How much information do we need to consume for success?
- by Anna K.
Bloomberg in the morning, radio news on your way to the office, Reuters in the middle of the day, notification from your trading signals provider, a little more Bloomberg, another peak at trading signals, newspaper at dinner. You go to sleep after reading a book on new trading strategies and in the morning the cycle repeats itself.
If that is what your day looks like, then I have something to say to you. First of all – wow! I can imagine how much you know about the condition and state of the world politics and economy. But on the other hand, don’t you think that you are burning up?
Does it ever seem to you that you are taking in too much information on the state of the world? Does it ever seem that the real you is getting too lost in the flow of the news that you get every day in the quantity that you done even measure anymore?
I understand that trading can be overwhelming, but in the end we all have to have some kind of limit on what to read and how much information to take in.
So, how much is enough and even just right?
I would say that there is one certain condition – when you feel as if your head is exploding with information – you hit your limit. When you feel that your head starts to hurt every day, that means that you are too stressed out from the news that you are getting. When you start to lose track of what is really important in life – you are really too close to the point of burning out.
Here is my advice on how to escape that fate:
1. Limit your intake of the news to two-three times a day.
2. Give yourself cleansing days – days with no news at all.
3. Start skipping that news broadcasts. They only add more stress.
4. Select only the best and more reliable sources.
5. Subscribe to newsletters – short and precise information all once a day.
6. Trust your trading signals to give you a perfect amount of trading information.
7. Stay away from the news flow during the weekend.
8. Put alerts on the topics that really interest you to only learn about them.
9. Learn to distinguish between needed and not-necessary information.
These nine easy steps are going to help you limit your intake of the information as well as help you only learn about the things that you need to learn about. After all, excessive information is only going to harm along the way. Learning how to limit yourself is going to go a long way for you.