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Don’t Let This Trading Emotion Get YOU! - Frustration

 

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!

 
 

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