One way or another, every person develops their mastery on their craft and become professionals on what they do through doing things they love doing regularly. To simply put it in easier words, there are hobbies that may be trivial and purely for leisure but on the contrary, helps you hone some essential trading fundamentals that you weren’t aware you’ve been practicing all along. Let’s identify them here:
READING
It’s not news for this hobby to be on top of the list. Why? Well for starters, researching comes naturally to bookworms and heavy readers. They can venture to an unknown topic of interest (in this case, trading) and find books and references to help them get familiarize, get the hang of it or master the trading techniques. With a ton of instructional material available, certainly this is a habit that starters should take advantage of. As a famous quote says, “Knowledge is Power”.
WRITING
Maybe you love doing essays, or just jotting down things you have in mind, whatever it may be, writing can potentially benefit your future trades when you apply it to your Trading Journals. Keeping a detailed and well written Trading journal provides valuable insight into a trader’s trading performance. Analyzing these results can help you identify and pinpoint trades that are profitable and works well, spot trading mistakes and fine tune your trading strategy.
PUZZLE
One of the most cognitive yet earliest introduced game to kids is playing puzzle and there’s a reason why. When you try to solve a puzzle, there’s an important skill that you need to learn in order to complete the bigger picture and that’s Pattern Recognition. In trading, awareness in the movement of the trading market, it’s highs and lows as well devising a technical analysis requires you to spot trends and patterns which this hobby can teach you the basics.
PLAYING POKER
If you ever tried poker, you may have experienced that this game offers a lot of fundamentals that are beneficial to a trader’s mindset. Most of the time, you’re picturing out your strategy from the moment you saw your cards up to when to bet and when to bluff while keeping a calm mindset or they say, “poker face” to protect your chips. Having a gist of these basic skills goes a long way to help you on your day trades.
PLAYING GAMES (Board or Video)
Gaming both table top and through a device is popular nowadays mainly due to its entertainment benefits. However, just as the other hobbies above, it can also teach you intangible skills such as quick decision making. When you game (especially the fast phase / action-based ones) it is imperative for the player to pick practical choices on the fly or else your avatar may fail. This skill, when applied in real life, is very critical in acquiring those profit trades that every trader is aiming for.
Have you noticed the common trait on all of these hobbies? Yes, you’ve guessed it right! PRACTICE through PASSION. When you do things you love, the tendency is to do it often and religiously without being forced to resulting to the mastery of the skillset innately integrated on that particular hobby. When you ask me, now that’s EFFICIENCY!
It’s time to put the practice into real trading action! Log in to your CXM Direct Account today!
