I have often said that the psychological aspect of trading is the difference between winning and losing.
So I thought I would discuss one of my major failings which is something you would do well to consider yourself.
I feel I have conquered most of my trading demons, but one that I was still battling with up until quite recently is simply trading to often trying to cram too much in.
I tend to get the bit between my teeth and rapidly go from one event straight on to another.
Sometimes I would trade from very early in the morning until late at night. The schedule does not help either, many of the events that I trade get packed into the weekend and because I understand the markets that I trade and the strategies that I use so well its easy for me to keep on going.
However what I did not realise is the physical and mental effect it was having on my mind and body. It’s was only after I had stopped for the day that I realised just how tough I was being on myself.
If you were working for someone else, would you go 18-20 hours without so much as a bite to eat or a half hour break? No of course you wouldn’t and you shouldn’t!
My results at times have certainly been affected in the past. As a result I decided to take certain steps to avoid over trading as much as possible.
Before you trade (preferably the day before) check out the following days fixtures and note the times that they start.
Choose the events your strongest in and allow plenty of rest breaks, through-out the day.
When you take those breaks remove yourself completely from your trading environment. Make an effort to go and have a chat to your Wife or help your children with their homework that kind of thing.
Go outside for a walk get some fresh air in your system. There is life away from your PC!!
I promise you taking these simple steps will have a positive effect on your mind and in turn your results, it certainly did on mine!
Hi i have been researching systems and strategies for sometime now.