For the months from November to February, I was in a trading rut.
I did not trade much during that time. And when I did, I was anxious and hesitant to the exent that I often could not even enter trades.
My wife even suggested a few times that trading may not be the right thing for me.
Then, I read the book "Trading In The Zone". What a mind-opening book!
It sounds so simple what Mark Douglas writes.
First I thought that he is repeating too much. But looking back, I'm glad that he does. It actually takes time to really absorb the deeper meanings. And repetition helps.
The main themes are:
- Knowing, understanding and changing the underlying beliefs that cause many (new) traders to make trading errors such as hesitation, not honoring stops (letting losses get bigger), taking profits too early (scalping), setting stops too tight, etc.
- Learn how to trade like a casino. Thinking in probabilities.
- Acccepting the risks involved when trading.
- Internalizing 5 fundamental truths about trading and the market.
It wouldn't do the book justice to try to explain the finer details in a short blog post. So I don't.
At least for me, it helped me tremendously to understand the real reasons behind my hesitation. I identified the limitating beliefs that are holding me back. And I followed the author's advice on how to deactivate the old beliefs and install the new belief that "I am a consistently profitable trader".
Since finishing the book, I made more trades in two weeks, than in my four months down period.
I also made my first short-sells and I love it!
I feel that I am more relaxed, calm and hardly feel any anxiety before and during a trade.
Time will tell whether this is the beginning of my consistency. Would be nice, if it is.
I can't promise that it will do the same for you. But I really hope it does.