Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Soultrader

Do You Meditate?

Do you meditate?  

54 members have voted

  1. 1. Do you meditate?

    • Yes, frequently
      19
    • Sometimes when I feel like it
      20
    • No, never
      15


Recommended Posts

Curious to see traders methods of meditation. Been studying NLP for some time which led to hypnosis... eventually into self-hypnosis. For me I tend to relax my mind to eliminte all thoughts and create a moment of blankness.

 

What do you all do meditate or ease your mind? Thanks!

Share this post


Link to post
Share on other sites

I have done both hypnosis and NLP in the past. Both work well. You reminded me I should get back to them. In college, while I never took the formal course in TM, I read some books on it, and it worked well. If I was going to try TM again I would give these folks a try. http://www.natural-stress-relief.com/ No I am not affiliated in anyway. The TM course is just so expensive, last time I checked around $2k USD.

 

So much of trading is psychology IMO.

Share this post


Link to post
Share on other sites
Curious to see traders methods of meditation. Been studying NLP for some time which led to hypnosis... eventually into self-hypnosis. For me I tend to relax my mind to eliminte all thoughts and create a moment of blankness.

 

What do you all do meditate or ease your mind? Thanks!

 

Mind is thoughts in motion, hence cannot be emptied of thoughts, however it can be made steady with a single thought. Even if say one succeeds in emptying the mind, there is still the thought of being aware of the blankness. Initially ofcourse this is preceded by the thought of the effort , "I am going to empty the mind" then "I am now aware of having emptied the mind". Real peace and calmness arises from focussing on the awareness, the silent witness , you the Real conciousness who is attempting to empty the mind and is aware of all that effort.

Get hold of "Enlightenment - The Path Through The Jungle" by Dennis Waite

Share this post


Link to post
Share on other sites

I meditate every day but use a few different ways. The most effective way I have found, which has been proven through a biofeedback device is sitting at my desk listening to a meditation song. I focus on one image in my mind and also on my breathing. Whenever I recognize that I am thinking something different I go back to that one image.

 

Another form of meditation I use is walking my dog. Sometimes I try not to think about anything and just try to take in as much information from the surrounding environment as possible. Looking at individual leaves on trees, noticing little things, trying to keep my mind as curious as possible. Other times when I walk my dog I deliberately spend the entire time thinking about what makes my trading plan have an edge.

 

The last form of meditation I use is Holosync. If you want to know what that is simply Google Holosync and you should get their site with all their information. I actually find it isn't a peaceful form of meditation and that it gets you thinking about things you don't want to. Usually the stuff that hurts that you deliberately buried in the back of your mind because you didn't want to think about it. It is good to clean out the cobwebs.

Share this post


Link to post
Share on other sites

My mind races often, I can slow it down and seem to have good mental control. I can focus on one thing if I really try, it has to be something I really want to focus on like a chart. I try to feel the market participants and what they were thinking as the auction shifts its equilibrium.

 

The more I go down the road of psychology and it's role in the markets, the more in tune I'm getting with my own psychology. This has been quite the journey for me. :)

 

I'm gonna look into Holosync and some more on NLP as well since NLP has come up in my studies allot.

Share this post


Link to post
Share on other sites

I agree meditation is critical - so is being self observant. Maybe this is a form of meditation, being outside yourself as an observer.

Quote on my board is:

We don't see things as they are, we see them as we are - Anais Nin

 

MC- if you are currently, have you tried avoiding caffeine? I don't drink coffee while trading anymore. I will have green tea or yerba mate, but that is much mellower. Tea drinking is sort of a meditation in itself, as it places you in the current moment.

 

James, maybe you could do a poll about coffee drinking.

Share this post


Link to post
Share on other sites
I agree meditation is critical - so is being self observant. Maybe this is a form of meditation, being outside yourself as an observer.

Quote on my board is:

We don't see things as they are, we see them as we are - Anais Nin

 

MC- if you are currently, have you tried avoiding caffeine? I don't drink coffee while trading anymore. I will have green tea or yerba mate, but that is much mellower. Tea drinking is sort of a meditation in itself, as it places you in the current moment.

