The index futures trader…

I received an interesting email recently from a 11+ year experienced index futures trader who wanted to know if a particular program would enable him to take his trading to the next level.

At first I wasn’t sure which program he was referring to and also at what level he was trying to get to, let alone which level he was currently at.

But it wasn’t long before I realized he was referring to a program aimed at reprogramming the mind, and after an exchange or two he struck me with what I feel was a very significant point.

He said “I have a very, very successful trading method I employ now. Because of that, I KNOW that taking it to the next level, I am talking 7 figures here, is a function of me and not the method.”

He went on to say “That is where my search started, to break down the barriers that must exist otherwise I would already be at the next level as defined by million dollar per year profits. Trading is really easy….it’s mastering ourselves and emotions that’s challenging. I fully embrace that I am in my own way. It’s how to get out of that way in the most efficient and results producing manner. I have done a lot of work over the years and the more work that I do, the more I realize that it all lies within me….both the problems AND the solutions.”

I just felt that to read this from a fellow trader; so honest and humble was the hallmark of someone who is not far from opening that door. But what it also highlighted was that the barrier to what ever level we are trying to reach next is always within.

It doesn’t matter if it’s going from 3 figures to 4, or 6 figures to 7, the level you are at now is the level your sub conscious has of you, which is otherwise known as your self image.

Changing the self image is not easy and it is a process, because it is not part of our genetic make up, nor is it something that is taught as a standard thing. But here are some tips for you.

Write it down and get clear about what it is you want to achieve. If it’s a particular income level then so be it. This is the first action you need to take. Also whatever you write, put it in some place that will remind you often.

Take a screenshot of your account statement, and then edit it in paint or some other online editor, and change the balance to that of your desired level; and then use this screenshot as your computer desktop theme.

Visualize how you want to be. Do this by closing your eyes and spending 5 to 10 minutes seeing yourself as being that person. What would you do, how would you go about your day if you were at that new level.

The next thing is to learn to relax your mind. The reason for this is simple. If you want to get to the next level, you’ll need to make better decisions, and better decisions are made by those who are more relaxed. A relaxed mind is also far more receptive than a stressed mind, which enables you to seek more answers to your questions.

To relax your mind, close your eyes, take a deep breath through your nose; hold it for a few seconds, and then release through your mouth. Do this for about 3 minutes and if you find your mind wandering, simply focus it on a single point in your mind. One I use is to think of the tip of my nose, and as I breathe in, I feel the tip of my nose get warmer. It works for me.

Relaxing your mind decreases mind chatter, and mind chatter unfortunately creates varying levels of confusion and frustration when we are seeking the answers to something.

Some of this stuff may seem esoteric, especially from a trading perspective, but I can assure you, if you are willing to be open to it, and give it just a few minutes a day, you’ll be pleasantly surprised. Even with the breathing exercise, you should immediately feel your muscles relaxing more as the built up adrenalin in your muscles from constant stress is being released.

Happy Trading

Dean Whittingham
Financial Market Fisherman
Pentagonal Trading © 2004 - 2008

This entry was posted on Monday, June 2nd, 2008 at 9:23 pm and is filed under Dean Whittingham, Financial Market Fisherman, Futures, Mindset, Pentagonal Trading, Trade Profitably, Trading Plan, Trading Psychology, Trading System, Wealth Creation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.