Home » Finance » Currency Trading

Trading Income for the Psyche

Aug 31, 2008
After you've been trading for awhile, you might find that the initial magic that kept you going is starting to wear off. Many traders come out like gang busters for the first several months and then hit an energy slump within their first year. The way you determine that you're going to handle it will determine whether or not you happily last in the business of trading.

While physical income is vital to physical survival so is an income for the psyche vital for the survival of the mind. Being bored, dropping your enthusiasm in exchange for predictability, or becoming discouraged with the length of the process can commonly creep into the trader's life during their first year. Of course, you can stay there and eventually you will find that all the joy you thought you would find in this line of work was a mirage or you can evaluate your mind frame and make a few alterations.

We have all heard that people who are rewarded for their career with more than just money are the happiest people, especially while they are at work. And this is true. You can't continually do something challenging (or too boring) just for the money. Eventually the money doesn't look like much when your happiness is on the line.

Why did you get into trading in the first place? Most of us launch into this sort of career for the money. However, there are added benefits of trading that many unhappy investors choose to ignore or forget that when they first got into trading there were many forms of income for the psyche. Now that it is old hat, finding that income might not be so easy.

Some traders have a habit of giving themselves their own excitement by seeking out risky trades when they find they are lacking in the income for the psyche. This can lead to significant losses, and the adrenaline rush is short lived. There are safer ways to gain back your income for the psyche without risking the account on a few high risk trades.

One of the most attractive paychecks that the psyche receives is the freedom of time that some traders experience. You do get to choose your own schedule. You can take time off, work long days, short days, or whatever meets your fancy at the time. If you are experiencing a slump, take a day off and recharge. If you are experiencing chronic frustration, look at your alternatives. Often knowing what else we would have to be doing if we weren't trading is enough to bring back the joy of trading once again.

No physical income source is fun all the time. There is something unappealing about every single form of employment out there. Unless you are independently wealthy with the ability to spend as you wish, there really isn't much else you could be doing that would bring you quite so much freedom and satisfaction, otherwise you would have chosen to go and do it.

Lists can be helpful. Make a list of what you're doing, why, and what you expect to gain from it. Evaluate and update your list during the slumps. It doesn't really matter what you prefer to do when you find the business of trading is becoming a little tedious or taxing. Considering the stress level that many traders find themselves under, it is no wonder that every now and then traders need a little boost regarding their love of the job.
About the Author
If you would like to immensely improve your trading and investing results, check out www.secrets2trading.com
AND for a Limited Time, you will also receive a FREE copy of a limited number of the amazing book "Trading In The Zone" which is jam-packed with daily trading ideas and psychological preparations to instantly improve your trading and investing performance.
Rating:
Please Rate:
(Average: Not rated)
Views: 164
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources