Welcome to the last article in a series of extraordinary tips for traders. Let's not waste time on excessive discussions and get down to the topic right away.
Avoid Multitasking
Many people believe that the ability to do several things at the same time makes you almost superhuman. However, scientists have long proved that the brain is not capable of efficiently working on several complex tasks simultaneously. You are not processing them in parallel but rather switching from one to another. As a result, your brain doesn’t have time to devote enough energy to each task. The quality of your work drops, even if it doesn’t seem to you this way.
And it concerns any distractions that might confuse your main stream of thought. If you are writing an article, as I am now, and get distracted by messages on your phone, then the quality of your content may turn out to be low.
The same is true for trading. If you want to show maximum results, forget about any other tasks at least for a while:
- Move your phone away and mute it
- Turn off the music, Youtube video, or podcast you are used to listening to
- Don't be distracted by conversations, etc.
There is one trick that high productivity people use. It allows you to focus on one thing, fight procrastination, and gives your brain some time to get the rest it needs. The trick is to work on a timer:
- Focus on one task for 45 minutes. There should be no exceptions. Don't look into messengers, hide your phone. Work on one task before the alarm goes off.
- Rest for 15 minutes. You can drink water, do some exercise, or watch the YouTube video you have wanted to see for a long time.
There is no exact framework for this activity. You can work 50 minutes and rest 10 minutes. Choose any time convenient for you but remember that the brain is only able to work at its maximum for one hour only. After that it needs rest.
By the way, it is better to forget about multitasking in Forex as well. If you want to master a strategy, trading instrument, or indicator, then start with one thing. Add new techniques and programs one at a time as you master the previous one.
Don't Forget to Read
It makes no sense to talk for a long time about the benefits of reading. But for clarity, here are a couple of its advantages:
- Growth in learning ability
- Strengthening of memory
- Reduced stress levels
- Improving the quality of sleep, etc.
You can obviously read any literature. But since we have a blog about Forex, then I advise you to focus on trading books. We already have several articles on this topic on our blog. For example, you can start with the book “The Disciplined Trader” by Mark Douglas since we mentioned the importance of discipline in the current series of articles.
In case you feel like you don't have time to read, you can listen to audiobooks. Moreover, you can gradually increase the playback speed. Your brain will adapt pretty quickly. In this case, you will spend less time on the same amount of information. And you can listen to an audiobook anywhere. Even on the way to the store.
Well, our unusual series of articles has come to an end. Its main advantage is that by applying these tips, you improve not only your trading results but also your standard of living in general. Use these tricks wisely!