Saturday, 27 September 2014

Life of A Day Trader - The Weekend

For some traders the weekend is a difficult time.  They have an itch to trade, are worried about their negative trades, or are regretting all the "things to do" they pushed off to the weekend.

When you trade for a living you need to manage your time.  Don't lie to yourself.  Don't push things off.  Keep a list.  Just get to things when you can.  Only put target dates for important things...  Like "Exit all trades before NFP".

Weekends are often best spent doing anything but trading.   When you train in the gym or play sports you need a day or two in between to recuperate.  You should do the same when you trade.  Take a time out.  Step away.  Overtrading like overtraining will catch up with you.  Sometimes it's good to take a week or two off entirely.  Notice how your work outs become more fun and bring better results when you get back from time off?   Same goes for trading.  Just like in relationships, when one door closes, another will open.  Missed a trade today?  Don't worry, one will come along soon enough.