Wednesday, October 10, 2012

Trading and Still Having a Real Life

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If any of you traders out there have every followed any of my teaching, been part of my forex coaching sessions, or used any of my stock indicator systems, then you know one of my main philosophies is:


If you’re a day trader, and enjoy the thrill of watching every tick of the market, then that’s fine. I personally do that myself sometimes, but I’m a “trading nerd.” But again, I only do that sometimes.

You see, I’ve been trading a long time… over three decades. And I remember a time when I was younger; I would come home from work, and go straight to my den and pour over charts till the wee hours of the morning. And these were the days before computers so I was plotting all these things with real charts and a magnifying glass.

It was brutal and took a toll on my quality of life. Now that life lesson was a driving force behind what I do today. So each course I develop, each student I coach, each piece of software I invent… I always have in the back of my mind: How will this make each trader’s life easier?

It’s one of the biggest myths out there that we traders need to be staring at computer screens until our eyes glaze over. It’s not needed. In fact, it might even be detrimental. Watching the ever-fluctuating markets can do a lot to someone’s psyche. So you see the market twitch up and down and what does that do? It becomes a huge temptation to over trade. Or a temptation to stay out of trade, or get into a trade that ultimately differs from where your trading plan and or trading methods or system tell you to be. So you see, staring at charts can be dangerous.

At the end of the day, you need to find a trading system that utilizes methods and tactics that fit within your trading plan. If you only have an hour to trade everyday, or heck, you only have 10 minutes, then that’s how your trading system should operate.

Enjoy your life. Take time to go golfing, fishing, spend extra time with your family… trading is fun, but so is living your life. With the right system, you can have both.

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