a better question would be: what high volume day trader does not have ADD or similar ? meditation helped me dramatically. surfer
I used to have that ADD or at least something similar - then I got old and tired and said the heck with it.
Thanks for the input. I am working on several different ways to overcome this problem. Probably ridding my self of coffee might help, I try pre-market meditation, but it is tough in a room with 150 people. Don't know if I will go the drug route, but I have seriously considered tossing my TV out. Though, I would miss the Simpsons in the evenings...
I definitely think anyone who is drawn to trading has some form or another of ADD, and if not, there are plenty of symptoms that would fit most traders (i.e., the need for excitement, restlessness, usually above-average intelligence). Working-out is key for ADD, and the #1 remedy is Adderall which I am considerably lucky enough to have in good supply through my shrink. I need to be carefull with this stuff though, as you must never think a "little alert" is fine, so "more alert" is better.... After awhile all stimulants are just like coffee in that when you ahve too much, you start overreacting, overthinking, and in my case, overtrading. P
Well I don't know much about ADD, but the way I tackle boredom in trading is to trade everything. I trade over 10 instruments and still looking to trade more, this way I don't have to wait for a setup too long. Also once I reach a certain profit target I stop trading for the day. If the market really sucks try playing some games online and before you know it, you'll see a trade coming.
I have ADD and take Adderall. I started taking it two years ago but I have not actively daytraded while on Adderall, so I can't say what effect it would have on my trading. It makes a huge difference in other areas of my life, though it does have some manageable drawbacks. (insomnia, irritability, etc.) Being able to read efficiently makes a lot of difference, and that is one of my main improvements on the meds. I agree exercise is very important. I run 3-6 miles several time a week and it clears my head.
psychotropic drugs prescribed for the treatment of ADD are quite bad for your overall health. For example, Welbutrin gave me seizures which resulted in hospitalizations. And don't neglect your stomach flora. Those chemicals have destroyed my delicate balance. I have stomach cancer, chrons disease and other maladies to worry about and check for because of my digestion of cocktails of psychotropics. Beside, none of those drugs work well at all. Yeah they give you energy twitches but they never helped me concentrate, not at all. The disadvantages far outweigh the advantages of ingesting drugs. I strongly recommend you, whoever you are, don't take drugs, and tell your psychiatrist to go fuck his/her self, and in replacement get yourself a published psychologist with a strong background in philosophy, ethology, and sociology. Exercise is the best remedy for any disorder. Especially running and if not running, swimming. All other exercises aren't nearly as good and require far more time to achieve the same results. If you want to feel great, run for thirty minutes every day.
I agree with first and foremost. If you could put all the benefits of regular exercise in a pill it would be the best-selling drug in the history of all medicines. And I would tend to believe that long-term use of any psychotropic drug would begin to have detrimental effects that would outweigh the postive effects. However, for those of us who cannot concentrate for too long at one thing, constantly are in search of more risk simply for excitement, it is a very viable solution. I have been on 30mg of Adderall for two years. I take a month off of it every six months just to clear myself of it, but I would say overall, the productivity and sense of purpose which results from this drug, has given me more happiness that any other therapy. WHile I agree that the treatment of neurochemical disorders is still very much in its infancy, you need to remember that each of us as a nuerochemical profile that differs just like a fingerprint. Now there is no need to take ampetamines just because you don't like the class in school you are taking and you need to study....discipline would help out here.....but many people with ADD suffer their whole lives, and even though they tend to be intelligent people, they can never get a career together, end up in broken marriages, etc. Drugs are not the answer (at least the generation of drugs we have now), but for some, they are the difference betwen misery and peace of mind. Conssider that any list of side effects of any drugs only cause those side effects to certain people in certain percentages. If I was to start worrying now about how dextroamphetamine (Adderall) is going to affect me long term, well then I might as well start worrying about Nutrasweet and MSG as well--no one really nows how safe or harmful any of these drugs are. Which is why there are so many lawsuits against parm companies for damages. But its a choice you need to make with yourself. If there is a benefit, then stick with it until you find an alternative more wholistic solution. If there is no benefits, try something else, be it therapy, drugs, or perhaps moving to New Zealand where I hear a day-to-day existence is not nearly as stressful as the good old US of A.
I should've written a disclaimer about my generalizations. I've had terrible experiences with drugs that have terribly damaged my life. I would recommend opiates before I would recommend zoloft, paxiil, depakote, remeron, welbutrin, prozac, xanax and the others which I forget the names of. The side effects are very real and I recommend you never take your meds on an empty stomach and that you drink a lot of water. These sometimes permanent effects may not be years away, they may afflict you or not within a month of taking a med. Suit yourself, and to understand your chances of illness I suggest that when you read the warning labels, double or triple the stated percentage of those who are negatively affected.
I don't know if you were trying to use this extreme contrast to your experience with antidepressants and anxioltics (the benzodiazipines, i.e. xanax, valium, and the others) to "make a point", but please be aware (and remember I not advocating the use of anything), that opiates, when they are not bought by from local dealer who cuts them with any number of poisons, or even worse, sells you a strength that you are not familiar with, which is the cause of ODs) are practically harmles. Yes the vey real threat of physical dependence is there and that can be a bitch to get away from (think cigarettes), but know that in reality (and contrary to John Walters and his moral police) that these drugs are actually one of the most benign and non-harmful substances known to man. They do not harm the liver, any organ in the GI tract, nor is there any permanent affect on the brain (again save for a strong physcial and psychological dependence (just like cigarettes), which can be reversed. In fact, other than the social stigma, I would rather have an addiction to Oxycontin than cigarettes. Except for the fact that OC is really expensive on the black market and the social stigma would be difficult to deal with, you would be FAR better off from a health standpoint being addicted to an opiate over cigarettes or an antidepressant. Opiates have been used since approximately 3000BC, and there are no cases of death while taking them when the person chooses the dosage he is confortable with. And again, a danger is taking an overdose, which in almost all cases, as stated earlier, is a result from an unfamiliariarity of the source or the drug (an unknwon dealer/strength). Also, these drugs can be lethal when mixed with any other cardio-vascular/pulmonary depressing compounds---mainly alcohol, which in my opinion is the worst of them all. It really irritates me that doctors (but primarily the DEA) wants to rid the world of Oxycontin. It helps such a significant number of people like nothing else prior. THe only problem is that a few morons in the Appalachians got hooked. You tell me what is worse, dealing with a relatively few people who are dependent on a drug the only real consequence is jail (and death by AIDS do to daily ass-rapes) which is not a feature of the drug but rather our laws, OR the millions who suffer daily with unbearable physical pain for which there is no alternative. Its crazy...but again that our good ol USA. Parker Any comments to the contrary are welcome as this is a well-researched and well-thought out issue I have.