Centered Trading by Ari Kiev, MD
Successful trading requires the willingness to commit to specific objectives. Here, psychiatrist Ari Kiev explains how to center your state of mind to optimize your trading.
Successful trading requires the willingness to commit to specific objectives, the skill to manage emotion and fear and the discipline to adhere to your trading strategy. The successful trader can juggle these complex tasks by making use of psychological skills to reduce anxiety and tension and decrease the impact of distracting internal and external stimuli. One of the most critical skills for traders is centering , whereby the trader learns to distance himself from the sequence of emotional responses and negative interpretations of stressful and unsuccessful trades that trigger panic, denial, rationalization and avoidance, all of which perpetuate the circle of failure.