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Hey, it’s Marina, the trader chick and I have a question for you.
Did you know that day trading is at least 85% to 90% emotional and a mind game. Did you know that? Well, let me tell you something. It is.
And today I’m gonna show you just a few slight tricks that could totally make your mind strong and for you to be able to kill it when you’re in the live market. Are you ready? Let’s go. Alright, so as I said, 85% of day trading is mental and emotional. I can guarantee you probably did not realize that because every day I get people saying it’s all about the charts.
It’s all about technical analysis. Well, let me give it to you straight. 85% to 90% is actually day-trading through the mental and emotional state of mind, so you can know your charts. You could do anything you want with a technical analysis. But if your mind is not on the right, you will always lose.
However, there is a way to avoid it. And today I’m gonna give you a couple of really quick cool tips to help you get past that. Get ready. All right. First of all, the mind is a muscle just as it is in your bicep, your quadriceps, your ABS, you gotta train it to really gain that momentum.
And the only way you do that is let’s begin to learn how to do that. Your mind and emotional is completely critical to becoming a day trader. And the cool thing is you can learn how to do it. Everybody could actually learn how to have a strong mind and a strong emotional mindset, which is crucial for day trading.
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So having strategic and tactic knowledge is great. And what is that, that’s knowing the charts of knowing technical analysis, the patterns. Yes, it’s great. And it’s just as important to an extent. But remember, it’s only 20% of that.
That if you only know that only 20% of it will actually help you win. So you have to really strengthen that other 80%, but that 80% doesn’t happen just like that. So here’s the deal, guys. If you are an emotional that you are having some sort of drama in your life or you just had an argument with your child or your spouse or even your dog, you are emotional like it or not, we can pretend that we’re not, but we are emotional. After an argument, you don’t want to hop in the live market when you’ve just had a fight with your son over something silly, which you know, we all do that.
So you have to step back. You have to step out of that emotional. I call it emotional headspace. Now, if you had a tragedy. Unfortunately, guys, this is so real tragedy.
Whatever it could be, help, death. I mean, whatever the tragedy is, it might not have happened today, but if you are still dealing with that tragedy, please don’t go live in the market. You are not there fully and emotionally stable. You need to be strong. And if it means you have to step away for several months, trust me, that’s going to be better for you than constantly going into the market and losing and with a tragedy.
Unfortunately, that could happen. And that could just catapult and the domino effect of more emotion trading, which could really, really set you back far. And you don’t want that. Now another thing is having lost more money than you wanted to. I know we’ve all been there, done that.
But one thing I can tell you for sure, revenge trading is not going to get your money back. So if you’ve lost way more than you want to, you get into an emotional state no matter how you look at it, no matter what law, you’re telling yourself that you’re going to get it back tomorrow, you’re going to get it back, you’re going to get it back. That’s emotional. That is not strategic. That is not being tactical.
You need to step back. You need to get away. Take a couple of days off, take a week off, take a month because you are not going to be able to do well when you go back into the market, you cannot be revenge trading. You cannot be chasing your trades. Like I said before, angry form an argument.
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I want to give you a really interesting fact. Do you know why 75% of car accidents happen with by people other than being in topic, date or on drugs? Obviously, the majority of the reasons is because they just came from an argument. Yes, it’s been proven. Sometimes people who have a fight, let’s say, with their boss or they were treated poorly with their boss or their husband, their wife, whatever.
And they just came out of that state and they get behind the wheel and they’re still in that place. They’re still in that argument, even though that arguments happen and they’re driving all angry and everything in bloomed, that’s how crashes happen. So here’s reality. You bring that anger into your trading. It’s going to come up even if you pretend it’s not it’s there.
You need to let it out. You need to write it out. It’s difficult to say. Yes, we want to do that. But the reality is that argument has nothing to do with the charts that are in front of you, and you need to be able to step away from it and completely remove yourself from that.
And that takes work that actually takes work. And that’s part of that mental training, which I will let you know what we’re going to work on in just a few minutes. And sometimes we just have bad days. And you know what? I understand that you’ve allotted that time in your day to trade.
That’s totally cool. But if you’re having a bad day, don’t sit in front of the market. Guys, I say this a lot to my students just because you want to go surfing and you’ve taken one week off and you’ve gotten to Hawaii. You paid for your surf trip and Mother Nature gives you nothing but flatness. Are you gonna get angry at Mother Nature?
No. You’ll be like, yeah, you’re not gonna get upset. Yeah. You know, my God, it sucks. I kind of paid for this whole trip, but at the end of the day, you’re gonna be like, well, you know, it’s just not happening.
Having a bad day, it’s having flat waves you don’t want or having really rough waves, which you can’t serve either. Right. So you got to accept it. You have to understand and permit yourself to have those bad days and say, like, you know what? It’s just not going to happen for me today.
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I’m not there 100%, and it’s okay. You could give yourself that permission. And so many people, don’t they think? Well, I’m sitting in front of this chat right now, and it better gives me some traits. Let me tell you, it doesn’t have to do anything.
What it does have to do is do what it’s going to do and you have to have the emotional strength and the mental strength to say, yeah, I’m having a bad day. You know what? I’m not good here today right now, you know what? The market is simply not giving me anything and be okay with it. So now let’s talk about how to get to that space and how to train yourself mentally.
So first and foremost, you need to do a ritual before you sit down and go, boom, and start shooting your gun. You need to have a start before your trading day. First and foremost, you need to clear your mind. I know that sounds cliche, but if your mind is not clear if you’re still worried about the tragedy that happen or the argument that you just went through or you’re just having a crap out of the day and you’re not in the right mood. So you need to have that as part of it.
Clear your mind, see where you’re at understanding. And if you feel it and you will, majority of the times, you will, but you have to prepare yourself. You need to do that clearing. And the best way is meditation. And that is the number one way.
Whatever time you have to meditate sometimes between five to 20 minutes. But trust me, when I tell you this, nothing works better than meditation. And if you’re sitting here thinking, oh, my God, but I don’t know how to meditate. All you have to do is two things you could do. One focus on your breath and literally fade in and out for the breath for a certain amount of time, set your timer, or you could just count your breath, one for either in two for out or just one for the whole rest, that’s it.
And every time your mind starts to go crazy and it will and that’s normal. We can’t stop that. Just come back to the breath, come back to the counting. That’s really quick. And you know what really the whole gist of meditation.
Okay, so how do you really clear your mind Besides just the meditation and the breathing exercises, which I just told you, because those two are probably the most crucial of all is you have to trust that you will get there. You have to trust when I first began meditating and the whole process because, at this point, I’ve lost a lot of money. I’ve had all that bad days and all that anger and all that revenge trading. And when I started to meditate on breathing exercises, it took me some while.
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The most important part that I found that really, really helped was trusting the process, trusting that I can take a day off, trusting that I do need to clear my mind, trusting that I have a strategy that I can fall back on.
But first, I need to know that my mind is strong enough. I guarantee you guys if you just begin with breathing, the meditation and then trusting the process, which is permitting yourself to admit that you’re having a day that you’re angry that you’re having revenge trading feeling and that there’s a tragedy that could hold you back, trust that it’s okay and trust that you will get there. But you do need to do the work of pumping up your bicep. Your mind is a muscle.
The Trader Chick and remember subscribe because you’re going to be getting a lot more of these really cool small nets that I guarantee will take your trading to the next level. I’m here for you, Marina, the Trader Chick, and I’m excited for you to become profitable successful traders.