Routine and mindset: strengthening your trading psychology

One of the biggest factors in becoming a successful trader isn't a miracle indicator or a secret strategy.

It's having a solid routine before you sit down at your screens.

You need to treat trading as a real profession, with habits and a daily routine.

Why you need a trading routine

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The world's best traders all have one thing in common: a routine they follow religiously.

That isn't a coincidence. A good trading routine changes everything.

It's the first step towards avoiding cognitive biases.

You're conditioning your brain to trade well.

It's like warming up before a run. It can prevent an injury.

Imagine waking up in the morning and, instead of stressing about what you're going to do, knowing exactly how your trading day will unfold.

You go for a jog when you wake up, analyse the markets at a set time, trade at another...

Everything is in place and organised.

The result? You're calmer, more focused and, above all, you perform better.

Here are the main benefits a routine can bring:

Better emotional management: a study from NYU School of Medicine showed that a routine helps you manage emotions by giving your day predictability and structure
Better performance: you use your time more efficiently and focus all your attention on your trading. Your analysis becomes more precise
Less stress: no more wondering what you should do each day. You're mentally ready to start your trading day well
More time: yes, a routine frees up time for the things you enjoy, whether that's sport, video games or reading

You can see why emotions are a trader's number one enemy.

You've probably noticed my routine is simple.

There's a good reason for that: I can repeat it every day, wherever I am.

It puts me in the right mental state to trade.

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A trading routine needs to be realistic. There's no point setting yourself activities you can't keep up.

I know traders who start their day by walking the dog, followed by a session on the PlayStation.

As you've probably gathered, a trading routine needs to fit YOUR personality.

Yours, not your neighbour's!

Here's how to create one:

Think about your ideal day. What could you do every day that would help you feel mentally and physically ready to trade?
Write down all your ideas and detail each part of your day
Start following the routine
After a week, look at what's working and what isn't
Adjust the routine accordingly
Repeat until you have a routine that suits you perfectly