I know a trader should never bring their emotional baggage to the trading table as it will affect our performance. But what if trading is something that is draining you emotionally? Like you ever beat yourself up for not being good enough as a trader? Or do you feel like you are stuck without making any progress? And how do you deal with that? Sorry for asking so many questions but I think we need to address these topics.
Suppose, you took only 0.25% risk on a trade position; then why should you will be so much emotionally attach on that trade? So, your risk ratio is proportional on your emotion level!
I was really angry today, I missed the spike caused by CPI. I was thinking the market will fall, I couldn’t believe my eyes. We keep pushing though.
I have learnt how to detach my mindset - ZEN - from emotional challenges, knowing I only have control over my risk exposure. I have no control over what the market throws at me, so why worry. Just accept it and ignore responding to FEAR and PAIN - that’s the secret.
Thank you for the reply I do have a tight risk management plan but still yesterday was one of those days when I was unable to switch off the emotional side
You are not alone my friend. We really have to push through it all but that’s something we signed up for as forex traders. Anyways, happy weekend! Let’s rest well so we can face the next week head on
Trading is like a job for me, just as you have good days and bad days at work, you have them in trading as well.
It took me some time but I have developed a positive learning attitude. So, even when I fail, I try to take it as a lesson- though sometimes the lesson hits hard when the loss is bigger.
Another thing that helps me keep myself at ease is not thinking about trading in my personal time.
I firmly believe-
If you are away from your trading desk but still thinking about trading, are you actually away from your trading desk?
You should think about it!
That’s sage advice I am mostly detached when I am trading but sometimes it does get a bit overwhelming.
I agree with you 100 %
Thank you for the reply. And yes, I also think that we need to separate our trading life from our personal life.I But sometimes I just want to vent about a bad trading day in order to move on and feel better😅
Restore your mental balance with a session using the I Ching. I find it works like meditation or exercise - it doesn’t matter what question you set out on the session with in your head, the exercise is a healthy mental re-set.
yes, but im just lucky that everytime i feel drained from trading my husband reminds me of my goals in life. So i have no choice but to return back to my chart
Sometimes I feel drained in general and I would say it makes me less productive as a trader. Especially lately, my kids have been getting sick since October (my oldest started school this year), every time we get rid of one thing we get something else. I’ve been running back and forth to the doctor, planning a birthday party, the list is never ending, so my mind is filled with all those things I need to worry about and I can’t focus on trading the way I normally would.
The only way to avoid an emotional draining is to have a clear Gameplay for every trade. Watching price as you are in a trade is the most draining act of all.
Just draw your levels before Opening a trade… define your rules… open the trade and wait for price to hit your levels …
Watching and reacting to price Will drain you. When you have spent enough time on markets you Will know where to place your targets and when you are wrong (stop loss). Just accept and let go
Finally you should not beat yourself because of your trading skills. You need practise… like in any other job. No one becomes a surgeon or a pilot without hours and hours of training… why would It be different for a trader
Thank you for the valuable insight. This is something new to me A mental reset is a must for traders like us from time to time. I am curious to know more about l ching. I came across this book of changes while searching about the term online.
I am always looking for new books to read. Thank you for introducing me to a new philosophy and book
Good to know that you have a supporting partner to rely on🙂 Having a family member or friend as a support system is essential to maintain the balance in life.
Thank you for sharing a piece of your life here. Indeed it’s difficult to focus on trading when you get occupied with other things in life😔But I am feeling inspired after hearing how you are balancing it all with the responsibility of kids and family.It must have been hard for you to deal with everything at once😢I hope you feel better soon. Wishing good health for everyone in your family. And I am sure you are doing your best to get back to trading. All the best for your journey ahead🙂
Thank you for the valuable input! I totally agree with you on the point that watching prices can be the most draining part of trading. But I can’t really leave my screen often when I am scalping But I will try to stop focusing too much on the price action.Practice is something that we can never compromise with. I am trying my best to refine my skills as a trader. Thank you for the tip
Today is one of those days for me, I feel disappointed right now as the last two days have not been good. Maybe I’ll just go back to demo again since forexchief has no limit to their demo, let me go back to the drawing board.
I don’t have kids but every time I attend a party with kids, I always end up sick a few days later. I feel for the parents. But also, everyone seems to be getting sick these days! It’s that time of the year. I hope you don’t typically catch it from them!