Do they follow a regime of exercises such as yoga, meditation and how important are these for a successful trader? You don’t have to be a successful trader to answer this, it’ll be good to know different point of views !
It depends on the person, music is enough for some one, but some involve in sports, the options depends on the person.
Meditation is very good, so do yoga, but imho meditation is the best
You need to be mentally and physically fit irrespective of your professional
I don’t think there is any prescribed exercise or diet regime for ‘traders’ to get successful…
If you don’t believe me, then ask yourself, what exercise would Mr.Junjunwala be doing on a daily basis?
Weird but interesting question. I assume the best trader will not require any special exercise or diet as to perform or to get relaxed. If your trades makes you uncomfortable or hectic then there is something wrong. Expert traders are always unclench from there trades, they are as relaxed in getting out of trade as in, getting in, irrespective of profit or loss. This is how I personally feel. May be someone else having different views.
A trader focuses on ONLY EXECUTING HIS/HER PLANS (which were profitable earlier and includes everything that were necessary like back-testing, forward-testing, total risk capital, number of scrips, trading frequency (trades per week, per day, or per hour), risk per trade, associated man hours, other costs and charges, taxes, etc.) for a pre-defined period of time (say for 6 months) with LEAST IMPORTANCE TO THE OUTCOME OF THE PLAN (profits and losses).
He repeats the above plan for the next pre-defined period of time and it goes on.
If a plan yields profits in that particular period of time then he/she is successful in that period of time.
This is how successful traders are created. They do everything what a common man does to keep his/her mind and body fit.
The important thing is that he/she is literally ready to lose the total risk capital and stay worry-free which is very important for a fit mind and body. Needless to say that the total risk capital will be diversified and the probability of losses in all the scrips in a particular point of time will be reduced to 1 in many millions.
Above things are my personal views and experiences. Hope this helps. Good Luck!
Trading is pretty stressful in itself, I think the important thing is to “Rest”.
Rest is spending time away from watching, reading, thinking and talking about markets.
Discipline is important. One can be more disciplined with meditation/ music. Whatever helps one to relax his/ her mind.
i’ve 3 dogs and i play with them… i personally think this is what keeps me happy and thus results in lower stress levels and thus maintain a healthy mindset.
Practice Mindfullness, Period.
Risk is the only thing that we can control in a trade, so if you prepare your mind for it, your mind will not worry about the loss and this really calms one’s mind.
Living the life out of the Screen…
I personally do yoga, but more important is to socialize to keep oneself sane, given the fact that trading has less or no communication with other people. Socialize by catching up with friends/relatives as often as possible.
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Professional traders do trading not gambling. This keeps them mentally fit.
The difference is in prediction VS probability,
Virtually market is unpredictable. That means prediction based trading is gambling.
On the other hand professional traders do trading purely as a probability game.
Probability trading is strategised based on risk:reward ratio and success rate. Risk means stop loss and reward means target. So the strategy will have precise specifications like targets, stop loss etc.
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By booking profits.