Home Advanced Forex Education Forex Psychology Self-Calming Techniques for Forex Traders

Self-Calming Techniques for Forex Traders

42
0

Forex trading is known to cause a rollercoaster of emotions – from excitement and self-fulfillment, to anxiety and bitter disappointment, along with every other emotion in between. Sometimes, the best thing to do is to step away and take a break from trading until you can get your emotions under control. However, many traders don’t want to miss out on opportunities, so taking a break from trading might be difficult. One of the best ways to get yourself more level-headed is to figure out a self-calming technique that works for you. Some of these can be practiced while trading, others might require you to step away for a short time. Either way, these techniques can help clear your mind so that you can get back to trading. Here are some popular calming techniques:

Practice Conscious Breathing

Perhaps one of the quickest ways to calm yourself after a big loss is deep breathing. This is a simple, yet effective solution that helps you get your head back in the game without missing anything. You just need to take a few slow deep breaths to expel tension from your body. Most people recommend taking about 10 deep breaths. Then, you can get back to trading almost immediately.

Listening to Music

Music can really help to influence our emotions, so calming or happy, upbeat songs can help out when you’re feeling down. This is also something you can do while trading, so you don’t have to worry about missing a good opportunity. Just try not to turn up the music too loud, otherwise, it could become distracting. You’ll also need to pick the right kind of tune and be sure to avoid depressing songs.

Try Positive Self-Talk

When you’re trading, is your inner voice calm and relaxed? Would you want someone else to talk to you in the same way you talk to yourself? If the answer is no, then you need to be kinder to yourself. Tell yourself that everything is going to be ok and that everyone loses sometimes. Don’t beat yourself up when you make a mistake – everyone does.

Try Meditation or Yoga

Many people swear by calming exercise techniques like yoga and meditation. These practices aren’t only good for dealing with the stress of trading and might actually help with other stressful aspects affecting your life. Of course, this one does require you to step away from your device for a while. In some cases, it might be better to unplug completely for a while after all. Then, you can come back for a fresh start with a clear mindset and more focus.

Use Grounding Techniques

Grounding is an easy task that involves focusing on the physical world instead of your own inner thoughts. This is another quick solution that can help calm anxiety or fear that might be caused by forex trading. Here are a couple of examples of grounding techniques but know that there are more examples online or you can even come up with your own:

  1. Name 5 things you can see, 4 things you can hear, 3 things you can immediately touch, 2 things you can smell, and one thing you can taste at that moment.
  2. Count to 10, or say the alphabet.
  3. Clench and release your fists.
  4. Place a cool washcloth on your forehead.

As you can see, these are all simple but effective ways to calm yourself down and they can be done right from your trading station.

LEAVE A REPLY

Please enter your comment!
Please enter your name here