 

James, maybe you could do a poll about coffee drinking.

 

I'm not a coffee drinker at all, tea daily but not till after the markets closed. I find after I ride the bike and get my heart rate up I actually get into a zone which is odd. I would think being slow and calm would be better for focus but I'm the opposite. I always thrived on pressure though, and I perform best when my back is to the wall.

 

I was a skateboarder so the pressure we put on ourselves can be immense. It's that individual sport mentality that I feel will help me succeed in something like the market where NOT fitting in is cool. :cool:

Share this post


Link to post
Share on other sites

I know of a 3 part professional NLP recording that was specifically for trading of forex. It takes around 20 minutes a day which is manageable in my view if you feel that this sort of thing can help.

 

 

Paul

Share this post


Link to post
Share on other sites
I know of a 3 part professional NLP recording that was specifically for trading of forex.

 

sweet jesus, you gotta be kidding me right? :o

 

do they do one for the 1st 30 minutes of european play?

Share this post


Link to post
Share on other sites

i meditate everyhour of everyday, but its probably not what you are thinking. for me meditation is being in the here and now. and i try to stay that way throughout the day. it is not that i do not plan for the future or contemplate the past, i just want to be in the moment at hand as much as possible. there is no moment more important than the one you are currently in.

Share this post


Link to post
Share on other sites
I agree meditation is critical - so is being self observant. Maybe this is a form of meditation, being outside yourself as an observer.

Quote on my board is:

We don't see things as they are, we see them as we are - Anais Nin

 

MC- if you are currently, have you tried avoiding caffeine? I don't drink coffee while trading anymore. I will have green tea or yerba mate, but that is much mellower. Tea drinking is sort of a meditation in itself, as it places you in the current moment.

 

James, maybe you could do a poll about coffee drinking.

 

Larry Pesavento had a paper weight or something on his desk that he used to pick up and examine before making hasty trade decisions. I tried making tea but I must say i found it hard to walk away from the screen at key junctures.

Share this post


Link to post
Share on other sites
sweet jesus, you gotta be kidding me right? :o

 

do they do one for the 1st 30 minutes of european play?

 

 

:rofl: They must also have a flavor for trading the news too, right? Lol...

 

 

I used to meditate, when I first started trading. But then I discovered that it really wasn't doing me a ding-dang bit of good. Mental state may be important for some people, but sensible aggressiveness is just as valuable.

 

It's as simple as knowing what's going on in the world, be aware of the important market levels, and hitch the rides that are worth hitching. Nothing complicated. Nothing mysterious or requiring hypnosis (at least, not for me). Just tag'em and bag'em without remorse.

Share this post


Link to post
Share on other sites

I just had to chime in here. I haven't posted in a while, but I am familiar with this subject somewhat. I have been using Brainsync, which is Kelly Howell's work. She has tons of meditation cd's that you can purchase and download on her site.

 

http://www.brainsync.com/pilot.asp

 

 

I go to sleep every night with my Ipod listening to one of her meditations. I absolutley love it, as it puts me into a very calm place. I also listen sometimes during daytime to some of her other ones, some even during trading, as they are just music with different brain waves. I think it's worth checking it.

 

Also a few months ago, someone here posted an e-mail that was forwarded to him about how to be a succesful trader(talked about support and resistance being the key). The author of the e-mail wrote about Ryan Watts, as he is successful trader. Since I love to research, I decided to look him up and see if he has a website, and he does. He has a section where he talks about three products he uses himself and it includes NLP and brainwaive technology. I purchased two of the three items (as I could 't figure out how to use the 3rd one, and I am trying to get in touch with him about that), and I can say they have been pretty amazing for me. Here is the link to his site, where he talks about those products. They are not that expensive, and I think they are very valuable.

 

http://wattstrading.com/Mindgames.html

 

Hope this helps at least one person.

