Maintain Your Mindset by Linda Bradford Raschke

http://www.lbrgroup.com/images/SFO_July04.pdf

Like others, I have had to stretch and
grow as markets and products have changed over the years. The markets
continually cause me to reaffirm rm my values and reflect on my own self identity,
and even after all these years, I keep vigil against fear and doubt.
Thankfully, I am blessed with the knowledge of how powerful a tool positive
thinking can be and with the ability to implement this tool on a daily
basis.

I wish I could say there was a point where I felt like I had “arrived.”
More often than not, however, I feel as though I am not even close to
reaching that point. I have come to accept the fact that this business is
nothing more then a continual process to be taken one day at a time like
so many other endeavors in life. For me, the term “trader” has become
synonymous with “lifestyle.”

Positive BrainwashingOK, knowing my game is helpful, but just because I know my game
does not mean that I will be successful at it. There are numerous steps
that must be taken outside of market hours in order to do well during
the trading day. I can go through the motions of preparation, organization
and outside research. But, I still do not think these are the things
that guarantee success. The great equalizer for me is that I believe I will
succeed. I have brainwashed myself on a daily basis into believing I will
succeed, especially during periods when inevitable doubts have crept
in. A positive mental attitude is a form of religion to me.

Self-talk is the way that we speak to ourselves, and sometimes negative
thoughts are very subtle. For example, if a trader says to him or
herself, “I have to do well” or “I need to make X amount of dollars this
month,” this type of thinking automatically creates stress and anxiety.
Anxiety causes emotional decision making during the trading day.
Emotions invariably lead to losing trades.

The Three R’sLet me leave you with the three “R’s” I use as a way of maintaining a
mindset and keeping focused: record keeping, rituals and research.