Not to over trade is one of the battles that I have to fight constantly. I always feel under pressure to generate some kind of income from trading which leads me to take trades that are not favorable.
In fighting over trading, I have followed Dr. Brett’s advice and visualize myself as a sniper. Waiting for the right opportunity to show up in front of my sight. I picture myself going through charts and saying “No good R/R, pass” or “Wait until it trades above the 50 DMA again, pass.”
I wrote “BE A SNIPER!!” at the top of every page in my journal to remind me to do the visualization exercises every morning as part of my preparation routine. I will remove it when I achieve the goal of not to over trade.
I have been doing this every morning for about 2 weeks and it has helped me tremendously. Today I received a great article from the Online Trading Academy by Dr. Woody Johnson where he explains the reason why this metaphor works. Check it out here.
