FOCUSING TOO MUCH IN FOREX TRADING
Forex trading can be exhausting and physically draining especially if you’re trading in and out. Fatigue will hit you and distractions can often blur your judgment. Keeping your focus is then a very difficult task.
What can distract you?
First off, you need to know what distracts you if you want to keep your focus. Aside from physical exhaustion, you can often experience mental and morale tiredness, especially if you have experienced consecutive losses.
Staying focused is very difficult when you feel like you’ve been beaten to the ground. This is where your emotions can come into play and frustration can take a toll on your psyche.
Now, here are some of the most useful tips when trying to keep your focus in trading.
Take a Break from Your Routine
It’s easy for traders to develop a routine with their trades. And with these routines come the trader biases, which are sometimes difficult to detect. Over time, we tend to stick to these biases.
And these biases often keep us from seeing from another perspective. If you’re losing focus, it’s possible that your routine and biases are keeping you from seeing new important details.
You must regularly evaluate, and then re-evaluate, your routine and biases so you can keep a good focus on what you are doing in the market.
Do Something Else
In order to have better focus, you need to keep your mind fresh. Trading can develop a strain in the mind that can blur the edges when you’re trading. it’s like being high.
One way to prevent this from happening is doing something else that can make you forget of your trades for a while. It can be a video gaming, travelling, reading a book, or even sleeping. It should work like the refresh button or F5 on a keyboard.
Have Enough Rest
The most obvious reason for unfocused trading is fatigue. And the best medicine against exhaustion is – you guessed it right – rest.
In fact, this is what taking a break from trading is all about. Your body can only function so much continuously without rest. You’re still human and you need enough energy to keep the energy flowing. This is a very simple fact that traders who are too drawn in trading forget, so they trade for days on end.
Don’t Trade Under Pressure
Let’s say you got enough rest and sleep before you trade. But suddenly the market becomes highly volatile and you got this urge to trade while the market is moving. You feel high pressure, but you still pursue the trade. You’re in dire need of a win because you’ve lost three times in a row.
That’s one of the biggest mistakes you can make: trading under pressure. This never helps a trader. Before you start trading, make sure that you’re not too emotional, or you’d find it difficult to focus. As we have indicated, uncontrolled emotion plus high pressure is a really good recipe for disaster.