Learn To Trade-Welcome to the Fairground
Our state of the art trading floors in the City of London and Surrey are inhabited by a diverse range of individuals in terms of age, race, country of birth, ethnic background and which team they support in the World Cup (commiserations to our French brethren!). By contrast, they are all unified in their pursuit of elite levels of trading performance, an unwavering dedication to succeeding, and a highly intellectual approach to the financial markets. However, there is one other trait which often goes unnoticed to the untrained eye - the ability to manage one’s emotions. Elite traders are very aware of their personality type, their emotional makeup and the impact, both positive and negative, that these elements have on their trading performance. Often as a result of years of repeated exposure to the markets, and thus themselves, they acquire a deep introspective understanding and an ability to manage their emotions effectively. Those traders that fail to develop this skill often fight a daily battle with themselves whilst being thrown around on an emotional rollercoaster that can ultimately lead to burnout.
But it needn’t be this way. New and experienced traders alike can benefit from an approach to emotion management that has its roots in Cognitive Behavioural Therapy (CBT). Developed by American psychotherapist Dr. Aaron Beck, CBT is a short-term psychological treatment that suggests that problems are often created by an individual. The situation with which you are faced is not the cause of your problems, how you think about and subsequently react to a situation is the cause. If you can interrupt and adjust your “normal” thought process that occurs in the face of a negative situation, you will, with repeated practice, replace ineffective emotions and behaviour with effective ones. By making CBT-type techniques an integral part of the routine of novice traders and coaching them to implement such techniques in the heat of the moment when bombarded with stimuli, it is possible to instil effective thought processes as the norm from the early stages, thus allowing them to avoid the rollercoaster and instead enjoy the sweet candyfloss of consistent profitability.
Futex Investment & Trading Academy
“The Ultimate Futures Trading Education”
Tags: futex, futures, Inbox Education, learn to trade
