Trading can be tough, really tough, it can also be stressful and lonely. Spending hours in front of the computer, not really talking to anyone else can be detrimental to both your mental and physical health. It can also be lonely, but it doesn’t need to be. When we look at most successful people, they often have a team of others around them, not only is this for their professional careers, but it is also for their well being, having people around can keep you sane and can also help you stay motivated to do whatever it is that you are doing, in this case, trading.
It is well known that having a good network of support around you is beneficial for things like reducing stress and anxiety, which will give you better coping skills, and an overall sense of well-being. So when trading, we need to ensure that we have these support groups around us, they will make learning and trading a lot more bearable and will keep you going and motivated for a lot longer than you would be doing it by yourself.
Friends and Family
When you move into a new industry such as trading, you often feel that you need to find people who have the same interest, people who are already trading, but this is not necessarily the case, in fact, the people who are best to keep around are the people who are already there There are reasons why they are your friends, they may be easy to talk to, they may understand how you think, they are the sort of people that you need to keep close and to be available to talk to. You don’t need to force them to learn and understand trading, the feelings that you get from trading are the same as anywhere else, so they will understand what you are going through.
Your friends and family are there to support you, if you let them know that trading is important for you if they truly care for you then they will be there to support you through it, they won’t necessarily understand what you are talking about, so getting too technical may be a bit much for them, but for general and emotional support, they are some of the best people for it.
You cannot become a successful trader by yourself, there is never enough time for you to learn everything or to fully understand things without the help of others. While friends and family members being around is great, they do not have the understanding of the more intricate things to do with trading, this is why it is important to find a group of other traders that you can also call on. These people actually know what you are talking about when you mention pips and spreads, so when you have questions about something or need to rant and rave about something in the markets, these people are the ones to call on.
They will also be able to give opinions on your trades, your strategies and you will be able to use their trades and ideas to create new techniques and ideas of your own, using their knowledge to help compound your own, it is also healthy to have debates, to works out what something works the way it does and to ultimately have people around who have a similar mind and interest to your own. There are plenty of places around, forums, message boards, even physical trading groups are available, so it is easy to find others with the same interest, so be sure that you do.
Not something that is a necessity, but if you are learning to trade through a course or program, the mentor and tutor that is teaching you should be an expert in the field and for that reason, they would be a great person to talk to when you need support. Whether it is learning a new strategy or you are going through a stressful and hard time, they will know exactly how you feel and may have ideas on how you can get out of it and start to feel better. The only problem with this is that there are so many dodgy and scam mentors out there, but if you manage to find a legitimate one through your course, they have a wealth of information and tips, and they are certainly a source that you should be utilising.
There are official support groups out there, if you are feeling under constant stress or are feeling that you are removing more into the realms of gambling than trading, then there are support groups out there, in the UK there are gambling support agencies such as GambelAware, in the US there is NCP Gambling, wherever you are there is help available. There is also plenty of stress and anxiety-related services available. Do not feel shame if you need to use their help, it is what they are there for and there are many others going through the exact same thing, otherwise, they would not exist in the first place.
It is important to remember that you are not alone, whether someone has an understanding of what you are doing or not, they are there to help, talk to people, do not let yourself fall into a hole that you cannot get out of, talk to others about how you are feeling, talk to others about your trading and most importantly, do look after both your mental and physical health.