Avoiding boredom while trading

Discussion in 'Psychology' started by magicdust, Jan 15, 2008.

  1. How do you do it?

    I trade FX, usually from 7am to 5pm GMT (I finish early if I have a particularly good morning). In those 10 hours I usually place 1 to 4 trades.

    I know my setups and don't have to spend all day analysing charts. I don't need all this time to "research" or "refine my strategy" or whatever. In the past, I did, not so much now.

    Lately boredom is taking its toll. I surf the web, listen to podcasts, etc but I still find myself tempted to put on boredom trades or just losing concentration. Which can hurt at the oddest time as when I spend 15 minutes writing a post on some forum, that's usually when the market moves.

    How do you stay alert but not bored? What activities do you do during the trading day that don't conflict?

    magicdust
     
  2. I got my PSP right beside me. It has gotten me through slow volatility days so i dont end up forcing trades because i got bored....
     
  3. surf porn sites :)
     
  4. Watch more markets?
     
  5. I got my PCP right beside me. Keeps me busy.
     
  6. PSP might keep you busy, but PCP will definitely give you a new perspective! :D
     
  7. eBay buying useless junk, it's great it drives the wife nuts!
     
  8. Gambling is all about "action".

    Trading is all about "discipline".

    Maybe trading isn't really for you.
     
  9. OK, yours were sobering words and they do give me pause. Time to look inwards, perhaps?

    Nevertheless, I'm still curious as to what you actually are doing, in those times when you are waiting for a set-up to form, perhaps for a period of hours, requiring vigilance but little activity (assuming that your trading style mandates such a situation - mine does, as I am not a scalper nor do I have automated systems).

    Yes, it is a discipline issue, but if you have any pertinent self-management tips to share I'd appreciate it.

    magicdust
     
  10. gnome wrote

    Gambling is all about "action".

    Trading is all about "discipline".

    Maybe trading isn't really for you.

    ...............................................................................................

    These are excellent statements.

    Gambling loses money.

    Discipline makes money.

    Not having discipline even when one has a good strategy,
    declares the good strategy null and void which becomes
    something else.

    Anxiousness is a good strategy killer, avoid anxiousness
    like the plague.

    And when one truly trades for a living, discipline
    becomes understood.

    A setup that is seemingly close, may be entered because
    of anxiousness, however one must wait till the
    good method is fully exhibited.

    Let it come to you, you do not go to it.

    Making money , even if it were one trade per day,
    is not boring. One needs to appreciate money.
     
    #10     Jan 15, 2008