Successful traders balance their lives. They are not consumed by the market. They do other things, unrelated to trading. They play with their kids/grand kids, they enjoy hobbies and work on meaningful projects or volunteer. They are not obsessed with their positions. They also do not get overly excited when they win, nor do they get discouraged when suffering losses. They find balance physically, mentally and spiritually.
If you find yourself always thinking about the market, always wired to news channels and Twitter, it may be good to disconnect from time to time. Recharge your own batteries so you can perform better when you do trade.
I recently went on a week’s vacation and, for the first time ever, I left my laptop at home. Not once did I even check my work email nor did I care what SPY was doing. I was confident the market would still be there when I returned, and lo and behold, I was right. And something else…. the market did not miss me. But know that I felt wonderful upon my return, able to tackle the hundreds of emails stacked up and ready for the market the next day.
Enter the Trading Room… I placed multiple trades in the days to come, all profitable.
It’s all about keeping your life balance. Like two wings of a bird, both need to be in balance for the bird to fly. Clip one and the poor fellow will never get off the ground.