Whatâs that old saying; Doesn't matter what happens, only how we respond ====================== (Not directed toward Ammo) All stress/ anxiety/ whatever â is internally generatedâ¦, fosteredâ¦, nurtured..., amplified Learn how to get over yourself Coping mechanisms can span the spectrum â from exercise/ healthy habitsâ¦, to alcohol / drugsâ¦, to suicide Best to cure the source, become unencumbered, then move on (and live each day to the fullest) Like I said; learn to get over yourself... Hell in the end, we all end up as dust and an afterthought anyway jmo RN
Anyone who says this doesn't trade. You can't operate in this business without stress, which leads to anxiety and depression if you don't know how to deal with it.
This is a great question! I started trading in my early 20's and traded with a bonafide Prop Shop in Chicago after finishing my degree in Quantitative Finance. At that point in my life I felt the stress of trading but I was young enough that it either didn't affect me or if it did a few beers after the trading day took care of it. As I aged I was unable to work the stress off the way I could when I was younger. Drinking wasn't the answer because it eventually led to more stress. Thee single, most important thing you can do is exercise before and after your trading session. Whenever I exercise I feel a great physical and psychological rush. This is a great way to begin and end your day. Exercising before the trading session prepares your body for the stresses you will feel during the day and exercising afterwards sheds the stress you carry with you during the day. As time went on I added meditation to the recipe and that helped tremendously! A healthy diet with plenty of fruits, vegetables, healthy proteins, and omega-3 fatty acids can't be emphasized enough. I follow the Zone Diet religiously. It comes down to learning how to keep your body in top physical shape because trading is a physical and emotional battle. What would you do if you were a professional boxer, for example? Would you work on getting your mind and body in top physical fighting shape? Certainly! The same goes for trading. Train hard, trade hard.
- Handle's suggestion is a good one. - Also, consider trading the way Cornix does. My understanding is that he trades NQ near the opening for only about 2-3 hours each day and he has been very successful with that approach.
Terrific perspective. This reminds me of the time I started a Hedge Fund. After my first trading day I was down 1.5%. I finished my first month down 3%. This weighed on me heavily because I wasn't losing my own money, it was someone else's. Had it been my own 1.5% loss I probably would have recovered it the next day. I had a conversation about it with one of my trading buddies and what he said was, "10 years from now no will remember." This is along the lines of what you summed up and taking that perspective helped tremendously. It took me 6 weeks to get that 3% back but one I did I was off to the races. Since that time I've taken my share of lumps and investors have come and gone and 10 years later...no one really remembers.
You don't think a heart surgeon feels stress when he/she loses a patient, or flirts with losing a patient when something unexpected goes wrong during the surgery? I've been good and long many markets when something happens to cause the market to take a shit and blow right by my disaster stop, triggering a market order to exit at any price while I sit there and wait for my execution. It causes a fight or flight reaction that's difficult to control. In my case it's usually a fight reaction. I got creamed in the crude market a few years ago on unexpected news and I couldn't get out of the position. When I finally got flat I was determined to get my money back. I ended the day up $600 and when the closing bell rang all I could do is sleep. A heart surgeon who battles to stop unexpected bleeding and spends 8 hours in a surgery that's expected to last 2 hours will be flat out exhausted following the unexpected course of events. He/She has no choice but to stay the course and fight for the patient's life. Same goes for trading.
Drugs and alcohol while trading (everything else is; if you Ask, EVIL!)..... Exerciser is Evil........