. Knowing that the trade your are in is part of your overall plan helps to keep you positive. Repeat this statement to remind yourself that you are following your plan.
Following your trading plan is vital to your success as a trader. You developed your plan for a reason when you weren’t under pressure and were in a logical frame of mind. It’s easy to become emotional while in a trade so you need to refer to your plan to stay on track. Knowing that the trade your are in is part of your overall plan helps to keep you positive. Repeat this statement to remind yourself that you are following your plan.
3. “It is normal for price to make small retraces as it heads in the right direction.”
Trades rarely go in the right direction consistently as soon as you enter. It is normal for price to move up and down for a while, before your trade hits target. This statement reminds you that retraces are a normal part of trading.
Trades rarely go in the right direction consistently as soon as you enter. It is normal for price to move up and down for a while, before your trade hits target. This statement reminds you that retraces are a normal part of trading.
Write These Statements Into Your Plan
You should add these statements to your trading plan. This will make it easier for you to remember and follow them. Also, don’t be afraid to come up with your own statements too.Everyone has their own individual negative talk that they have to overcome.
Next time you are in a trade, try using this technique of positive self talk as I guarantee you it will help.
Leave a comment below and let me know if this article has helped you.
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