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Can Trading Performance Be Enhanced Through Meditation? 6 replies

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Meditation & Trading?

  • #1
  • First Post: Oct 14, 2008 5:51am Oct 14, 2008 5:51am
I was just wondering if anyone here has had a go at doing meditation as they watch the charts.

Meditation can be an amazing way to focus your mind on something.

I've noticed that when I am imersed in the charts I trade better but if I just try and trade without having looked at the charts for a few hours then I struggle to make good trades.

I'm going to have a go at doing mindfulness meditation and using the charts as my meditation object.

I figure that there are others who do this, or am I the only one?
  • #2
  • Oct 14, 2008 5:55am Oct 14, 2008 5:55am
I think meditation can be one way to practice discipline etc, no doubt. I was talked into to try meditation once and it wasn't that bad.
Measure twice, cut once
  • #3
  • Oct 14, 2008 6:01am Oct 14, 2008 6:01am
Quoting aediaz1
I think meditation can be one way to practice discipline etc, no doubt. I was talked into to try meditation once and it wasn't that bad.
Yeah. Use meditation as a means to practice discipline and non-attachment to trades. Ofcourse using good money management.
  • #4
  • Oct 14, 2008 6:03am Oct 14, 2008 6:03am
I'm going to develop this thread further and if I can get some benefit from doing meditation with my trading, I will post some methods and ideas that can help others. No doubt this thread will fall away soon but in a few weeks I'll post an update
  • #5
  • Oct 14, 2008 6:04am Oct 14, 2008 6:04am
Quoting altrader
Yeah. Use meditation as a means to practice discipline and non-attachment to trades. Ofcourse using good money management.
I guess this topic share similarity with trading-systems. What may work for you may not work for another person. My second guess is that I believe you can achieve much more here in life with an open mind.
Measure twice, cut once
  • #6
  • Oct 14, 2008 6:14am Oct 14, 2008 6:14am
Quoting aediaz1
I guess this topic share similarity with trading-systems. What may work for you may not work for another person. My second guess is that I believe you can achieve much more here in life with an open mind.
Very true. Meditation on something as mundane is the breath is difficult enough for me and most other people. I agree that a lot of people would not derive much benefit from a thread such as this but if it works for me then it might help someone else.

I also agree with keeping an open mind on things in general. There are so many ways that people are able to be successful at trading forex and that I think is one of the great things about trading in general. It makes it all so interesting to see how other people trade.

One other thing I'd like to mention is that I think that a lot of people get very stressed and agitated when they trade hoping that it will go in their direction. If you spend so much time working in front of the computer, and this is what your life is ( a large part of it), then you might as well find/develop a way to be relaxed while you trade. It just doesn't make any sense to be stressed while you work.
  • #7
  • Oct 14, 2008 6:14am Oct 14, 2008 6:14am
Quoting altrader


I've noticed that when I am imersed in the charts I trade better but if I just try and trade without having looked at the charts for a few hours then I struggle to make good trades.
I've noticed the same thing.I am a scalper and if i try to scalp right of the bat when i sit infront of my PC i get terrible result.If i am watching the market for an hour or so i tend to get in feel with the movement of the market and my results are far better.I can't explain why exactly is that so.
Regarding meditation i wouldn't know,I haven't tryed it yet,but i would love to if you will put forward some techniques to do that.

good day
  • #8
  • Oct 14, 2008 6:25am Oct 14, 2008 6:25am
Quoting happy camper
I've noticed the same thing.I am a scalper and if i try to scalp right of the bat when i sit infront of my PC i get terrible result.If i am watching the market for an hour or so i tend to get in feel with the movement of the market and my results are far better.I can't explain why exactly is that so.
Regarding meditation i wouldn't know,I haven't tryed it yet,but i would love to if you will put forward some techniques to do that.

good day
Yep, I'll definitely put forward some ideas on this as I develop them.

To start of will at a basic level:

1. Try to watch your breath. Do not do this in an exhagerated way. Just breathe normally and watch as you inhale and exhale. Let go of thoughts in your mind as much as you can. Don't obsess over this though, just let it be natural. Do this for 5minutes.

2. Now start looking at your charts and continue to watch your breath. It is ok to think about your trading strategy and allow thoughts to arise but once you are done with a particular strategy, then go back to watching your breath and watch the charts.

3. Note that there needs to be a balance here between relaxing and actually using this concentration to focus your thought on to the chart. So don't make the mistake of thinking about absolutely nothing or your won't be trading lol.

So you need to use the breath to bring you into a relaxed state of mind and then observe how things are going with your trading. I'd say that you are trading in essentially the same way as you normally would BUT you don't want to obsess about 'over thinking' things or if you've made a trade, then worrying about it. You should be able to let go and terminate the trade at a certain point if you think it is going against you and violates your money management rules.

Anyway, that's the basic method that I'm going to try and use for now. I realise that to some this doesn't look like it would make any difference at all but I think it would make a difference if it is able to help you keep a balanced mental state.
  • #9
  • Oct 14, 2008 6:31am Oct 14, 2008 6:31am
Quoting altrader
Very true. Meditation on something as mundane is the breath is difficult enough for me and most other people. I agree that a lot of people would not derive much benefit from a thread such as this but if it works for me then it might help someone else.

I also agree with keeping an open mind on things in general. There are so many ways that people are able to be successful at trading forex and that I think is one of the great things about trading in general. It makes it all so interesting to see how other people trade.

