Look. I’m not going to beat around the bush here. It was a cool day for me today. Over 100 points by 10am on two trades. Both live of course, on the TRADINGFLOOR of our growing community here. Great to see a number of people follow the trade, understand what we were doing, learning and making profits for themselves. Education is vital.
Something else that is vital to effective trading? Water. It is VITAL to trading properly.
1. Dehydration affects your mood.
2. Dehydration reduces your cognitive and motor skills.
We all know not to drive under the influence of alcohol. But according to the findings of a 2015 study conducted at Loughborough University, we should also avoid driving dehydrated. Volunteers committed a significantly greater number of errors such as lane drifting and late braking in a two-hour driving simulation when they did it dehydrated.
If it does that to driving, it will have the same effect on your trading. In fact, when I charted my worst trades, there was a major correlation between those and certain times of the day. The times when I was most likely to be dehydrated.
An EnigmaSignal we are lucky to have a fitness-obsessed trader – Stan (Trader.Fit). He gave me this water bottle (below). It has a simple set of markings on the side, showing you how much you need to drink every hour. Amazing. Simple and for about $20, I think it has given me at least an extra 5 points a day on my performance. Bargain. Hydrate guys. It works.