No forex trader is unknown to “trading” stress. One of the biggest challenges of trading in a highly volatile market is to cope up with stress efficiently. Don’t make the mistake of assuming that losses are the only reason why a trader may remain stressed while dealing with a 24-hour market. The way the market functions itself might as well see traders grumbling about their fast-changing fortunes. Acquainting yourself with the ways of combating stress itself is part of your learning curve as a trader. Intense stress can often cloud your power of reasoning thereby leading to consecutive losing streaks. Provided below are a few ways in which you can prevent it.
Resort to a proper self-care regime
What do you think is the most common offshoot of stress? Mood swings. A potent way to keep your stress under control is a proper self-care regime. You need it more if you’re a full-time trader. Full-time traders are known for skipping meals, staying glued to their computer screens, sleeping less and turning to frequent use of alcohol. Not recommended at all! On the contrary, you should do the opposite of everything that’s mentioned above.
Sleep well since it eliminates fatigue and prepares you for a fresh start the next day. Don’t drink alcohol since it intensifies fatigue. Exercise regularly. Don’t skip meals (take them on time) to avoid health complications.
Find outlets for your mood swings. Meditation, reading (if you like books), a brief stroll in fresh air and taking proper breaks between trading can help.
Stop being hard on yourself
This happens when you’re too competitive. Nobody is asking you to let go of your competitive spirit. However, you should understand that when you’re too competitive you tend to focus more on the negatives. That’s not good news. The right approach however, is to put things in the practical perspective. Instead of emphasizing only on the negatives, you should maintain a record of all your trading strategies and the way they have performed till now. For every time a particular strategy has not worked, look out for instances when they have worked for you. Develop a sense of gratitude instead of seeking reasons to grumble. Doing this can help you improve focus.
As many sagacious traders have pointed out, it is really helpful if you’re wearing a suit even while you’re trading from home. The feeling of slipping into your nightwear remains a coveted one in that case- just as it would have happened if you were trading from your workplace itself. Don’t embark on a “regime less” approach just because you are working from home. Plan your working hours for the week way ahead and try to keep up a semblance of work-life balance.
Exercise patience while taking your first step towards trading. And, what exactly is the first step? Choosing a broker! Knowing that you’re guided by a reputed name in the industry only gives you the much needed peace of mind. In this regard don’t forget to consult easyMarkets. Their services are backed by a long history of customer satisfaction.