Hitting your target

Stay Focused on Your Target

The goal of a professional archer is to hit the centre of the target with each arrow he shoots with. His focus is on the red circle which is the exact middle of the board. He has trained himself to only focus on that location. Anything outside of that circle is not in his vision at this precise moment.

The archer draws the bow with his left hand and pulls back the arrow with his right. He pauses for a moment before releasing the arrow, and then the sound of air being split is followed by a thud. Another precise hit and another trophy for the mantelpiece is on its way.

As a trader, focusing on your target means that you must first know what your target actually is. Too many traders jump in and out of trades without an aim. Instead they hope that this is the one that will enrich their account but sadly only to find that they aimed in the wrong direction. Some traders play a game of moving targets. One minute that are in a trade and the next minute they are out and in something else. They repeat this exercise endlessly not even realising what they are doing. They are caught up in a frenzy of chasing a moving target.

Back to the archer, picture how calm and poised he looked before shooting the arrow. His focus was so deep that he would not have heard the scuffles in the audience or felt anything outside his body. He and the arrow together with the target became one. He blocked off everything outside and concentrated fully on the moment. This requires preparation and discipline.

Each trade is like each arrow being shot independently. Each requires just as much focus and preparation. Although I might have three or four trades running simultaneously, each one is being treated independently and each one with the required attention and focus it deserves to make it a winning trade.

Once a person has been trained to perform with precision, theoretically they should hit the target every time. But this is not always the case. In the archer’s situation, maybe he was not feeling 100% physically. In that case he should not have been taking the shot. Maybe it was too windy.  Here, he could not have done anything to control the external environment. But in most cases, it is more likely that there were distracting thoughts or doubts in the mind that prevented the individual from performing at his best.

Once you are poised to take a trade based on your method or system, ignore all outside noises and focus on making this the best trade. Treat each trade individually and prepare yourself mentally to take the necessary steps to perform as a top trader. If you are a technical trader, pay attention to the chart and not the news. This is your trade based on your opinion. Do not ask somebody else’s opinion because they will surely give you just that – their opinion.

Once the trade has been initiated, focus on your exit point. Ignore all outside noises and act according to your trading plan to make this a winning trade. If there were outside circumstances to veer your trade of course, then accept it. It was not you at fault that the trade lost and you did your best accordingly. If you follow this type of trading plan, you will find it easier to becoming a professional trader and also your journey to stress free trading will be shortened.

What the world’s best performers and athletes seek is to be fully connected and focused. Developing your ability to do this is critical for consistency and success. This is a trader mindset that can be learned, practised and perfected.

Until next time, I wish you safe trading.

Sandy Jadeja | Chief Market Strategist

sjadeja@odlmarkets.co.uk