Skip to main content

Trading & Being Grateful



Gratitude? What on earth does it have to do with trading?
Well, what if I told you that being grateful can have a real positive impact on both your trading results and on your life?

Being Grateful & Trading
Two of the states of mind that cause us to make many mistakes in trading are fear and anger.
When you are truly feeling grateful for what you have, you are not feeling fearful or angry. You can’t be both grateful and scared. You can’t be both grateful and angry. Being grateful makes you less scared of losing money. If you are less afraid of losing, it is easier to respect your stop and accept a small loss. It is also easier to just stay in a trade as long as your strategy doesn’t trigger a sell signal.
Being grateful makes you focus on what you already have as opposed to what you lack. So it makes it easier for you to wait patiently for the next trade and avoid FOMO (Fear Of Missing Out) trades.
Being grateful for what you already have will make you less likely to get angry when you incur a loss and/or when you got shaken out of a stock and the stock is now turning around. So you are less likely to take a revenge trade.
Being genuinely grateful for what you have basically makes it much easier to just focus on the process of following your plan.
How to Develop an Attitude of Gratitude
The most efficient way I found to develop gratitude was to integrate it into my daily routine, right before the start of the trading day.
So everyday, before the market opens, I take 5 minutes to write down in a journal 3 things I’m grateful for in my life, and take the time to reflect on each things.
Nothing is too big or too small to be grateful for. You can be grateful for absolutely anything you have in life, from the people in your life to the pen and paper you’re using to write down what you’re grateful for. From your trading knowledge and skills, to having a bed to sleep in every night. From being born in a nice country, to having access to electricity and water. From general things in your life, to small events that happened the day before…
I strongly suggest you try it for 21 days in a row, the time needed to form a new habit.
Studies show that this very simple exercise will rewire your brain and help you focus more on positive things in your life. It will not only make you better trader, but it will also have a positive impact on your everyday level of happiness, on your relationships, and on your health.
“Without gratitude and appreciation for what we already have, we’ll never know true fulfillment” -Tony Robbins



stockmarketadvisory.in 

Comments

Popular posts from this blog

Bull Call Spread Options Strategy ( With Practical Example)

I Strongly believe , to be Successful in Stock Markets you Require two things : 1) Edge 2) Hedge Edge means having your own Trading System , following your own consensus & Conviction. Hedge is like an Insurance Policy , it will protect you from losing big and also maximise your earning potential over time without Destruction of your Capital. I will be Sharing one of the Hedging Strategy here. Example : Nifty on Friday (5th June) has closed around 10150. You are Bullish for this Weekly Expiry and what you to do is buy a Call Option of 10200 which is Trading around ₹120. Buying or selling naked Options involves high risk as its equal to betting. If you win you win Big or else you lose Everything. So buying naked Options isnt my Cup of Tea. What will I do in this Scenario? I would buy a 10200 CE (11th June Expiry ) at ₹120 and would sell a 10300 CE (11th June Expiry) at ₹80 to manage my risk. Now there are 3 Situations which can happen : 1) Nifty continues to rise: The 102

Pre - Budget Analysis (1st Feb 2022)

U.S Markets closed higher yesterday. Most importantly , S&P 500 VIX crashed 10%. There was huge Volatility in global markets due to Fed event. Markets remain volatile only when they have topped out or have bottomed out. Right now I feel we have bottomed out at 16850. Asian markets are slightly lower now. Dow futures are lower. SGX Nifty is at 17500. Finally , the most awaited day has come. Budget 2022 is going to be presented today. Expectations are of a good and stable budget. Reasons are the Elections coming up and LIC IPO in March. Govt very well knows if LIC IPO has to go through , Market sentiment has to be good. Without good market spending it would be very difficult for IPO to go through. Market had already fallen a lot before the budget. Although we have rallied in last 2 days but still we have some upside left. Though I feel it's not favourable to chase today's gap up. Today's gap up is a good opportunity to book profits those who carried longs. Bud

Pre - Market Analysis (17th Feb 2022)

U.S Markets closed flat yesterday. Right now Dow futures are slightly lower. Asian markets are slightly higher. SGX Nifty is near 17380. Suggesting a flat start for the day. Yesterday was a heavy Volatile session. Markets have moved all over the place yesterday. At one point of time Nifty rallied and at one point of time we were ready to cross 17500. Then news of Russia came that Russia has not fully taken back their military troops. This led to a drastic fall in the last 2 hours. Nifty crashed all the way to 17300. India VIX came to positive. U.S Markets at one point of time were down quite significantly yesterday. But later during the day they have recovered most of their losses. Most importantly , U.S VIX fell 5% yesterday. Here as well we can hope markets to stabilize and VIX to collapse. Premiums are quite attractive considering only 6.days left for expiry  1000 points away put options are also trading at 20-25 rs premium. These put option buyers you know are crazy peo