If your trading routine is plagued by lack of sleep and a gallon of espresso shots to down its after affects, then these tips given below should be considered nothing less than a holy grail, to make your eye bags finally disappear along with granting you an active mindset for efficient trading.
Sufficient sleep is the number one prerequisite for a sound mind. Get at least 7 hours of sleep a night as nothing can ‘compensate’ for the lack of sleep. Your body will ultimately give up on you and your reasoning abilities will be impaired. So hence, if it is not already, then it is finally the time for your sleep cycle to fall in to the cleft of the maxim "early to bed, early to rise makes a man HEALTHY, WEALTHY and WISE."
After proper sleep comes a proper diet and specifically a proper breakfast.
After a 7 to 8 hour sleep your body requires a complete fuel refill to operate properly and drinking plenty of water throughout the day along with a proper diet also keeps you hydrated and helps manage the cycle of your appetite. Also try and keep a consistent routine of physical exertion.
How to Get Started
Getting started is often the biggest activation barrier but once you get over it you will definitely notice a breakthrough in your mental and physical capacity. After you've made sure that you are physically there, remember to not forget having a life. Yes, trading is a necessary part of your system and yes, you need it, but it shouldn't be all that you have.
A social life saves you the ditch of turning into the trade paranoid underwear guy. So have hobbies. And remember not to be boring. Have a prepared mind. Keep tabs on the flow of the market and prepare your trade from a week before as, luck favors the pre-planned.
Thinking that the glass is half full rather than half empty will at least earn you the satisfaction so be positive, as optimism is the trigger to move forward. What you need to know, is that a day or week or even a month’s trade won't determine your overall performance.
It takes years to reach the zenith of your desired position in trade. Therefore, focus on mastering your trading strategy and fall in the discipline of a trading routine.
Stick to One Strategy
Master and hold on to your own strategy rather than a milk shake of strategies that will take you nowhere. Do not absorb too much market talk that it saturates your mind. It is good to be actively involved in the market but dangerous to be obsessively involved, so make sure to maintain your distance.
Another important point is to keep it as untangled as possible.
Simplicity is key. Have the approach of a minimalist and do not over think, over analyze or over strategize a situation as it may cause you to over involve yourself in unnecessary circumstances.
Last but not the least, never ever think of it as a backdrop to take and extract help from another person's approach. As a beginner a lot of mistakes can be avoided if you follow in the footsteps of an expert trader because trading is not a random dart that will strike with luck. It requires approach, proper framework and a full-fledged strategy. So, develop a sound trading routine that you fit into like a jelly mold and enjoy a better trading experience.