Janice Dorn, MD, PhD
Neuropsychological Trading Coach
Janice Dorn, M.D., Ph.D., has been a full-time futures trader since 1994. Doctor Janice holds an M.D. in psychiatry and is board-certified by the American Board of Psychiatry and Neurology in general psychiatry and addiction psychiatry. She holds a Ph.D. in brain anatomy. A graduate of Coach University, she is a pioneer market psychiatrist and financial neurobehaviorist. Doctor Janice has written over 500 articles on the financial markets and coached over 600 traders worldwide. She is the Global Risk Strategist for Ingenieux Wealth Management Group, Sydney, Australia.
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To insure good health: eat lightly, breathe deeply, live moderately, cultivate cheerfulness, and maintain an interest in life… William Londen
In the previous Trading Wisdoms on stress (Stress: Part 1 of Many and Stress: Part 2 of Many), we talked about the subject of stress and its biological underpinnings. This week, I am going to provide you with some practical ways to deal with the stress that each of you face on a daily basis. In future Trading Wisdoms, I will expand this list as well as add details to the items presented today.
It is important to understand that stress serves a useful function for our bodies. It is through stress that we strengthen our immune system and ward off the challenges that come to us through our external environment. Mild stress actually increases resistance to both physical and mental trauma, and it does this through a kind of "vaccination" of our physical functions.
Studies of human performance under stress show that too little stress or too much stress impede performance. The body and brain need challenges in order to grow and strengthen themselves. Each person has a different ability to tolerate and cope with stress, and that is the challenge when finding a way to deal with it on an individual basis. Put another way, each of us needs to find that place of balance between our bodies and the external environment that allows just enough stress to stimulate and challlenge us without overwhelming us.
The search for balance and harmony is highly individualized and, for most, is a lifelong pursuit. Unfortunately, the majority of people are not good at managing stress. In the past months, we have seen how the markets reflect the imbalances of millions of people trading. The markets have the character of being either hypermanic, hyperdepressive or in a state of agonizing boredom. These varying states of stress from the markets reflect the feelings of traders as they struggle to understand and to find some kind of balance within themselves. Most traders are well served to find grounding and not allow themselves to be part of the extremes of market movement. Such extremes in any area of life lead to stress, exhaustion and illness.
The key to a life well lived is what is called "eustress."
Using the analogy of Goldilocks and the Three Bears, it is desirable to lead our lives in a lukewarm state: not too hot, not too cold, but just right. Finding the state of eustress is different for everyone, but here are some ways to begin. The instruction is to look at the options presented here and take what works for you. The goal is harmony and balance within you that carries through every aspect of your life, including trading.
Here are some ways to begin the journey to eustress:
- Talk about what is troubling you. In this instance, it is important to find someone that you trust. This could be a family friend, spouse, partner, professional counselor or someone from your clergy. It is important that this person allow you to be in a space of unconditional positive regard and to really listen to what you have to say, without the need to interrupt or "fix" you. Seeking help is not a sign of weakness, rather it is an admission that you are an intelligent and introspective human being who is working to better yourself through understanding of what is causing you distress.
- Avoid self-medication. Many traders find themselves in a state of continual distress that they believe can be relieved only through the use of chemicals. What happens in these instances is that the chemicals make the situation worse and may lead to larger issues such as addiction. The addicted brain is unable to conceptualize balance or to make rational decisions.
- Get adequate sleep. Sleep-deprivation is at epidemic proportions in our world today. Traders see that the markets are open around the clock, and find themselves sitting for long hours attempting to trade when they should be sleeping and restoring their bodies and brains for the challenges of the regular trading day.
- Exercise to a sweat–regularly and religiously. Exercise is among the best stress relievers known to man. The natural chemicals released during exercise, coupled with the wonderful feeling of moving your muscles, are unmatched for reducing stress and calming body and mind.
- Practice yoga or deep stretching. This releases the tension stored in your muscles and joints and puts you into a state where your mind is calm and centered.
- Eat clean, healthy food. It is true that you are what you eat. Focus on healthy eating–empasizing fresh fruit, vegetables, lean meat, fish and avoidance of junk food, fast food or overly processed food.
- Process all anger immediately. There is nothing more destructive to eustress than unprocessed anger. Do whatever it takes to rid yourself of anger and resentment, because these feelings will make you ill more than any others. Beneath all anger is fear and worry. Fear and worry deplete your physical and mental reserves and make it almost impossible for you to deal rationally with the challenges you confront every day.
- Strive to stay in the moment. This is a great thing for traders to learn. Staying in the moment means trading what you see–not what you think will happen. By bringing yourself continually back into the "now," you will find that life and trading become more seamless and meaningful.
This is just a sample of stress-reduction techniques, and I hope that you are able to incorporate some of them into your lives. Even trying one or two of them will serve to push you forward as a more calm and centered trader and human being.
The concept of total wellness recognizes that our every thought, word and behavior affects our greater health and well-being. And we, in turn, are affected not only emotionally but also physically and spiritually…Greg Anderson
Until Next Time,
Good Trading and Brain On!
Janice Dorn, M.D., Ph.D.
janice@thetradingdoctor.com
P.S.—Take a sneak peek at my new book, Personal Responsibility: The Power of You, published in January, 2008, at www.personalresponsibilitybook.com.
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