Fatigue: Overcoming for Profits and Health

Fatigue: How to Overcome Fatigue to Keep your Health and Profit

Forex is open 24 hrs a day, 6 days a week with virtually unlimited liquidity due to the massive and continual movement of currency across the world stage. It is a giant unto itself. Since the market is so vast and so potentially profitable it is easy for the neophyte trader to stumble into the opportunity of vastness. Many traders beginning their career spending countless days on end without sleep waiting for profitable opportunities. Their quest to attain their dreams and goals within just a few short days, weeks and months blindsides them to the possibilities of having a part time career profitably staged over many years. The daily volume and sound of the cash register reign supreme for many day traders only to overstep their bounds as they mentally and physically fatigue themselves to exhaustion. As fatigue steps in so does lack in focus and emotional control, this unchecked, leads to the liquidation of their accounts and the subsequent loss of personal dreams. In order to combat fatigue it is important to understand that the market is huge and continues to grow on a daily basis now encompassing over 2 Trillion USD per day. Thus trading opportunities in the future may increase proportionately as the market grows.

In order to overcome fatigue traders need to understand how their objective trading system interacts with the market. Most systems have specific times during the trading day which offer the most probable opportunity for profit. In order to be disciplined you will need to follow the simply step by step rules. Most trading systems tell you the desired time frames to take trades in. Make sure you strictly adhere to these trading times and opportunities. This will enable you to catch well deserved rest and relaxation during ‘non trading' time frames. Once you have trade station mechanics well in hand you may want to search out for trading systems with longer term time and scale periods. As you understand your trading system you will start to develop the ability to master your system as it mechanically manifests itself on the charts. Therefore a quick two or three minute glance at the few currencies you start to specialize in will give you enough insight as to when you think the price action will take place to give you the best opportunity for profits. By doing this you don't need to be tied to your computer for long periods of time throughout your career and thus you can keep your health and control your mental and physical fatigue

From experience I see most traders burn out from excessive scalping of the market. Money management and lot allocation according to a traders stop loss is instruemental for their long term success. I have found due to my 'insane' schedule is to trade based on analyzing the longer term charts (DAY, 4HR TO 1HR) and trade according to longer term directional fractals or wave patterns coupled with shorter term entries. The wave fractals give me my longer term forecasts, and the shorter term fractals give me access to the market in mid stream, not tops or bottoms where many traders get crushed. I simply put in entries and revisit my trading station when up in profits to deal with lot allocation and stop loss movement into profits (if it exists on the longer term trade taken). This allows me to do my day to day business and family while still keeping profits rolling in the market place to beat the recession and inflationary pressures on my purchasing powers. Forex should be a lifestyle and not your life. Do not get out of balance. I hope this helped.

Russ Field

Currency Coach

TEAM FXP
http://www.fxcourse.com/

rfield@fxcourse.com

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