The life of a full-time trader can be difficult. Most people who have their own trading office with Day Trade the World spend long hours in front of their computers doing analysis (like the technical one) and reading news in search for opportunities. But to avoid burnout, they also need to have a little fun.
The question arises: what can traders do in their free time? Here We give you six fun suggestion from which you can also derive some application benefit.
We've talked about the importance of relaxation even when you have to plan the next trading week.
Researchers recommend that people take time off at least once per year. This is the main reason why in many countries employers are mandated to give their employees time off. Therefore, you should take time to travel with your family or friends.
Travelling outside your country and to countries of the currencies, stocks, or commodities you trade can also be beneficial to you. For example, if you are a cocoa trader, you can trade to Ivory Coast or Ghana where you will be able to talk to the biggest cocoa bean farmers.
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Hundreds of books are released every month. As a trader, taking time to read books on trading and finance can help you sharpen your skills. How many to read? Some suggest reading an average of one book a week...but we believe there can't be a standard number.
It is also recommended that you take time to read books that are not related to the markets. For example, reading books on relationships can help you improve your relationships which will make you have a better time trading.
Reading books, particularly on finance, will open your eyes to different things. For example, if you are a stocks trader, reading a book on forex can open your eyes on the industry. Also, you can read books on other fields like religion, history, and science.
Fortunately, buying books has been made easier (and less bulky) by platforms like Barnes & Noble and Amazon. You can read reviews and discover thousands of books within minutes. Some of the top books on finance that we recommend are: Octopus by Guy Lawson, The Spider Network by David Enrich, and When Genius Failed by Roger Lowenstein.
If you are a fan of digital or physical games, you should engage in them at your free time. Physical games like soccer or athletics can help you improve your body image. They can also help you improve your communication and concentration skills.
Computer games like Fortnite will help you reduce the tensions and make your life happier. However, you should be careful not to overdo these activities.
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Fortunately, there are thousands of mobile and video games that you can trade to pass time. Some of the most popular video games you can trade as a trader are FiFA, Fortnite, and Doom.
In addition, the video game industry is growing rapidly; more and more companies are listing on the market, while others are becoming sponsors and business partners. A possible gold mine for day traders.
Watch Movies and Series
The content industry is seeing increased growth as companies ramp up their spending. Every year, Netflix spends more than $8 billion on content creation. Companies like Apple and Google are also increasing their spending on content.
As a trader, you should spend a lot of time watching finance related content like Billions and Money Never Sleeps. These movies will help you learn more about the financial world and the perils that hedge fund managers go through. In addition, you should take time to watch non-finance related content.
If you had a bad trading day, a good movie and series can help you relax and forget about it. Indeed, We know many full-time traders who purpose to watch at least two movies every week.
You might also want to think of some good insights or strategies to apply to another of the fast-growing industries: streaming services.
There are many conferences on finance that are held in many cities. These events are very important to you as a trader. This is because they give you a chance to interact with other people in your industry. They also give you a chance to learn new things and build your network.
As you attend these events, your goal should be to expand your network, learn new things, build your confidence. You will be surprised about how these events can help you grow.
Time with Family
As you begin your life as a trader, you should always hold your family relations close to your heart. You can do this by savingtime to have dinner and breakfast with them. You can also create time to take your kids to school.
By doing this, you will be growing financially while creating a positive image to your family.
Podcasting has become one of the fastest growing industries in the world. The number if podcasts released every week has jumped and most media houses like the Wall Street Journal, New York Times, and Financial Times have all created their shows.
The trend towards podcasts grew rapidly during the coronavirus pandemic as more people stayed at home. As a day trader, there are many podcasts that you can listen to during your free time. Some of the top podcasts you could listen are Freakonomics, The Indicator from Planet Money, Motley Fool Money, and Invest like the best, among others.
Social media is another activity you could do during your free time. Some of the most popular social media platforms you could use today are Facebook, Twitter, Reddit, StockTwits, and TikTok.
While some of these social media platforms will entertain you well, others will also give you trading and investing insights. For example, Reddit’s Wall Street Bets platform has become an influential place to get trading information and advice. In the past, we have seen many stocks rise simply because they were mentioned in these platforms.
A special mention goes to Youtube, which since the beginning of 2020 has seen an exponential increase in the number of live broadcasts on the platform. Even those related to trading, such as TraderTv.Live!
Trading can be exhausting, especially when you are doing it full-time. As such, it is often important for you to engage in non-trading related activities like watching movies, listening to podcasts, and reading books. These activities will help you relax and avoid burnout.
External Resources for Trader’s Free Time
- 7 Ways Successful People Spend Their Free Time - Inc.com