Key Points:
- Urgency and excitement can lead to poor trading decisions.
- Mindfulness and grounding techniques are crucial for maintaining a consistent trading process.
- Trading success often requires a significant adjustment in expectations and self-awareness.
Summary:
In this session, Sean Sawyer and the SPP community discuss the challenges of maintaining mindfulness and managing urgency while trading. The session starts with a Q&A, during which a community member shares their experience of getting ahead during a trading evaluation and losing mindfulness. Sean emphasizes the importance of staying present and not letting excitement or desperation dictate trading actions. He suggests that urgency can manifest in various ways, including switching to unfamiliar markets or adjusting targets hastily.
Sean highlights that trading is a long-term journey and reminds the community members that less than two years into trading is still early. He advises giving oneself grace and maintaining consistent grounding practices, such as walking. Sean also touches on schemas and how past experiences influence present trading behaviors. He encourages the community to reflect on their trading decisions and maintain a routine that supports emotional intelligence and self-awareness.
“People who have experienced success always have the hardest job with trading time. They need to shift from expecting success to reinforcing it.”
– Sean Sawyer
C.L.E.A.R. Mindset Connections:
- Connect to the present moment and enhance your self-awareness with practical techniques.
- Staying present and suggests writing down trading experiences to reflect on them and gain insights.
- Loosen your attachment to thoughts and emotions, and cultivate mental clarity and resilience.
- Not letting urgency and excitement drive trading decisions and suggests grounding practices to maintain clarity.
- Embody your core values and align them with your actions to foster authenticity and purpose.
- Reflecting on why you trade and ensuring your actions align with your long-term goals helps maintain consistency and authenticity in trading.
- Accept all the present moment offers, whether wanted or not, and find peace and strength.
- Accept where you are in your trading journey and giving yourself grace for not being perfect can help reduce self-imposed pressure.
- Respond with decisive, informed action, transforming challenges into opportunities for growth.
- Writing down and reflecting on trading decisions provides valuable data for future actions and helps make informed trading choices.
Actionable Strategies:
- Write down your trading experiences and reflect on them to identify patterns and triggers.
- Incorporate consistent grounding practices like going for walks into your daily routine.
- Maintain a routine that supports emotional intelligence and self-awareness, such as mindfulness exercises or journaling.
- Reflect on and align your trading actions with long-term goals to ensure consistency.
Act Accordingly:
This session underscores the importance of mindfulness and self-awareness in trading. Sean and the SPP community discuss the challenges of managing urgency and maintaining a consistent trading process. By incorporating grounding techniques and reflecting on trading decisions, traders can better navigate the psychological aspects of trading and foster long-term success.