Constructive Inner Dialogue For Traders

by Olivier on November 18, 2010

Tonight I thought I’d highlight a bit of the conversation continuously going on in my head. I actively engage in self-conversation in order to constantly remind myself to focus on a sound and emotionally detached approach to trading. It pretty much goes along the lines of one of my favourite trading quotes:

Have the courage to say no.
Have the courage to face the truth.
Have the courage to do the right thing because it is right.
- W. Clement Stone

An inner dialogue typically reinforces the way you think. So the goal is to consciously expose yourself to thoughts that ultimately will positively impact your trading. Through the use of repetition you can considerably strengthen a positive attitude and sound trading behavior. The beauty of it is the simplicity of the method. It’s entirely up to you which trading mantras you want to adhere to. Here are a few that I strongly believe in and that characterize my thinking as a trader:

A trader should have no opinion. The stronger your opinion, the harder it is to get out of a losing position. – Paul Rotter

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Related posts:

  1. The Need To Be Right – Common Psychological Traps For Stock Traders
  2. Winning Traders Commit To Not Wanting To Be Right All Of The Time

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