Can Meditation Help You Achieve Your NFT Trading Goals?
Guest Post by Briana Hilton
Mindfulness meditation is often presented as something that can help you achieve a state of calm, but what if your main goal isn’t to achieve a state of Zen, but rather, to make money through trading? Numerous scientific findings have revealed that mindfulness meditation is anything but mind-numbing.
Studies have revealed, for instance, that meditation is associated with higher academic performance and a higher level of satisfaction—doesn’t that sound like it’s just up your street as a trader? If you like delving into fact rather than fiction and you feel like you need a little convincing before uttering your first “Om!” then read on!
Keeping Your Mind on the Game
One of the most crucial qualities for successful traders is the ability to focus. Because there is so much financial information to sort through, traders need to be able to hone in on the critical, actionable data that affects their trades. Meditation can help with that!
The human brain naturally starts to deteriorate in your 20s but meditation can slow the process down. Studies have shown, for instance, that this ancient practice thickens the prefrontal cortex—the part of the brain that manages higher-order brain functions such as awareness, decision-making, and concentration.
As stated in a 2020 study by S Kajimura and colleagues, meditation reconfigurates the whole-brain networking architecture, thus improving your cognitive and motivational functioning.
Traders, like many other professionals in the financial sector, benefit greatly from mentors, especially when they are running a small trading business or they are new to the game. If you have benefited from the attention and advice of a mentor in the past, then you know that their roles includes providing a different viewpoint, offering unemotional guidance, and helping you overcome tunnel vision.
A good mindfulness meditation coach can help you with these tasks. This is especially true if you are carrying trauma or old wounds from previous experiences, and letting them wrest from the peace of mind you need to ace your trading goals.
In mindfulness meditation, you are encouraged to recognize and accept difficult and challenging emotions, without trying to push them away. The practice teaches you to “ride” through waves of emotions without letting them define you. It enables you to obtain a healthy distance from these thoughts, which is vital when tight deadlines, big goals, and pressure from management is making it hard to focus on your tasks.
Boosting Your People Skills
Whoever thought that traders worked solo has probably never set foot in the business. Seasoned traders know the importance of honing skills like active listening, communication, and empathy. All these are required to work out a client’s needs and deliver your advice in a way they will appreciate.
As busy as you are, clients will sometimes reveal aspects of their personal life that require compassion, and they will undoubtedly remember the times you have lent them a helpful hand.
A 2008 study by University of Wisconsin-Madison researchers has found that meditation helps cultivate compassion and kindness. It manages to do this by affecting brain regions that can make you more empathetic to others’ mental states.
As a trader, you know that this is also vital when dealing with colleagues or managers who are overcome by stress. Within high-stress industries, keeping it cool and relaying your message to others in an assertive (as opposed to aggressive) way are essential to maintain good relationships with internal and external clients.
Some days you wake up and you feel drained. Late nights, stressful calls, and having to juggle work and your personal life can all take their toll. It is precisely when you feel least like it, that you can benefit from meditation.
University of Waterloo scientists have proven that practicing brief sessions of Hatha yoga and mindfulness meditation can significantly improve brain function and energy levels. Consider meditation as a benefit, not only for your energy levels, but also for your happiness and inner motivation.
Mindfulness meditation offers valuable benefits for traders aiming to achieve and surpass their goals. Scientific studies have shown that this popular practice improves focus, cognitive functions, and decision-making abilities. It also helps overcome emotional challenges, enhances empathy and communication skills, and boosts energy levels.
Considering it takes just a few minutes a day, it is a pretty handy tool to have around in an industry that is often characterized by high stress levels.