Day trading is hazardous enough without having your mind sabotaging you. Yet that's what a lot of day traders do. Then they wonder why their bank implodes. Using the law of attraction in your day trading is an excellent tool to add to the charts or fundamentals that you already use. And having the right mindset could be all that you need to turn your trading into profit. Here's how …
If you've not come across it before, the law of attraction simply states that what you think about most is what you will attract into your life.
And if that is the first time you've heard that assertion, it's likely that the first thought that comes into your mind is "Rubbish". After all, you're constantly running the numbers, backtesting and refining your system. Surely the thing you're thinking about most is how you're going to spend your first million?
Our minds sometimes move in mysterious ways – especially our subconscious mind, which is the part that deals with all the boring stuff that keeps your body going, day in, day out, without you having to think things like "it's time to blink my eyes again "or" must take another breath and pump some oxygen around my body ".
Your subconscious also deals with targets and attraction. And it's this part that is helped by applying the law of attraction.
If you have a little nagging voice that pipes up every time you think about making your fortune with day trading, that's where you need to start applying the rules of the law of attraction.
Some of the works that teach the subject imply that there's no effort involved in attracting stuff. Although that's true to an extent, it's a bit like saying that all you need to do to turn a profit from day trading is to scalp a few pips or take a trade at a peak or trough, that kind of thing.
If only day trading was that easy, we'd all be rich!
The truth is that – as with near enough everything that makes you wealthier – there is a lot more detail hiding just below the surface.
The good news is that you don't have to apply things like stochastics or pivots or anything complicated like that to get the law of attraction to work in your favor.
The bad news is that you do have to do something to help make it work!
Start by working out what it is you want to attract with your trading. Probably the easiest way to do this is with a daily or weekly or monthly amount of pips. If you prefer, it could be a percentage of your bank.
You've probably got this lurking at the back of your mind already but you may not have totally formalized it. Now's the time to do that.
Write down your target. Read it out loud on a regular basis (no matter how self conscious this makes you feel at first).
What this will do is start to get your subconscious mind round to the way of thinking that you're serious about the amount of cash you're going to make from your day trading. And once that "clicks" it will start to work with you rather than against you.