Share this post


Link to post
Share on other sites

I agree with GammaJammer. Exercise is excellent for sorting out your bodies biochemistry and also for working out any emotional reactions to earlier trading sessions. Its also the only thing proven to keep the aged mentally alert (so, yeah, it helps :))

 

I do meditate but funnily enough find that it doesn't help my trading - it hinders it. I think its because I come out so relaxed. To trade well I have to be slightly on edge with my inhibitions finally tuned to balance my greed and fear. That means my patience, discipline and aggression all in line. So I psych up from time to time during the day rather than tuning out.

 

But that's just one persons style and experience.

Share this post


Link to post
Share on other sites

I do. If I sit or lay down I tend to be asleep within a few minutes. So I enjoy a slow martial arts workout instead. Nice and focussed and works on your body and mind at the same time!

Share this post


Link to post
Share on other sites

I have the Holosync demo CD ... it does seem to work ... is there a way to make it trading specific?

 

The "new age" market is filled with snake oil salesmen. That being said, I have used Holosync, and do think it works.

 

My mind races often, I can slow it down and seem to have good mental control. I can focus on one thing if I really try, it has to be something I really want to focus on like a chart. I try to feel the market participants and what they were thinking as the auction shifts its equilibrium.

 

The more I go down the road of psychology and it's role in the markets, the more in tune I'm getting with my own psychology. This has been quite the journey for me. :)

 

I'm gonna look into Holosync and some more on NLP as well since NLP has come up in my studies allot.

Share this post


Link to post
Share on other sites
Psychology is the key to success in trading and hypnosis / meditation is the best way to get into the optimal state.

 

