Alright, this blogs idea I got when our country went into lockdown due to coronavirus, and because my girlfriend saw me playing game more than trading! Her question was ‘Don’t you have to work or trade instead of playing games?’ and my reply was ‘ I am working!! (was waiting patiently for the right entry which would take time, so thought of playing to kill the boredom)’. Needless to say she got a blank face and went on doing her work! Now, this is not my first encounter about people asking me about playing online games. There are some concerns which came from family, colleagues and acquaintances saying ‘playing game is bad for me’. ‘It makses you lazy’. Its not good for your health and eyes’ and so on and so forth! Usually I used to get annoyed with these questions but after repeatedly hearing these, I thought why not write a blog about it and let people know what it means to me by playing game and how it is helping me in my productivity. Even when I used to work in corporate my managers used to have issues, but couldn’t say much about it probably because I give the deliveries on time. They never understood how was I able to finish my work when they see me play game! And now when I shifted my career into Trading, same cycle happens! So I would like to tell everyone how it is helping me now with trading or in my life, cos I relate most of my lifestyle with gaming.
Insane Reflexes – most of the gamers will agree on this point. You are dealing with another person in the world where you don’t see their body language to make a judgement on what his next move will be. Whatever your opponent is planning, you, as a gamer has to anticipate and make the necessary actions. Meaning, you have to make a plan A, B, C etc for your opponents move and take quick decisions accordingly.
Trading is somewhat similar. There are times when you can predict the move. However, if it doesn’t go according to your trading plan, then you need to think of how you can take advantage of the way the market moves. Take the example of worlds situation right now due to Covid19. I have never seen market move like this. Oil fell to 22$. Now let me ask you this – how many of you expected a move like that? How many of you took advantage of that fall from oil? You can only take sudden decisions only when you have good reflexes and what strategy to be used during the fall.
Strategizing the plan – When it comes to online gaming, avid gamers will always have a strategy to take down their opponents. There are times your strategies won’t work as well, due to number of other reasons which I will be covering soon. Before you go live with your strategy, you might want to go on training camp and see how well you do with your strategy.
Now, Traders! Could you relate? We at Hexaurum always say to strategize your plan on trading. How confident are you in your strategy? Do you know what result it produces? All this boils down to one point. Backtesting! I always tell, winning a trade without back testing your strategy is almost equal to winning by luck!! when it comes to trading as well, you always have a plan of action on various ways the markets move. This I personally believe is one of the strong reasons why gamers will be better at trading.
Improving their strategies – Most of the PVP (Player vs Player) games you will always encounter a tough or a better player with high rankings. The only way to beat them is with 2 things. One, you need to have a better resource to beat the opponent (meaning a better gun or cards) and the other, to be skilled enough to play with those resources.
When it comes to trading as well, you need to have the resources; a good system, a high speed internet, a good broker etc. and of course, you need to have the skill once you have all these resources (Education). Else it will lead to gambling or luck based trading.
Masters of Patience and Discipline – Gamers are passionate about gaming. Not all matches are insane battles. A lot of time we spent waiting patiently for the perfect moment and timing to make the click for a head shot. Unless you don’t have the patience, you deserve to die the second you spawn.
Traders on the other hand are passionate about trading. They live and breathe trading. Not all trading is about crazy markets and constant action. A lot of time is spent in the markets looking for the perfect opportunity to make the click and execute the winning trade. There are times where you have to wait for hours for the market to do a pullback for a perfect entry or to get the right Risk to Reward. What am trying to say is, your account might be at risk, if you don’t have the patience and discipline to wait for the opportunity to kick in.
Controlling your temper – One of the thing I learned when I played the game called Clash Royale by supercell (Not promoting the game btw) is to control my temper! There are opponents who will taunt you throughout the game just to make you lose your concentration, some of them laughs at you when you lose, there are days where you continue to loose no matter how good you perform and if you are playing a war with the other team and your team is having a constant look at your game, then that’s a whole new level of pressure. Can you relate all these to trading?
This can happen to trading. No matter how good you are as a trader, there will be a time when you have a losing streak or drawdown, no matter how good or how well you follow your system. It’s not your fault. Drawdowns are inevitable. Emotions will take control of you. Your judgements will be clouded. Problem will arise when you don’t know how to handle these well! If you know how to handle, you are bound to be a good trader. If not, revenge trading takes place, you might lose you’re temper and your whole day or week is gone for a toss!
Knows when to take a break – As an avid online gamer, I know when I am playing my best game and when I am sloppy. This has nothing to do with my skill level and also has nothing to do with the way the online gaming algorithm works. It just so happens that on some days, the “Universe” just wants to sit somewhere and have a good laugh at you while you relentlessly try to prove yourself online. In such days I have one remedy that works like magic. Would you like to know what that is?
I take a Break…
Oh yes, I put off my ipad or gaming console and get myself busy with other things of interest. Maybe meet a friend for a coffee, watch cartoon or series.
The best thing is, when I come back later to play again, there is almost an unbelievable improvement in my skills. My gaming goes to next level and if you were to ask me what happened, I would sincerely struggle to give any correct answers.
It’s the same thing with trading.
You have to know when to take a walk. When things aren’t going right, just stop everything. Don’t Push yourself.
If you are not a gamer, you may never discover this little trick.
In most cases, this is the reason why most traders never graduate into becoming profitable traders.
You can’t win them all – I am yet to see any gamer who would tell me that he wins every single game he plays online.
You might be a good player when your playing against a computer. But trust me, the moment you go online, there are numerous people out there who will make you feel whether you can call yourself a gamer or not.
It’s pretty much same with trading. Have you ever seen a trader who said he/she never lost a trade?
You, are in the world of Trading. You are a pawn when compared to big institutes who moves the market. The only difference I feel when compared to gaming is you can actually control your losses with good money management skills.
So you see, playing game is not bad if you see it through my eyes.