Is It A Time To Take A Break From Trading?
Those on the journey to become a profitable trader with high consistency in the effective strategies execution—needless to say, their lives are extremely hectic. Even when they aren’t trading, they have to sit down, read charts, analyze the market, find opportunities and then make their moves.
Getting burned-out quickly is quite common. At such times, they reach to a point when they have to make an important decision—should they continue or take a break?
If you’re at the same conjecture, burnout and tired from trading, it’s likely the time to take a small break. And maybe go on a holiday?!
Not sure about that? Here are 5 signs pointing south that you should take a break from trading now-
You’re experiencing consistent losses
If you’re taking losses in all your trades continuously, it’s very important that you take a step back to analyze things and understand why that is happening.
You’re revenge trading
Revenge trading is when you’re taking losses and still continuing with much more rigor, hoping to recover your lost money. Needless to say, these traders end up losing even more. So if you’re revenge trading, you better leave right away.
You’ve been doing this all alone
Trading is much more profitable when done along with an expert or best online stock trading company who knows how to improve your return rate. But if you’re doing it all alone, you would get tired and lethargic much more quickly. In that case, you definitely need a break.
You’ve been in this game for way too long
After certain duration, you need to take a leave. Beyond this threshold level, if you continue trading by forcing yourself, you’re going to be much less productive and efficient. So if you haven’t taken a break in long, now is the perfect time.
You want to leave but think “you can’t”
At times, so hooked in the market, even when traders want to leave, they don’t find any ideal opportunity. Have you been looking to leave too but not finding the “perfect time”, stop trading right away. Close all trades that look uncertain and hold others. And then take a break.
These are 5 tell-tale signs that say it’s time the trader must take a break from this game.
If you see any of these signs in your story, you now know what to do.