Top ways to be highly productive by increasing focus and attention14 October, 2017 by Paula Rodriguez in Forex Lifestyle
In a busy forex market, increased focus is a valuable practice for optimal trading. By boosting your ability to focus, you can efficiently accomplish vital trading tasks for quality results and productive sessions. Aside from skills like decision making or analytical thinking, achieving increased focus can lead to more positive output. During analysis or executions, traders should master being in a more focused mental state for better performance and optimized results.
What it means to have focus when trading
Remaining focused describes one’s capability to set the mind towards a certain activity or task without distractions. Author and life wellness advocate, James Clear, shares that focus is about the commitment to one task while eliminating the option to do others. In his Ultimate Guide on How to Improve Focus and Concentration, he explains that complete focus is the key to becoming productive especially when compared to multi-tasking.
To be able to fully concentrate on the task at hand, the mind has to remain uninterrupted and distractions must also be avoided. Without increasing focus, traders may miss a detail or overlook an important aspect of the strategy. Getting distracted can also mean disrupting any efforts during planning or compromising the results of a trade. To avoid interruptions in performance and thought process, be sure to practice the best ways to enhance focus in a trading career.
5 great benefits of staying focused
Whether it is everyday focus or your focus towards a certain trading goal, being able to efficiently work toward accomplishments can improve the pace of your career. See the top 5 benefits of staying focused when forex trading:
- Encourages better reasoning since traders can efficiently analyze and remember the lessons learned from forex education
- Boosts clarity for better momentum and heightened progress while in a demo account for practice
- Improves the ability to comprehend the world of trading and how to work towards successful trades
- Optimizes efficiency during decision making for live executions and other vital trading activities
- Helps traders acquire a more effective and creative perception on how to approach a certain trading scenarios
How to increase your focus for trading
Increased focus in forex trading plays a vital role as a time and task management technique. In the long run, losing focus could mean losing opportunities for profit as well as not being able to learn from every experience. To help the mind to focus quickly and efficiently, learn how to achieve increased focus when trading forex:
Increase discipline to increase focus
One of the Top 10 Winning Habits of the World’s Billionaires is discipline. Self-discipline is a valuable trait to have in forex trading because of the volatile nature of the forex market. Executions can easily go from well-informed decision making to impulsive trades.
Aside from discipline for efficient trading, you can also use discipline to plan and follow through with practicing focus. When you increase discipline, you set boundaries on distractions and apply better time management. You can better manage the limitations you have for yourself in order to accomplish the task at hand. Once you master discipline for focus, this can be applied for trading goals as well as personal goals. Being highly disciplined can encourage more diligence and self-reliance for increased focus.
Stay grounded with a great strategy
Traders can often lose focus because of the fast paced movement of forex. In a changeable forex market, it is normal to get distracted with the possibilities of a certain trade. The best way to stick to and focus on your trading goal is to remain grounded through your strategy. With the chance of profit, it is easy to stray from the strategy and go a different way in your execution. Because of this, it is vital to create and test a strategy that you can rely on. During times of uncertainty, it is smart to stay true to your trading systems and avoid being distracted by market movement.Focus is not only about achieving a task. It is about staying on track with trading goals. Click To Tweet
Do not entertain discouragement
Discouragement is another form of distraction that lets you lose focus. When you’ve set your goals, you have to concentrate on accomplishing daily activities that enable you to reach that goal. In trading, losses are a normal part of the road to success. Oftentimes, these losses may discourage traders from focusing the goal. Instead of taking a step back, make sure to move forward. Here are great tips to try if you are beginning to feel discouraged while trading:
- Look at your trades or your strategy objectively. Are they really the most effective for you? Being objective about your performance or skills can eliminate feeling too discouraged and inspire optimism.
- According to Dr. Alan Zimmerman, one of the top ways to eliminate discouragement is to “choose the correct perspective over discouragement.” Viewing your progress in a positive light is much more helpful than becoming pessimistic about the process.
- When you find yourself feeling self-doubt, it is vital to acknowledge your strengths and weaknesses. After doing so, build yourself up with your strengths and learn to improve your weaknesses.
- Whenever you feel that trading is not for you, get help from trading sources or seek advice from seasoned traders. This can provide you with inspiration to move forward as well as gaining more knowledge.
- Take a time out to unwind. Sometimes giving yourself a break can provide plenty of encouragement.
Aim to achieve a “flow”
In the new science of positive psychology, creating a state of flow is a result from intense concentration during a task. Achieving a “flow” is when a trader that is deeply engrossed in the work. It is similar to being in the zone. Studies show that this is a period where one’s top skills are being practiced. In order to achieve flow, remove all possible distractions and make use of your strengths.If you are skilled in analysis, try to aim for increased focus and flow when you are studying charts.
“For success, this aspect of positive psychology can be highly beneficial for forex traders. When you are building a strategy that complements your strength, you can easily get into a state of “flow” and enable full concentration in your tasks.” – Positive Psychology and Forex Trading
De-clutter the workspace and the mind
When dealing with the risks and rewards of forex trading, it is crucial to de-clutter both workspace and mind. To increase focus, here are the top 3 reasons why an uncluttered lifestyle and wellbeing is great for trading:
Since forex trading is usually done in one’s personal space, it is essential to create a working area that promotes good work ethics. Learn why it is important to organize the trading desk:
- Allows all trading gear to be in easy reach to improve overall focus
- Minimizes time spent in finding files or tools
- Provides a sense of professionalism and efficiency that can reflect in performance
The possibilities of the forex market can bring out many emotions. Learn why it is highly valuable to de-clutter the mind:
- To enable better decision making without wasting time for second guessing
- Encourages an optimistic and growth-oriented point of view
- Creates more “mind-space” that can be used to optimize trading
Build a foundation through quality forex education
Being able to focus on trading means already having quality forex education. In order to achieve focus, you need to have all the necessary information and learned experience to swiftly go from one action to the next. Doing this will build the right foundation that enables traders to concentrate on the strategy and make correct decisions. To become a successful trader, be sure to learn How to Ace Forex Trading Education.
Before trading in a live account, it is important to apply what you have learned from forex education through a demo account.For optimal focus, practice the best ways to attain increased focus for better trades. Click To Tweet
Optimize your ability to focus
Focus is not just about limiting noise and distractions. It is about achieving higher levels of performance, commitment to the task and strengthening your innate skills. It is a great challenge for traders to improve mental performance and trading knowledge. Much like focus coming from athletes or students, increased focus is one of the best ways to optimize trading character and results.
The ability to focus is a beneficial skill to master when trading forex. In an exciting market, increased focus can help traders execute the planned strategy with minimal distractions. For successful trades, make the effort to practice the different ways to optimize focus.