Turn off your phone!
If it weren’t already clear, trading requires a high degree of concentration. Especially as a day trader, the market can move in literally a blink of the eye. As a coach, some of the simplest answers for a trader’s performance have been to turn off the phone, shut down the email, and put a do not disturb sign on the office door. Early in my own trading career, it took several loosing trades and a few words with my spouse to understand that I can’t be a part of a discussion about dinner when I’m looking at charts.
If that didn’t already convince you, an article by Joanne Cantor, PhD, gives us even more evidence that our multi-tasking society has no place in the trading world. Don’t Speak ‘Til You See the Whites of Their Eyes talks about the limited capacity of our brain to do a number of tasks at the same time. When we’re engaged in the market and risking money in the process, that capacity becomes even more taxed.