Till now, we have come across problems dealing with specific mental states. Most traders find themselves in a losing position in the market. They want to attain mental states which will make them confident in the market. They also want some motivation. In this article, we will look at these critical states and how they can be put into practical use. You will need to use these formulas again and again, which may require you to read the article multiple times.
There are two ways of dealing with negative states. The first is to “listen” to yourself and not take any decision based on what you hear. The second way is to see the positive intention behind the negative state when it occurs. In the next section, we will learn how to deal with some common negative states that many traders face regularly. These include anger, anxiety, impatience, frustration and regret.
Getting rid of anger is a combination of various techniques. There can be some parts of the technique that work for you and some not. To get rid of anger, first, you need to recognise that you are angry. Change the breathing pattern. Realise that your anger has occurred because some important value of yours has been violated. Determine that personal rule that is broken. If that rule is not important, abandon it and repeat the first step. Keep the rule, only if it is worth keeping.
When you feel anxious, take a deep breath and let it out slowly. You feel anxious because you are not adequately prepared for something. You at least have a got a signal that you need further preparation. Every situation imparts behaviours that will enable you to cope with situations appropriately. This behaviour may include gaining more information, developing certain skills or simply being more confident. Imagine yourself in the future with new solutions. It will help you to face each situation with a better state of mind.
This state also requires you to recognise that you are impatient. Impatience is a signal that you need protection from the consequences of not carrying out some task immediately. This signal can be used by you to overcome the problem. Put yourself in a resourceful state. From this resourceful state, select behaviour that will protect you and will not hurt others. Think about yourself carrying out the task in future. You will feel more confident. If you do not follow these steps, impatience can be a severe problem.
Step out of yourself and dissociate yourself from frustration. Watch yourself being frustrated. Notice the difference. Frustration comes when your goals are not met. So, determine your goal and decide if it is worth keeping or not. Put yourself in a state which is the resourceful state, to know when you were able to solve the problem. From this state, determine a few approaches for meeting your goal.
Remember a time in the past when you made a decision, and after making this decision, you were able to take control of your life. Take control of your life now just like you were able to take last time. Realise that feeling of regret occurred because you made some mistake. Be thankful that you got a signal to avoid this type of mistake in the future. Recall the times when you were able to correct the mistakes because you knew what to do. Feel confident about doing this again in future.
People acknowledge supportive states less than negative states. They only think of getting rid of negative states, but never think of accessing positive states. The common techniques for rid of negative states are first by dissociating and recognising the positive intention behind it. Once the negative state is removed, you can move to supportive states. The three main supportive states for an investor are inquisitive, motivated, and happy.
The criteria for being inquisitive include giving openness to new input in your life and that new element being in active control of yourself. Everything needs to be taken control by you. Start asking questions to yourself, especially questions related to personal significance. Find answers to those questions, and you will automatically become inquisitive.
The criteria for motivation have goals that are personally significant to you. Keep a future time orientation and speed up your mind. Discover the elements which motivate you. Once you get answers for these questions, take the situation in which you will be more motivated and adapt to it. As you remember the past, increase the intensity and excitement involved.
Happiness includes the criterion of being satisfied with what you have now at more than satisfactory level. Think about where you are now. List at least ten blessings you have, that others who are less fortunate do not have. As you think about those blessings, this will make you happy naturally.
The purpose of this article was to summarise some of the critical mental states for investors and traders. With this, you understood the primary characteristics of these states and how do they get triggered. Imagine yourself in the future, armed with all the important mental states. Attain a state of confidence, and with the new solutions, you are adequately prepared to face any situation that you will come across in the market. Always try to be in the supportive states and make sure your trading performance is not getting affected by your negative state of mind to be a happy and successful trader.