Is Trader’s Block Driving You Nuts and Impeding Your Success & How can you Conquer it?
A fresh start is something I always strive for and I’m sure many of you do as well. I find that waking up in the morning and commencing my day’s trading preparations helps me to construct my daily objectives before the start of my trading session. As preparation improves my probability of success, this is how I approach my day-to-day activities.
Even when my targeted markets are active and I await a trade entry opportunity there are countless opportunities but they may not necessarily be as suitable. After a while, my hands become restless and I find myself yearning for the opportunity to make a deal and “pull the trigger.” Any trader who has been at it for a while may empathise with such a scenario.
“Writer’s block” is the term used to describe the concern that arises when writers find that they cannot think out of the box rapidly. That’s why to represent the current state of affairs; I’m speaking figuratively “trader’s block,” which I repurposed from the context above.
Trader’s block is a condition that often manifests itself after a significant victory or loss.
Those impacted by this could have trouble swapping careers because they are afraid, they won’t be able to achieve the same level of success in their next endeavour. The anxiety of placing another trade after a loss is another factor that might play a role in this phenomenon.
Once plagued with the horrible condition of trader’s block, the trader will have the uneasy sensation of being incapable of executing any trades.
They’re always on the keen lookout for the ideal trading opportunity but it never materialises. As soon as traders recognise, they’re suffering from a case of trader’s block, they normally do their best to break through it.
I’ve had a 70% trade win rate for the past couple of years. The only downside that I could see was that the opportunities are quite infrequent and I’m only able to place 3-4 trades weekly at most.
Even then, the system requires round-the-clock monitoring. When I played by the rules, I was able to bring earnings per week in a manner that required the least amount of effort and mental energy. When I first came upon the strategy, the difficulty was that I would become exhausted from observing graphs all day long before I could pull the trigger.
It was just a matter of time before traders’ block set in as I began to doubt if the system would yield any trades ona daily basis. I started making less-than-honest deals and merely satisfying a portion of the conditions set by my system because I wasn’t too fond of the wait.
My consistent approach of chasing pitches beyond my strong likelihood zone led to mediocre outcomes. In a nutshell, the path we’ve been on in the trading world is quite similar to life; we want to improve ourselves and become more resilient individuals who can handle both good and terrible circumstances simultaneously.
Now, instead of sidestepping and making the scenario worse for yourself, I suggest that you pause for a moment. Focusing on the task at hand is more effortless when you’re in a comfortable, tranquil condition.
The next step is to focus on the most important aspects of trading. Go through your trading system from top to bottom and see how it works. It is essential to reinforce your memory of the underlying philosophy, entry and exit parameters and risk analysis principles. In light of your most recent experiences, feel free to make any required revisions.
Afterwards, when you’ve processed all pertinent data, you should probably take another look at the charts. Do not hesitate to undertake the trades that correspond with your strategy, no matter how unappealing they may seem. Rebooting yourself once or twice and just doing things in stride while adhering to your strategy, in my opinion, is the most productive way to conquer trader’s block.
Although it will be challenging at first, the chore should eventually become more painless over time. Once you’ve established a steady trading strategy, all that’s left is to get back into the groove of things.
