Ways to Balance Trading and Living
You might have been wondering how to maintain a balanced life with trading and other areas of your life, even though Forex is a 24-hour market. Well, the good news is that it is very possible to balance trading with other aspects of your life. In fact, it is necessary to do so.
As we all know, traders like to spend hours on the chart; to monitor their trades and other possible setups. But what most traders don't understand is that most major moves in the market occur during the opening hours and upon news release. So sitting with your chart 24/7 won't make the market go in your direction. You might even start seeing trade setups or patterns that are not right if you spend too much staring at your screen.
Maintaining a balanced life as a full-time trader is very important to your trading performance. You might have a false idea that the more trades you take, the more you perform. But that is not true. You might take many trades and they will all end up as losses. That is not only bad for your account balance but also your confidence as a trader. So, how do you maintain a balanced life as a trader?
- Start by spending time with your family and friends and if you have a spouse, create a time for them. This will make you feel refresh whenever you come back to your trading desk. Aside from that, it helps to appreciate most things of life. We all know money is not everything.
- Spend time with yourself. Sit down alone and watch the way you think. What you think about and the ways your thoughts are structured. You see, many people run away from themselves and seek validation outside. To be honest, no one gives a damn. You are all you got. The more you spend time with yourself, the more you get to know who you are. If you can meditate, it will help you calm the storm.
- And lastly, create time for what you are passionate about. It could be reading or drawing or anything you like. By doing this, you are widening your level of reasoning. You are not stalked in the trade, eat, and sleep cycle. You have time for other things and they will help you to improve your performance in your trading.
Having a bird' eye-view of your current situation does the magic of making you see other better ways you have not imagined. Some people are very good at looking ahead but not good at themselves from the top. It is one thing to plan, it is another thing to have a good understanding of your current situation. Taking a look at it makes you understand what you have done well and what you have also done wrong. Now you know your strength and weakness.
I decided to take a look at my trading statement a few days ago. I realized that I hold positions for too long. Although that might be a good thing for long-term trading, it is bad for short-term trades because they either end up as break even or just a small profit. And this is just one of the things I realized.
Do these little things and see how well your trading performance will improve.
Let me know what you think in the comment section.
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