
Hosted By Robin
Dayne "The Trader's Coach" 18
years as a trading and life coach S&P Trading Tool That
will Enhance ANY Strategy Take a FREE Trial See for yourself! www.LTtrader.com Sign
up Today!

Don’t Let This
Trading Emotion Get YOU! - Frustration
By Robin Dayne
Oh, I know this is not your favorite topic but
I felt I had to discuss it. Of all the emotions besides fear,
frustration is the one I come across the most in my coaching
calls. So if we discuss it maybe it will go away!
Traders are constantly working so hard to fine tune their
strategies, trade according to their rules, stick to a plan,
avoid any emotions and deal with ever changing market conditions…….but
if one of these areas goes off, BANG frustration takes over.
So what creates frustration?
Frustration is created from a whole variety of different
things. The number one reason usually stems from your past
emotional baggage. Your beliefs, values, up-bringing, relationships
and connections to money, all come to the surface and are
tested with each and every trade you take.
Let me give you an example of how frustration surfaces. You
are a very diligent person -- an A type personality and you
decide you want to trade for a living. You have been very
successful in your past career and life, as a doctor, lawyer,
electrician, or successful at sports and my favorite an engineer.
Typically you attack this new career in a methodical and intelligent
way, you invest in the good system and instructions, cost
is no object. You pick up the concepts quickly, after all
you have a successful track record, and how hard could this
be. You trade with the simulator do surprisingly well and
are making great profits. Now you decide you are ready to
go live and put your money on the line and all of the sudden
you keep losing one trade after another. BINGO! Frustration!
There hasn't been one trader out there, that hasn't experienced
this or something very similar.
Bottom line frustration materializes when you have, a set
expectations from your past that are not met in the present.
A way of doing things that immediately leads to a success.
New things were easy to accomplish but trading if a different
animal. All of a sudden your emotions come into conflict with
your intelligence. When emotions are taking you over your
mind nothing in your trading works. Entries are off, fear
comes in while in a trade and exits are hasty. Emotions are
stronger then your logical thoughts. Have you ever tried to
have a conversation with someone who is emotional?
What does a trader do?
The key thing is awareness. Being aware your emotions are
there and in control of your actions is the first step to
stopping them.
Second, you need to just let it go; by coming to the reality
that this emotion is working against you and can only hurt
your efforts to move forward. The emotion of frustration has
no quality, no value and it keeps a trader stuck. Moving forward
is inhabited and working to bring your conscious mind into
the reality can happen by asking five questions.
Not just any questions but specific ones that will grab your
thoughts and straighten them out to the reality of the situation.
I often make a small card for traders that go into any emotion
of these questions so they will have them when they need them.
The reason questions work is if you ask your mind a question
it is forced to stop what its doing as it searches for the
answers. Emotions melt away. So, use these they work.
So related to being “frustrated” ask:
1.Does thinking in this way help my trading?
2.Does thinking this way help me move forward?
3.Does thinking this way help my profitability?
4.Does thinking this way feel good?
5.Does thinking this way do anything good for me?
If all the answers are no, no, no, no, no, no - guess what?
YOU MUST stop. Say to yourself, “I am not going to let
myself feel frustration anymore.” It does nothing good
for me. Use the power of questions to center you mind.
Now if questions don’t work for you, then you could
be experiencing an emotional block. Blocks are there to protect
your mind and if you experience trading “pains”
over and over from many losses a block can be formed and be
stronger than questions can help. You will need to learn additional
techniques to remove them.
You might want to talk about it or check out the coaching
options on www.robindayne.com. Call me 702-616-3744 and let’s
see what’s up.
In the meantime great trading! |