Discussion in 'Trading' started by skydds, May 9, 2007.
daily rituals?, obsessive compulsive disorders? hell anything
My day starts whenever I wake up. Usually take a road trip to starbucks and get a cafe moca, and bagel, and chill there for a bit. I get back around 7:30'ish, and tune into CNBC and see what I can expect for the day. I'll take a 2nd or maybe even 3rd look at the stocks on my watch list and make sure that stops, or buy orders are where they need to be, then just wait for the market to open. Once the market is open, the boredom sets in, especailly when my stocks arnt gaining any serious points. I check ET through-out the day. If I stayed up all night, I'll passout shortly after the open...if not, then I vege out in front of the TV and watch the news (fox/ msnbc) or something entertaining, like VH1 or MTV. Around mid-day I get so bored off my ass, I either go to the book store and read the same old books, and flip through the same ole magazines of yatchs, luxury cars, and million dollar real estate. That usually makes me think about my positions and how much money I have made/ lost, and at some point being able to afford the finer things in life. Before I go to bed, I scan stocks for the next day, and update my journal on ET.
check out the advancing stocks
I read the Bible and Pray!
Looking at USDJPY and EURJPY.
Here is my day: (Forex and Futures trader)
4:30am - Wake up - Eat a full meal - Get dressed in my "Trading" clothes lol (Got 10 shirts made that have my internet FOREX logo on them)
5:00am - Update the 10 websites I run
5:30am - Make sure stops are still in place
5:45am - Read a bunch of economic news releases and other news.
6:00am - Look at the charts I plan to trade today.
From 6am to around 2Pm - Its just charting, trading, reading news and making sure all orders placed today comply with my risk management plan.
2:00pm to 3:00 - Work out
3:30 - Doing SEO work for my websites
After that, I just relax
You are not making consistent money in the market, you do not have a degree to fall back on if trading does not work for you but you still get cafe mocha and bagel from Starbucks! That's more than $5+ a day for breakfast.
I'm not trying to be rude here because it's your money and it's your choice on how you want to spend it but it's something to think about.
Cash, you cant be serious that you get bored off your ass during the day. I know you are not a daytrader but you certainly could spend some time learning to read/gauge price action of your stocks or the futures. There is a TON to be made everyday, intraday. I suggest trying your hand at this stuff. Yes it will take months and months and yes it is a lot of work but if the goals are the "finer things in life", wouldnt it make sense to not waste so much time (bookstore, TV etc) and instead broaden your horizons?
Oh, and brew your own coffee, starbucks is a rip off
Screw that. If a overpriced cafe mocha and bagel makes you feel wealthy, I say all for it.
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