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Mind & Money

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Change Personal History - Mind Games for Successful Daytrading

We all compile our "experiences" based on what we have done before, what we recall from our past. It is easy to change your memories and experience of the past into whatever you want. I'm not talking about deluding yourself, but installing attitudes and beliefs that can help you grow as a day trader.

Have you ever recalled an event from childhood, but your family recalls it differently? Or, have you ever had a sibling tell you about something you did as a child, but you had no recollection, in fact, you claim it didn't happen? That is because we all code our memories however it best suits us at the time. As we grow older, it becomes more and more difficult to separate the fact from the fiction. A child that tells tall tales, can actually forget which are true, and become what most refer to as a pathological liar, when he is really just a good story teller with a poor memory.

Two Step Process to a Better Background

STEP ONE: Sit in a comfortable position and relax. Take a few slow deep breaths. Slowly exhale between each breath and then notice the distance from your shoulders to your ears. See if you can increase that distance, just a bit, by lowering your shoulders. Relax. Clear your mind of any distractions and plan for the next five minutes to immerse yourself in this fantasy.

Now, as if you are watching on a movie screen, imagine you are about 6-years old. Create a happy place for your home. This is a fantasy, not a reality show, so make it pleasant. Feel free to substitute people and places as fits best with your idea of the ideal scene.

Your father, a daytrader, is a great, wise man that you highly admire and love deeply. The two of you spend countless hours together, and he has taught you to be quiet and watch. You notice, he is quiet and watching too.

See yourself now up on the screen as you watch him in front of his charts (in this memory, our current technology is available, so fill the room with any equipment you like). Notice that he seems to be concentrating, but at times you see what appears to be a flash in his eyes, and just then, he brings up his trade screen and places his trade. You see him taking a deep breath, and sitting back in his chair. Now he stands up and leaves the room for a few minutes.

When he returns, he smiles and asks you about your day. As you excitedly start talking, he looks back at the screen and with a swift finger to his lips, motions for you to be quiet now. He is working. You've been taught he needs to concentrate, and comply with no fuss.

You don't notice when the trade ends, or when he makes a change to his order, because it is fluid and seemingly effortless. Your father is smiling so you think it was a good trade. He writes something down in a small notebook after every trade. Later you discover he takes notes about how he is feeling, and what triggered him to handle the trade the way he did.

Now, you are at dinner and your father is talking about that day's trading. "It was rough, he says, but I traded well." You are excited thinking about how you want to be a day trader when you grow up.

Now, STOP a moment. Look around and come back to the room.

STEP TWO: Now, relaxing again, imagine this time the entire scene as if you are that small boy, looking out. Instead of up on the screen, now you are in the room, where you can smell the tobacco (or some other smell you particularly enjoy), you can hear the hum of the computers, you see the books on the shelf. Make the room as vivid and real to you as you can.

Now be a 6-year old. The room is cozy and inviting. Your father often invites you in his trading room and you know it is a privilege to be allowed there.

There's daddy now. He is a day trader, a great and wise man that you highly admire and love deeply. The two of you spend countless hours together, and he has taught you to be quiet and watch. You notice, he is quiet and watching too. You try your best not to squirm or ask too many questions.

You can tell that your father is deeply concentrating because he becomes very quiet and his eyes seem to focus intently on his screens. You see a sudden flash or spark, and he is all busy now, bringing up his trading screen, typing, and placing his trade. You see him taking a deep breath, and sitting back in his chair. Now he stands up and leaves the room for a few minutes.

When he returns, he smiles and asks you about your day. You feel about ready to explode wanting to talk, but you try to act more like daddy and stay calm as you discuss things that seem important to you. Just then he looks back at the screen and motions to you to be quiet with a swift finger to his lips. He is working. You've been taught he needs to concentrate, and you gladly obey.

You don't notice when the trade ends, or when he makes a change to his order, because it is fluid and seemingly effortless. Your father is smiling so you think it was a good trade. He writes something down in a small notebook after every trade. He tells you later that it is so he can review his trades; it makes him a better trader.

Now, you are at dinner and your father is talking about that day's trading. "It was rough, he says, but I traded well." You are excited thinking about how you want to be a day trader when you grow up.

Relax - Breath - Come Back

Is It Real, Or Is It ...?

And what was the point of this exercise? It is to give you the background of being a trader from the very depths of your soul. Remember the kid who always knew he wanted to be a doctor, and now he's a ... doctor! Well this exercise gives you the inner belief that you have always wanted to be a trader, and you have the skills and experience from hundreds if not thousands of hours of watching a master.

It is usually easier to manufacture these memories, then rely on our own good fortune in our upbringing. Your brain does not know the difference between a fantasy and reality, so give it memories that are useful to your present desires.

That sounds ridiculously simple, but it is very effective. The reason so many people follow in their parent's footsteps, is because over the years of watching the parent, they were there, absorbing the lifestyle and mannerisms, and are now very comfortable assuming that role for themselves. Beginning any new endeavor with a built-in comfort level, and belief in your own competency, is very powerful. You are now comfortable as a highly skilled daytrader.

Change this memory exercise to suit yourself. It could be a brother, cousin, next door neighbor. It doesn't matter. If your own past is too strong to be incorporated, use something else. Just play and relax.

For help with the psychological and mental aspects of daytrading contact Kathryn Martyn, NLP Practitioner, or see the Daytrader's Mentor.

To Focus on the Trading - Not the Money