What is your definition of optimal state? Do you have any research you can point me to that hypnosis/mediation is the best way to get in the optimal state?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date : 31st March 2020. Dead cat Bounce!Dead cat Bounce! A new term? Not really but definitely something that we haven’t seen for more than a generation.In general, investors throughout the years invented this term as a follow up to a market free fall. By definition, the “Dead cat Bounce” is simply a market phenomenon that translates into temporary small and short-lived rebounds of an asset’s price within a prolonged period of downside. This term is based on the idiom that “even a dead cat will bounce if it falls far enough and fast enough“. Hence in the financial market it is said that even if an asset falls with a considerable speed, it would rebound as even a dead cat would bounce. However, every time there is a rebound, the overall initial trend is then anticipated to resume, bringing the bearish influence back into play.In addition, the phenomenon can occur in any market, yet is particularly prevalent in equity markets. It is often the case that it is considered a continuation pattern.Why are we raising this topic now? This March, was the first time after Black Monday 1987 that we have seen the worst intraday selloffs in stock markets. Since February 20th, the stock market entered an aggressive bear market with a few days of an absolute rally. An example was the 13th of March in which the stock market roared back in the biggest one-day rally since 2008 after its worst single-day crash in 33 years just a day before. This is the classic dead cat bounce.If you closely observe stock market behaviour in March you will notice that there is a dramatic decline, with a number of days when the market reversed some of its losses, but failed to take the bait, and eventually fell back down again. This is a situation of portfolio managers wanting to sell some of their positions and when they see some strength in the market, decided to unload. This is what we call a “dead cat bounce” after it falls from high enough. Remember however that not every correction/reversal can be interpreted as a dead cat bounce.Theoretically this term is defined as the term in which,   A stock in a severe steep decline has a sharp bounce off the lows. A small upward price movement in a bear market after which the market continues to fall. Unfortunately, I need to highlight that there is not an easy way to determine in advance whether an upwards movement is a dead cat bounce which will eventually reverse quickly or whether it is a trend reversal. There is nothing easy in identifying the bottom of the market. However to a large extent a dead cat bounce is a retracement, in comparison to a reversal, i.e. it is temporary.Dead cat bounce as a technical analysis tool and more precisely as a continuation pattern could be tradable from short-term or medium term traders. Having explained this phenomenon, a follow-up article will elaborate on how market participants can trade a dead cat bounce.Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date : 30th March 2020. MACRO EVENTS & NEWS OF 30th March 2020.All major countries across the world are effectively locked down now as virus developments remain in focus, with ever bigger aid packages. The data this week especially from the US were highly infected by the pandemic. Hence, as disruptions from COVID-19 have begun to catch up to the soft data measures, the impact will likely be greater in the late-month measures of sentiment. Recession fears could be further escalated if we see any effect in the March US jobs.Monday – 30 March 2020 Harmonized Index of Consumer Prices (EUR, GMT 12:00) – The German HICP preliminary inflation for March is anticipated to decline at 1.4% y/y from 1.7% y/y. Pending Home Sales (USD, GMT 14:00) – Pending home sales rebounded in January to 5.2% m/m, however, for February we could see a big -0.3% pull-back. Tuesday – 31 March 2020 Manufacturing PMI (CNY, GMT 01:00) – The NBS Manufacturing PMI is expected to massively decline to 4.4 in March from 35.7, as a subsequence of the shut down after the lunar new year holiday. Gross Domestic Product (GBP, GMT 06:00) – GDP is the economy’s most important figure. Q4’s GDP is expected to be unchanged at 0% q/q and 1.1% y/y. Unemployment data (EUR, GMT 07:55) – The German unemployment rate in March is expected to have increased to 5.1% from 5.0%, while unemployment change is expected to have peaked to 30K from February’s drop to -10K. Consumer Price Index (EUR, GMT 09:00) –HCPI inflation dropped back to 1.2% y/y in February from 1.4% y/y in the previous month, while core inflation actually moved up to 1.2% y/y from 1.1% y/y in January. This month’s core is expected unchanged, while HICP is anticipated lower at 0.8% y/y/. Gross Domestic Product (CAD, GMT 12:30) – Canada GDP results for January are seen to be slowing down, at a monthly rate of 0.2% compared to 0.3% last month. CB Consumer Confidence (USD, GMT 14:00) – The Conference Board Index is expected to have decreased to 121.0, compared to 130.7 in the previous month. Wednesday – 01 April 2020   Caixin Manufacturing PMI (CNY, GMT 01:45) – The Caixin manufacturing PMI is expected to spike to 46.5 from 40.3 in February. ADP Non-Farm Employment Change (USD, GMT 12:15) – The ADP Employment survey is seen at 216k for March compared to the 183K in February. ISM Manufacturing PMI (USD, GMT 14:00) – The ISM index is expected to fall to 43.0 in March from 50.1 in February, compared to a 14-year high of 60.8 in August of 2018. EIA Crude Oil Stocks Change (USOIL, GMT 14:30) Thursday – 02 April 2020   Trade balance (USD, GMT 12:30) – The US trade deficit narrowed -6.7% to -$45.3 bln in January following the 11.0% December jump to -$48.6 bln. February’s one is expected to widen further. Friday – 03 April 2020   Retail Sales (AUD, GMT 00:30) – February’s Retail sales could be improved by 0.4%, following a 0.3% January loss. Event of the Week – Non-Farm Payrolls (USD, GMT 12:30) – A -100k March nonfarm payroll drop is anticipated, following 273k increases in both February and January. This is based on assumptions such as the -20k factory jobs drop in March, and a 47k boost from assumed Census hiring as this temporary job count starts to climb more rapidly. The jobless rate should rise to 3.8% from 3.5%, as COVID-19 disruptions start to take their toll. ISM Non-Manufacturing PMI (USD, GMT 14:00) – The ISM-NMI index is expected to fall to 49.0 from 57.3 in February, versus a recent low of 53.5 in September of 2019 and a 13-year high of 61.2 in September of 2018. The “soft data” measures are finally starting to show a hit from coronavirus disruptions and the emerging OPEC price war, and these hits should be bigger for the late-March reports than the early-March reports. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Corona virus is every where, lets hope it passes on and everyone should soon resume to daily routine life. So far the trading is ok since it can be done while sitting at home, what about others remarks do share here..!
    • there is not time line to success, some would take months, others years, at most its a constant continues process of struggle, I have been trading a hotforex account for 8 years now, and i dont think im close to what people call successful, but im happy with what little i make.  
    • forex trading is no joke, its  amoney hole for those who dont know what they are doing. its like a "now u see me now u dont" with money, it takes time to understand and study, it takes years to come up with a working strategy, and tons and tons of patience. some people are better off treating it as a hobbie or a past time really. though ive been in it for a decade now.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.