Tuesday, 31 July 2018
Quote for the day
"Develop success from failures. Discouragement and failure are two of the surest stepping stones to success." - Dale Carnegie
Monday, 30 July 2018
Quote for the day
“Success Does Not Consist In Never Making Mistakes, But In Never Making The Same One A Second Time.” – George Bernard Shaw
Sunday, 29 July 2018
Quote for the day
"A single conversation across the table with a wise man is better than ten years mere study of books." - Henry Wadsworth Longfellow
Saturday, 28 July 2018
Quote for the day
"Strength does not come from physical capacity. It comes from an indomitable will." - Mahatma Gandhi
Friday, 27 July 2018
Quote for the day
"Happiness is an attitude. We either make ourselves miserable, or happy and strong. The amount of work is the same." - Carlos Castaneda
Thursday, 26 July 2018
Quote for the day
“Though no one can go back and make a brand new start, anyone can start from now and make a brand new ending.” – Carl Bard
Wednesday, 25 July 2018
Quote for the day
"If you want to conquer fear, don't sit home and think about it. Go out and get busy." - Dale Carnegie
Tuesday, 24 July 2018
Quote for the day
"If you genuinely want something, don't wait for it -- teach yourself to be impatient." - Gurbaksh Chahal
Monday, 23 July 2018
Quote for the day
"I can accept failure, everyone fails at something. But I can't accept not trying." - Michael Jordan
Sunday, 22 July 2018
Quote for the day
"Failure is not the opposite of success; it's part of success." - Arianna Huffington
Saturday, 21 July 2018
Friday, 20 July 2018
Thursday, 19 July 2018
Quote for the day
"If you are someone who is in constant doubt and your life thus far has been a constant string of disappointments, it's time you stop fixating on doubt and spend your valuable time on building a list of things that make you feel confident and assertive." - Zak Frazer
Wednesday, 18 July 2018
Quote for the day
"Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence." - Helen Keller
Tuesday, 17 July 2018
Quote for the day
"Success usually comes to those who are too busy to be looking for it." - Henry David Thoreau
Monday, 16 July 2018
Saturday, 14 July 2018
Quote for the day
"The whole secret of a successful life is to find out what is one's destiny to do, and then do it." - Henry Ford
Friday, 13 July 2018
Thursday, 12 July 2018
Quote for the day
"The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails." - William Arthur Ward
Wednesday, 11 July 2018
Tuesday, 10 July 2018
Quote for the day
"A pessimist is a person who has had to listen to too many optimists." - Don Marquis
Monday, 9 July 2018
Quote for the day
"For things to change, YOU have to change. For things to get better, YOU have to get better. For things to improve, YOU have to improve. When YOU grow, EVERYTHING in your life grows with you." - Jim Rohn
Sunday, 8 July 2018
Quote for the day
"Instead of worrying about what people say of you, why not spend time trying to accomplish something they will admire." - Dale Carnegie
Saturday, 7 July 2018
Psychological Burnout and Trading: Five Signs
By Brett Steenbarger, Ph.D.
When I first began working with traders professionally, I noticed a curious phenomenon: Many of the traders who were in the most objective trouble in their careers (i.e., at risk of getting fired from their firms) actually worked less hard at their trading than when they were making money. They insisted that they wanted to succeed as traders, but their actions spoke otherwise. They watched markets without putting on trades; they left the office early; they stopped doing their research and keeping their journals.
What I realized was that these traders were burned out psychologically. They were physically and emotionally overloaded and simply could not sustain the efforts required to come back from their deficits. It wasn't a matter of motivation. Quite literally, they didn't have enough psychological fuel left in their tanks.
Research finds that burnout has very real--and dangerous--health consequences for people. These physiological effects affect brain function and contribute to further exhaustion, creating a vicious cycle. My experience has been that, once traders in trouble hit a burnout stage, it is very rare for them to come back. This suggests that early identification of burnout symptoms and preventive measures may be instrumental in prolonging the health and wealth of traders.
So what are some of the early warning signs of burnout among traders? These come immediately to mind:
1) Loss of Motivation - This is experienced as just not caring as much as they used to. It's also expressed as avoidance of work tasks.
2) Cynicism - The trader in burnout feels that nothing will work out right; the market is out to get him. There is a palpable sense of hopelessness in later stages.
3) Exhaustion - This is experienced both physically and emotionally. Traders know they should work on their situation, but just can't muster the energy.
4) Sleep Disruptions - The trader who is burning out may oversleep or display insomnia and chronic tiredness.
5) Substance Abuse - Traders in early burnout stage may try to self-medicate to feel better and to escape their situations. Food may also serve as a refuge.
I recommend a several step program for traders who are burning out:
1) Take a Break - The worst thing a trader can do is feel guilty and try to force themselves to work harder. Burnout is not laziness, and it will not go away with willpower. Getting away from work stress and attending to good sleeping and eating patterns can help provide the energy for a comeback.
