Forex traders cannot perform at their best unless they are sound in health of the body and mind. This profession involves risking big amounts of money and this in itself is the biggest stressor. This can cause a negative emotion if things do not go in the way that the trader hopes them to. To keep in top form, the traders also have to ensure that their lives outside are in proper order so that they will able to take decisions in the best emotional state.
Why is Good Health of the Mind and Body Important for a Forex Trader
Health of both the body and the mind determine the profits in the longer term for a forex trader. Any overworked trader who has lack of sleep, muscle strains is prone to make mistakes during crucial situations and may even make a mistake in the calculations. Such situations can make any trading plan go awry and result in huge financial disasters and add to the woes of the trader. Read on to get a few tips on how you as a forex trader can remain in top form, both mentally and physically, and have the best run every time you trade.
Are you Healthy ?
It is a good idea to determine your current health status by asking these questions:
• Are you getting worn out frequently?
• Do you feel drowsy most of the time?
• Do you constantly feel drained out of energy after your trading sessions?
• Do you eat junk food often?
• Do you drink coffee more than what is required?
If your answer some of the questions above in the affirmative, it is time to take better care of your health by following these tips.
Tip #1: Manage your weight
The job of a forex trader is known to be sedentary and fraught with mental stress. These are conditions that can cause weight gain. Indiscriminate eating of junk food to combat stress and lack of any physical activity can cause weight to go up and play havoc with your health. To combat weight gain, it is important to count the calorie you intake and have some form of physical activity to expend the excess calories. It is also important to find out the basic cause for overeating and eliminate it. Ensure that you get adequate rest as well.
Tip #2: Be fresh in the mind
Constant exhaustion is a sign that you are fatigued in body and mind. Stress on the job can exhaust any forex trader. The result can be frequent headaches, migraines, lack of concentration, irritability, moodiness, etc.
To stay fresh in the mind:
- Meditate regularly
- Stay active physically
- Follow a regular time-table
- Spend your energy on the right activities
- Have nutritious food
- Remain well hydrated
Tip #3: Control anxiety
Forex trading is unpredictable and is likely to cause many an anxious moment during trading. However, if you are prone to becoming nervous during every trade that you attempt, it can cause panic attacks, restlessness and palpitations. Constant recurrence of such symptoms can have a bad impact on your physical as well as mental health. An important aspect whereby you can avoid these situations from recurring is by arming yourself with a good trading strategy and sufficient advance planning and preparation. These will help you to reduce the nervousness and feel more confident.
If you are a beginner trader, it is good to start with a demo account in which you can practice. It may also help to be a part of suitable forums to discuss issues and get help from more experienced traders for the difficult problems. It is a good idea to be conservative with your investments till you get a clear grip on trading methodologies and strategies.
Tip #4: Get an adequate amount of sleep and rest
If you are suffering from insomnia, it will soon tell on your health. Insomnia stems from specific psychological conditions. It may also be because you are ingesting certain substances. If you are a forex trader, it may be because you are trading during the hours that you should spend sleeping. Your excessive thinking about the current market conditions may be keeping you awake. It may be that you are ingesting more coffee than you should. Having food at late hours or watching television can also be reasons.
To combat insomnia, it is important to have a healthy and consistent food – sleep routine. The body should also be reasonably physically active during the day. Have your meals early and cut down on coffee intake. Turn off all distractions from the electronic media (including mobile phone and television) a little before bedtime. Put aside any worry that you may have before you retire for the day.
Tip #5: Keep your physical fitness a top priority
Forex trading is a sedentary job and sitting for too long can tell on the physical health of the trader. It is important to maintain the correct posture while sitting to avoid issues related to muscles and bones. A physically unfit body also gives rise to bouts of laziness that may cost you the profits in your trading endeavour.
Maintaining physical health can be through a regular fitness routine that helps to keep your muscles and bones strong. Muscle sprains and strains will be absent. Regular exercise will release endorphins and keep you in a good mood and vivacious throughout the day. It will help you from putting on weight or becoming obese and thus prevent you from getting into routine lifestyle diseases. Taking a brisk walk, running/jogging in the mornings/evening, lifting weights to tone muscles or visiting a gym can be done either singly or in combination to maintain top physical form. Intermittent exercises for the neck and arms when sitting for toll long at the traders’ desk is advised. It is also vital for the trader to follow good eating habits, that is, eat food foods with good nutritive value and keep away junk/convenience foods.
For any trader it is important to realize that forex trading is a marathon and not a sprint. Maintaining sound health of the body and mind is therefore a step in the right direction toward successful and profitable trading in the long run.