HOW TO BALANCE LIFE AND TRADING
Updated
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The life of a trader can be stressful, with important developments taking place constantly. This makes it essential that individuals maintain a positive work-life balance
Prioritize What You Need in Your Life
When you learn how to prioritize your life, you can focus with intention on what matters and accomplish your most important goals.
Priorities are difficult to determine.
There are some things you want to prioritize at the start of each year, such as spending more time with family, discovering your life’s purpose, starting a business, traveling the world, or becoming a profitable forex trader.
But to be honest most of us struggle to focus on what we really want in our life when the year goes on.
For example, the majority of people will never turn down a high-paying job, even if it means spending less time with family or working on themselves to find the balance of their life.
Why is that?
Because of that dopamine hits you get when you are getting a paycheck from your high-paying job.
I’m not saying it’s bad and you should quit your job. I’m saying that I’ve seen lots of people who were able to organize their lives while working a 9-5 job and still living a well-balanced lifestyle.
Also, I’ve encountered people who used to work both a day job and on their goals and then quit their jobs after accomplishing their goals.
So how are they doing it? What is the secret?
The secret is finding your life purpose and finding out what you really want to achieve in your life.
Let’s say you really want to become a profitable forex trader, but it doesn’t mean you should sit in front of your computer all day and place trades. If you do so, You will miss out on a lot of life opportunities.
You won’t be able to focus on your nutrition or physical and mental health since you won’t get enough time to reflect on yourself. You’ll also be unable to consider how and when you can spend time with your loved ones when the stress of your daily life schedule gets too tight.
This is not trading, this is a bad way of treating yourself.
So what is the solution?
Simply makes a list of what you really need in your life then prioritize them while still giving time to focus on yourself.
For example, if you have a day job but still want to be a successful trader, you can day trade the market when you get home at night.
Alternatively, you can trade on a higher timeframe, such as daily or 4-hour, to spend less time on trading while still earning a good profit.
By doing that you will have plenty of time to focus on your job and your well-being as a trader.
Remember that no matter what you’re attempting to do, whether it’s trading or running a business, you should make time to focus on your well-being.
That is what creates a balanced life, and balanced life will empower us to stay happy while also increasing our chances of success in any area. The same remains true for trading as well.
Self Improvement is Important
People who devote enough time to self-improvement have a better understanding of themselves and others, as well as a clear understanding of their goals and how to achieve them. Personal growth allows you to go forward, explore new horizons, and feel happier.
Regardless of what you are doing in your life (Doing a job, Running a business, or trading) you should prioritize improving yourself each and every day.
By improving your life as a trader, your life will become more dynamic, and you will be presented with new life opportunities, and because self-improvement leads to happiness, you will be able to enjoy life rather than worry and regret.
Now in trading, self-improvement is a direct factor that will determine a trader’s success.
Why?
Because trading success is heavily based on psychology and attitude.
Even Mark Douglas mentioned in his book Trading in the Zone that intelligent people are the majority failure in the trading industry and also he mentioned that it is the attitude and unique thinking that will make successful and sustainable traders.
Therefore rather than sitting in front of the charts, focus on the area you can improve when you are not having any trade setups.
Give your best to improve in areas like your focus, social skills, patience, mentality, attitude, positive habits, and high-demand skills.
Expect Unexpected
As traders, we are all aware that we should deal with uncertainty on a daily basis.
The majority of what you do in trading has no guaranteed outcome. Any trade can be a winner or a loser, and all we can do is respect the result and live with the uncertainty.
So how to stay positive in the face of a constant uncertain environment like the forex market?
Simply by controlling what we can control and not being too worried about things that we have no control over.
For example, we have no control over price movement, right? So what is the solution?
Simple just react to the price information according to your trading plan.
On the other hand, there are things we can control, such as risk management and being selective more about market conditions in which we should trade. Do your best to control those things.
Have a Well Define Trading Routine
A trader’s daily routine will clearly define the lifestyle he or she has.
I’ve seen traders trade all day while sitting in front of the computer browsing social media or watching YouTube, and these types of routines will lead to an unhealthy life. In reality, most of these traders struggle to maintain consistency in their trading process.
Then there are traders who have managed to find a balance between trading and other professions. The majority of these traders only trade for two to four hours every day. They will have more time to focus on other things that will lead to happiness and a well-balanced lifestyle as a result of this.
Focus on Quality Over Quantity
We all know that the volatility of the forex market is much higher and every day the market is provide us with endless trading opportunities to take advantage of.
Although we may not be able to take advantage of all of these trades, the market still makes 10 to 20 trade opportunities available to us, and if you trade on shorter timeframes, the number of trade opportunities will increase as well.
