Currency Trading Information Channel |
|
|
|
Creativity in Trading"Is it important to be creative in your trading?" I'm not sure I can describe it in terms of importance. The creative process is somewhat of a mystery, even to scientists who study it. There are a few common characteristics that all creative persons possess (such as an openness to a variety of internal and external experiences and a driving need to express one's sense of individualism), but for the most part, exactly how the creative mind makes earthshaking discoveries is unknown. A few prerequisites are necessary, though. The mind must be focused, for example. New ideas must flow through the mind freely, and there must be a wide range of ideas, so that they can be combined and re-combined in new ways. New and creative trading ideas are necessary to stay ahead of the crowd, so doing whatever you can to prepare your mind to brainstorm new ideas will help you develop creative trading strategies that are the foundation of profitable trading. Many great scientific discoveries were made almost by accident, through a serendipitous observation. Had an untrained eye made the observation, it would have been missed. But because the scientist's mind was continuously running through a wealth of ideas, he or she saw a new discovery in a seemingly ordinary event. Discovering new trading ideas is also a creative, intellectual endeavor. You must get your creative juices flowing in order to see the next new idea. It's essential that you "prime" your thinking processes, get your mind ready to make a creative observation. In some ways, your mind is like a well. You prime a well to get the water flowing, and once it's started, it flows continuously. You must similarly prime your mind to get ideas flowing. Various ideas in your mind are stored in a hierarchical structure. Information is stored together in a clump, depending on its meaning. When you aren't thinking of a particular topic, it's hard to bring information about that topic into consciousness; it lies their stagnant and hidden. However, when you make a concerted effort to think carefully about a specific topic, or a closely related topic, and start running through a bunch of possibilities, all kinds of new possibilities become apparent. Your mind quickly scans various concepts and ideas, almost unconsciously. Suddenly this wealth of information combines and you see something new. For example, suppose you develop a vague trading idea about how a set of indicators may forecast the price of a particular stock. Once you get the basic idea in your mind, you can prime your mind to get the creative juices flowing. For example, you can scan a set of charts to back test and find support for your hypothesis. As you look through the charts, the information you see will prime other related information. Soon idea after idea will coalesce, and you'll make a new discovery that will serve as a basis for a new trading strategy. The main point is that you must set your thinking processes in motion to come up with a creative new idea. Some traders even suggest putting on a small trade based on a hunch in order to set your creative processes in motion. When you put on a trade, your adrenalin starts to rush, your attention starts to focus, your senses are heightened, and you suddenly change your perspective until you see new ideas. The more your mind is active, the more likely you'll make creative new discoveries. Knowing about the creative process and how to set it in motion gives you power. Some people are down on themselves because they can't seem to think creatively. But they can. They just need to know how to do it. It's vital to be relaxed and free of anxiety. But it's also essential to prime your mind in order to start the process. So when it's time to think of a new trading idea, think creatively. Set your creative processes in motion. You may come up with a big idea that will make you huge profits. Joe Ross Joe Ross, trader, author, trading educator is one of the most eclectic traders in the business. His 47+ years include position trading of shares, and futures. He day trades stock indices, currencies, and forex. He trades futures spreads and options on futures, and has written books about it all - 12 to be exact. Joe is the discoverer of The Law of Charts?, and is famous for the Ross hook? and the Traders Trick Entry?. Trading Educators, Inc. The Team at Trading Educators is composed of an international blend of experienced traders, all educated and proficient in the Joe Ross methods. Our professional staff trades regularly in the markets. Since its foundation Joe Ross and the Team at Trading Educators have taught thousands of satisfied customers who use Joe's concepts to produce significant profits in today's markets.
MORE RESOURCES updated Fri. March / 29 / 2024 Stock market today: Asian shares are mostly higher after another set of Wall St records Sunbury Daily Item Best Currency Pairs to Trade in 2024 Admiral Markets Foreign exchange contact group (FXCG) European Central Bank Stock market today: Asian shares trading mixed after Wall Street's momentum cools San Francisco Chronicle 3 Best Forex Brokers for 2024 NerdWallet FX: When OMS meets EMS Euromoney magazine What's the Best Forex Trading App? 10 Top Forex Mobile Platforms Admiral Markets Yen steady after intervention warning, dollar dips Yahoo Finance This Is How You Make Money Trading New York Magazine Forex Today 28/03: Fed's Waller: Slow on Rate Cuts, No Hikes DailyForex.com Dollar gains on euro with Fed's Waller hawkish on rates The Economic Times Morning Bid: Yen traders on tenterhooks Yahoo Canada Finance Europe Playing Bigger Cryptocurrency Role ETF Trends EUR/USD Analysis Today 28/3: Pressures Ahead (Video) DailyForex.com CHF/JPY Forecast Today 29/3: Carry Trade Indicator (Chart) DailyForex.com EUR/USD analysis: Will US dollar retreat again? FOREX.com US Towards Increasing Complexity: The Evolution of the FX Market - Liberty Street Economics Liberty Street Economics - USD/TRY Forecast Today 28/3: Struggle Against USD (Chart) DailyForex.com Forex Trading for Beginners NerdWallet Why Is the Forex Market Open 24 Hours a Day? Investopedia 10 Forex Trading Tips for Beginners in 2023 Admiral Markets Rupee trades in narrow range against US dollar in early trade The Economic Times EUR/USD Forex Signal Today 29/3: Drifting Lower (Video) DailyForex.com China's New Currency Playbook Council on Foreign Relations EUR/USD Analysis Today 27/3: Tight Range Trading (Chart) DailyForex.com AUD/USD Signal Today - 28/03: AUD Weakness Noted (Chart) DailyForex.com How Often Do Exchange Rates Fluctuate? Investopedia Trader's Case Tests DOJ's Policing of Global Currency Market The Wall Street Journal USD/PKR Analysis Today - 28/03: Steady USD/PKR Trend (Chart) DailyForex.com Forex Today - 27/03: Japanese Yen Hits 34-Year Low DailyForex.com USD/JPY Forecast Today 28/3: Aims for 155 Yen (Video) DailyForex.com How can blockchain platforms make currency trading cheaper? Financial Times Gold Forecast Today - 29/03: See Upward Pressure (Chart) DailyForex.com USDBRL Analysis Today - 26/03: USDBRL Range Reversal (Chart) DailyForex.com EUR/GBP Forecast Today 29/3: Choppy Trading (Video+Chart) DailyForex.com USD/MXN Analysis Today - 25/03: Bearish USD/MXN (Chart) DailyForex.com USD/SGD Analysis Today - 26/03: USD/SGD Reflexive Range DailyForex.com Trading Costs - Trading Charges FOREX.com
|