The Psychology Of Success In Trading – Show Notes
In episode 107 of the Desire To Trade Podcast, I interview Silke Glaab, a psychologist based in Dubai. She has been trained to guide people to have it All: success, fulfilling work and money – and romantic love, a great partnership, and family.
Silke accepted to come on the show to share some of the principles surrounding the psychology of success in trading.
More specifically, we tackle the 5 steps to staying vibrant and energized all day as a trader throughout the interview. Those can be applied to anyone for more success in trading any market!
More About Silke Glaab
She completed a Master Degree in Psychology from Munich University with a Cross-Cultural experience and 15 year Training and Advisory career with positions held as Training Manager at T-Online for Technical and Customer Care Support, Research Assistant at Psychiatry Ulm for Quality Assessment and as Project Consultant for German International Cooperation (GIZ) in Kenya prior coming to Dubai.
With her profound knowledge in NLP Master Coaching and Hypnotherapy (Marisa Peer method), she can assist you to elevate your brain power, change limiting beliefs of your subconscious mind and release stuck energy in minutes so that you can align your personal goals with our highest mission!
I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.
Share This!Breathe, because it's powerful. - Silke Glaab Click To Tweet
Key Takeaways From This Episode (provided by Silke)
Keep Your Perception Fresh
It is the ability to become aware of something through the senses. However, there are millions of sensual information reaching your brain every second.
The actual perception is a distortion of the all the incoming data and is linked to already stored information and expectations. And we're not consciously aware of that.
So, if you're checking on the same charts every day your brain compares the incoming info with already existing info and matches it. This can lead to misinterpretations of new info.
How To Improve: To see more success in trading, challenge your brain by changing your routine all over, include breaks and stay focused for at least 20 minutes.
Feelings & Thoughts Work Together
A thought is an idea or opinion produced by thinking(about yourself, others, trading, the world) or occurring suddenly in your mind.
The quality of the thought depends on your biology, your emotional state you're in. It can be triggered by incoming information from the environment (senses) or from inside your body (feeling).
Stressful or incongruent situations create chaos in your brain and as a result making it impossible to think clearly or to come up with new and creative solutions.
When you change the context (emotional state) in which thoughts emerge, you can change the quality of the thought.
Further, 95% of our thoughts are subconscious and they're running their programs in the background.Therefore, affirmations often do not work, because they target the conscious mind.
A feeling is a conscious awareness what's going on in your body. Like with anger, your heart beat goes up, blood pressure rises, muscles tense up, your attention narrows. Often you're not aware. And you're still thinking what you're thinking and doing what you're doing and it's not your best performance. Feeling and thinking are interrelated. A negative thought results in a negative feeling and negative feeling results in a negative thought.
And you're still thinking what you're thinking and doing what you're doing and it's not your best performance. Feeling and thinking are interrelated.
A negative thought results in a negative feeling and negative feeling results in a negative thought.
How To Improve: Uncover your limiting beliefs and change them in an instant and reprogramme your mind in minutes with Psych-K.
Emotions & Awareness
Emotions are energy in motion. The result of all physiological inputs creates an emotion in the brain.
How To Improve: Become aware of your feelings throughout the day to navigate them throughout the day. Take control of your emotions and shift your emotion towards the flow zone of passion, focus, determination, containment, and curiosity. Move away from anger, frustration, anxiety, boredom, detachment. Methods: Breath, Label and Embrace your feelings, Bilateral stimulation…
Listen: The Most Valuable Insights On Trading Psychology – Andrew Menaker
Control Your Physiology
Physiology is a stream of date from all physical and chemical processes in a living organism to the brain.
How To Improve: For more success in trading, you must control your physiological state. This is done through getting an instant grip on your emotional state towards a flow state and become crazy productive by controlling your BREATH. Dr. Alan Watkins recommends a Breath which is Rhythmic, Even, And Through your Heart. Other things are sleep, exercise, nutrition.
Resources Mentioned In This Episode
- BECOME INCREDIBLY SUCCESSFUL – adopt the habits of successful people: https://silkcelia.com/success/ (free mini-training)
DesireToTRADE Top Resources
- DesireToTRADE Forex Trader Community (free group!)
- Complete Price Action Strategy Checklist (free checklist!)
- One-Page Trading Plan (free template!)
- DesireToTRADE Academy
How To Find Silke Glaab?
What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!