10 POWERFUL WAYS TO A HEALTHY, WEALTHY AND STRESS FREE LIFE IN STOCK MARKETS
READ THESE 10 EASY HACKS TO LEAD A HEALTHY WEALTHY AND STRESS FREE LIFE IN THE STOCK MARKETS
Today, we live in an ever changing dynamic world where there’s so much going around us and at such a fast pace, the stress comes as a byproduct of our lifestyle disorders and sometimes as a byproduct of our failures in the stock markets. STOCK MARKET is not an arena where you win every battle that you fight every day, especially when it comes to scalping and intraday trading. Apart from markets there is pressure coming from all other spheres of life – be it family, friends, relatives and our surroundings. (Corona pandemic has been around for an year at the time of writing this piece.)
READ ON TO KNOW HOW WE CAN LEAD A HEALTHY WEALTHY AND STRESS FREE LIFE WITHOUT GOING OUT OF OUR WAYS.
1. MANAGE YOUR POSITION AND RISK IN EVERY TRADE
All brokers provide you with margin facility. Analyze your risk appetite, maximum capital draw-down and maximum loss in each and every trade, that you can take. Plan your trade and trade your plan, what this means is that you should never ever jump in to a trade without a plan. Your entry and stop losses should be already planned, your targets and trailing stop losses should be very clearly defined. You must never take bigger positions than you can handle and main focus MUST be on capital preservation at all times. As per data, almost 90% of the traders lose 90% of their capital in the first 90 days of their entering into the trading arena. And they rarely come back and hold the markets responsible for the disaster.
2. STICK TO A PROVEN TESTED GOOD RRR STRATEGY FOR AT-LEAST 22 TRADING SESSIONS
New traders always look for a holy grail in the markets and they keep hopping from one strategy to another and keep switching from one trading system to other. Strategy only accounts for 20% of the whole plan, rest 80% is how you manage your risk and keep your head straight (psychology).
There is no holy grail system which works 100% of the time in markets. A proven and tested system with a RISK REWARD RATIO OF 1:2 and 50% win rate is good enough to keep you consistently profitable month over month and year over year. Do a little math and you will agree with me.
Do not frequently hop from one system to other. Time your trade well at a perfect price with a little bit of data analysis and rest is luck. No two traders entering at the same price at the same time will make same profit or loss. LUCK plays a little role.
3. ALWAYS PUT A JUSTIFIED STOP LOSS IN THE SYSTEM – ALWAYS CUT YOUR LOSSES SHORT
Always keep your stop loss in the system and not in your brain. Place the stop at a place where your trade can properly breathe, look for supports and resistances, highs and lows, supply and demand areas. Place it a little above or below the identified levels to avoid fake outs. Never change your stops – always cut them short and always hang on to your winning trades.
4. NEVER OVER-TRADE – NEVER REVENGE TRADE – BE PSYCHOLOGICALLY STRONG
Market is SUPREME – never fight with it. Be mentally strong, never risk that part of money in the markets that you can’t afford to lose. Decide your daily take away from the market and give away to the market. Once you have got what you had decided early on, take it and move on. Do not over trade. Do not sit in front of the screen the whole day. You will mostly lose what you had earlier got. Similarly, once the market has taken away from you what you had agreed and decided to give to the market, let it go. Do not revenge trade with the markets to get back what you have lost. You will lose more.
5. CREATE A STRICT DAILY ROUTINE – TIME FOR EVERYONE INCLUDING “ME”
The moment you establish a routine, even the problematic situations that you encounter in daily life also becomes a part of it. Plan your day well in advance. Keep time for your family, friends, relatives and your hobbies. Wake up early, go for a walk, take your meals on time and go to bed early. When there will be a plan in place for the day, the people and things that are a part of it will be taken care of, automatically. As trading is already a stressful activity, make sure to take out some “ME” time everyday to feed your mind, body and soul with what you love to do!!
6. TAKE REGULAR BREAKS BETWEEN YOUR TRADES
Sitting in front of your monitor for long hours is a great deal of pain for both your body and mind. Sitting for long hours without breaks also raises your risk of heart disease, diabetes, stroke, high blood pressure, and high cholesterol, which all play a role in the condition called DEMENTIA. Moving throughout the day after every 30 minutes can help even more than exercise to lower your risk of all these health problems. Sitting for long hours shortens your life, helps in gaining weight, spikes your anxiety, puts huge stress on your back and it all leads to stress. 20 seconds break after every half an hour can help you get away with all the problems.
7. PREPARE A TO-DO CHECKLIST
Making to-do checklists for all the planned activities will help you take things one at a time rather than mentally preparing it and looking at things that you have to do, with an overall perspective. Also, successfully crossing off things one by one on your checklists gives you a sense of pride and accomplishment. You will feel less stressful, happy and it will KEEP YOU MOTIVATED.
8. GET MOVING – EXERCISE AND MEDITATE DAILY !!
Make sure to accommodate time for daily exercise and meditation in your daily routine and to-do list. 30 minutes walk, 10 minutes running and 20 minutes of meditation early in the morning can help you lead a happy, stress free and fulfilling life. It can save you from financial, mental and physical loss in the long run. You will reduce your chances of getting a heart disease, diabetes, stroke, high blood pressure, and high cholesterol. Exercise and meditation helps you concentrate, keeps you away from anxiety, healthy and stress free.
9. WORK ON DEVELOPING NEW HABITS
How are you managing your stress? Smoking cigarettes, munching a bag of potato chips, consuming alcohol or yelling at your partner? None of these habits are productive, nor are they going to help you relieve off your anxiety and stress. So called happy hours at a fast food joint, smoking cigarettes, gulping down pegs of whiskey at a pub makes for a “”not so happy”” future down the years with age. If gulping down a peg or two and smoking cigarettes like a chimney are your stress relievers, it’s time that you re-evaluate your choices. It’s a fallacy that you’ll feel anxious, stressed or go through sleepless nights without consuming alcohol or smoking for days to go. Look for alternatives, develop good habits of reading, traveling, cooking, helping your partner and save yourself from life style disorders. Watch movies, occasionally, relax and rejuvenate to keep yourself charged and stress free.
10. NUTRITIOUS AND BALANCED DIET, WATER AND 7-8 HOURS OF SOUND SLEEP
Balanced and nutritious diet, including right dose of nutrients and antioxidants will help you lead a healthy, immune and disease free life. Avoid overeating, junk food, cell phone, PC, Laptop or TV while having your meals. Breathe deeply throughout the day and consume 3-4 ltrs. of water and fluids. Avoid drinking water just before, during and after the meals. Exercise and meditation helps you to sleep for 7-8 hours daily, make sure to switch off the TV and put your cell phone on silent before going off to sleep. Adequate amount of sound sleep helps you wake up fresh the next day and gives you the power boost to plan your next day effectively and efficiently.
CONCLUSION – GET STARTED NOW !!
Don’t wait till tomorrow, plan and execute it today – because tomorrow never comes. Contentment and happiness are the output of your personal efforts. You have to insist upon it, strive for it, thrive for it, look for it, and fight for it. You need to do it – Persistently, rigorously, and seriously if you wish to have a happy, healthy, wealthy, and stress-free life. Happy trading, be profitable, live longer stay safe ad stay blessed.