7 Ways to Handle Stress

How do you identify that you are stressed while you are trading, or before you start?

There are many different reasons why people like to learn how to trade for themselves. Even though it can be a stressful time the opportunity to create an income for yourself is very rewarding.

The thrill reached after profits can never be replicated by any losses. This divine feeling is the honeymoon period of a trader. Once the sizzle runs out, the doubt starts to raise its head.

The realisation then starts to appear that he has to pay the mortgage and bills every month. A part-timer, who started trading because of his little earnings, will also have cash crunch situations despite putting his effort into trading apart from his day job. These can be the typical scenario of stress creeping into a trader.

How do we identify trading stress?

Insomnia stress and sleepless nights are the best indication of any type of stress. Sudden mood swings, feeling disconnected from the surroundings, idleness, laziness, and procrastination are the other predominant indications of stress.

Some therapists nowadays suggest sudden flu and digestive problems can be outbursts of stress.

Stress can be identified from any change in the body mind and soul.

I have experienced firsthand the stress that can consume one's mind when trying to successfully learn how to trade Forex in the market.

It can feel to some like they are a failure especially when others are having success.

These are 7 ways that you could handle stress while you are learning to trade Forex. There are many more ways to handle your stress but these may get you started.

📌1 What's your why?

Why are you trading, what is your goal, are you wanting to earn an amount of money or do you want to buy something or change your work situation? There are many reasons and they are all relevant. A good exercise is to create a vision board of the result that you want to achieve with your trading journey. This is a great idea when the going gets tough and you have doubts about what you are doing. Then you can always look at your why on your vision board to remind you of why you started. Many people say they want to earn an amount of money, but in my opinion, this is not a solid goal. What are you going to do with that money and then when it's spent, what happens next.

Prepare a trading plan or road map so you know all the details of how things will go. It's like when you are going on a long road trip you don't just get in your car and start to drive. You must plan all the stops and directions and have plan B if things don't go to plan. Know the how when where and why of everything.

📌2 How many hours do you have during the week to trade in the Forex market.

This is an exercise that you could create on a weekly diary. Fill in the hours of your life, work hours, time for family, sports or recreation, etc. Once you have created your weekly life activities then look to see how many hours that you have left that you can spend with trading.

This is very important to know exactly how much time you will have and when. You will then know when during the day you can trade and you won't feel like you should be doing something else.

This type of planning is a great way to alleviate stress even before you get started. The markets are open 24 hours a day 5 days a week.

Research each market time and see what pairs are the best ones for that time.

It makes a difference for example if you are going to trade the London session you wouldn't choose pairs not in that session see below:

📌3 What type of trader will you work towards becoming

Do you like to start and finish a trade in the day or have it go overnight? Some people like to swing trade which can take days or weeks.

📌4 What strategy will you be using?

There are so many different strategies for you to find the one you understand and can learn with some research. It is important to find the right educator, someone who you like to listen to and can understand their teachings.

📌5 What is your budget?

Have you set aside money to learn? You must be aware that to learn trading you must be okay with losing money. You will lose and win and this is a given. Always prepare to learn the lessons while trading and be okay with losing sometimes. This can be one of the biggest stress busters, thinking that you will never lose.

📌6 Preparation:

What is your thinking process before you hit the charts? Do you meditate before you start, make sure you are drinking plenty of water, and be in comfortable clothes. Don't trade if you think you should be doing something else.

📌7 Inconsistent Trading Plan:

Not adhering to a well-defined trading plan or constantly changing strategies based on short-term results can lead to confusion and inconsistent outcomes.

Have your trading plan in front of you before you start and read through all the conditions you have set out. Only trade with those conditions, and if the charts are saying something else, then you should not be trading at that time.

Regards Coach Judy

Building a community of empowered women, 1 step at a time 🌟