To many outsiders, trading might seem like an easy task. You just sit around your computer, pay attention to the news, enter a few trades, and the money comes rolling in with little effort. Yet real forex traders know how stressful it actually is and how much goes into making trading decisions. All of the stress can lead to trading burnout, which is also caused by certain circumstances, including personal losses, bad market conditions, unmet goals, trading too much, etc. If you’ve found yourself in a slump lately, you’re likely dealing with trading burnout, so read on to find ways to deal with this problem.
Look for Warning Signs
Sometimes, you’ll just know that you’ve been overworking yourself because you’ll notice the physical symptoms or just feel like you’re no longer interested in putting in an effort. Other times, burnout might sneak up on you and you’ll go on stressing yourself out without dealing with it at all. You can start by knowing the signs of burnout so that you’ll more easily recognize when it’s happening to you:
- Physical symptoms, like headaches or sickness
- Issues with overeating or not eating enough or the desire to drink more than usual
- No longer caring about your trading plan or results
- Little desire to trade when you once enjoyed doing it
- Doubting your ability to trade
If you find yourself displaying any of these symptoms, it’s better to take a step back and deal with the problem rather than to continue on trading like nothing is wrong. These symptoms will affect your life negatively, especially physical symptoms like headaches. You’ll also see a hit to your trading results, as the lack of motivation can cause you to stray from your trading plan and to put less effort into your trading decisions. If you don’t believe us, just try looking back at your trading journal to check how your profits have changed since you first began dealing with the stress.
Fortunately, there are some steps you can take to help de-stress and to become more invested in trading again so that your results will improve:
-Think back to when you first started trading. You were probably nervous but full of passion and excitement. Remember when things started making sense when you realized your trading plan worked, or the first time you made a profit. Try to revisit your happiest trading memories from the early days before you let it stress you out.
-Try to find someone you know that you can share your feelings, results, and ideas with when it comes to trading. If you don’t know anyone that does trade, try turning to online message boards to stay engaged with others that have this similar interest.
-Sometimes, you might just need to take a break from trading and spend some time doing something you enjoy. Whether that comes in the form of a trip to the beach, pampering yourself, or going out for a nice dinner, spending some time doing something less stressful from time to time can help you get your head back in the game.
-You can also take an off day every now and then and just rest if it helps. Giving your mind a break can allow you to start fresh the next day.
-If you find that you’re often stressed because you aren’t meeting your goals, try setting smaller goals, or revising your trading plan if it requires too much from you.