In our fast-paced world, it seems contrarian to limit ourselves to one activity at a time. The zeitgeist of our society should be named “Multi-Task.” All too often students in classrooms are surfing the internet, texting and listening to the lecture all at once. The problem we see with this kind of multi-dimensional task approach can be reflected by adjusting the sentence to reflect what is truly going on, “…trying to surf the internet, text and listen to the lecture all at once.” The issue of poor overall performance resulting from multi-tasking is not an undocumented phenomenon or an overused proverb-turned-colloquialism; numerous studies have shown the pitfalls that trap those who attempt to multi-task:
The world of trading is no different. Employees in all occupations get distracted by phone calls, internet surfing, video watching, but for traders who sit in front of multiple screens and stare at charts for countless hours the problem can be magnified by 1000%. As any seasoned trader knows, trading is a serious occupation where momentary lapses in attention can lead to missed opportunities, or even worse. Imagine being the trader that missed out on the flash crash sell off because you were eating a candy bar, or watching the “numanuma” video on YouTube. Moreover, opportunities in the Forex market are given to the trader; the trader does not make them. Therefore the trader must be ever vigilant when placing trades and not be distracted by other concurrent activities. Multi-tasking gives us the perception of spending less time to complete more projects, letting us find our place in the sun, however, we all know what happens to our wings when we fly too close…
The FxST Team
Filed under: Trader Tips
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