How to Regain Control of Your Focus

Once upon a time, a big-shot called Charles Schwab didn’t have the patience for a long, dull presentation from an efficiency expert. So, he just said, "Cut to the chase—give me your best tip."

The expert didn’t miss a beat. "Every morning," he said, "make a to-do list, starting with the most important task at the top. Focus on that first one until it’s done, then move on down the list. Do this for a month and then pay me whatever you think it’s worth."

Schwab was so impressed that he sent the guy a cheque for $25,000! 

If it worked for him, it can work for us too. But here's the kicker—in our world of endless distractions, staying focused and actually getting stuff done is tougher than ever.

Let’s face it - you probably won’t read all of this article. 

I’m guessing you won’t…

(Oooh… is that a phone ringing? A beep on your computer? A little electronic sound from your phone?... Now… what was it that you were concentrating on?)

Distraction Sickness

Imagine this: you're all set to dive into some serious trading, but suddenly, your mind drifts to those irresistible cat videos or endless social media scrolls. 

That’s what we call "distraction sickness." 

It’s like a virus that sneaks in and sabotages your focus, keeping you from achieving anything meaningful. 

And here’s the thing—it’s not just you. It’s happening to everyone. These distractions are so captivating that staying focused on your original goal feels like an uphill battle. 

Let's face it, we're all addicted to distraction. It's like our attention span has been on a diet and lost all its muscle mass. We're so used to getting a quick hit of information that we've become dependent to it. 

Blame it on our evolutionary biology, but back in the day, we needed gossip, drama, and art to keep us informed about what was going on in our tribe. Fast forward to today, and we have a constant stream of news and gossip at our fingertips. We're practically powerless to resist it. In fact, studies show that we check our phones an average of 85 times a day, spending about 30 seconds each time. 

That’s a third of our waking hours! 

And the worst part is, we don't even realize we're doing it. It's time to take back control and learn how to focus, especially if you want to succeed in trading.

Did you know that 62% of people whip out their devices when stuck in line, and a whopping 80% of them can't last more than 20 seconds without checking their screens? Looks like we've become a society that can't tolerate even a moment of boredom. How shocking is that? 

What’s the impact?

If you want to make it big in trading, you need to learn to beat this beast. 

Without being able to focus and go the distance, as a trader, you just won’t get the results in the markets you’re craving. As with any skilled performance endeavour, there are so many moving parts. However, with good planning, you can get your most important tasks done each day and hit your trading goals.

Plus it can even be more difficult depending on the time of day and how you’re feeling - tired, hungry, or whether you’re hangry (you know that state where you’re hungry, and it makes you angry? Or is that just me?)

According to social psychologist Roy F Baumeister, decision fatigue is real, and it hits us hardest before lunch and in the late afternoon. He says “Even the wisest people won’t make good choices when they’re not rested and their glucose is low.” But fear not! Taking a break, having a snack, or simply resting can help replenish your mental resources and boost your trading performance.

Even judges are impacted by this phenomenon. Jonathan Levav, associate professor of business at Columbia University said:  "You are anywhere between two and six times as likely to be released if you're one of the first three prisoners considered versus the last three prisoners considered." The likelihood of a favourable ruling peaked at the beginning of the day, and declined steadily over time from a probability of about 65% to nearly zero, before spiking back up to about 65% after a break for a meal or snack. 

So plan your trading day accordingly. Start strong and tackle your most important tasks first, before decision fatigue sets in. And don't forget to fuel up with a snack or two along the way. Your trading success might just depend on it!

Want to stop distraction overload?

Here’s the cure:

1. Control your environment

If you're serious about crushing your goals, it's time to create a success environment. But here's the catch – you’ve got to identify the sneaky little distractions that are holding you back. Pay attention to your own behaviour for a day or two and figure out what your personal kryptonite is. 

Could be your phone, your email, or even your chatty co-worker. 

And don't think you're off the hook during brunch with a friend – according to research leaving your phone face up could be sabotaging your focus and ruining your enjoyment of quality time. 

2. Use deep time

Block out chunks of time in your calendar for your important tasks, and set a timer to let you know when it's time for a break. Need to learn how to use that fancy charting package? Schedule a time slot each week to work on it, and stick to it like a boss. You'll be amazed at how much you can accomplish with a little bit of planning and focus.

Let's talk noise. Gary Evans, an expert on environmental stress, discovered that noise messes with kiddos' learning abilities. "Noise exposure is consistently linked to reading deficits and may interfere with speech perception and long-term memory in primary school children," says Evans. But wait, there's more! When the new and former Munich airports opened and closed at the same time, Evans and his team found even stronger evidence for noise's negative impact.

And get this, noise reduction not only helps you concentrate, but it also makes you a nicer person. You're less likely to get distracted and more focused on the task at hand.

Interruptions are like the party poopers of productivity. A study from the University of California at Irvine found that it takes around 23 minutes for most workers to regain their full concentration after an interruption. That's 23 whole minutes! 

So let's limit our potential for getting side-tracked, shall we?

Make sure to build your schedule around deep work time.

3. Concentrate more, bounce less

Think you can multitask like a superhero? Think again, my friend! Research shows that when we try to juggle too many tasks, we end up less efficient and more prone to mistakes.

But here’s your solution. 

Set aside a solid hour each week to plan your tasks and strategise on how to avoid those pesky distractions. I like to call this my "power hour." By doing this, you’ll stay focused and on track with your goals.

Our attention span is like our bank account. We only have so much of it, and we need to be smart about where we spend it. So, let’s take a good, hard look at the areas where we’re not performing at 100% and start making some changes.

By guarding against distractions, you'll be in a better position to trade like a market wizard.