Why Multitasking is Dangerous for Traders – 6 REASONS
We have come to believe that juggling multiple tasks, will some how reward us eventually.
But with trading, I can’t think of anything worse.
In fact, I think it’s counterproductive to multi-task when making financial decisions for your trading.
And no! Lying on the couch, or on the beach with your phone while talking to friends is ALSO a no go.
Here’s why I think multi-tasking is dangerous…
You miss crucial opportunities:
If you’re focused on watching TV, eating chips and watching TikToks at the same time, I guarantee – you will miss out on high probability trades.
You need to have full focus and pay attention to the markets, when you’re trading or it will affect the quality of your trading and setups.
Delays in trading decision making
Multitasking can slow down your decision-making process and prevent you from acting in a timely manner.
Think about it… It’s one more video to watch, it’s 10 more minutes until the show ends. Let me just finish my beer first.
The market waits for NO ONE!
So act accordingly.
Stress levels through the roof
You’re going to make impulsive, emotional decisions.
You have your heard earned money in an account ready to take on the local and global markets.
If you have sounds, food and other distractions in the background – it will affect your stress.
This will not only put you off trading but might also scare you out of it completely. These types of decisions can be costly in trading.
I mean, trading can be stressful enough on its own.
Add multitasking to the mix and your levels of stress and increase feelings of anxiety will sky rocket.
This can lead to burnout and negatively impact our overall performance.
Drop in prod
You might feel that you can get more done by multi-tasking but it actually will decrease your productivity and efficiency.
When we try to do too many things at once, it takes us longer to complete each task and we may not do them as well as if we had focused on them individually.
Trading needs to be laser focused!
If you multi-task you need to remember something. You are human and you are susceptible to making mistakes and errors.
You might miss a trade setup.
You might type in the wrong trading levels.
Or worse… Trading volume.
You might miss opportunities to lock in profits through adjustments.
Just take it one trade at a time and focus on the time in the markets…
Ok this one is a bit of a stretch, but I think it relevant.
If you multi-task while trading, what about the rest of your life.
You most likely will multi-task while eating dinner, talking to friends, driving or even spending time with your children.
This can most definitely have a negative effect on not only your trading but your life, relationships and will lead to even more stress…
If you’re still reading this then I want you to do something for me.
I want you right now to take a DEEP breath in….
Just slow down. Take it easy. Focus on one thing at a time and enjoy the process.
Be more present and you will find life will be a lot more easier in your everyday.
I am writing this because I want you to start your year on a calm, focused and powerful note.
You got this.
Trade well, live free and take it EASY!
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Enjoy and remember…
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