Take Time Off

Hello Traders,

Like any profession, burn-out potential certainly exists with trading. I used to look at my charts and literally see a blur. That’s when I knew I needed a break. The bad part was missing a lot of good trades while I was away. It took a while to get over the mindset of lost opportunities, but once I realized I can’t have everything, I began to relax, calm down and really appreciate time away from the markets. Just like a good vacation, a chance to recharge and regroup is important to stay sharp and on top of your game.

With the holidays upon us, the markets also go on holiday. Sure there are still plenty of trading opportunities, but you’ll begin to notice the ranges typically start to narrow this time of year. With all of the time I do spend trading, I like to get away entirely and leave town, turn off my computer and start for formulate my plan for next year. I revisit my financial goals, my past year’s performance and other personal checklists that involve my family. It’s a good time to get a renewed perspective. I always want to improve in every aspect of my life – not just trading. Getting away from the markets lets me take some time to focus on other important things, take inventory of the positive and negative of the previous year and make adjustments.

Many of us don’t take the time to establish goals, formulate a plan, or at the very least, put together an agenda. We just live day by day and moment by moment and assume it’s all going to work out. When I was younger, that used to be me. I realized without a plan, I was just wishing and hoping. With a carefully thought out plan, I now had a roadmap and I could measure progress against and direct my energy and efforts.

The other big lesson I learned is you have to play hard to make the hard work worth it. That is why taking time off is so important. You have to stop to reflect and spend time doing other things you enjoy. These are worthy distractions that will keep balance in your life and keep your psyche healthy.

Getting away also generates renewed enthusiasm – at least for me. Being away for a while makes me anxious to return; more committed, focused and determined.

Relax during the upcoming holidays and understand that the markets will be there when you return – you’re not missing anything.

Trust me. Upon returning you’ll feel more empowered, motivated and appreciate the skill you’ve acquired that can make such a remarkable difference for you and your family.

This is the perfect time of year to take a break.

The markets will be waiting when you return.

Happy Easter.

Rick

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