HOW TO MANAGE THE PASSION OF TRADING

by: lerhing
Total views: 27
Word Count: 418

Being a trader is more than just a day job.  Traders will often find themselves studying the numbers on unrelated events.  After taking the plunge into the world of technical investing, you might find yourself looking for trends and chart patterns on things as simple as a weather chart.

Seeing Charts Everywhere

The professional trader will rarely leave work at work.  Trading success with technical analysis will bring a trader to actively discuss key issues after hours, such as late day breakouts or momentum strategies.  The markets are a bit of an obsession for the average day trader.  

Traders who use technical analysis have the hardest time getting away from work.  Everywhere you look there are patterns, specifically chart patterns.  After years of looking for patterns on stock prices, it is hard to ignore the patterns in everyday life.  Finding established chart patterns in a sea of data is easy for a professional trader.  It is very likely that traders become obsessed with numbers and chart patterns.

24/7 Trading Makes Stepping Away Difficult

Because trading is such an up and down event, stepping away from the trading desk can be difficult.  With the world markets open anywhere, anytime, 24/7, it is hard to ignore the computer screen in favor of a relaxing event.  Even financial freedom is not enough for some traders to ignore the markets; buying and selling can be a lifestyle rather than a simple way to make money.  

After years of successful trading, life-changing results, such as a ten-bagger in a retirement portfolio, is usually not enough to get away from the markets.  Look at any of the most successful professional traders – even though they have financial prosperity, they are still on a quest for more.  Financial freedom is just a status rather than a gateway to retirement.  

Find Another Passion to Manage Your Trading One

Finding an activity to do each day is paramount to keeping a level head.  Ignore your day trading strategies and the late day breakouts and focus on something you like to do.  Many trading firms have game consoles, libraries, and even arcades that cater to their employees.  Trader burnout is easy to achieve when you spend hours each day looking at candlestick chart patterns.  The constant emotional rollercoaster of watching your positions go from the red to the black and back to red can be nerve-wracking.  The best thing to do is find another passion to take you away from the day to day and to something you enjoy.

About the Author

Leroy Rushing is an active, professional day trader; trading coach; and author.  He is the Founder and CEO of Trading EveryDay, a distinguished provider of educational trading products and services that are available worldwide.  Trading EveryDay also has many articles with unique perspectives on day trading.

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