When it comes to trading, we all know it’s a 90%+ psychological game. It sure isn’t easy either. Knowing how much of a psychological battle we go in to every day, it can really stack some stress on your shoulders. Even the best days in trading can feel like losers and it really goes to solidify my point. I say this over and over again at the end of the week to members, TAKE A BREAK! We make more decisions in a day than most people do in a week. We need to have a way to release some of that pressure to come back the following week ready to roll out.
As a trader, and maybe you all don’t have this where you live, but finding another trader is almost impossible. The rare breed that sometimes materializes in to the public only to vanish again without a trace. Being able to share ideas with someone who has even an inkling of a clue as to what you are discussing is a near godsend. Sure, there are friends and family who love to ask ME about their portfolio and what they should do, but the minute I talk about a standard deviation, their eyes gloss over and I would be better served talking to a wall.
This is where having someone, or a group of someone’s, is so important. Even if you are only able to locate one person. I personally act as a support partner for a few members because they just couldn’t find anyone. This industry can be very isolated. Some of the best partners to have are ones who oppose your ideas. It isn’t easy to talk to them sometimes, but knowing they aren’t going to BS you can be a huge factor.
When finding someone to act as an emotional support partner, you need to be upfront with them. Tell them that! Let them know what you want out of it and be totally up front. They can’t help you if you don’t know what you want. A few things to consider as requests — Being very, totally, brutally honest (AND you not punishing them for it!) Let them know what the conversation is about before dumping a giant pile of stress on their shoulders. Start off with, “Hey, I am going to blow off some steam — I don’t need any input, I just need you to listen for a sec.”. After that, there won’t be any judgement about what you say and it shifts the conversation to helping, not hurting.
From there, go for a quick jog or do a fast 3-5 minute physical body-weight workout… 5 Jumping jacks. I don’t care, just do something to relieve the physical stress that mental stress can leave you with. Your mind may be solid, but if your body isn’t, it’s just a matter of time before the temple crumbles. As always, stay safe out there, keep those stops in play, and let the winners run!