Reaching the level of an athlete takes a lot, and it comes down to taking the craft seriously. They take training, performance and recovery seriously.
That is exactly what a lot of traders lack, and it may be why most do not get the results they want. So a good idea is to trade like an athlete.
Key takeaways
Review your past trades in your journal for about ten minutes to spot mistakes to avoid and wins to repeat.
Picture record losses and record profits, feel the reaction in your body, and practise staying calm in each.
Trade in an environment free of distractions so you can actually focus on what you are doing.
You cannot control price, only your entry and exit, so take the best trade and the best exit and let the result be the result.
A missed trade is not the end, because opportunities keep presenting themselves and there is always another one.
After trading, log every trade with the image, pair, direction, result and your notes, then reflect on the day.
Your pre-trading routine
An athlete has a routine, a warm up and a visualization. Yours starts with your trading journal, where you record the trades, the results, notes and images of your analysis.
Spend about ten minutes reviewing it. Painful mistakes help you avoid repeating them, and seeing what you did well gives you confidence that you have done it before and can do it again.
Then spend ten minutes visualizing. Picture the worst case first, record losses and everything going wrong, and you will feel your heart rate change even though it is only in your head. Practise calming down there so you are ready when it happens for real.
“Less than five percent of traders do this, and those are the ones that succeed most of the time.”
Getting in the zone during the trade
Once you start, keep that calm and that confidence. To get in the zone you need an environment free of distractions.
I used to trade in my office with co-workers around. They would come over with a question mid-trade and it would completely ruin my results. So I move somewhere quiet where I can focus.
Then you enter a trade and it goes into a loss. That is part of the process. You cannot control price going up or down, so have your stop loss and get out. Focus on what you can control.
Handling missed trades
Sometimes you draw up an analysis, decide it will go up, and never push the button. Then it runs without you.
Do not spend a second being upset about it, maybe only a moment to reflect. These opportunities are not going to end.
I once asked a very successful retail trader making tens of thousands a month for advice. He gave me nothing about trading itself, only advice about mindset. I believe 99% of trading is mindset.
The post-trading cool down
An athlete cools down and stretches after the game. A trader needs the same.
Enter every trade into your journal and reflect on the decisions you made through the day. I use a column for the image, the pair, whether you bought or sold, the result and your notes.
Success is low in every field. Look at how few aspiring athletes turn professional or how few actors reach Hollywood. If you want to be the one percent, you have to do a little more than others, and these routines are part of it.
Once your routine is dialled in, compare firms on Propvator and find the one that lets you perform at your best.