What can you do to get back into trading after a long holiday?
April and May have been full of public holidays…
And if you took advantage of them with a relaxing holiday, then getting back into trading can be a daunting task.
In fact, D.G feels exactly the same. Here's what he asked me…
“I've just come back from a relaxing holiday in the Maldives, and now I'm ready to get back in the stock markets.
What can I do to get back into trading after a long holiday?” - D.G
Here's what I told him to do.
Three steps to get back on the trading track after a long holiday!
Step #1: Prepare yourself for trading again!
After a well-deserved holiday, it’s unwise to jump straight back into trading full on.
It might take you a week or so, to feel comfortable to trade again, so rather take some time to adapt to the markets.
But in the meantime, you should prepare by going to your trading watch list to see where trades are lining up.
This will also give you the time to see what you’ve missed and how the markets have been behaving while you were away.
After you’ve prepared yourself, and caught up with the markets, only then you can move to the second step.
Step #2: Go small or go home!
There’s nothing worse than coming back to trading with ‘post-vacation stress’, taking a trading position and end up taking an unprepared loss…
So what you should do when you get straight back into trading?
Risk even less than what you risked before you went on your holiday!
So, if you were willing to risk 2% of your portfolio, you should begin trading again by risking just 1% or even 0.5%.
This way, you’ll be able to handle your emotions better by risking less.
Step #3: Less is more when you start trading again!
Let me tell you; it’s exhilarating coming back from holiday, sitting by your computer and finding yourself bombarded by different charts and trading opportunities ripe for the picking.
Having so many trades lining up could end up with you feeling post-vacation stress even more!
Rather look for the highest probability trades that line up. And only take a handful of trades at a time.
And by handful, I mean one or two…
If you take too many trades, this might result in extra and unnecessary stress, which you definitely don’t need after a relaxing holiday.
So these are the only three steps you’ll ever need to get yourself back into trading, which will help take you to the top trading once again!
Always keep in mind,
“Wisdom yields Wealth”