However, in reality, we cannot execute all of these trades, and attempting to do so as many trades as possible every day will result in overtrading. In terms of trading, this is bad for your account, and in terms of life, you won’t have enough time to focus on other things (like spending time with family, focusing on your nutrition and exercise, or meditation) because you’ll have to stay in front of the computer to execute all of those trade setups.
So what is the solution to stop overtrading?
There is actually a simple solution for this. Just be More Selective on Your Trade and Only Execute Higher Probability Trade Setups.
You will be able to cut down the trading opportunities you have to monitor on any given day by filtering out only the high probability trade setups, which will save you a lot of time.
You also don’t have to spend the entire day in front of the computer. As a result, you’ll have more time to focus on yourself and spend with your family.
Maintain Positive Mental Attitude
Maintaining a positive mental attitude in trading or any other activity will lead to balance in other areas of your life.
For example, if you can’t keep a positive mental attitude after a bad trading day, how can you expect to proceed through the rest of the day’s activities with confidence?
Most likely, you’ll have a harder time finishing the day productively because you let that bad trading day affect your mental state.
If this happens regularly whenever you have a bad trading period, you will never be able to find the right balance in your life as a trader.
Therefore, work on developing a strong mental attitude as a trader – an attitude that lets you remain confident in your trading abilities, trade decisions, chart analysis, and trading system in order to succeed as a forex trader and to keep a well-balanced life.
If you like our content, please feel free to support our page with a like, comment & follow for future educational ideas and trading setups.
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
The life of a trader can be stressful, with important developments taking place constantly. This makes it essential that individuals maintain a positive work-life balance
Prioritize What You Need in Your Life
When you learn how to prioritize your life, you can focus with intention on what matters and accomplish your most important goals.
Priorities are difficult to determine.
There are some things you want to prioritize at the start of each year, such as spending more time with family, discovering your life’s purpose, starting a business, traveling the world, or becoming a profitable forex trader.
But to be honest most of us struggle to focus on what we really want in our life when the year goes on.
For example, the majority of people will never turn down a high-paying job, even if it means spending less time with family or working on themselves to find the balance of their life.
Why is that?
Because of that dopamine hits you get when you are getting a paycheck from your high-paying job.
I’m not saying it’s bad and you should quit your job. I’m saying that I’ve seen lots of people who were able to organize their lives while working a 9-5 job and still living a well-balanced lifestyle.
Also, I’ve encountered people who used to work both a day job and on their goals and then quit their jobs after accomplishing their goals.
So how are they doing it? What is the secret?
The secret is finding your life purpose and finding out what you really want to achieve in your life.
Let’s say you really want to become a profitable forex trader, but it doesn’t mean you should sit in front of your computer all day and place trades. If you do so, You will miss out on a lot of life opportunities.
You won’t be able to focus on your nutrition or physical and mental health since you won’t get enough time to reflect on yourself. You’ll also be unable to consider how and when you can spend time with your loved ones when the stress of your daily life schedule gets too tight.
This is not trading, this is a bad way of treating yourself.
So what is the solution?
Simply makes a list of what you really need in your life then prioritize them while still giving time to focus on yourself.
For example, if you have a day job but still want to be a successful trader, you can day trade the market when you get home at night.
Alternatively, you can trade on a higher timeframe, such as daily or 4-hour, to spend less time on trading while still earning a good profit.
By doing that you will have plenty of time to focus on your job and your well-being as a trader.
Remember that no matter what you’re attempting to do, whether it’s trading or running a business, you should make time to focus on your well-being.
That is what creates a balanced life, and balanced life will empower us to stay happy while also increasing our chances of success in any area. The same remains true for trading as well.
Self Improvement is Important
People who devote enough time to self-improvement have a better understanding of themselves and others, as well as a clear understanding of their goals and how to achieve them. Personal growth allows you to go forward, explore new horizons, and feel happier.
Regardless of what you are doing in your life (Doing a job, Running a business, or trading) you should prioritize improving yourself each and every day.
By improving your life as a trader, your life will become more dynamic, and you will be presented with new life opportunities, and because self-improvement leads to happiness, you will be able to enjoy life rather than worry and regret.
Now in trading, self-improvement is a direct factor that will determine a trader’s success.
Why?
Because trading success is heavily based on psychology and attitude.
Even Mark Douglas mentioned in his book Trading in the Zone that intelligent people are the majority failure in the trading industry and also he mentioned that it is the attitude and unique thinking that will make successful and sustainable traders.
Therefore rather than sitting in front of the charts, focus on the area you can improve when you are not having any trade setups.
Give your best to improve in areas like your focus, social skills, patience, mentality, attitude, positive habits, and high-demand skills.
