Exercise Trading Skills To Kill Bad Habits
2020-07-22 | Simpler Trading Team
With volatile markets not subsiding, bad habits can wreak havoc on traders’ performance.
Compare trading to exercising for health and you’ll see why removing bad habits is so important.
Bad habits when exercising — often developed when you “go it alone” — can lead to serious physical injury. Learning a proper workout routine requires you to understand and apply healthy combinations of routines — warm up, weights, cardio, cool down — to accomplish health and fitness goals.
Proper exercise requires sound training, and it’s always great to have a community of fellow health enthusiasts, like in a gym, for encouragement and support.
Trading is much the same — traders need a proper trading plan that fits their personality and financial goals and sound strategies they can apply in the marketplace. This, too, requires training and learning “healthy” trade setups, computer platforms and tools, entries/exits, and the psychology of trading.
Simpler has extensive training programs, tools, and an enthusiastic community of encouraging and supportive traders.
Like in exercise training, you don’t want to learn “just enough” about trading to be dangerous to yourself and your trading account.
Traders at all levels are wise to learn about bad habits and even wiser to “unlearn” bad habits as quickly as possible.
When you place yourself in a proper environment — a good gym with helpful coaches — your workout habits stand a far better chance of improving than when working out solo.
Likewise, becoming part of a “healthy” trading environment — within a community of like-minded traders — increases odds of improving trading skills and results compared to trading alone.
This combination of training and community develops peace of mind which benefits the “psychology” of trading. And we’ve said so many times, mindset is most of the battle.
Just like proper exercise requires time in the gym and a commitment to a long-term health goal, traders need time learning the markets, strategies, and charts to accomplish financial goals.
We Saw: a choppy market across the board —
- TSLA earnings report beats expectations, price pops
- Nike shedding jobs, expanding digital sales efforts
- Covid-19 cases rising, vaccines gaining ground for release
We’re Watching: tomorrow’s opening after TSLA and MSFT earnings —
- Profitable target opportunities in “under the radar” tickers
- Cash position until big tech clears earnings reports
- Setups in: ROKU, TDOC, DDOG, AMD, DG
Discover a shortcut to master a certain strategy. Train and trade with Simpler Foundation.