One other thing I'd like to mention is that I think that a lot of people get very stressed and agitated when they trade hoping that it will go in their direction. If you spend so much time working in front of the computer, and this is what your life is ( a large part of it), then you might as well find/develop a way to be relaxed while you trade. It just doesn't make any sense to be stressed while you work.
Absolutely. Taking trading as serious work would be the first step for many people, IMO.
Measure twice, cut once
  • #10
  • Oct 14, 2008 6:41am Oct 14, 2008 6:41am
Quoting aediaz1
Absolutely. Taking trading as serious work would be the first step for many people, IMO.
Yeah definitely. Trading is essentially the same as running a business in my opinion. But running a business does not necessarily have to be stressful. It all comes down to 'conditioning'. If you can find a way to condition yourself to take losses when you need to and keep them small, without any anguish in your mind then you will benefit. I'm a newbie trader but I believe a lot in working my psychological approach to trading as well.

Even today I made a 'revenge trade' and lost money. But after the fact I wrote down all the stupid things that I didn't do when I made those trades. So, it's about being more aware of what you are thinking as you make your trades. I think that meditation can help to heighten ones awareness and a notebook or journal can help you to remember these things so that you are less likely to make those mistakes again.
  • #11
  • Oct 14, 2008 6:54am Oct 14, 2008 6:54am
Quoting altrader
Yeah definitely. Trading is essentially the same as running a business in my opinion. But running a business does not necessarily have to be stressful. It all comes down to 'conditioning'. If you can find a way to condition yourself to take losses when you need to and keep them small, without any anguish in your mind then you will benefit. I'm a newbie trader but I believe a lot in working my psychological approach to trading as well.

Even today I made a 'revenge trade' and lost money. But after the fact I wrote down all the stupid things that I didn't do when I made those trades. So, it's about being more aware of what you are thinking as you make your trades. I think that meditation can help to heighten ones awareness and a notebook or journal can help you to remember these things so that you are less likely to make those mistakes again.
Well seems like you start on the right place, IMO. I've seen a lot of new traders come and go here on FF and very few would even bother to focus on this part.

To steal money out of others pockets, you'll need more than a water-proof trading-system in the same way a professional boxer needs more than pure strength to beat he's opponents.
Measure twice, cut once
  • #12
  • Oct 14, 2008 6:58am Oct 14, 2008 6:58am
Quoting aediaz1
Well seems like you start on the right place, IMO. I've seen a lot of new traders come and go here on FF and very few would even bother to focus on this part.

To steal money out of others pockets, you'll need more than a water-proof trading-system in the same way a professional boxer needs more than pure strength to beat he's opponents.
You're very experienced at trading. I really do hope that I'm not one of those people who dissappear from forex factory. But I'm doing everything I can to make trading successful and hope to help others along the way if I can
  • #13
  • Oct 14, 2008 7:05am Oct 14, 2008 7:05am
Quoting altrader
You're very experienced at trading. I really do hope that I'm not one of those people who dissappear from forex factory. But I'm doing everything I can to make trading successful and hope to help others along the way if I can
You mentioned trading journal in your earlier post. If I could do anything to help you, I would force you to start one right away. Imagine a company who gives a damn in keeping record of their financial status (also known as budget). You can't find a serious company who doesn't keep a record of their performance regardless of what they do (even drug-dealers keep advanced budget). If you force yourself to make a copy of every trade you will never ever do revenge-trading, I'm pretty sure of
Measure twice, cut once
  • #14
  • Oct 14, 2008 7:14am Oct 14, 2008 7:14am
Quoting aediaz1
You mentioned trading journal in your earlier post. If I could do anything to help you, I would force you to start one right away. Imagine a company who gives a damn in keeping record of their financial status (also known as budget). You can't find a serious company who doesn't keep a record of their performance regardless of what they do (even drug-dealers keep advanced budget). If you force yourself to make a copy of every trade you will never ever do revenge-trading, I'm pretty sure of
I think you make a good point. I do have a journal and do take screen shots from time to time but I have not created a strict method for doing so for every trade. I will do so from now on.
  • #15
  • Oct 14, 2008 7:19am Oct 14, 2008 7:19am
Quoting altrader
I think you make a good point. I do have a journal and do take screen shots from time to time but I have not created a strict method for doing so for every trade. I will do so from now on.

Good to hear. I charge 50% of your first million now
Measure twice, cut once
  • #16
  • Oct 14, 2008 8:07am Oct 14, 2008 8:07am
Quoting aediaz1
Good to hear. I charge 50% of your first million now
lol, nice
  • #17
  • Oct 14, 2008 8:26am Oct 14, 2008 8:26am
Quoting altrader
I was just wondering if anyone here has had a go at doing meditation as they watch the charts.

Meditation can be an amazing way to focus your mind on something.

I've noticed that when I am imersed in the charts I trade better but if I just try and trade without having looked at the charts for a few hours then I struggle to make good trades.

I'm going to have a go at doing mindfulness meditation and using the charts as my meditation object.

I figure that there are others who do this, or am I the only one?
U should go watch the movie called "Peaceful Warrior"


Sonic
  • #18
  • Oct 14, 2008 8:44am Oct 14, 2008 8:44am
Quoting sonicdeejay
U should go watch the movie called "Peaceful Warrior"


Sonic
Just found the title on IMDB. Swheet, thanks, sounds good
  • #19
  • Oct 14, 2008 10:39am Oct 14, 2008 10:39am
I think meditation may work for some traders. As for me it messes up my trading completely, I need to think and act as a robot.
{Promotion Removed}
  • #20
  • Oct 14, 2008 12:13pm Oct 14, 2008 12:13pm
Well i was thinking on same line and did post the same thing here


http://www.forexfactory.com/showthre...54#post2265554

Yes it helps to look at the chart in a calm way and easier to make decisions...


Well seems like you do "Art of living" meditation


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