You feel like a deer caught in the headlights when you look at your screens and take in all the new information and changes in the forex market.
You feel like you have to do well. You haven’t made a trade that made you money in a week.
Your bills are due, and your bank account is almost empty. You have no idea what you will do. You’re getting desperate, so you tell yourself, “I’m going to push myself to make some pips.”
The problem is that the more you tell yourself this, the more stressed and upset you get.
In these situations, it’s normal to feel like you have to do everything you can to make money.
Be careful not to push yourself too hard, depending on your skills and resources. You might make matters worse.
Time to take it easy!
Put on some music, get a glass of wine, and take a bubble bath. You do you!
When you trade forex, you can trick yourself into thinking that your job is never done. There’s always a new chart to look at, an economic report to read, or a new trading strategy to make or test.
When you haven’t made a profitable trade in a while, you start to feel like you must, must, must make a profit. And since the forex market is open 24 hours a day, you feel like you have no reason to miss any chances to make money.
But unless you have a lot of experience with forex trading, pushing yourself to the limit will only make things worse.
You can’t seem to get anything done all of a sudden.
Putting yourself under more stress doesn’t always make you work better. Scientists talk about the link between stress and performance as a “inverted U-curve.”
This is how the “inverted U-curve” works:
When a task is easy, like running around the block, a lot of stress makes it easier to do well.
But when a task is hard and intellectually challenging, like coming up with a good trading strategy, a lot of stress slows down performance.
Even a small amount of stress takes up a lot of mental energy.
When you put yourself under a lot of pressure to make more money trading, you’ll start to feel a little tired. And if you push yourself too hard and try to do way more than you can, you’ll eventually use up all of your mental energy.
If you feel stressed because you are being too hard on yourself, it would help to ease the pressure you are putting on yourself.
Say to yourself, “I’m not going to push myself anymore. I’ll just set a small goal and work on it one minute at a time, then maybe one hour at a time. I’ll just give it my best effort.”
Try this way of thinking out and see what happens. You’ll find that you can use a little more energy if you just relax a little bit.
During a stressful day, taking a break can also help a lot. Get outside, go for a walk, and enjoy the sun. It will get rid of some of the stress and bad energy that has been building up.
You can also try a simple way to calm your mind. Go somewhere quiet and keep saying, “I’ll take what I can get from the market.”
Keep saying it over and over. Focus on the words and forget about the markets. You’ll start to feel better, and you’ll have more energy.
If you are an experienced trader, pushing yourself to meet ever-higher standards of excellence can help you do better. But if you are new to trading, pushing yourself past your limits usually leads to frustration, stress, and eventually exhaustion.
When you’ve pushed yourself so far that you feel the pressure, STOP! Take a chill pill. Accept what you can’t do and take it easy.
In a strange way, you’ll get a little boost of energy and feel strong all of a sudden. At that point, you’ll be ready to go back to the forex market and start making money.
“If you don't find a way to make money while you sleep, you will work until you die.”
- Warren Buffett
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