Boredom Traps When Investing and Trading
Solid trading is not always as exciting as we’d like it to be. Once you get over a few basic humps, trading can go from heart stopping excitement for one minute to mind boggling boredom for the rest of the day. The highs are so awesome that many traders are tempted to try to recreate them where they can, and find themselves taking unreasonable risks in order to promote a little self induced excitement. Of course, it doesn’t generally work out that way, and either big losses ensue, or a little more of the solid, slower paced, (shall we saying boring?) trading enters the picture again.
Trading for the sake of bringing up the excitement level generally is good way to lose a little money, waste a little mental energy, and leave the market base open for wider interpretation. Because the skill of executing good, solid trades is the name of the game, patience and boredom are often not that far off the mark for many traders. Since you are not a gambler but someone who makes money from a very volatile market, boredom doesn’t often last for extreme lengths of time. Being bored, however, can be a physically unsatisfying feeling. Some people find they need to eat, others smoke a pack in two hours, and others need to get up and get their body in motion because boredom can be rather physically distressing.
We live in a society where we believe that productivity comes from being busy. This is not always accurate, and it is definitely not accurate in specific change to the market. There are times when all a successful trader can do is linger about and wait for that perfectly golden influx in the market. For novice traders, this concept coupled with the physical and emotional discomfort that boredom brings, down time when the market is simply not useful at all can lead to some pretty hefty mistakes.
Boredom trading leads to bad habits, not to mention that while you’re off trading on a bum trade, you are missing opportunities to get some better information regarding up and coming trades that can actually butter your bread. It might not seem like a really big deal in the beginning. But the trading habits that you develop in the early stages are likely to stay with you for quite awhile. And making a concerted effort to change them can be time consuming and even a little demanding.
There are certain activities that you can use to keep boredom from becoming a terribly destructive obstacle in your trading career. If you can get physical, whether that means a tread mill, a jump rope, or some weights to keep the blood moving while the market runs through its cycle, by all means, go for it. This not only helps to alleviate the boredom but it also helps to keep your mind psychologically healthier and more prepared to deal with market as conditions start to change.
If physical exercise just isn’t your thing, grab a crossword puzzle, a Sudoku game, or a drawing pad and get creative. While the market runs through its fluctuations, your mind needs more than just the span of ticker tape. It needs to be occupied, engaged, and fulfilled. Small items as such don’t take up much space but can give your mind a little exercise can be stashed in your desk and ready for play whenever you find the boredom setting in.
Of course, you could always study and learn a little more about the trade, but you should take a break from the situation altogether when market conditions prevent active trading. For all that we do to combat emotional drag and trading under duress many traders find that boredom can be their biggest downfall. Just like any profession, there are bound to be times when it just isn’t all that much fun. Keeping the mind and body acutely away from boredom is just one of the many steps toward successful trading.
If you would like to immensely improve your trading and investing results, check out www.secrets2trading.com
AND for a Limited Time, you will also receive a FREE copy of a limited number of the amazing book “Trading In The Zone” which is jam-packed with daily trading ideas and psychological preparations to instantly improve your trading and investing performance.
