Do you ever feel emotionally drained as a trader?

Beginner Questions Trading Psychology
21

I do the same when I feel like I am not in my best form as a trader :sweat_smile: It is good to have such warm up sessions once in a while.

22

Yes itā€™s the season but kids get sick quite often too. Letā€™s stay healthy everyone!

23

Trading can be emotionally draining at times, but it should not discourage us in any way. Staying focused and maintaining the discipline to follow our trading plan is essential.
There will be times when market situations can make us react terribly, but we must understand the importance of trading psychology and risk management there.
Of course, losses should not make us feel bad. It may sound difficult at first, but with practice and experience, it will become easier.

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24

@Gnomonics True! Being discouraged will only add more to the stress. We need to keep trading and remain in high spirits for reaching our end goalsšŸ™‚

25

As a scalper itā€™s OK to watch price while youā€™re in a trade. BUT! Very important, as a scalper you need to finish your job AS SOON AS POSSIBLE. Meaning:

  1. When your market opens, look at what price levels you want to trade, and set an alarm on those levels. Donā€™t watch the chartsā€¦ just wait for the alarm to ring. You can watch like every now and then, in case of new patterns, but donā€™t watch continuosly, or you will drain.

  2. Once youā€™re in a trade, as a scalper yesā€¦ you watch the trade, but if itā€™s really a scalpā€¦ you should be done in 15 - 30 mins tops.

  3. Once out of the trade, take a rest. Even as a scalperā€¦ I only take 1 or 2 trades a day. Itā€™s more than enough in my opinion if you focus only on maximum quality scalping oportunities.

So the summary is that screen/chart time will drain you. Keep it to the minimum.

Finallyā€¦ do not revenge trade. Have a maximum limit. For exampleā€¦ you take to losses on a rowā€¦ just come back tomorrow. Fatigue and Revenge trading is a killer combo for a scalper

2 Likes
26

@averied Thank you so much for the advice. I will take note of these points. I will surely minimise my screen time from now on. Also itā€™s the weekend :blush: Time to rest and reset to get rid of the fatigue.

27

Actually, low risk means low pressure; high risk means high pressure! So, money management is the key point here!

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28

@MithcelRobert Agreed! Risk and money management are essential skills for a trader. Most of the time our emotions are attached to money too. So we canā€™t compromise with that.

29

If I were a scalper, this post is GOLD. Love how actionable all are the tips are!

30

@ponponwei Truly sage advicešŸ‘ Between what is your trading style?

31

It should be understood that the psychological aspect in trading is very important - you need to be ready for any result. It is unfortunate that many do not pay enough attention to this.

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32

@savkimes I had read somewhere that trading is 50% psychology and 50% knowledge. It really is :sweat_smile:

33

Right now Iā€™m just following the blog here, I have a trading journal! But Iā€™m thinking of starting my own trading system instead of just following others. :slight_smile:

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34

Yeah I have 4-5 years trading experience but till now Iā€™m a human being; but the fact is, now I know how to deal with my emotions!

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35

Great :blush: I am also taking my time to learn more. All the best!

36

Experience surely makes us expert in dealing with emotions. No wonder they say experience is the best teacher :blush:

37

Hello @ribspiece,

Here are some articles that you or others may find useful.

Thanks,

Pipzilla :coffee:

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38

@Pipzilla Thank you so much for sharing! I will surely read them :blush:

39

If you are not doing good in trading, that means you need to learn more; so there is no way to punish yourself!

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40

@waltoncharles I am always a learner and enjoy the process of learning too. I think experience is the greatest teacher of all. So, I am trying to learn from it too :slightly_smiling_face: