Quick Tips to Stay Cool, Calm and Collected While Stock Trading

Quick Tips to Stay Cool, Calm and Collected While Stock Trading

Love it or hate it… the stock market is continually making (and losing) money for people on a daily basis. It’s not just about jumping in and out of stocks, or investing in a 401K for 20 or 30 years… it’s about coming up with an investment plan and strategy that works for you.

With all of that being said, stock market traders can lead one of the most highly charged and stressful careers imaginable. Full of non-stop action and major ups and downs, it can be easy to feel overwhelmed and become agitated by factors that are out of your control when riding the stock market wave.

Sound familiar? Are you new to trading?

Take a moment to read through our latest reference guide on how to stay cool, calm and collected, even when Pompei is burning around you. The stock market is a crazy place, so be sure to prepare yourself before you enter.

Over-preparation

There is a psychological phenomenon where some believe that over studying a subject can lead to a blank when it comes to putting the theory into practice.

For example, aspiring traders run around from book to classroom to teacher to try and find the best trading strategies but overthinking and second guessing takes over when the time comes to actually put in a buy or sell order with real money. In this situation, a trader has learned the theory over and over but that doesn’t do anything to prevent the body and mind from freezing over.

So, remember that while you do need to put hours into learning about the stock market and different strategies, don’t forget to dedicate some time to using a trading simulator where you can put what you learn into practice. This strategy is referred to as paper trading and the best part is you don’t have to risk a cent of your own money so it’s a win-win. 

Emotional Intelligence

Knowing how to react in a simulator can be a bit different to a real-life market as there are different scenarios to take into account. Making sure to give yourself allowance for emotional control is a good way of being able to keep yourself in check.

The first step to this is making sure you know what makes up an emotion: stimulation, feeling, motivation, belief and temperament. Once you have understood the concepts of what they mean, you can better understand how you can make your emotional state work for you as opposed to against you. 

Timing Your Trades

Market timing is used to maximize profits and balance the associated risks with high gains. It’s essential that you educate yourself on the importance of market timing and what that can mean for your own trading strategies.

What times of day see the greatest volume of action?

When does volatility spike and is there a way you can leverage that knowledge to set buy and sell orders? Is there a small window where you won’t be able to be online and ready for action? These are all questions you need to consider when it comes to timing your trades. 

Be Realistic

You are not going to win every single trade so be real with yourself. A successful trader will be right about 60% of the time (and sometimes less) so rather than dwelling on your defeats, you should focus on your wins.

Keeping this in mind or repeating it as a mantra is a good way of stopping yourself from over-stressing and being your own worst critic.

How to Keep It Together When Your Trading is in Chaos

At the end of the day, no one know what the stock market is going to do tomorrow. Some people might think they do, but it’s really all a toss up.

The important thing to remember is that you need to have a strategy in place. Know your limits, what your goals are, and when to enter and exit a trade.

With more attention on the stock market, cryptocurrency and investing than ever before, now is a great time to get started — but make sure you prepare yourself… as it might just end up being a wild ride!

If you enjoyed this article, be sure to check out my other stock market related articles by using the search box on the right side of the page. And of course… this is all just useful information and resources for you to read through. In no way am I a financial advisor, or recommending any trading advice.

5 Essential Tips to Find a Perfect Co-Working Space While Traveling

5 Essential Tips to Find a Perfect Co-Working Space While Traveling

In the past, very few people could travel and work at the same time. At the moment, we have so many digital nomads that are changing the narratives about working and traveling. Remote working has become so popular, giving all kinds of people the freedom to explore the world without putting their careers on the line.

While some business travelers can manage to do a few works in a café, many prefer co-working spaces. It may not be difficult to find a co-working space in some cities, but finding the perfect one can be tough.

Here are five tips that can help you out.

Determine Your Needs

If this is the very first time you are going to use a co-working space while traveling, it is important that you create a list of everything you need to do. Even if you have done it many times in the past, you should assess your specific needs at any time, since work goals may differ from time to time. Be sure of what you need to achieve and everything you will need in a co-working space. This will help you make an informed decision when you consider your options.

Do Background Research

A simple Google search will reveal the top co-working spaces in the city you are traveling to. Consider those that are highly rated. For instance, if you are visiting Houston, Texas, or the surrounding areas, a great option may be Novel Coworking Houston. However, do not depend on Google reviews alone. Go deeper to learn about the space and determine if it has the capacity to meet your needs.  

When it comes time to research possible co-locations for work while on travel, it’s important to know about the many different options available. As seen through the Novel Coworking site, office suites, office space, dedicated desks and virtual offices are continually among the most efficient and requested options available.

Consider the Location

If you are staying in the city for days, you need to consider the location of the co-working space from your accommodation, along with means of transportation. You also need to make sure that the co-working office space is located in a safe neighborhood. Consider office style, available amenities, internet speed, and other important factors. A physical tour of the space is also necessary if you are going to work there for a week or more. Make sure the atmosphere is conducive and aligns with your work goals. 

Consider Working Hours

This is one of the most important things to consider in choosing a co-working space. You want to make sure that it will be open during your most productive hours. If you work best at night, you will want a space that stays open at night.

And of course, while performing any type of work, you’ll want to eliminate as many distractions as possible. Such productivity killers include being on your phone, gossiping with other workers and internet surfing while trying to get work done in your co-working space.

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Depending on what you are looking to get done, and when, some co-working spaces are open round-the-clock. Consider their working hours and make sure it is in line with your needs.

Make Sure It Fits Your Budget

You don’t have to create a hole in your pocket simply because you want a good co-working space. Consider your budget and the price of the co-working spaces in the city or town you are traveling to. There must be affordable options that will meet your needs.

In Summary…

Anytime you travel or find yourself in a new environment, co-working spaces can provide you with the ideal temporary workspace to continue working. However, you should determine your needs, research about the area, consider your location and working hours. With this, you can find the ideal co-working office that meets your needs and budget.