The Daily Market Forecast... Visualization
Friday’s Results: The suggested buy @ 3675.50 ran for 36.25 points.
Quick Tip: Visualization
In sports psychology one highly successful technique is positive visualization. In essence, the athlete will vividly imagine and visualize in the mind’s eye the result of what they are about to do.
Golf is an easy example for clarification. Top golfers, coached by sports psychologists are taught an interesting visualization technique. Famous golf coach and psychology professor Dr. Richard Coop instructs this way:
- Before you take your shot, visualize exactly what it will look like, including minute details like how far it will roll after landing. Jack Nicklaus claimed it changed his game.
- HOWEVER, if you address the shot with even a hint of a negative attitude (indecision, concern, lack of focus, etc.) step back and reframe your mind until you are visualizing the perfect shot.
How does this apply to trading? While traders are not in control of the physical outcome like athletes, they are in control of their thoughts. Those thoughts lead to emotional response, behavior and eventually results.
Practice positive visualization before entering your trades. You won’t change the market reaction, but you will change for the better your outlook and confidence. All successful traders are confident. Otherwise, the alternative, negative emotions, will keep them from success.
Today’s Best S&P Turning Points:
Sell 3773.25 stop 3778.50 (in a fast-moving market consider a stop at 3779.75 and size down).
Buy 3677.75 stop 3674.00 (likewise, in a fast-moving market consider a larger stop and size down).
Trade Fearlessly,
Mike Siewruk
P.S. Did you know there are MANY techniques and formulas you can use to change your personal psychology about trading to improve your results? Learn how to change your unwanted behavior here.