[TradingPro]

MEDITATION, MOTIVATION and TRADING

I strongly stand by the necessity for meditation for EVERYBODY wanting to take on the career of trading and to be successful at it.
Without this we are locked-in to an inflexible world-view that may not be a helpful one for trading.

It would be very interesting to hear from those practicing meditators that have practically applied their practice to the world of trading.

I’ll start off the discussion by mentioning that I find the whole field of motivation ESSENTIAL, both for trading and meditation.
By grace or karma this conviction was realised through a deep investigation as to precisely why I was moving out from a lucrative professional career in Japan and into the trading business many years back and I can openly admit that this research has tremendously promoted the “bottom-line” of my trading businesses more than any other single area of technical or fundamental research.

Upon first reflection most may well find that their motivation is “money” and so I would implore that you look past this if this is where you find yourself focussing. I suggest this, also with conviction, because in my “deeper” investigative conversations with the more successful traders that I have had the pleasure to meet there is indeed a common thread here. Sure it can easily be said that those with money can indeed then look past the money and we appear to have a catch 22 here, however it is my point here that correct motivation is an essential precedent to “money” as opposed to the other way around.

Explore it, investigate it, play with it and talk about it here, it would be very good to hear and share what others feel, have done and are continuing to do in this area both on a practical and maybe even the metaphysical level.

I fortunately have the motivation to help others and this helps me and those I am fortunate to share with. What helps you?

Grant

[MightyMouse]

Originally Posted by TradingPro »

MEDITATION, MOTIVATION and TRADING

I strongly stand by the necessity for meditation for EVERYBODY wanting to take on the career of trading and to be successful at it.
Without this we are locked-in to an inflexible world-view that may not be a helpful one for trading.

It would be very interesting to hear from those practicing meditators that have practically applied their practice to the world of trading.

I’ll start off the discussion by mentioning that I find the whole field of motivation ESSENTIAL, both for trading and meditation.
By grace or karma this conviction was realised through a deep investigation as to precisely why I was moving out from a lucrative professional career in Japan and into the trading business many years back and I can openly admit that this research has tremendously promoted the “bottom-line” of my trading businesses more than any other single area of technical or fundamental research.

Upon first reflection most may well find that their motivation is “money” and so I would implore that you look past this if this is where you find yourself focussing. I suggest this, also with conviction, because in my “deeper” investigative conversations with the more successful traders that I have had the pleasure to meet there is indeed a common thread here. Sure it can easily be said that those with money can indeed then look past the money and we appear to have a catch 22 here, however it is my point here that correct motivation is an essential precedent to “money” as opposed to the other way around.

Explore it, investigate it, play with it and talk about it here, it would be very good to hear and share what others feel, have done and are continuing to do in this area both on a practical and maybe even the metaphysical level.

I fortunately have the motivation to help others and this helps me and those I am fortunate to share with. What helps you?

Grant

I started meditating every day over a year ago and found it very, very helpful in getting me in the right mindset, mentally, to interpret the market. I started with 5 minutes, then added time and added time.

I found that after a while i did not need to meditate every single day, since i began to get right in that zone whenever i sat in front of the screens. I completely recommend that everyone do it who trades with discretion.

[TheNegotiator]

I find meditation is very helpful. Anyone who has doubts should google - meditation and hippocampus.
I'm not pretending to be an expert on this by any means, but there is intriguing research about the effects of meditation on the brain and in particular the hippocampus- the area responsible for regulating emotion.

Take a look.

TheNegotiator.

[Ingot54]

Originally Posted by TradingPro »

I strongly stand by the necessity for meditation for EVERYBODY wanting to take on the career of trading and to be successful at it.

It would be very interesting to hear from those practicing meditators that have practically applied their practice to the world of trading.

Grant, thank you raising this topic. While I did vote that I think meditation/motivation is very important, I would like to know what form of it you advocate. The field varies from the deeply religious, to New Age, to NLP-type preparation and so on.

Originally Posted by TradingPro »

By grace or karma this conviction was realised through a deep investigation ... that this research has tremendously promoted the “bottom-line” of my trading businesses more than any other single area of technical or fundamental research.

Upon first reflection most may well find that their motivation is “money” and so I would implore that you look past this if this is where you find yourself focussing.

