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Mind Over Money: Sachin Gupta shares 12-point checklist for traders to maintain mental health

Five-day work week, permanent off over the weekend, no presentation or yearly targets – some might call this a dream life, but for a trader, it is not a dream job as it comes with its own set of challenges, Sachin Gupta, CEO & Whole Time Director, Share India explains.

The equity market has changed a lot in the last 20 years and so has trading. From ‘badla’ system to electronic trading on the NSE or the BSE – markets have seen an overhaul since the 1990s thanks to the evolution of technology.

The price trend could well change in a fraction of a second and the strategy you thought was foolproof could soon run into losses.

Traders who are under constant pressure due to volatility should practice yoga at least 5 times a week and do Pranayama to maintain mental health for better decision making and managing stress, recommends Gupta who has over 20 years of trading experience.

A trader’s age is not more than 20-25 years compared to investors which could even go beyond 60 years, highlights Gupta thanks to excessive volatility and stress traders go through while trading.

Gupta highlights a few factors which traders should address when they start their trading journey –

  1. Do not compare yourself with fellow traders
  2. Family and your colleagues are your biggest support
  3. Stopping yourself from overtrading is meditation
  4. Take at least 15 days of holiday in a year to break the monotony
  5. Do breathing exercises
  6. Play a sport with teammates
  7. Practice yoga 5-days a week
  8. Traders should focus on non-speculative positions
  9. Implement strategies that are market neutral to avoid stress
  10. Adjust trading strategies with volatility
  11. Keep your targets fixed
  12. If your profit target is achieved shut down the machine and go

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)

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