What is the first thing you do before you start trading?

bsbZenbsbZen Posts: 84
Hi all,

Before i will start to trade i wanna make sure mine head is clean and very motivated and relaxed as well to start mine trading sessions. Also very important for me is that i need a cup of coffee first before i will analyse the charts :)

What is your first thing that you will do before start trading? Or maybe you have some advice to give to all members.

Kind Regards,

BSB Zen

blueskybinary.com



Comments

  • ShaunRShaunR Posts: 61
    Hi BSB Zen

    I do something similar to you...

    Usually, before I trade, I go through what I term 'a preflight check' which involves a bunch of things, some of which are:

    * Reviewing my trading journal of the previous 10 - 20 trades taken
    * Expressing sincere gratitude for all the abundance in my life
    * Reconfirm my goals for the session
    * I then clear my mind and simply watch the market for 10 - 15 minutes to get in synch with the rhythm. If work is really busy I cut this down to 5 minutes.

    When ready I take 2 or 3 'paper' trades and then hit it with a big stick.

    Have you ever watched a sports superstar go through a pre-action routine? They do certain things with their bodies, and you can see that, simultaneously, there is a movie running through their mind. This is a process to anchor themselves into a peak state of performance (Tony Robbins), in order to deliver their best, as demanded. This routine puts the athlete into the 'zone' of peak performance.

    I do my fair share of public speaking, and I have my own anchoring routine that I do before going on stage. This process gives me immediate access to my best state, regardless of whether or not I slept well the night before, have a headache etc. I deliver the best experience I possibly can for my audience each and every time.

    My preflight check routine is the same process for my trading.

    Thanks
    Shaun
  • MalvridMalvrid Posts: 46
    When I wake up and have a difficult trading day ahead of me, I go for a run. A little physical activity help keep yourself alert all day, also when I feel a little drouzy, it's good to take a 5 minute break and do some stretching, there are special exercises for office workers, which suit traders just as well.
  • BossBoss Posts: 31
    Before opening an account with a broker, I read the conditions, research about them using different resources. and it's always good to test them in action, whether it's a cent, demo or real deposit, but with a small sum at first.
  • illodillod Posts: 49
    for me it's important to be morally gathered. That's why before begining to trade I always try to drink some coffee and finish all other things, so as not to get distracted with anything.
  • sumeesumee Posts: 5
    The moment I wake up, I go to the bathroom to refresh everything, make breakfast and a cup of coffee. Then I clean up things and check my previous trading records of yesterday before starting to trade again.
  • BruceTaylorBruceTaylor Posts: 4
    edited July 2
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  • joseluisjoseluis Posts: 1
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  • The_Geek_MHThe_Geek_MH Posts: 464 mod
    OK, thanks for telling us. But you're in the wrong thread, feel free to start a thread of your own and tell us all about it. We definitely want to know. Sory to hear you got burned.
  • jamesthomesjamesthomes Posts: 8
    Hi everyone,
    Your Net Worth Needs to Become the Primary Personal Finance Number You Care About.

    First of all, what exactly is “net worth”? Net worth simply means the total value of everything you own – your home, your car, any valuables that could easily be resold, and the balances of your checking account, savings accounts, and any investments you have – minus the total of any and all debts you have – mortgage, credit cards, student loans, and so forth. So, if I owned a house worth $100,000 and a car that I could sell for $10,000 but I had $50,000 in student loans (and no other debts), my net worth would be $60,000.

    More than anything else, your financial focus should be on this number and how you can make it bigger. There are a lot of ways to make it bigger: paying off debts, not spending money on foolish or wasteful things, improving your income, and, yes, investing.
  • Zamorano29Zamorano29 Posts: 3
    ShaunR said:

    Hi BSB Zen

    I do something similar to you...

    Usually, before I trade, I go through what I term 'a preflight check' which involves a bunch of things, some of which are:

    * Reviewing my trading journal of the previous 10 - 20 trades taken
    * Expressing sincere gratitude for all the abundance in my life
    * Reconfirm my goals for the session
    * I then clear my mind and simply watch the market for 10 - 15 minutes to get in synch with the rhythm. If work is really busy I cut this down to 5 minutes.

    When ready I take 2 or 3 'paper' trades and then hit it with a big stick.

    Have you ever watched a sports superstar go through a pre-action routine? They do certain things with their bodies, and you can see that, simultaneously, there is a movie running through their mind. This is a process to anchor themselves into a peak state of performance (Tony Robbins), in order to deliver their best, as demanded. This routine puts the athlete into the 'zone' of peak performance.

    I do my fair share of public speaking, and I have my own anchoring routine that I do before going on stage. This process gives me immediate access to my best state, regardless of whether or not I slept well the night before, have a headache etc. I deliver the best experience I possibly can for my audience each and every time.

    My preflight check routine is the same process for my trading.

    Thanks
    Shaun

    Really good post this. I find it to be very similar to what I do and what I would recommend to others.
  • yasimyasim Posts: 4
    edited July 18
    Coffee, relax and then concentrate.
  • fromBrighton1fromBrighton1 Posts: 4
    Great thread.

    Some kind of physical activity and short meditation just to set mind on right track helps me a lot.

    Before session I make cup of coffee and write down some goals that I want to achieve which will keep mind on track and prevent distractions, that works well at least for me.
  • Mikehills101Mikehills101 Posts: 6
    Nothing too special just a normal day for me. Early morning exercise, talking to my wife, have breakfast and listening to music that gives me a good vibe or a chill vibe.
    Proud Member of Investing Slack Group - an exclusive investing chat community.
  • mrTradermrTrader Posts: 5
    I trade after my day job, so I have some time at the night. I have some tea and concentrate on my trade goals.
  • RestrictoRestricto Posts: 11
    Preparation for trading is one of the most important moments in all of trading.
  • The_Geek_MHThe_Geek_MH Posts: 464 mod
    Restricto said:

    Preparation for trading is one of the most important moments in all of trading.

    Thanks for the deep insight, I am sure it took you years to develop that theory.
  • PanXPanX Posts: 23
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