Do you ever find yourself struggling with your discipline, productivity, and focus while trading on your own? If yes, you are not alone. In particular among people who decide to venture into full-time forex trading, it is common to experience some difficulty in transitioning to a life where nobody tells you what to do all day long.
If this sounds familiar to you, then read on. In this article, we will give you some invaluable tips on specific techniques that you can use to structure your day, supercharge your focus, and boost your trading results.
As we have talked about in the past, having a daily trading routine that includes at least some physical exercise is vital in order to perform at the highest level as a trader.
Despite being an obvious benefit, however, this step is often neglected, and we are experts at finding all kinds of excuses for not working out. One advice on how to overcome this is that you must make it part of your daily routine, for example by doing it every morning. Once something has become part of your routine, your whole thinking about it changes, and it becomes something you look forward to every day when you wake up.
For good reason, mobile apps that guide you through the workout session have become extremely popular in recent years. Many people are for example looking forward to following the “7 Minute Workout” every morning. This is the step you need to get to in order to really notice an effect in your daily productivity and trading performance.
Getting up in the morning
Getting up too late in the morning is another common problem, especially among people who have just quit their jobs after having been forced to wake up early for work their entire life. When you, for the first time in life, don’t have anyone that expects to see you at the office in the morning, staying up late at night and sleeping in in the morning becomes almost inevitable.
However, it is crucial that you fight back against laziness in your life. Again, a daily trading routine that you follow almost religiously is key to manage your new life. If you’re trading stocks, this is easier since the market dictates when you should start and stop trading. In the forex market, however, this works differently.
In a 24-hour market like the forex market, you need to create daily trading times that you follow. You could for example choose one trading session only that you actively follow, for example the Australian/Asian session. In that case, you are better off letting the market do its own thing during the European and US sessions when you are not trading. Just as it is important to know when you should be working, it is also important to know when you should not be working.
Learning to “time block”
If you are a full-time trader and haven’t heard about the concept of time blocking before, now is the time to learn about it. It’s a powerful way of structuring your work day in order to maximize focus and productivity throughout the hours of the day, and is recommended by many successful people.
A time block is essentially time reserved in your schedule to focus on a single task at hand, uninterrupted. All other tasks that come your way, such as important emails and messages, will then have to wait until you have completed that task. Try to split your day into two or three time blocks with proper breaks in between, and chances are you will experience a dramatic improvement in your productivity.
As we all know, trading is all about continuous learning and development. And in order to learn, it is essential that we can keep our focus on a daily basis. Only then will you be able to truly master the art of trading and achieve your ultimate goal of becoming a full-time independent forex trader!