How many of these statements could be used to describe your trading ?
- Indecision, difficulty recalling and organizing details required for trading
- Poor time management, losing track of time
- Avoiding trades that require sustained attention
- Difﬁculty initiating a trade (paralysis from analysis)
- Difﬁculty completing and following through on trades (cutting losses and letting profits run)
- Difﬁculty managing multiple trades
- Difﬁculty shifting attention from one trade to another (get caught up in the “should have, could have” rhetoric)
If you answered yes to 6 or more of the above statements, odds are you may struggle with ADHD. These statements above are the criteria that a counselor/psychologist would use to diagnose you. The only difference is that I replaced the word “task” with “trading” and added the parenthesis. A well defined trading plan can lend itself to keeping ADHD in check during your trading. Find yourself, then trade.
Trading plans are designed to help maintain focus and manage emotions, not eliminate losses.