You are no longer able to trade consistently and profitably. You understand that trading, the market and everything connected with it, you are sick and tired of it! There comes a state in which you completely lose interest in Forex, feel the accumulated emotional and psychological fatigue and physical exhaustion. You don’t want anything and nothing pleases you. You start to hate yourself, the market and the whole world around you
Causes of “burnout”
- Monotony of trading. Trading is a difficult, boring, repetitive activity. As a robot, you do the same thing every single day. Market analysis – drawing up a trading plan – executing a deal. No creativity, no flight of imagination, no multi-faceted tasks. In one word – routine!
- Market uncertainty. You need to understand that you are not trading currency pairs, but the probability of a particular scenario (the price will go up or down). And no matter how well you do your homework and preparatory work, there is always the possibility that your script will not work. And this, in turn, leads to the feeling that you are not in control of the situation, that you are not achieving the desired result and, as a result, disappointment.
- Workaholism and isolation. Trading is an individual activity. Forex is open 24 hours a day, 5 days a week. And if you follow the market all this time with a break of 2-3 hours for sleep, then you simply do not have time and energy for everything else. Your whole life is spent in front of a monitor screen, in fear of missing your best deal. You end up sacrificing other areas of your life for trading. Turning into a kind of unsociable hermit, who has only graphics in front of his eyes.
- Pessimism in life. If a negative outlook on yourself and the world around you incinerates you from the inside and leads you to wild despair, you give yourself an inner attitude at the start that you are a failure and nothing will work out for you. Thoughts materialize, and you get what you thought – another failure.
- Health problems. The wrong regimen, problems with sleep and chronic lack of sleep, lack of physical activity (you spend all day in a chair) sooner or later lead to health problems. And when there is no health, nothing pleases you, you don’t want anything and you don’t need anything.
Early Burnout Symptoms
- You are haunted by the feeling that the new day will not bring anything good, that the new trade (even before the trade is opened) will be unsuccessful.
- It is morally difficult for you to trade. There is a feeling that you are wasting time and energy on a completely useless activity.
- You feel physically tired. You are deprived of vitality and energy.
- You are tired of everything you do. The thought that you have to trade again depresses and irritates you.
- You withdraw into yourself and stop communicating with your family and friends.
- You try to get at least some kind of high out of life and start to “seize”, “drink” or (God forbid!) “Sniff” problems.
What to do with burnout?
Complex issue! And there are no universal solutions. Emotional burnout in trading is dangerous because in the wake of frustration in trading and forex problems, you can completely ruin your whole life. Therefore, this problem must be solved in a complex. we will try to sketch out trivial advice that we all understand and know, but do not always follow.
The first step is to stop trading. Maybe for a week, maybe for a month, maybe for six months. Then, when you are cool and relaxed, take a piece of paper in a calm environment and state your goals, objectives and expectations:
- What are your trading goals for a month, a week, a day? Math is powerful and great for setting goals. For example, you want to earn 20% per month on Forex from your deposit. Divide by 4 weeks, we get 5% per week. Divide by 5 working days, we get 1% per day.
- Ask yourself, how realistic and achievable are your goals? Can you achieve them by adhering to your money management and risk management rules?
- What changes do you need to make to your trading system to get back to trading and trade stress-free? For example, reduce the size of a position, stop or profit to a value that is comfortable for you. Revise your market analysis, correct the definition of entry-exit points and position tracking.
- Where can you find communication, support and feedback with other traders? As I said, you are not alone – 95% of traders to one degree or another have experienced the same problems in Forex and went through the “burnout” effect.