Take a break
Don’t go over your limits, take a break, it’s alright
It happens everywhere, forex trading is no exception. Time to time it’s good to take a break, renew your energy and organize your thoughts. It’s not always easy though to recognize when it’s necessary to do so.
Stress is an everyday part of Forex trading
No matter how perfect is your plan or how prepared you are, trading always gets to that point when your stress levels are about to attack their maximum. If you feel like that this is happening too often, go and have a break.
Feeling under pressure and trying to stick to your trading plan doesn’t go hand in hand. Try to look ahead, not in the terms of hours, but days and weeks. You can carry on without a break, ending up making more mistakes and losing more money. Or you can take some time away, clear your head and get back refreshed and organized, ready for new challenges to come.
The Problem with Forex trading is that market is open 24 hours a day. You might keep telling yourself ‘I can’t stop now, there’s a new event coming soon and I have to test this trading strategy tomorrow etc.’. You need to set your priorities. Once you do so, take a look at your plan. Is that upcoming event/situation on your list with high priority and you’re feeling tired and not concentrated? Then it’s alright to take a break. The more important trading highlight in your day means more unpredictable consequences if you’re not mentally prepared for it.
Sometimes short break during the day is enough, sometimes you need to take few days off. Some professional traders take even weeks and months off just to gain insight. It’s substantial that during this time trading is forgotten for a certain period. You need to free up your mind from all what’s happening on the market for a while.
It’s presence that matters and the future is derived from the present. We can’t change the past, but we can learn from our mistakes and try to avoid them in the future. Use that time off efficiently for the future – evaluate what you’ve done so you can decide what and how to do it better next time.