If you are a new trader or even a well seasoned veteran one of the first things that will come to mind is… well... your mind.

A hugely overlooked and very underestimated main part of a professional trader is how you deal with your mental health and emotional intelligence. This is not the first thing that normally comes to mind when you think of a trader. Usually it is someone sitting in front of an array of computer monitors with charts looking back at them. When we analyse an investment we look at the broad picture and then extrapolate the details to hone in our final projections. Trading is a mindset and a way of living your life. You must change your thinking at a fundamental level to achieve your goals. Just as there is a checklist of things to prepare while you are starting your trading day there is also a pre checklist of mental awareness that must be done before you ever even sit down or think about entering a trade. Trading is an emotional adventure that you take on a daily basis and how you can handle that ride is up to you. You might have a blow-out day and gain on all your current positions or you might have been wrong and lost a few points that day. How this process plays out and your reactions will ripple into every decision you make.

Mental Health

Starting with the three keys to following and fulfilling any trading style. Those are dedication, consistency and execution. No two traders are alike and have the same thoughts. Even though we are all looking at the same charts we might view them differently. When i speak of mental health it is in how we perceive ourselves and how aware we are of our emotions. Knowing your triggers for your emotional responses will allow you to have a non-bias approach to any situation you are put in. How an individual manages their mental health will have a direct link on how that persons trading career will unfold.   

Dedication

You would think dedication is a pretty easy thing to have. You have a goal set in your mind and you will do anything in your power to make it a reality. This concept must go as deep down into your core as possible. Dedicating your life to being a full time trader must impact every aspect of your life. How you wake up, what you eat, how you take care of your body, how you manage your time. What kind of people you choose to surround yourself with.

Consistency

Practice makes perfect…. Once you have a solid understanding on how and why you react to certain situations you will be able to adjust and be fully aware of what is happening in the moment. If you make a choice today and you do not know exactly why. You will have a hard time being able to repeat those results. Favorable or unfavorable outcomes all come with understanding. It is the ability to be aware enough of exactly what situation you are in that will be the key. Once you know exactly how you will respond to expected and unexpected situations you can easily be able to repeat the outcome.

Execution

Just do it. Now that you have a routine planned out and are dedicated to the lifestyle you can see how important being consistent in all of your actions is. Once you lose that emotional connection with your trades and are able to consistently read yourself and your charts it is time to finally execute your plan. By being able to time and again consistently executing your trades the same way you will gain the ability to let it be a second nature.

Trading fundamentals do not start with charts and analytics, knowing the markets or having experience in the field. The first and foremost important trading fundamental is yourself.

---------------------------------------------------------------------------------------

Written by Nenad Jordanoski, Futures Trader and Technical Analyst.
Email: nj@thetrade.academy
-------------------------------------------------------------------------------------------
Risk Warning: Trading on the Financial Markets, Stock Exchange and all its asset derivatives is highly speculative and may not be suitable for all investors. Only invest with money you can afford to lose and ensure that you fully understand the risks involved. Please remember that past performance may not be indicative of future results. Supplied information is not an advice . Copyright © 2017 - 2019 The Trade Academy™ - All Rights Reserved. ¦Privacy Policy¦ ¦Terms and Conditions¦