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I have to admit, I am somewhat of a minimalist trader.
After one too many angst-ridden dissections after a period of poor trading performance, I deleted all my indicators in a fit of fury and they never returned. But this post is not a celebration of naked (no indicator) trading, although I could rave all day about the clarity and serenity this simplified approach has given me.
I’m not saying you need to delete all your indicators as I have done. There are as many styles of trading as there are traders. I’m just saying don’t be afraid to get rid of superfluous information on your charts and don’t be afraid to simplify your trading methodology.
The simplification of our trading method brings clarity to our trading mindset and this extends to the rest of our life. But it's even more exciting than that, it also works the other way around.
Simplification of our life in general brings clarity to our trading.
Decluttering our external world brings about positive decluttering of our internal world. This can have an amazing effect on our trading mindset.
The less cluttered our internal world, the more clearly we can see what’s going on when we interact with the markets.
Yogis the world over will no doubt have heard the expression “let go of that which no longer serves you” and this is a great starting point if you are a bit stuck on knowing what to keep and what to get rid of.
Is that email subscription to traderX’s stock picks serving you? Is it helping you become more effective in spotting potential trades or do you find you often end up getting grumpy and unsure of yourself as you disagree with his analysis?
Do all those monitors improve your trading or do you find the extra information causes you additional stress?
Decluttering your trading workspace can be a cathartic, not to mention profitable endeavour, but don’t stop there!
If you have felt any improvement to your mental state after a small clear-out you might be itching to extend the spring-clean to the rest of your life. Don’t for a moment think this will have no bearing on your trading. Far from it.
Whatever the extent of your decluttering, just getting rid of the unnecessary stuff that adds to our internal mental noise is a simple, tangible thing we can do to increase our trading clarity and improve our lives at the same time.
Have you found decluttering to be a powerful tool in developing a clearer trading mindset? I would love to hear from you so go ahead and leave a comment below.