Is Meditation good for your mind when trading forex?
Well, meditation has a ton of benefits whether you trade or not. It can benefit your overall mental health when done consistently and can also help you stay centred and give you inner peace.
I personally only started meditating regularly earlier last year. I had heard about the benefits of doing it consistently quite a few years ago, but until this year I would just try it here and there, or listen to the odd guided meditation on YouTube.
Unless you are practicing it consistently, you are not going to see the results that it brings as I found out.
After doing it consistently, I feel much calmer and centred, and I am able to block out thoughts that just a few months ago would have plagued me all day. After you have been practicing for a while, it’s certainly easier to block out those unwanted thoughts that usually come and go on a somewhat daily basis.
I also find myself getting much less stressed, and it’s also easier to concentrate on the task at hand without my mind wandering off somewhere else making me much less productive.
So I guess in answer to the title of this post: “Is Meditation good trading?” I would say that it will definitely help you become more focused on the charts, and it will also help with your emotions when in a trade. This has been one of the things that has really helped my mindset and take my trading to another level.
One app I use to help me meditate is called “Waking up”. You can get a free 30 day unlimited trial here (no credit card required) where you can try it out and see if it’s something that could work for you too.
As much as it takes time and effort to do this consistently every day, I promise you will see results if you stick with it.
So are you going to try meditating to help you become a better trader?
Let me know your thoughts in the comments below.