5 tips to successfully synchronise trading with your everyday life:
One thing I think every serious sport trader has faced is how tricky it can be to fit trading around your everyday life. When every trader starts their journey they will have to add trading to a likely already packed social schedule. Well the good news is that it does not have to be one or the other. Some compromises may have to be reached but there is no real reason that both sides of your life cannot work together in a seamless way. Here are some solutions I have worked into my life, they may not suit everyone but hopefully will help.
- Work out a daily plan
Sounds simple enough but I know many people still do not structure their day beyond an employed job and childcare duties. However, the gaps in the day that we do not fill often become very unproductive, so be intentional with planning your free time and adding your trading to that. If you work full time, commute a fair distance and have a family to take care of you may only have weekends or days off to trade. That is fine, but put time aside to do it, if you have 2 days off a week that is 32 hours to do things, surely a 4-5 of those could be for trading.
- Fit trading around your social life (especially if you work elsewhere full-time)
Seeing other people and getting out of the house is very important for us as we are social beings (although sometimes we may not feel we are). If there is a big family event on that you want to go to then make sure you do, no reason you can’t get some early morning trading done on weekends and even on weekdays it is rare people want to socialise before 7.30pm. Trading is not to be rushed but if you can grab an hour here or there to trade then there is nothing wrong with that
- Be honest with your loved ones
Trading is technically gambling and that word sends shivers down the spines of most people. So much so that many traders keep a lot of what they do under the hat. This is the worst thing a trader can do, not only does it ruin trust in their relationships but it also avoids any accountability they may have to any losses they make. I remember telling my wife about a big couple of grand loss I made and whilst it was very tough to do, a weight was lifted. The thing is since that day I have never made that kind of loss again, as I knew it would not only impact me but also my family. Also, as I have talked about trading in depth she now understands it and even defends it to other people. This can be achieved over time but not if you never share what is going on. Also, the more your loved ones understand, the more they will accept it as an important part of your life, allowing you to make time for it without having to feel guilty.
- Enjoy the off season!
This is really relevant to me right now as things have slowed up due to Euro 2016 being over and the new footie season not starting until early August. In these brief few weeks I can have a chance to take it easy and get out more during the day; being self-employed you do not get paid holidays so you have to make the most of the downtimes.
- Get the work done
If you only have a limited time to trade, then trade during that time. When you trade from home it can be so easy to be distracted with the television on in the background or the fridge not too far away. As we know the internet itself is one great procrastination tool so try to avoid getting distracted by adverts and articles like ‘Look at how these child stars have grown up now’ etc (this is more a personal message to myself as sometimes I get so distracted I literally have no idea how I ended up reading about Kim Kardashian’s personal life). In all seriousness though, if you crack on with work it is amazing how much more you can get done in a couple of hours than if you do it half-heartedly, I would say for me the work can double or even triple!
So these are a few tips to hopefully give a bit of help to those struggling to fit trading into their lives.