Stocks & Commodities V. 23:10 (72-74): Websites For Traders: by David Penn

Stocks & Commodities V. 23:10 (72-74): Websites For Traders: by David Penn
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Stocks & Commodities V. 23:10 (72-74): Websites For Traders: by David Penn


In Jack Schwager’s interview with Linda Bradford Raschke in The New Market Wizards, Market Wizard Raschke says this in response to a question about the difficulty of adjusting to the “isolation of trading from home”:

For the first four years, being off the floor was great—no distractions, no outside opinions. Last year, however, the isolation started to really bother me. I got lonely. I tried talking to other traders on the phone during the day, but I found that it was distracting and lowered my productivity. I also tried establishing a trading office with another trader … I recognize that isolation has become a problem, and I keep on trying to find different solutions.

While you have to hunt a little to ferret out traders willing to admit it, trading is a lonely business and that isolation doesn’t always work in the trader’s favor. What the absence of distraction brings, the echo chamber of one’s own thoughts can often take away as the trader, to steal a line, begins debating with him- or herself.

Though the world of trading is anything but sense-deprived, the lifestyle of the individual retail trader is not unlike living in a sensory deprivation tank: what starts out as an exploration of one’s psychological and emotional limits can devolve into a “room full of mirrors” filled with the kind of doubt, second-guessing, and paranoia that is often our undoing as traders.

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