A few days ago, I noticed that there is a strong correlation between the way I start my day / my morning routines and my trading results. If I start the day the right way, it usually ends with profit, and if I don’t, it usually ends in red or at break-even. This pattern repeated over and over, so I’m very happy that I finally noticed it. I immediately decided that from now on, I would be doing things the right way.
So, here are the key differences:
Losing day morning
I get up too early or too late.
I don’t know what to do with myself and wander around. Alternatively, I’m in a rush.
I scroll social media or read some articles while doing things.
In the end, I don’t exercise even if I get up too early because I don’t have time for it.
I eat a quick breakfast.
I rush to my computer.
I feel impatient or tense.
I open a dozen articles to read and repeat coming back to CNBC, Reuters, and ForexLive for more. Or I watch a trading video on YouTube.
I’m distracted, I miss entries, and then I enter setups that I would have skipped otherwise to make up for that.
I don’t take breaks – I sit in front of my computer for four to five hours straight.
I get stressed and obsessed with earning.
Profitable day morning
I get up early enough to have time to do all my morning routines without being in a rush.
I have time to lay in bed for a while before getting up, so I can feel into my body and emotions and express gratitude.
I don’t touch any electronic device in the morning. I do everything slowly and consciously. Mindfulness is the key.
I do my Yoga.
I have a cup of tea on the balcony, stare at the view, and talk to my wife about some nice and relaxing topics.
I prepare a tasty and nutritious breakfast for myself, and I enjoy eating it slowly.
I’m relaxed, mindful, and calm.
I have a quick look at my trading email account where alerts come in, and I scroll the news headlines on my Trader’s Desktop.
I have my charts open on the screen all the time. I only sit back, look, and wait.
I take a 10-20-minute break whenever I feel I need it or when I see that no signal will be coming for a while.
When I see the right signal, I enter a trade calmly.
As you can see, the difference between the two mornings is tremendous. As is the difference between profit and loss. Implementing the right morning routines is just a matter of making a decision and changing habits – you don’t have to give up on things you like doing, you can just shift them in time. For example, if I see an interesting article while I screen the headlines in the morning, I open it in a new tab and read it after my trading hours.
I did not mention things like making phone calls or answering emails because I haven’t done that before or during trading for a few years now. I covered the reasoning behind that, as well as other things I don’t do while trading, in a separate article: “How to stay focused while trading”.
It is also worth mentioning that our kids are homeschooled, so no one has to run to drop them off in the morning. I recommend homeschooling to everyone – it makes all the difference to your day, to your life, and also to your kid’s development. And once everyone knows what, when, and how to do the things they should do, everything is smooth. At the moment, we are all able to work in the same room! A family open-space livingroom office/school 😀 Yep, no one disturbs or distracts me. Everyone focuses on their own work. And when we feel we need a break, we have lunch or a smoothie together, joking and exchanging opinions.
Bottomline – while proper morning routines will not replace a reliable trading system and will not guarantee an appropriate mindset during trading, they will guarantee a good start. In other words, it might not guarantee your success, but getting stressed and distracted from the early morning will guarantee your failure, especially if you are at the beginning of your trading journey. So, it is worth implementing changes ASAP. You will surely notice a positive impact – both on your trading and the quality of your life.
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I also wrote some other articles you might like:
- “Trading for a living – what’s needed to make trading a stable source of income”
- “How to stay focused while trading”
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