Currency Day Trading – How to Avoid Day Trading Forex Stress

 

When you day trade forex currency, you are under a massive amount of stress. You might not realize it, but it is present and it contributes to nearly all of the silly mistakes and bad fx trading decisions that are made by traders. Reducing your stress is so critical, it can really have a better effect on your bottom line than improving your plan. Here are a few tips to help you keep your forex day trade stress down and your profits up.

1. Take breaks

You have heard this before, but do you do it? Just walking away from the screen for 5 minutes each hour can improve your clarity of thinking and therefore your fx trading. It is also good for your circulation and may help prevent thrombosis, a potential killer. Use a kitchen timer, stopwatch or a pop up reminder on your PC screen.

If you day trade forex and do not want to leave the screen with an open trade, be sure to take a break after every trade that you close, whether or not it was successful. This will help you come fresh to the next trade.

2. Join a forum

Forex trading can be a lonely business. Family and close associates are as a rule not interested and cannot grasp the highs and lows of your day. Becoming a regular user of an online forex forum or bulletin board makes you part of a community that can feel a lot like having work mates.

You will make useful contacts, have somewhere to boast of your triumphs and probably, from time to time, appreciate the support of other members when things are not going so well. You can also pick up a lot of trading tips and keep up to date on developments in the world of currency trading through membership of a forum. Be cautious not to spend too much time there, but check in for a short time most days to flick through the most recent discussion threads.

3. Check the forex news calendar

At the start of your day, be sure to check a forex calendar or news service for any announcements or reports that are expected during the day. Do not rely on your forum membership for market news. When you know what the day is likely to bring from the moment you sit down, you can plan your trading hours. You will feel more in control of your day and your trades.

4. Get exercise

Exercising the body keeps the mind as well as the body ready for action. Starting your day with a workout or run can give you a great energy boost. Exercise also releases endorphins, making you feel more positive. While you could take exercise later in the day, early or mid morning is the best time if you want your trading as well as your muscles to reap the benefit.

5. Get a life

Do not fall into the trap of letting your computer become your world. If forex trading takes over all aspects of your life,becoming burned out is almost inevitable. Schedule time with your family and friends, vacations and time for sports or hobbies. Take time to eat healthily too. These things will make the time that you do spend in front of your PC screen much more productive, so that you can day trade forex with less stress and more profits.

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