2) Get Help - Sometimes what looks like burnout can be a different problem: depression or an endocrine imbalance. Getting a medical workup is important to rule out physical causes of fatigue. If the problem indeed turns out to be burnout, short-term counseling/therapy can be very helpful in getting a handle on situations that feel overwhelming.
3) Regain Control - A common denominator in much burnout is a perceived loss of control over one's situation. Setting reasonable work goals, managing time effectively and reasonably, and finding elements in the situation that can be controlled all can be very helpful. By keeping goals modest and building small success experiences, traders can regain optimism and energy.
Burnout is common within high stress, high demand, fast paced fields, such as ambulance/EMT work; nursing; military combat; and medical residencies. By recognizing that burnout is a potential occupational hazard, traders can take a preventive stance by keeping expectations realistic and getting plenty of time away from work, in activities they enjoy and can control.
If you are no longer enjoying your trading; if you respond to losses but get little enjoyment from gains; if you stop caring about your work; or if you are just too overloaded to get the work done, consider the possibility of burnout. Renewing yourself early in the process can save a career.
Source: www.traderfeed.blogspot.com
What I realized was that these traders were burned out psychologically. They were physically and emotionally overloaded and simply could not sustain the efforts required to come back from their deficits. It wasn't a matter of motivation. Quite literally, they didn't have enough psychological fuel left in their tanks.
Research finds that burnout has very real--and dangerous--health consequences for people. These physiological effects affect brain function and contribute to further exhaustion, creating a vicious cycle. My experience has been that, once traders in trouble hit a burnout stage, it is very rare for them to come back. This suggests that early identification of burnout symptoms and preventive measures may be instrumental in prolonging the health and wealth of traders.
So what are some of the early warning signs of burnout among traders? These come immediately to mind:
1) Loss of Motivation - This is experienced as just not caring as much as they used to. It's also expressed as avoidance of work tasks.
2) Cynicism - The trader in burnout feels that nothing will work out right; the market is out to get him. There is a palpable sense of hopelessness in later stages.
3) Exhaustion - This is experienced both physically and emotionally. Traders know they should work on their situation, but just can't muster the energy.
4) Sleep Disruptions - The trader who is burning out may oversleep or display insomnia and chronic tiredness.
5) Substance Abuse - Traders in early burnout stage may try to self-medicate to feel better and to escape their situations. Food may also serve as a refuge.
I recommend a several step program for traders who are burning out:
1) Take a Break - The worst thing a trader can do is feel guilty and try to force themselves to work harder. Burnout is not laziness, and it will not go away with willpower. Getting away from work stress and attending to good sleeping and eating patterns can help provide the energy for a comeback.
2) Get Help - Sometimes what looks like burnout can be a different problem: depression or an endocrine imbalance. Getting a medical workup is important to rule out physical causes of fatigue. If the problem indeed turns out to be burnout, short-term counseling/therapy can be very helpful in getting a handle on situations that feel overwhelming.
3) Regain Control - A common denominator in much burnout is a perceived loss of control over one's situation. Setting reasonable work goals, managing time effectively and reasonably, and finding elements in the situation that can be controlled all can be very helpful. By keeping goals modest and building small success experiences, traders can regain optimism and energy.
Burnout is common within high stress, high demand, fast paced fields, such as ambulance/EMT work; nursing; military combat; and medical residencies. By recognizing that burnout is a potential occupational hazard, traders can take a preventive stance by keeping expectations realistic and getting plenty of time away from work, in activities they enjoy and can control.
If you are no longer enjoying your trading; if you respond to losses but get little enjoyment from gains; if you stop caring about your work; or if you are just too overloaded to get the work done, consider the possibility of burnout. Renewing yourself early in the process can save a career.
Source: www.traderfeed.blogspot.com
Quote for the day
"Success means we go to sleep at night knowing that our talents and abilities were used in a way that served others." - Marianne Williamson
Friday, 6 July 2018
Quote for the day
"Great things are not done by impulse, but by a series of small things brought together." - Vincent Van Gogh
Thursday, 5 July 2018
Quote for the day
"Politeness and consideration for others is like investing pennies and getting dollars back." -Thomas Sowell
Wednesday, 4 July 2018
Tuesday, 3 July 2018
Quote for the day
"We are told that talent creates its own opportunities. But it sometimes seems that intense desire creates not only its own opportunities, but its own talents." - Eric Hoffer
Monday, 2 July 2018
Quote for the day
"Difficulties are meant to rouse, not discourage. The human spirit is to grow strong by conflict." - William Ellery Channing
Sunday, 1 July 2018
Quote for the day
"You've got to get up every morning with determination if you're going to go to bed with satisfaction." - George Horace Lorimer
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