You probably remember the taste of victory from a successfully closed Forex deal. A surge of enthusiasm, a surge of adrenaline, motivation and a captivating feeling of success. Approximately the same thing is experienced by a climber who has overcome the next climb to a hill. This is just one of the similar facets that unite such different, at first glance, activities. How are rock climbing and Trading? And how will such an unusual comparison help you achieve your goals in the Forex market?
Traders and climbers: how are they similar?
To become a successful trader, you will have to overcome your fears, insecurities, develop perseverance and firmness of will. Similar skills are necessary for professional climbers. So, traders and climbers, what do they have in common?
- The importance of a positive attitude. What is the probability of successfully closing trades if you start the trading day in a sad mood? Will a climber be able to reach the top of the mountain if he does not believe in his own strength? In both cases, the answer is obvious. A positive attitude and enthusiasm is the foundation for successful trading and climbing.
- Goal setting. In any business, motivation is important. Short-term and long-term goals allow you to stay afloat and constantly grow in both trading and climbing. Keep a diary where you write down your goals for the day, week, month. Try to set deadlines for reaching your goals, such as trying new strategies or trading on unfamiliar currency pairs.
- Ability to survive failure. Every experienced trader is familiar with the feeling of a total failure from a closed trade with a loss. A similar feeling arises in a climber when he breaks down at the very top. Mistakes and defeats are habitual companions in any kind of activity. The more calmly you treat your own losses, the faster you will begin to extract invaluable experience from them and develop a more successful game strategy. And don't forget that failure shouldn't cause you to stop.
- Safety rules or risk management. What would you think of a climber who climbs without a harness? This great analogy also applies to traders who neglect the rules of risk management. It doesn't matter if you are a beginner or a professional, the safety rules are designed to protect your deposit, and in the case of rock climbing, life.
- Attitude to business and psychology. According to various estimates, a positive result in trading by 70-90% depends on the psychological attitude. If you ask a climber what is the most important thing in his business, you may be a little surprised by his answer. In addition to physical training, it is very important to enjoy the process itself. In general, try not only to focus on the result, but also enjoy the process of trading.
Why rock climbing is useful for a trader
Many successful people, including traders, consider rock climbing a sport that helps build discipline and self-confidence. If you want to diversify your trading days with hobbies or sports, you should definitely take a closer look at this type of activity. Climbing will not only be an enjoyable pastime, but will also help you to be more successful in trading in this way:
- Helps relieve stress. Trading is not a game for the faint of heart. A sharp success is often accompanied by the same rapid loss. Climbing will be a great way to abstract and be filled with new forces. Such an active sport gives a tremendous boost of energy and vitality, and at the same time makes your body stronger and healthier.
- Develops self-confidence. Each ascent to the rock leaves a pleasant taste of victory in memory. This state is remembered and each time makes you more confident in your own abilities.
- Develops volitional qualities. Any sport helps. However, the advantage of rock climbing is that you have to reach the goal every time. There are no long trainings and preparatory stages.
- Helps overcome fear. An entire book could be written about dealing with fear in trading. It is the lack of control over such a negative experience that most often leads to losses. Climbing is a real cure for fear. Overcoming more and more difficult routes, you will not notice how you have become mentally stronger and emotionally more stable.
- Discipline. Climbers are distinguished by composure and the ability to plan their time. These skills will certainly come in handy in trading.
- Increases clarity of thought. No wonder climbing is often compared to playing chess. The right move brings you closer to victory, and inattention and wrong steps lead to loss. Thus, you get used to thinking strategically, which certainly becomes an additional trump card in Forex trading.
Life hack for traders
Climbing to the top of a cliff is perfectly associated with a successfully closed deal. If you are not planning to go rock climbing, then we recommend using a simple life hack. Decorate your workplace with photos of mountain climbers who conquered the summit. Such symbolism will positively influence your subconscious and, as a result, set you up for victory.