Have you ever tried preparing a meal from scratch?
The idea is overwhelming at first because you don’t know what you have in the kitchen. Plus, there are SO many things that could go wrong especially if your idea of “cooking” is “ordering from an app.”
But then you take a step back and remember that food delivery costs an arm and a leg these days. So, you create a game plan.
You recall the easiest recipes you know and mentally plot which recipe can happen with the ingredients and tools you have in the kitchen. You then see yourself preparing the meal step by step and finishing the meal without any major fire hazards.
Suddenly, preparing a meal is as easy as executing the plan that you have in mind.
By “visualizing” the tools available and the process it takes to successfully cook a meal, your worries take a backseat, and execution becomes your focus.
That’s kinda like what visualization does for traders.
By creating mental images of opportunities and preferred outcomes and experiences, traders can rehearse real trading situations before they can happen.
You can imagine that, with enough practice, “visualization” can help traders control emotions, build confidence, and focus on executing trades more accurately.
Feel like trying it out but don’t know where to start? Here are a few tips:
Set the scene for a successful session
It’s hard to create mental images if you’re hearing TV or remote meetings in the background. Find a quiet space where you can comfortably visualize without interruption.
Take a few moments to relax. Close your eyes and take slow, deep breaths. Allow your other concerns to fade in the background.
When you’re ready, start focusing on a clear intention for the session.
Do you want to focus on managing your emotions during a volatile market? Should you turn your efforts to being comfortable with trading bigger position sizes? Or should you focus on following a specific trading plan with more discipline?
Setting an intention gives your visualization purpose and direction.
Picture the success
With your intentions in mind, create detailed mental images of what needs to happen in a successful trading scenario.
Don’t be afraid to engage all your senses. Picture the charts, indicators, and price action. See the details – the colors, the numbers, and the movements. Imagine the sounds of news updates, your keyboard, or your trading signals.
And then imagine yourself feeling the emotions – the excitement, uncertainty, and then the confidence as you make informed trading decisions.
Focus on the positive emotions associated with a successful trading scenario. Feel the joy, satisfaction, and confidence from executing a trade as planned. Emotions play a significant role in trading psychology, so cultivating positive emotions during visualization can have a real impact on your actual trading.
Reflect and adjust
Just like any trading skill, effective visualization requires practice. Your visualization exercises may change as your forex trading career develops. Your routines may also be modified to reflect your current objectives and difficulties.
You can play around with other scenarios, such as controlling losses, dealing with unforeseen circumstances, or enhancing your trading approach.
With enough practice and adjustments, your visualization routine can give you an edge in becoming a consistently profitable trader.
