When you are trading too much, you become nervous and tired very quickly. Overtrading is one of our main enemies, especially when you are on a losing streak. But there are ways to never overtrade and always be chipper and ready for the next trade. And here are my suggestions on how you are never going to overtrade ever again.
1. Set alarms.
2. Set limits.
3. Talk to people.
4. Go to the social media.
5. Stay away.
1. Set alarms.
At this day and time people tend to spend too much time doing unnecessary things like browsing social media or binge-watch the series. So setting up alarms to track time is very important and has already become a habit for thousands of people.
But we need to understand that for us as traders setting up alarms is not only going to measure time, it is also going to serve as a reminder to look up the news, refresh our knowledge, check our other trade the we put down and take a much-needed break. Setting up alarms might actually not only save you time and energy, but money as well.
2. Set limits.
Only five trades per day. Or three. Whatever you are comfortable with. I say this – pick a number of trades after the execution of which you are going to feel tired and take two out of this number – this is your perfect amount of trading for a single day for you specifically. Enough to satisfy your craving for a trade, at the same time not leaving you exhausted.
Limits are going to help you not overtrade and will always leave you wanting more.
3. Talk to people.
Try and talk to your trading agent, or to your signals provider. They are not only going to tell about the current situation in the financial world but will also distract you from the trading room. And sometimes this is just what you need – to be distracted from trading.
4. Go to the social media.
As absurd as it sounds, social media serves one purpose – it relaxes the brain. That’s right. You might not care that your former classmates got married, engaged or had a puppy. You might not care about the new ways to cook chicken and fold napkins. And you might not care about the countries your friends travel to as they won’t stop posting about it.
But it might be what you need to relax – just for 15 minutes, shut off your brain and just scroll. It is going to distract you from trading and from the market troubles and you are going to feel all ready for one more trade. If it doesn’t exceed the set number, of course.
5. Stay away.
When you are not trading and when the markets are closed, try and stay away from everything that is going to remind you about trading – books, videos, charts. Even your computer. Just stay away from it all. I guarantee that you are going to have plenty of time to look at all of that during the market hours, but if you want to enjoy it still, you are going to have to stay away from it on the weekends.
After all, trading is beautiful, profitable and interesting and quitting it just because you overtraded is going to be dull and somewhat tragic for you as a trader. So, try and follow at least two of these points to ensure that you are not going to overtrade and your interest in trading is going to live on.
