What should traders do to center themselves each day?
The following is an email our host Steve Miller (you might now him as SLM) received from a viewer named Alan.
Your show is such a great addition to the already great tastytrade network. One question: What should a trader do to center themselves throughout each trading day?
I have intentionally left this question broad. Please share any techniques that you can regarding the emotional, cognitive and market aspects of this centering. It will be helpful for all of us.
What’s really interesting is the way you presented the questions; emotional, cognitive and market aspects. Because the emotions are so prevalent, people often see that sequence of processing information. Actually, we process them in the opposite order, taking in the data, processing it (cognitively) and then reacting (emotions).
For me, getting re-centered means stepping away from my desk and the markets. Then I can review that sequence of events and reactions that have me off balance. I want to hold onto what’s real for me and not what my emotional self is saying. Then take a few deep breaths, set an intention of what I will do when I get back to the markets and come back empowered and confident.
Learn more about the psychology of trading on the Ask SLM Show on tastytrade!