We all have our ups and downs but it’s those times when the downs appear to lack a bottom that can keep us from being a profitable trader.
Just like the recent price action in the markets our psychological capital can see a similar trend. It’s not fun sitting, waiting, watching the swings, second guessing yourself, etc. It’s not easy and those that show the discipline needed to trade smart tend to hold on to their “mind money” for longer periods of time.
Dr. Brett has some great resources regarding burnout and I thought I’d dig up one of my faves. He writes about the early warning signs of burnout. Here are a few:
- Loss of Motivation
- Cynicism
- Exhaustion
- Sleep Disruptions
- Substance Abuse
Losing trading capital is one thing but losing psychological capital is far worse to a trading career. Head on over to read about some solutions that the good Dr. suggests.