How to Deal with Forex Boredom
Successful trading is »boring«. When you start with trading the markets (and you are new to it), there is always something new happening on your trading journey to become a consistently profitable forex trader. There are days you buy new trading books, there are days you try new trading courses, there are days you try different trading strategies and psychology tricks, days when you review past 100 trades etc. In order to learn to trade forex (or any other financial market) you have to invest time and energy to become a successful trader.
But as the time pass and you master your daily trading process (after you ditched everything that is not working, and you focus only on what is working for you), trading routine and process becomes »boring«. Learning to trade is an investment in yourself. If you want to learn to trade forex, stock, futures find yourself a forex mentor if you want to fastrack your trading progress and save time.
I am not saying »boring« in terms of »I do not enjoy my trading anymore«, but »boring« in terms of you following the same routine and process on the daily basis. You understand your focus and commitment to your process is the only way you can stay consistent and successful forex trader on the long-term. You enjoy your process, no matter how »boring« it is. You understand your »process« actually protects you from making mistakes such as over-trading, breaking your forex strategy trading rules, sitting in front of the charts all day, over stressing,…Learn to trade forex by focusing on yourself and our trading.
Once we mastered our trading process, trading process is the only way we need to be focused on. Therefor we must make sure we protect our trading mindset and ourselves from making mistakes that can hurts our trading confidence and breaks our consistency with our trading.
If you are asking yourself “How to Deal with Forex Boredom”, here is my best advice:
Take a break.
There are days (and sometimes weeks) when you should be completely out of the markets. When the markets are moving in tight ranges without any volatility (e.g. no new highs or lows), you should be completely relaxed. There should be no reasons you should worry about “not-trading”.
You can close your charts for a few days and just do something else. Good forex traders understand good trading opportunities will always come to them. They do not chase the market moves and setups. All they do is they follow their proven daily trading process, they prepare their charts and wait patiently. When there is nothing – they just do something else.
You can review your forex trading journal and review past trades.
You can ask yourself those 10 questions.
You can pick up the books and do some reading.
You can book a vacation and jump on the air plane.
You can go in the forest and do some running or hiking.
Do whatever you want to do and you enjoy at.
Maybe you like working out as myself. Go in the training centre and do some weights or boxing sessions. That’s what I like doing during the week for many years. It helps me to stay healthy, calm, focused and disciplined. Do not forget – if you can’t be disciplined and organised in life outside of your trading, you will need to work on this.
Learn new hobbies, habits and start practising discipline on the daily basis. You will be surprised how it will help you with becoming more disciplined person, and better forex trader overall.
Key point here is – there is no need to spend all day in front of your charts and trading platform. Boredom in forex is good. As a swing trader, who focus on higher time-frames and high-probability trading setups, you do not need to spend more than 20-30 minutes per day for your trading process. If you have a passion for your trading, learn to trade forex and try to become the best trader possible.
I will not tell you things such as “find new trading strategies” or “change your trading rules” to deal with boredom in your forex trading. Taking a break is my best advice for you. I follow this advice for many years and it helps me best.
Boredom can hurt your forex trading performance, therefor you must find ways to deal with it and keep yourself engaged. We are not living to trade all day. We are here because we have a passion for forex trading and we must make sure we protect our trading mindset. That will help us to keep enjoying our trading and executing our daily trading process with the discipline, patience, focus and calm mind. Invest some time in your trading plan, trading journal, and learn to trade forex with the right trading skills and habits.