Navigating the markets can be somewhat tricky, to say the least. Traders often speak of long working hours and high-stress levels as they tackle continuous volatility and practice those all-important trading strategies. Knowing when to enter and exit a trade takes great concentration, but as well as putting your all into decision making and market analytics, it’s important to step away from the screen and pursue a hobby.
Actively unwinding can actually defog the mind and allow you to see the trading world from a different angle; one that’s not tainted by overtiredness or frustration. A hobby that’s a far cry from analytics and stop-losses can also have many health benefits, so let’s delve a little deeper.
The Importance of Having a Hobby
1. Hobbies Act as De-Stressors
Taking time off from a hectic schedule to pursue something creative and fun can benefit everyone, including traders. For starters, learning something new will help you develop and grow as a person and serve as a distraction from everyday stresses.
Traders work in an intensely competitive and active space, which requires deep concentration and quick decision making. Inculcating a hobby can help to counteract the effects of chronic stress. Also, it is an excellent way to meet new people and make new friends, which is difficult with a busy schedule. Traders could also engage their own colleagues in their hobbies and create a social circle at work.
2. They Boost Brain Power
Analyzing complicated charts and economic indicators and keeping track of every global political and economic development, is a demanding task. Studies have shown that people over 60 can suffer cognitive decline due to chronically high-stress levels. An activity that is mentally less demanding and fun at the same time could boost brain health.
3. Help in Recovery from Addictions
Traders are human beings and, as a result, sometimes suffer from alcohol and drug addictions. These substances are often used to mask the pressures of everyday life including surviving the financial markets. As a string of losses can affect your well-being, it’s imperative to stay active by taking up a hobby that will hopefully keep you away from vices.
Addictions can also be the result of boredom. Keeping busy in your private life will ensure you’ve always got something to do other than work.
Hobbies are essential outlets that can help people to take their minds off unhealthy habits including smoking. They challenge the brain and potentially help reduce many symptoms of mental illnesses too such as insomnia and anxiety.
A Fruitful Activity That Can Generate Money or More
Certain hobbies can also become alternate sources of income, apart from the enjoyment they provide. Many traders try to master the art of computer programming, which also helps them in their job.
Chris Arnade, a successful Wall Street banker, made a name for himself by photographing marginalized New Yorkers. In another famous example, Brady Hill, the CEO of Greensource, one of the largest T-shirt printing companies, made millions out of his hobby of collecting and selling rare baseball cards.
Hobbies are essential for leading a well-rounded and holistic life. After all, what is life without a bit of fun on the side?