Have you ever had one of those days? Your charting software wasn’t working properly, your internet connection was too slow, and you forgot to read the latest economic report from the week, so you’ve missed out on all the good opportunities.
All of these events are just a few of the sources of stress that the average active retail trader must deal with. Not dealing with these episodes properly, and allowing them to build on each other, can overwhelm you.
When you think with a tense mind and body, your mind is not focused, and this can mean danger to your trading.
This is why it is important to have a clear mind and be calm and calm while trading.
Prolonged stress can be harmful not only to your trading, but also to your trading health In general.
In a previous article, I recommended taking a vacation as one of the most effective ways to reduce stress associated with trading.
Unfortunately, it may not always be practical or possible (for various reasons such as money, time, family, another job, and did I mention money?).
But don’t worry!
There are plenty of other things you can do right now (without having to spend money) that are effective at reducing stress.
Practice!
This is a no brainer.
And don’t think you have to run out and buy a gym membership. Taking a nice quick walk around the neighborhood during your trading downtime will do the trick.
Exercising helps relieve stress That accumulates during crazy trading sessions, and keeps your body feeling relaxed and refreshed.
Reduced caffeine and other stimulant intakes.
Forget obsessing over buying from Starbucks or drinking 2 liters of soda…alone…within an hour…sitting in front of your computer!
Caffeine can be great at times, giving you a boost when you need to stay awake. But it can also make you hyperactive and panicked at the wrong moment.
Trading is stressful enough in itself. Don’t let caffeine add to the mix!
Express yourself.
The stress you feel is often a result of something other traders are also going through; We all trade the same markets, right?
Hop on a Forex Forum To discuss what is bothering you or what is not working for you.
You will discover that simply talking about your trading stresses with like-minded people can be of great help in reducing their negative effects on you. And you might learn something too!
Don’t stress yourself out by trading outside your skill level.
Set clear risk limits and set realistic goals.
When you’re just starting out trading, you want to… Keep your positions small. Trading beyond your skills will make you more anxious about your open trades, potentially hurt your account balance, and cause more stress!
Stress will wear you down mentally and physically if it goes unchecked and untreated. Take the time to identify some of the things you are currently doing that help reduce your stress or follow some of my suggestions to get you on your way.