Don’t make trade when you are Mentally Unfit
I recently was invited into a basketball locker room where a psychologist was hired to address a team of 10 to 15-year-old up and upcoming players.
The psychologists started the session with a question “how many of you think there is a mental aspect to peak performance on the ice?
as you might expect, every player put up his hand.
He followed up with another question. ok, so what % of the game is mental then?
again the player hand shot up, 30% answered one, 50% answered another said, 90%!!!! the coach shouted out…..
The psychologist’s next comments left the room is silent, alright, it appears it is somewhere to 30% to 90%. How much time then do you spend working on improving mental game??????
Like that only many traders, investors did not even know where to start.
Most traders understand a large part of their success is determined by their mental approach to the markets; however only a small handful make a conscious effort to understand their mental strength and weaknesses.
Aggression, frustration, influence to your decision making, when you are not mentally fit to stay away from the market and have a deep breath and enjoy with your family, friends…….