Nothing is even close being a fulltime trader having to make ends meat every day /every week.It's all fine and dandy having another job and part time trade and feeling some stress here and there..I also understand the stress with investors placing a lot of there SMSF's into the stock market.. BUT.... Nothing will compare to the stress that full time trading brings to the individual...
Knowing that no matter what a wage has to be achieved every week. Does not matter whether you have made a killing for months its all about going forward and keep going forward.. Bear market or bull market we have to turn a profit no matter if its $100-$1000+..
Before I went fulltime trading I was working away on offshore rigs and onshore gas plants trading ST-MT holds here and there.Was a pretty decent lifestyle expect being away from the family and friends 2-4weeks at a time. I thought this was high stress.... The time came where I had enough coin to get away from this style of work and have a crack at DT with cash only no borrowed flow...
Some have mentioned emotional stress....
As a 30yr old having a crack at fulltime trading brought out emotions I was not even sure existed.... For the first year I experienced sleep insomnia as at the stage I started fulltime the first of the Greece stuff really started to kick in... Constantly up all night flipping out about making some coin for mortgage repayments/food/lifestyle ...You find yourself on a emotional rollercoaster with constant days where every ANN was sold into and lucky to make a few pips hear and there.. Every bit of news on Tv/radio/newspaper were all talking about another market crash... To make things worse I had bought 2 blocks of land which I thought were close to the bottom only to start hearing negativity about real estate..
The above about making money every week is where I went wrong and established a new plan......
To keep it short and simple.
Stress is what u make of certain situations..
How you develop a plan each time u feel stressed... My plan is if im feeling stressed or uncomfortable in a trade I get out of the trade at the time pack my desk up and go for a walk/surf/fish as I feel exercise is the cure for me..
How not to deal with stress is simple do not trade.. If trading is causing sooo much stress and anxiety there are a lot easier options out there to make some cash with out all the stress...
For me the first year of trading nearly broke my relationship up, nearly lost some close friends and also added extra years of stress onto my life... Also gained about 5-7kg of unhealthy stress binge eating..
This is how I overcame stress...
1.No matter what the weather is I start the morning in a positive attitude.. Be it going for a surf/gym/walk or enjoying a healthy breakfast Also about 30mins before pre I take my puppy for a quick stroll around the street as his smile in endless..
2.understand yourself as a individual and what makes your mind tick be it positive or negative.
3.Trading hours 10am-4.10pm. This is your job would I work overtime for anyone else for free ? So as my trading day finishes so do I ... I do spend some time studying here and there but outside life is what creates the fundamentals to having a great trading life..
4.If feeling stressed have a holiday or some time off enjoy what Australia has to offer as its a lot more exciting than the trading den..
5.Money...... Often the cyclone that Is waiting to attack your soul unless you have the understanding and ability to control..
(eg) I have no daily/weekly targets anymore....
I have a kitty account now where I have made large gains so if im in a slow week or the market is dry I wont chase money I will sit back and wait for the trade to come to me eventually, while also remembering I have the kitty ..
Last but my fav..
Trading can ultimately bring the life you have always wanted you just need to understand how u as a trader/investor can do this. For me listening to my friends about there jobs/traffic/late pays/arguments the list goes on makes me realize how good being a trader can be once you develop your strategy/plan/lifestyle..
Just a quick write of some of my experiences little bit long but im hopeless at writing ....
Also the blocks of land where at the bottom
Also about 30mins before pre I take my puppy for a quick stroll around the street as his smile in endless..
