Wednesday, August 27, 2008

Masters Of Excellence - Doug Goeckel

(SPY)(QQQQ)(DIA)

Each week CFRN will present an article written by Professional Trader and Mentor Doug Goeckel. Due to a publishing delay on our end we are presenting 2 articles this week.

Foundation in the Mind
I was truly appreciating the Olympic athletes as I watched the daily competitions. I listened as the commentaries discussed the mental preparation that was part of an athletes training for success. These athletes must perform on queue. We must trade, on queue. Two words come to mind, practice and discipline.

As a man thinks within himself, so he is – Proverbs 23:7

Every day we have choice to declare the things that will happen in our trading business. We are the ones that will choose our attitudes and how we will allow them to affect our trading.
How you think about your self, will set the course of your trading career.

Discipline
Successful Trading requires as much discipline as the Olympic athlete. We must be able to turn this on every day we choose to trade. Those who have challenges with discipline will experience challenges in their trading careers.

Preparation
Have you prepared your mind for your trading day? Have you prepared your mind for profitable results? Lack of preparation will not lead to success.
Just as the Olympic athletes use visualization, warming up, and practicing before they compete, we must do the same in our trading day. Our trading muscle IS our mind.

I use visualization every morning before trading. I think and see myself as a success before the day begins. One of the scriptures that I find great strength in is “as a man thinks within himself. so is he.” This is one nugget of truth that prepares me for a successful day.

Douglas Goeckel

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