There’s no getting away from it: if you want to learn Forex trading, then you have to do some serious studying. The arts of how to trade Forex successfully hinge on your ability to choose the most suitable Forex trading strategies and much else besides.
However, there’s another resource that you can’t afford to neglect. We’re used to seeing things when they’re in front of our eyes, but you can also create vision behind your eyes. Cognitive psychologists call this “visualisation,” and for many outstanding professionals, it pays rich dividends (the legendary Tiger Woods, for example, has been using visualisation techniques to improve his golf game since he was a teenager).
Just recall the last time that you felt stress inexorably climbing in your system during a trade. Here’s how visualisation can come to your rescue the next time that this starts to happen (and it will):
Practise, between trades, visualising a “safe room” — an impregnable, ultra-secure haven that insulates you from the slings and arrows of outrageous trading flying around outside. Once you’ve created your inner safe room, you can go to it during real trading. It serves as an inner retreat where you focus intently on your set-up, shut out the noise and turmoil of the world outside your skull and make hard-headed decisions while shielded from the chaos, even when you’re physically in the midst of it.
You can also build an inner persona for yourself while you’re in repose between trades – a persona that, like the safe room, you can draw upon when the trading bullets start flying. Become a hunter: waiting still and silently for as long as it takes until the right target comes into your reach and you have the opportunity to pounce. Premature and belated moves cost pips. Striking at precisely the right moment earns them.
These are just two of many visualisations strategies. Remember, your mind is your greatest asset, and if you can learn to keep yourself calm under fire and level-headed under duress, then you’ll be a better trader.