Mental Health is the unspoken topic that is rarely seen discussed within the day trading community but touches a lot of traders that we come across as a firm. A lot of the day trading industry is driven towards showing only the very highs of success that trading can bring. Some of these being cars, exotic locations and claims of a high-end lifestyle.
But there is no getting away from the fact that trading can be very mentally draining and high-pressure career at the best of times. Which can be even more difficult if your fighting with yourself mentally due to outside influences compounded with either a large loss or a series of losses.
Learning to trade can also be a very tough time for a lot of newer traders, as typically you're isolated with no support network which can be very difficult to adjust to. Even when you try to open up to non-traders like friends or family about losses or what you're trying to achieve with your day trading it can be met with concern, the wrong advice or simply just unrelatable looks.
To ensure you have the best chance of success you need to ensure you're in a very mentally strong position and have good lifestyle routines in place to cope with the stress if it does arise. This will then support and enable you to be dispassionately objective about your trading. Ensuring you have a set routine, eating, excersing and sleeping well is all very basic but will give you that firm foundation and to ensure your brain is well fueled and rested to approach the trading day ahead.
We’ve found as a firm that although this advice seems overly simple, putting in place these small lifestyle changes can make huge improvements in a traders trading performance.
Remember working harder in this game doesn't correlate to better trading performance but working smarter and ensuring to look after yourself does!
Please Note: We can NOT accept any US-based traders, this restriction is based on their location rather than their nationality and we can NOT accept any Canadian based traders directly.