Thinking only about work can be harmful. Here are some fun activities that can also help you in trading
A common saying says that, ‘all work with no play makes Jack a dull boy.’ The meaning of this old saying is that people should spare some time and do some fun activities. This works in the financial market as well.
In fact, some of the biggest money managers are also known for other activities not related to trading. For example, David Einhorn, who runs a $5 billion hedge fund is known as a poker champion. Bill Ackman on the other hand is known for his love and skills in tennis.
This article will highlight some of the fun activities you can do as a trader.
Best Entertainment Activities for Traders
Reading is an interesting thing that you can do in your free time. This involves reading books fictional and non-fictional books.
As for us, We find a lot of joy reading trading and economic books. Some of the ones we can recommend to you are: Octopus by Guy Lawson, Black Edge by Sheelah Kolkhata, Welcome into my trading room by Alexander Elder, and Millionaire Traders by Kathy Lien.
Watching Movies and TV Series
We find a lot of joy watching movies and TV series when we are tired or when there is no much activity in the news.
Good TV shows and movies also help us to forget the market a bit especially when things are not going on fine. Some of the movies and shows We have been enjoying of late are The Good Fight, Suits, and Shark Tank.
Watching Financial Media
We are a big fan of financial media. We spend most of the time switching between Bloomberg Television and CNBC. The reason is that these news organizations have access to the most influential people in the financial world. These people include the top CEOs, financial analysts, traders, and policymakers.
A caveat: don't follow everything that is said literally, but use it as a starting point for your own analysis.
Sports are important because of their competitive nature. You should find a sport that you love and watch the games when you can. When We started trading, We were not much into sports.
In recent years, We have started following a number of sports that have had an important role in our trading life. The sports We mostly watch are golf, formula 1, and some soccer.
Gaming is becoming a very popular thing to do these days. As with watching sports, We was not always into gaming. Recently, We have started playing games and this too has helped us improve our trading skills. Some of the games We are into are PUBG, Fortnite, and Apex.
While We are not a big fan of exercising, We have found a lot of joy taking time off and running. Every week, We ensure that we do this for about three days.
While it was difficult in the first days, we have gained some experience in this and we have seen our level of concentration improve. Also, our health and body performance has been better.
The beauty about trading is that you can do it at any time and place. This has opened opportunities for us to travel domestically and around the world.
Since We are a full-time trader, We carry our trading laptop in our trips. Then, We trade for about three hours every day in the hotel room and then go out to explore.
Watch live trading
Another interesting thing you might try is to watch live trading on YouTube. There are many YouTube channels that show people trading. For example, TraderTv has some of the best traders in the industry. The channel posts live trading sessions every day.
And in addition to these channels, the trader offers some of the best educational content. There are other YouTube channels with live trading that you could use.
There are several benefits for watching these videos. First, it will give you access to the latest information in the market. Second, it is possible that you will learn new techniques by watching live trading. Third, you can replicate this trading into your own account.
Podcasts have become popular in the past few months. For example, Joe Rogan averages about 11 million listeners per episode. Fortunately, there are many podcasts of all industries.
There are some exciting shows about the market and economics. There are others about current events and others about social issues. Listening to podcasts about all topics will help you become a better trader.
Social media has become an excellent platform for people to interact with one another. It has also become an excellent place to learn new things and get the latest information. In 2021, many traders started using Reddit, which is now one of the most popular platforms among traders.
Wall Street Bets chatter helped to push some stocks like GameStop to a record high. Therefore, you can spend some of your free time in social media communities because it is possible to get some trading ideas from there.
Another thing that many traders do is to spend a few hours every day meditating. In fact, many hedge funds spend a substantial amount of money paying yoga instructions for their employees.
The benefit of doing this is that it will give you peace of mind and make you a better trader.
In this article, we have looked at some of the most popular things that you should consider doing in your free time. These activities will help you become a better trader in the long term.
External useful resources
- 5 Non-Trading Activities That Could Improve Your Trading Performance - Babypips