If there was one thing that I learned from playing sports, it was that pregame routines are important. I used to wonder why we did the same thing over and over. Can’t we mix it up a little? Keep things interesting?
Well there was a reason for doing the same thing before every game. It got our minds focused on the game and was something familiar and calming. Upon doing a little research, I found some pretty funny pregame rituals. Click here to see some of the best ones.
The thing is that as traders, we need to have a pregame routine too. I was listening to a couple of legendary traders talk about the importance of a trading ritual, so I figured it must be important. Click here to see a recent post from fellow forex trader Ryan O’Keefe about his trading routine.
So I decided to adopt my own routine. First I put in my earphones and crank up my iPod. Then I do something similar to this:
I actually do play Low Rider by War before I start trading. It has a good beat to which I can visualize myself making good trades and my account balance going up. I always stop listening at the first break.
Next I create a new page in my journal. I update my balances and carry over my open trades or open orders.
Then I scan my charts for possible setups with the pivot point trades I look for. If there are any possibilities, then I note them in my journal and make sure my alerts are turned on so that my mobile phone gets pinged when a setup happens.
If there is nothing going on at that moment, I do some backtesting or log my closed trades here on the blog. So that’s it! Not much to it, but it does help me focus and get in the right frame of mind.
What is your routine?
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