I’m sure we have all had moments where we have felt the full sting of the market, after losing our focus. Perhaps you entered a trade and immediately regretted it, or maybe you got distracted and missed out on a great trade! The fact is these distractions if we let them, can become very harmful to our overall trading success.
Let’s take a look at 5 ways to stay focused when trading…
1. Sit comfortably and take regular breaks.
Not only is it important that you are sitting in a comfortable chair with the correct posture etc, it is also vital that you take regular breaks from the computer screen. Get up, take a walk around, stretch! All these things are vitally important to your well being, they are also important in relation to your focus on trading.
Endless screen watching with no breaks could lead to tired/drowsy eyes and if you are not sitting comfortably..a bad back! All these aches and pains will inevitably withdraw your focus from your trading. So make sure you are sitting with a straight back (no slouching!) and take those regular breaks at least 15 mins for every hour. Don’t worry you can still keep an eye on the action during that time, just ensure you stand up, stretch and have a little walk around.
2. Remain alert!..drink water.
Sitting in front of the computer screen for endless hours watching the green and red candles pop up, will lead to a drop in attention and focus. You become almost zombie like, this could lead to frustration and even worse; Revenge Trading! Which is NEVER a good idea. Instead ensure that you keep topped up on water (aim to drink 8 glasses a day), doing so can improve concentration and clear your mind, just the state you want to be in to stay focused when trading. Just DON’T keep the water next to the computer!
3. Clear your distractions before you start trading.
Distractions can come in many forms but they all lead to the same problem; a loss of focus in our trading. Ensure first of all that your working environment is free from distractions, make sure people are aware that you are trading and if you get a phone call try not to stay on the phone for too long, this is a classic way to divert your attention from the focus of your trading.
Other distractions can be on the computer itself, going on to Facebook or surfing the internet for too long could have you totally out of sync with the market environment, leading to a drop in focus. Simply be aware of what it is that distracts you and aim to ensure those distractions are managed, only then will you be able to stay focused when trading.
4. Get enough sleep.
Sleep of course is important to our well being, it is what enables us to continue to function. A lack of sleep will lead to a huge drop in alertness/focus not only in trading but also in your general day to day activities. Instead make sure you get a good amount of sleep ready for the days trading activity ahead.
5. Run a commentary on the updating market environment.
This is a great tip that is usually done whilst learning how to drive, “check the mirror” “signal left” etc. This commentary helps you to remain focused and alert when behind the wheel, especially during the early days of driving. So why would we want to do the same when trading? Very simply, to stay focused when trading!
It is all too easy to get used to seeing the red and green candles as they form on our charts, instead we should be viewing the markets as a constant battle between the BULLS (Buyers) and the BEARS (Sellers). This of course is linked to Support and Resistance as well as reading the candles or Candlestick Analysis.
Running a commentary as new data unfolds will really help towards staying in sync with the market and of course remaining focused. So give this and the other methods a try to help you to stay focused when trading.
What methods do you use to stay focused when trading?
Happy Trading 🙂