It Interferes With Proper Judgement
Trading typically gives you an exhilaration that makes you want more and more. There is a buildup of emotions that beseech you to do it again. When you give in to these responses, then your analysis will be weak, and no informed planning decisions will be made.
Moderation and regulation is very potent here. You should realise that the surest way to attain your expected goal is by ignoring that emotional impulse urging you to trade immediately. Many people understand that feeling, but unfortunately, only a few can ignore it.
“Trading is a profession…Cannot be an Addiction”
Many traders will not see trading as an addiction since it is a profession. But if you observe keenly in many hedge funds, traders are the first people to arrive, and they are also the first ones to leave the premises. Traders make more cash than the people beneath them even though the time they spend on their computers is less than that consumed by trading assistants or operations.
It has been observed that traders who are lone rangers tend to have some addiction as there is no one around to regulate their behaviour.
How to Do Away With the Addiction
Always try to balance your trading endeavours and social life. When it is time for family ensure you give them all the attention and switch off the computer completely. Having a good time with friends or family will show you that there are more beautiful things to life than just machines, charts, and grids. Balancing this will make sure you are not addicted to trading in any way.
Work Smart Not Hard
Day traders that have a lot of freedom are known to waste a lot of time. Ensure that once you acquire what you require, move on ahead to the next task. Focus on what is more vital, read the movements of price from the data given and act accordingly.
Don’t waste your time looking for irrelevant things, shoot, and aim for the profits after acquiring the relevant information.
Take breaks from trading for a few minutes and come back refreshed. Taking breaks ruptures the monotony, and upon coming back, your head will be clear and relaxed to make wise, profitable decisions.