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Ten Ways To Enjoy Trading

How can I make trading more enjoyable?
Like many technical traders, I have been through really stressful times, in fact painful moments as a day and swing trader.  After those times, I wanted to know how one can make trading more enjoyable.
Lets get started.

Avoid Over Trading

The first thing one must do is to stop over trading if one is losing. It does not help to over trade when one is losing.  So one wants to trade less if one is still at the bottom of the pit of day and swing trading.

The lesser trades one begins to take the better because one will be focusing only on the best trade setups.

2 Hours For Day Trade

Day trade only during the first two hours when London or New York is open.  That is it.  After those hours, it may not be so enjoyable to trade.

Never Place A Trade Without A Trading
Signal

Only those with a very deep pocket or are day and swing trading with somebody's else money can afford to buy or sell without a trading signal.  Please remember the trading drill (Setup, Signal and Entry). 

There is always a trading signal to sell and buy.  Why should one buy and sell without a valid trading signal?  It does not make sense.

Now you see it. 

When one enters a day or swing trade without a trading signal, it often adds more stress.  

Remember the last time you enter a trade, and it was without stress, swearing, banging tables, smashing computers or calling your mother.  That feeling is great and it helps to repair past damages.  One wants more of those as a day or swing trader.

Always Use A Top-down Trading Method

You know that by now I should have received an awards for talking too much about mastering top-down trading.  It is just too important. 

If one identifies a valid trading setup, one can still lose though one is correct that the stock or currency pair will rise or decline.

By using the top-down trading method one will improve both the market time ( accurately timely entry) and risk management. 

One can lose, but one will be more forgiving to oneself if one has traded like a pro.  It is possible to enjoy even a losing trade in those instances.

Bank Profit

It is always nice to partially or fully bank profit.  Until the money is in the bank it is just paper money.  That profit can be erased if the price moves against one. 

Have you ever been in a situation where you are smiling broadly because a position is profitable; but in the next minute, it all changed? Do not worry, you are not alone.

Most traders including myself have been there.  Believe me, it is not because one is born unlucky.  The price can change direction at any moment due to other financial markets factors.

So bank some profit without leaving too much money on the table.  Would that make your trading more enjoyable?
At least your trading fund will like that.

Know Your Weaknesses

One of my trading weaknesses is that I was not drawing my trend lines.  I was also  ignoring the economic news.  Evidently, my trading becomes more enjoyable after I started to amend those weaknesses.
Please do the same.

Trade Financial Instruments That Smile To You

Just stop trading financial instruments that often lead to losses.  Probably, those are not for you.  There is nothing wrong with those financial instruments, but if one is losing then one ought to stop trading them.  Stay away from illiquid stocks or equities.

Do Not Trade If You Are Tired

Many technical traders try to trade round the clock.  They trade London, New York and Asian sessions.  Then again as London Stock Exchange opens in the morning, they repeat the same madness. 
On Sunday night, as soon as the Asian markets open, they begin to trade.

What is going?  Please one ought to seek help if one is addicted to trading. 
It is clear that fatigue will negatively impact trading results.  Get some sleep, rest well and shut down those trading computers.

It Helps To Go Away

I believe that it is advantageous to day and swing traders to take time off from trading.
I am not talking about going away just for a week, but a month or more even a year especially if one has been dumping money instead of gaining.  During that pause, one will re-examine one's goals, and if trading is not for one then it is time to find something better to do.

At the same time, one can also use a demo account and begin to polish technical trading skills and knowledge.

Have you ever taken time off from trading?

Know Who You Are

A technical trader who does not know who he or she is can fail to enjoy day or swing trading.  Have you been day trading instead of swing trading because you did not know that you are just a good swing trader?

Have you been saying to yourself that you can trade instead of investing?  Have you been day trading instead of scalping?

Obviously, some of us are multi-talented market participants who can trade and invest.  Are you of the same feather?

Without focus, it will become difficult to profit in the financial markets.
Know who you are and stay focused.
Once you now know who are, keep upgrading your skills and knowledge by puttingin your max.  What one puts in will help.  Lazyness will not help.
That is it.

Conclusion

A trader who enjoys trading is more likely to make better trading decisions.  To alleviate the pressure of day and swing trading, technical traders ought to do everything to enjoy the financial markets.
I hope those ten tips will help one to begin to enjoy technical trading.  Enjoy more trading.

If this article has been useful to you, please share it and say few good words about us in your number one trading forum. 

This article is written by G Beaulieu
founder of Stochastic-MACD.com.
Happy Trading To All.