Stress damage to traders

Quote from wrbtrader:

You should read some of the "personal" or "trader psychology" commentary within the trade journals @ http://www.elitetrader.com/vb/forumdisplay.php?s=&forumid=29 involving those that have specifically stated that the reason why they started a trade journal was to help them stick to whatever trading plan they may have.

Although the journal starters don't use the "stress" word...it's obviously there big time. Further, in one particular journal by fickletrader, he list his current "ideal foundation daily routine" that includes exercise, healthy eating, daytime and evening routines. Although he doesn't use the "stress" word...he clearly is aware of it and has developed a routine to control the stress while trading.

My point, its obvious how stress impacts trading or any other decision making process during time sensitive tasks (there's been many studies of such although not specific to traders). Some traders are pro-active in controlling it while others are blind to the impact of stress.

Also, everybody is unique and have different experience levels with stress. Thus, for some they may panic (stress) and get out of a trade position prior to a profit target. Others may just freeze in the exact same stressful situation and do nothing...allowing a profitable trade to retrace and result as a loser.

As for depression. If someone recognizes they are depressed or told by those close to him/her that it's depression they see...stop trading and then go get some professional help (see your psychologist or similar profession). Simply, trading and depression is a BIG FAT warning sign to STOP TRADING.

It's also a time for a vacation or time away from the markets when depressed.

Mark
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I was referring to a trading depression , after a series of draw downs , and nothing going my way sort of thing.How much more stress do you have in those depressed situations.
 
By the way, there was a "stress job ranking"...those on Wall Street weren't even in the top 5 most stressful jobs.

North America

1. Commercial Airline Pilot
2. Public Relations Executive
3. Senior Corporate Executive
4. Photojournalist
5. Newscaster

Note: Stockbroker and Trader listed around #8 depending upon what list you find online.

Global

1. African Bee Removal Specialist
2. Emergency Medical Professionals
3. Professional Animal 'Facilitator'
4. Freelancer (writer, editor, photographer, graphic designer, artist, actor, bodyguard, motivational speaker or private investigator and so on)
5. Hazmat Diver

Note: Globally, stockbroker and trader not in the top 20...in reference to those working for someone and not for themselves.

Mark
 
Quote from oilfxpro:

I was referring to a trading depression , after a series of draw downs , and nothing going my way sort of thing.How much more stress do you have in those depressed situations.
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Stress usually causes changes in your blood pressure. Thus, if you consistently record your blood pressure during trading sessions...you can easily determine if the stress is increasing or decreasing during any type of trading situation.

There was a journal by someone here that did just that although he didn't post his results. He only gave general info...his blood pressure increased during consecutive losses or drawdowns and did the same during profitable periods but not as much in comparison to the losing durations.

Regardless, as stated...everybody handles stress different than the next person to them due to different existing problems in the mind/body and different abilities to recover and different tolerance levels.

Mark
 
Business losses are handled much better by women then men. Relationships are to women what business success is to men.
 
Quote from wrbtrader:

By the way, there was a "stress job ranking"...those on Wall Street weren't even in the top 5 most stressful jobs.

North America

1. Commercial Airline Pilot
2. Public Relations Executive
3. Senior Corporate Executive
4. Photojournalist
5. Newscaster

Note: Stockbroker and Trader listed around #8 depending upon what list you find online.

Global

1. African Bee Removal Specialist
2. Emergency Medical Professionals
3. Professional Animal 'Facilitator'
4. Freelancer (writer, editor, photographer, graphic designer, artist, actor, bodyguard, motivational speaker or private investigator and so on)
5. Hazmat Diver

Note: Globally, stockbroker and trader not in the top 20...in reference to those working for someone and not for themselves.

Mark
More...

Those trader comparisons aren't appropriate for traders who are a one man band , where those in the survey is probably scum of Wall street relying on inside information and fraudulent CDO / IPOs.The one man band probably has many more stressors, the Wall street traders probably have a network support to reduce the stress.
 
I don't fin trading stressful at all. Being on one's toes, paying attention, being challenged is part of being alive.

There is a false assumption on the boards that anyone could be a good or great trader if they only tried hard enough. Of course the vendors play up to that. There is nothing further from the truth.

Some people are simply not smart enough, some are chicken, others are procrastinators, or brave but reckless, lack drive or find the activity stressful.

In trading one is one's own master, can chose when and to what degree to engage the market and leave the activity or participate more intensely at any time. Isn't that great?

Perhaps being stressed is the result of being part of an activity where one is in danger, under qualified, forced to perform beyond one's ability or one is simply not cut out for. Trading is a voluntary activity and we are in control of all parameters.

BTW, when I was a floor trader my pals and i were so wired up we were stressed when we were n o t trading:).

Cheers,

222bc
 
Quote from oilfxpro:

Those trader comparisons aren't appropriate for traders who are a one man band , where those in the survey is probably scum of Wall street relying on inside information and fraudulent CDO / IPOs.The one man band probably has many more stressors, the Wall street traders probably have a network support to reduce the stress.
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Independent traders as in retail traders will never be on the top 10 list of most stressful jobs mainly because it's a short lived profession for most. Simply, most retail traders will fail in their trading prior to feeling the unhealthy symptoms of stress while stressed in comparison to those on the list I posted above when they're stressed.

Yet, those retail traders with pre-existing health problems or prior unhealthy habits before getting involved in retail trading will mostly speed up the deterioration of their mind/body via trading.

With that said, I personally know a few folks with careers on that list...they are far more stressed than any trader (institution or retail) I've ever met. Don't be mistaken...trading is still a very stressful job and on my top 50 list but would not make my top 10 list.

Mark
 
Note: Stockbroker and Trader listed around #8 depending upon what list you find online.

Some of these guys are only order receiving salespersons , stockbroker gets a telephone order and fills with best market maker , they are not really traders.
 
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