Do personal problems affect your trading?

Do personal problems affect your trading?

There’s no doubt that when your home life is less than ideal, your work life will suffer. 

While people will advise you to keep your work and your personal life separate, that is impossible when you trade from home.

Why I am taking a break from trading!

My dad was diagnosed with Lewy-body dementia just over 2 years ago. He has been in a care-home for a while now and is coming to the end of his life. He has been put on palliative care and basically it’s just a waiting game.

It’s hard to see my dad slipping away in front of me, but you do get time to get your head around it. Although it doesn’t make it any easier.

I actually thought I was doing well with it all so I carried on trading as normal.

Everything was going fine! Then I had a biggish loss, and everything I had learnt about trading psychology went out the window.
I wasn’t satisfied until I had blown my entire bank.

I was kidding myself that I could actually be fine trading with what was going on in my life.

So what now?

Not so long ago I wrote a piece on sports trading psychology and the number one rule was: Knowing when and when not to trade is important. Sometimes, not trading equals to having a profitable trade.

And now has come the time for me to stop trading and doing anymore damage to myself and my bank balance.

Life events such as a family illnesses have a high probability of effecting your performance in many different areas and trading is no exception to this.

This is NOT the end of the journey for me, it is just a break till my head is sorted out. The fact that I have recognised I need to stop for now is a positive. I really don’t want to take a break. But if I don’t then it will do a lot more damage for my trading in the long run.

Know when to stop trading

A sports trader who is not in peak condition for trading should consider a break to deal with any personal problems, be it health or stress or anything else that stops the trader from being effective.

You are your own boss, you have to be disciplined enough to know when to stop trading. In a normal rat race job you have a boss to talk to, you can request time off . This is one of the downsides of working for yourself, from home. You have to have the right mindset for trading otherwise you might as well flush money down the toilet.

Know when to stop trading

 

Mindset Workshop

This Thursday 28th March I am flying to Edinburgh to go on a progressive workshop with Dr Joe Dispenza for 3 days. It involves a lot of meditation and will help me change my mindset which in turn will benefit my trading. 

I will do a blog post about my experience when I get back. We will see if it has a positive effect on my trading.

Update: Click here to read my blog on my experience of seeing Dr Joe Dispenza in Edinburgh

 

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