How to deal with trading boredom

Trading, whether it’s forex, stocks or options, is usually associated with money and risk – things that most people find very interesting.

But the truth is that it exists soooo a lot of behind-the-scenes work that a lot of newbies give up at the onset of boredom.

Beginners may be surprised to find that a lot of hours have to be put in when it comes to analyzing economic data, studying charts, looking for good setups and logging trades.

And then there are days when the markets are stuck in a range and there are no good catalysts for trading.

There might even be times when huge discounts can bring so much stress and take all the excitement out of trading.

In these cases, the idea that forex trading is “all work and no play” can be boring and unmotivating.

How can you overcome this?

“Idle hands are the devil’s playground,” some say. But did you know that boredom, or the lack of trading action, can actually be good for forex trading?

When your mind is bombarded with all kinds of visual, audio and emotional noise, it’s hard to hear what the markets are saying.

Distractions can keep you from focusing on recognizing chart patterns. Or they may adversely affect your ability to process market information and react in a timely manner to changing market conditions.

So, while the absence of stimuli may seem boring to you, it gives you an opportunity to reset and quiet your mind. And when your mind isn’t distracted, you can become more in tune with the markets.

But the problem is that most forex traders can’t stand dull moments. If you have ever been bored while trading, then you also know the feeling of frustration that comes with it.

You want to feel productive, so you’re hard at work looking for trading-related things to do. I personally know some traders who are like this.

When they get bored, they try to fill the gap by overtrading and forcing trades. Some even go so far as to increase their risk tolerance just to feel the sensation. Sometimes they win, but in many cases their account balances take unnecessary hits.

Boredom can actually be a good thing if handled correctly.

The absence of incentives allows you to put yourself in a serene and peaceful state where you can really focus on your trading goals. This should be your goal as good trading decisions usually come from a calm and peaceful mind.

Remember that it’s okay to take breaks. Gather your thoughts, realign your trading goals, and focus on more constructive endeavors.

Boredom is not necessarily a bad thing. The feeling of boredom is just your mind and body telling you that you have everything in place and it’s time to be patient and let things come to you.