Path to Becoming a Forex Guru: Mindfulness and the Morning Routine

This article was written by Rob Freeman, an industry financial expert.

'The early bird catches the worm' - a variation of this saying exists in almost every culture. And it is this sound wisdom that every successful Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trader should take to heart: learning to attack the day from the first moment is perhaps the most important habit that any trader can adopt.

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An early start aids your energy levels and concentration. Just like any other part of the human body, even the sharpest of minds will become fatigued by work through the day. In a highly technical – and often stressful – working environment such as the currency markets, forex for beginners can prove to be a demanding and mentally exhausting pursuit. Trading when you are at your sharpest is, therefore, a matter of common sense.

However, mental stamina is just one factor. Rising early will also provide a greater degree of flexibility in your decision-making processes, too. Learning techniques, which optimize the way you use the finite time that you have at your disposal, is important for both your success and your health. These techniques of self-discipline and peace of mind are most commonly known as 'mindfulness'.

Mindfulness Activities to Master

There is a wealth of scientific evidence that suggests that the first two hours of your working day are the most productive; even the most focused and motivated of individuals will experience a natural slow-down in their accomplishments by around 3pm.

As such, the earnings you generate at the start of the day should be considered the core of your day's trading: everything that is achieved later on may be considered a welcome bonus. However, what are the practical steps you can implement to guarantee early morning success stories?

• Eating healthily is always sensible, and one should never skip breakfast. Instead, opt for a healthy option that affords slow release energy throughout the morning, such as oatmeal, granola, or porridge.
• Many successful entrepreneurs rely on the energy boost that they receive from an early morning exercise regime. Whether you choose walking, running, weight training, or yoga, a program of exercise first thing in the morning energizes, rather than exhausts, the body. Many experts count on technology and personal devices to help them implement their morning exercise routines. If you struggle to adhere to your schedule, this can be a useful aid.

Next comes mindfulness itself.

• Spend ten to fifteen minutes before work to establish your goals for the day, focus your mind and levels of concentration, and put aside other distractions. Fifteen minutes of mindfulness meditation enhances your focus and will benefit your attention to detail when you require it the most. Put simply, 2-5 minutes of focusing on your breath and surroundings can help put your day back into perspective.

Finally, make a habit of achieving.

• The most successful forex traders have learned to set small achievements into their 20-minute morning routine. This can be something as small as making your bed or answering all of your emails before 8am. Whatever you choose, select one task that you complete right before you start work. It is the initial accomplishment that the rest of your day is built upon.

Beyond Your First Mindful Morning

Of course, once you have established a successful routine, the next stage is to repeat that same pattern of mindful preparation each and every day. Some high achieving individuals, including Mark Zuckerberg and Albert Einstein, have taken the practice to an extreme, by wearing exactly the same clothing every morning, so that their mind does not become distracted by the trivial concern of choosing which clothing to wear.

But if you’re a sucker for fashion then, relax, there are a plethora of other ways to be foster your disciplined mind. While it is not necessary for a forex trader to select a uniform, the practice acts as an illustration of the mindset of successful individuals: they clear their mind of all distractions and help their concentration.

So, rather than wearing the same clothing every day, commit to the same breakfast; the same ten minutes of meditative thought; the same ten minutes of exercise. Every repetition of a twenty-minute morning routine will reinforce the benefits of mindfulness, in your thoughts and conduct.

A mindful approach will, in turn, enable you to better realize each of the other Ten Commandments of a successful forex trader.

What is the path to becoming an #FX guru? https://t.co/ja1u0dcBJn pic.twitter.com/T2WQ8fJita

— Finance Magnates (@financemagnates) October 31, 2017