Expect Unexpected
As traders, we are all aware that we should deal with uncertainty on a daily basis.
The majority of what you do in trading has no guaranteed outcome. Any trade can be a winner or a loser, and all we can do is respect the result and live with the uncertainty.
So how to stay positive in the face of a constant uncertain environment like the forex market?
Simply by controlling what we can control and not being too worried about things that we have no control over.
For example, we have no control over price movement, right? So what is the solution?
Simple just react to the price information according to your trading plan.
On the other hand, there are things we can control, such as risk management and being selective more about market conditions in which we should trade. Do your best to control those things.
Have a Well Define Trading Routine
A trader’s daily routine will clearly define the lifestyle he or she has.
I’ve seen traders trade all day while sitting in front of the computer browsing social media or watching YouTube, and these types of routines will lead to an unhealthy life. In reality, most of these traders struggle to maintain consistency in their trading process.
Then there are traders who have managed to find a balance between trading and other professions. The majority of these traders only trade for two to four hours every day. They will have more time to focus on other things that will lead to happiness and a well-balanced lifestyle as a result of this.
Focus on Quality Over Quantity
We all know that the volatility of the forex market is much higher and every day the market is provide us with endless trading opportunities to take advantage of.
Although we may not be able to take advantage of all of these trades, the market still makes 10 to 20 trade opportunities available to us, and if you trade on shorter timeframes, the number of trade opportunities will increase as well.
However, in reality, we cannot execute all of these trades, and attempting to do so as many trades as possible every day will result in overtrading. In terms of trading, this is bad for your account, and in terms of life, you won’t have enough time to focus on other things (like spending time with family, focusing on your nutrition and exercise, or meditation) because you’ll have to stay in front of the computer to execute all of those trade setups.
So what is the solution to stop overtrading?
There is actually a simple solution for this. Just be More Selective on Your Trade and Only Execute Higher Probability Trade Setups.
You will be able to cut down the trading opportunities you have to monitor on any given day by filtering out only the high probability trade setups, which will save you a lot of time.
You also don’t have to spend the entire day in front of the computer. As a result, you’ll have more time to focus on yourself and spend with your family.
Maintain Positive Mental Attitude
Maintaining a positive mental attitude in trading or any other activity will lead to balance in other areas of your life.
For example, if you can’t keep a positive mental attitude after a bad trading day, how can you expect to proceed through the rest of the day’s activities with confidence?
Most likely, you’ll have a harder time finishing the day productively because you let that bad trading day affect your mental state.
If this happens regularly whenever you have a bad trading period, you will never be able to find the right balance in your life as a trader.
Therefore, work on developing a strong mental attitude as a trader – an attitude that lets you remain confident in your trading abilities, trade decisions, chart analysis, and trading system in order to succeed as a forex trader and to keep a well-balanced life.
If you like our content, please feel free to support our page with a like, comment & follow for future educational ideas and trading setups.
Note
![TOP 20 Key Patterns [cheat sheet]](https://s3.tradingview.com/6/6puZ59qW_mid.png)
Note
Note
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Have you ever seen a key resistance level breached and entered a long position right before the market turns the other way and dumps hard?
Have you watched the price smash through support, and entered into a short position only to watch the market bounce?
Don’t feel bad, this has happened to everyone – you’re just one of many victims of the false breakout, and learning to spot these things can be tricky.
Read on as we discuss breakouts, and fakeouts and introduce two powerful indicators from the CRYPTOMOJO_TA team that can help you stay on the right side of the market and avoid further pain.
The solution to this problem is actually pretty simple (as depicted above). Rather than act on trade in real-time as soon as the price breaks a key level, we should wait until the candle closes to confirm the breakout’s strength. So the idea of setting entry orders above or below support or resistance levels to automatically get us into a breakout trade is not a very good one. Entry orders allow us to get “wicked” into breakout trades that never actually materialize.
On the surface, this would lead us to believe that the only way to effectively trade breakouts, is to be at our trading terminals ready to act as soon as the candle closes in breakout territory. Once the candle closes, we can then open our position that hopefully has a higher chance of success.
Fake-out Trading:
Fake-out trading simply means trading in the opposite direction of the breakout fake out trading=trading false breakout.
You would trade fake out if you believe that a breakout from support or resistance level is false and unable to keep moving in the same direction. Fake trading is a great short-term strategy so if you are a long-term trader avoid that.
Trading breakout appears to independent traders because of greedy mentalities they believe in trading in the direction of the breakout. They believe in huge gains on huge moves. Catch the big fish, forget the small fries.
The institutional trade prefers to fake out trading as we know to sell sometime, there must be a buyer.
Note
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