One of the areas I am working on is my self-belief / confidence. Dion Trader recommended that I should read the following book; Golf is Not A Game of Perfect by Dr Bob Rotella
As Dion says himself this book has many crossovers to trading as it more about confidence, mental routines and performance.
The following are just some of the great takeaways from the book
But he understands that while striving for perfection is essential, demanding perfection of himself on the golf course is deadly.
This is very relevant to trading, as text book setups, entries and exits, happen rarely. Whilst we should be working to perfect our process and routines, an acceptance that on the right hand edge of the chart things cannot be picture perfect and we must be accepting of that fact and not let it throw our focus.
Lance Beggs has an interesting article on how he deals with Order Entry Errors which is worth a read.
To improve, you must practice. But the quality of your practice is more important than the quantity.
I have been doing practice sessions for a while, and to be honest I have got limited value out of them.
Problem with practice sessions, is that I do not want to replay a random point in the market and if I choose a particular area or setup, that I have chosen this setup, means that I already know the outcome. So it feels I am going through the motions.
But after completing the Price Ladder Training Course by Futex, and the benefits I have got from there replays has given me some ideas on how to improve by own practise sessions. I will cover this more in my Weekly Review.
You must spend at least 60 percent of your practice in the trusting mentality.
This is in reference to the act of practising the mechanics of the golf swing and comparing it to practising the golf swing as a whole entity (trusting mentality).
This has led me to think about that all my past practices sessions, which have been focusing on the entry mechanics and very little focus has been spent on practising the trade management / exit.
Hmm…could this be one of the problems with my micro management of trades and inability to hold the Intraday swings. Call me Sherlock.
If anyone is interested in working on their mental routines and performance then this is a good book. There is a lot of golf to wade through but overall it took me 4 hours to read and I got value and good ideas from it to improve my own trading.