Stocks & Commodities V. 26:11 (96-98): At The Close by Eliot Brenner

Practice Mindfulness To Increase Your Profits by Eliot Brenner

Emotionally intelligent people know that sometimes it is a good idea to act on your thoughts and feelings, and sometimes it is not. When your mother-in-law offends you, emotionally intelligent people know it is probably best to smile and let go of your angry thoughts and feelings. On the other hand, when you are walking past a dark alley and someone lunges at you, it is probably a good idea to fight or run away.

Trading is no different. There are times when it is important to act on your thoughts and feelings, and times when it pays to let them go.

Mindfulness is a form of Eastern meditation that involves becoming more aware of your thoughts, feelings, and physical sensations and learning to take a neutral, more accepting stance toward them. Over the past 10 years, Eastern philosophy and the practice of mindfulness have entered the Western mainstream of medicine and psychology. For example, psychological research has shown that people who struggle with emotional pain such as anxiety and depression often get better when they become more mindful. Although most traders do not suffer from clinical depression or anxiety, they can still use mindfulness to increase their profits, sense of well-being, and job satisfaction.