Trading may be one of the most stressful professions in today’s world, but also one of the most rewarding. Unfortunately high pressure stress is part of forex trading and everyone who wants to trade forex in a serious capacity needs to be able to handle the stress load as well as manage to reduce it.
Those who only talk about managing the portfolio clearly lack the proper experience as you do not only manage your profits and losses, you also manage your stress and while you work every day to reduce your losing trades you should also focus on effective way to reduce your stress level as it will have a negative impact on your health over a longer period of time.
Stress will eventually lead to bad trades being placed as emotions take over and make the trading decisions which always end in a disaster. In order to succeed as a forex trader you need to find ways to manage and reduce your stress level. Everybody is different and there is no one solution to the stress problem, but here are some tips which should be useful to most forex traders.
7 Ways to reduce stress while trading forex
Walk away – When you feel that stress related to forex trading get too much, take a break and walk away from your trading terminal. You need to distance yourself from the source of stress and evaluate the situation and identifying why it is putting so much stress on you.
Drink water – This is very important as water will help your body process stress easier. Being properly hydrated is not only a good way to combat stress, but in general healthy for your body.
Work out – You need to be mentally strong in order to navigate through the world of forex, and being physically on shape helps your mental toughness as well. Lift some weights on a regular base and you should see an improvement in your mental strength as well.
Go running – This refers to long distance, run 5 kilometers per day and increase the distance. This will also help you to become mentally stronger as you will train body over mind and it is a great exercise while you also get in shape.
Eat healthy – You need your body to function at the highest level for a long time period which means you need to eat healthy so your body has the nutrients it needs in order for high level performances. Make sure you also snack properly during your trading day as you need to replenish your energy.
Yoga/Pilates – Yoga and Pilates are great way to reduce stress and should be practiced every day. Plenty of offices encourage short Yoga session during your work-day as it relaxes and replenishes so look into a Yoga/Pilates routine.
Create a trading plan – Get used to trade forex during a certain time period every day and don’t over-trade. Know when you will trade and only trade during those time period. It will allow for a much calmer trading day.
The above seven points are great ways to reduce your stress level while you trade forex and should be taken very seriously. You need to learn how to manage and reduce your stress level in order to better function as a forex trader.
