1. Even if you're a discretionary trader, develop as many tools as possible (visual patterns, audio alerts, etc.) to identify a potential trade. Once you get to the stage where you can wait for the trade to come to you, then you'll spend less time having to focus. 2. Have all your meals and snacks planned ahead of time. 3. Get up at least two hours before your market starts trading to clean out the pipes. A big dump can cost you. 4. I agree with one of the previous posters. Plan your life to eliminate as many distractions as possible for 6 1/2 hours. You can mentally train yourself to watch every tick -- it can be done. 5. Optimizing your daily P&L takes real dedication. Develop a model, a framework, anything that can structure your trading to make the right decisions.
This may be one of the most underrated pieces of advice i've read! I think Marty Schwartz emphasized this in "Pit Bull" too.
Great post. Sounds like you have a good plan to deal with Post Trading Desk Syndrome. I moved off a desk a couple years back and it can be a challenge to stay focused at home. I talk to other traders throughout the day (via phone, skype, gmail talk) to stay engaged throughout the day. I have to talk or I go nuts. Cnbc used to not bother me when I was trading for a group. Not ---I cannot stand the damn station. MUTE ONLY. Human Interaction is the big advantage to a trading group. F71, You still using that online news broadcast? If so ---PM me that website. Oh and check your PM in Box. Hope all is well.
i haven started trading but i was wondering dont your eyes strain after watching the screen so long or get a headache - ????????