Three weeks ago we discussed a Mental Reset routine for quickly and effectively returning your mind to the present moment. (See here: Improve your Edge with a Mental Reset Ritual)
Two weeks ago we continued our discussion, talking about the optimal mental and physical state I’m seeking to achieve in my own trading. (See here: Calm Aggression – My Optimal Trading State)
I know people are keen for charts and trades, but I’d like to wrap up this recent foray into trading psychology with one more quick article.
Because the fact is that a mental reset routine like this, and the mindset it seeks to achieve, are just one part of the whole field of performance psychology.
Here’s a little mind map I put together quite a few years ago. Still relevant today:
Performance psychology plays a VITAL part in my success.
Tools to ensure my trading is process-driven, rather than emotional reaction to price movement.
And tools to achieve and maintain a mindset that best allows me to implement that process.
Your trading strategy may contain a tested and proven edge, and yet all too often we see traders poorly implement a strategy leading to underperformance or complete failure. This is because the edge within your strategy is really only a POTENTIAL EDGE.
The reality is that… YOU ARE THE REAL EDGE.
It’s the implementation of your plan which determines success or failure.
So let’s improve our ability to implement our trading plan:
- You have FIVE weeks till the Christmas break. There are ten second-level tasks in the Performance Psychology Mind Map (above).
- What if you focused on two of these items each week?
- Study the topic (my site and a general Google search) and develop processes or procedures. (If you already have some then review them and seek improvement.)
- And set yourself up for improved performance from day one of the new year.
For those reading this in the future… just block off the next five (or ten) weeks for the same process.
Trading is a performance activity.
Success in this activity requires effective operation under pressure.
And effective operation requires simple, practical tools and strategies designed to manage your state and optimise your performance.
Time spent developing these tools and strategies is never time wasted.
So go for it.
Lance Beggs
PS. Again, as mentioned briefly in the prior articles, none of this will provide edge where there is none. A prerequisite is a strategy that can provide edge. Once that foundation is in place, it’s your ability to execute that determines your success or failure. And that is the domain of performance psychology.