Personally I find it difficult to separate the concept of "trading" from "making money." You mentioned in your opening statement the words "to be successful at it," and these words can only allude to "success" being "money" as opposed to trading for any other reason.

I switched to trading for pips at one time, to try not to look at the dollars as the trade moved, but subconsciously I was still doing the calcs and knew exactly what my bottom line was. If not through the money made, how then would you define "success?"

Originally Posted by TradingPro »

I suggest this, also with conviction, because in my “deeper” investigative conversations with the more successful traders that I have had the pleasure to meet there is indeed a common thread here ... it is my point here that correct motivation is an essential precedent to “money” as opposed to the other way around.

I am struggling with this. The best I can do is to think you are pointing to trading for reasons of the higher-self, as opposed to money. Could you mean that each time the trader steps up to the keyboard and screen, he needs to be mentally prepared to just follow his plan, his rules and his commitment with discipline and poise? At this point, I can not see myself doing the Buddhist thing, or the Christian thing, meditating as such prior to trading sessions. The meditation would need to be non-religious, would it not?

But motivation material ... that is entirely spot on with me.

I strongly believe in motivation - indeed I have even posted (on TL threads) a couple of Youtube links to recorded clips of the late, great Jim Rohn, and I derive great motivation and inspiration from those, to approach my trading with greater alacrity and commitment.

I would be pleased if you too, at a later time in this thread perhaps, are able to share something of your personal technique, and even some of the meditational or motivational (they are different) material that you use.

Thank you for the thread - an outstanding topic and one that should be essential for traders completing "Trading for Success 101." While I am unable to share more in this area, I remain open to learn and develop my mental capacity to function at a higher level with my trading.

EDIT: Can I add to an already-long post ... and just say that I can envisage using trading for higher purposes - eg family support, as opposed to the base need to possess money as such. That view, I am comfortable with.

[Rande Howell]

I teach mindfulness (another way of saying meditation) as part of my peak performance training. Essential. The form is a derivitive of Zen meditation, where the practioner learns to be witness to the going and coming of thought without becoming attached to them. The developing Observer then makes a startling discovery -- You and your thoughts are not the same. This is of enormous value to the trader. I do use guided meditations as a catalyst to jump start the process. I myself have been practicing meditation for about 35 years.
Rande Howell

[aversano]

I do not fully understand how meditation can help you become a better trader? I can relate to it helping a person reach mental goals but with respect to trading?
Speculate on a move, understand why the move is happening, decide if you want to stay in and know when to exit.
After completing the above, move to the next trade.

[kellih]

Very interesting topic, as I have been exploring meditation most recently. To the question of motivation of trading beyond that of money, I would suggest that trading is a way for one to stay focused in the present -- because as Eckhart Tolle has stated, "the present is all that there ever is."

Success in trading (and in life) demands that we remain in the now (the present moment). Thinking about past or future only creates fear, anxiety and worry -- things that we all know can destroy our trading career.

There is an EXCELLENT book recommended by veteran trader, Jeff Quinto entitled "Transcending Fear: The Doorway to Freedom" by Brian Germain.
This book has done wonders in my evolution as a trader! Germain, a professional World Champion skydiver, talks about overcoming fear as it relates to skydiving, but the techniques can be easily applied to just about any situation. He discusses to great length the importance of meditation, as well as being able to relax, focus and flow in the present, as a way to help maintain composure in an emotionally charged situation.

Eckhart Tolle has also said that many may use extreme sports or activities as a way to somewhat force the necessity to focus in the present - to be in the zone. So we could very well regard trading in the same manner - as a tool or venue that allows us to live every moment with greater awareness, to transcend our fears and break through our limitations, to transform our very being, ... and in the words of the US Army, to "be all that we can be"!

[MightyMouse]

Originally Posted by aversano »

I do not fully understand how meditation can help you become a better trader? I can relate to it helping a person reach mental goals but with respect to trading?
Speculate on a move, understand why the move is happening, decide if you want to stay in and know when to exit.
After completing the above, move to the next trade.

At the very least, meditation helps relax your mind, putting aside all "noisy thoughts" so that you can trade with as clear a mind as possible so that you can understand what is happening. Try to calculate 5x7 on a calculator with all the number keys pressed at the same time.

Meditation is a process and therefore takes time to reap the benefits from it. It will not directly improve your trading.