0.7R closed immediately before EU news. AU Long, Zero DD. Setup worked out, but not enough time to breath... Glad that I have closed before the drop caused by news. Very good reaction. Decisive! Well done!
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If you feel that these warning signs apply to you, here are some tips that might help you recover from a trading burnout:
1. Take it easy
When you're feeling more stressed about your trading than usual, you run the risk of making things worse if you force yourself to trade more and work harder. Taking a moment to unwind could help you clear your mind and make it easier for you to focus later on.
2. Ask for help
More often than not, trying to overcome a burnout on your own can result in twice the pressure you already feel. In this case, there's nothing wrong with consulting a friend or even a psychological counselor. After all, it's possible that burnout might be a product of a different concern other than trading and it'd be best to isolate which problem you really need to work on.
3. Take control
One of the major causes of burnout is the perceived loss of control over a situation, which is something that traders could be prone to given the market's dynamic nature. When you feel this kind of anxiety while trading, try to regain control by setting simpler goals. These can be in the form of managing your time wisely, updating your trade journal regularly, or developing a trading plan and sticking to it.
Overcoming a burnout is definitely easier said than done. But, as the saying goes, prevention is better than cure. Here are some ways through which you can avoid getting burned out in the future:
1. Remember the warning signs of a burnout
Simply go through the list of questions that I posted above and make sure to take it easy with your trading when you answer "yes" more than a couple of times. Also, take note of the usual factors that trigger a burnout for you and try to work your way around those problems.
2. Recall the feeling when you first started trading
Do you remember that light bulb moment when you first understood how fundamental and technical analysis made sense? Did you feel giddy when you placed your very first trade? Use that excitement you felt when you first started trading to renew your enthusiasm for the craft. This way, you'd be able to focus more on the positive aspects and less on the stressful ones.
3. Find a trading buddy
If John Bennett was able to find a Thunder Buddy in his old teddy bear Ted, you should find your very own Thunder Buddy when it comes to trading too! But instead of holding hands and cursing the forex market, share your trading thoughts with your buddy instead. He might be able to help you determine your common mistakes and correct them, allowing you to avoid stress from these problems down the line.
4. Pamper yourself
By this, I don't exactly mean having a relaxing massage or getting your nails done. But hey, if it works for Big Pippin, it might work for you also!
We all have our own ways of unwinding - be it through a beach vacation or a few rounds of paintball - so it's important to know what does the trick for you and then do it! As much as I know you love trading, make sure that you also do something else that you enjoy regularly to avoid the dreaded burnout.