"It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!" Jesse Livermore For people unable to sit tight like me, automated trading should be the answer, but only as long as you don't sit at all in front of the screen. If you happen to sit in front of the screen, you will still have to sit tight. Which I didn't do, because I am a rebel and I will break all rules, even my own rules. After using an entirely automated system for a few weeks now, I have realized that I haven't let it run by itself, but I have tried to make a few trades on my own, and have also tried affect its executions on a few occasions. I thought I would have made more money by doing this, but ultimately I didn't. Actually this is what happened each time. I made an extra (discretionary) trade and it was profitable, then I got confident and made a second discretionary trade, which was slightly unprofitable, then I got mad at the market and made a third trade very unprofitable that wiped out all the previous profits and showed an overall negative balance. This was the very reason I started developing an automated trading system - I can't sit tight and I always end up losing my emotional and financial balance with discretionary trading. So now I am going to have to deal with being bored. Essentially it comes down to not looking for any excitement in the market and not getting any fun from it. The system takes care of everything and you shouldn't even look at the screen - of course once you have made sure that everything runs properly. I will have to find things to do. A lot of things to do. The system is finished. All the research is done. It seems to work. I will just have to wait and let it run. After trying for 10 years to make money with discretionary trading, and constantly losing it, it is time for me to accept that I am unable to do it. I now have to find something else to do. It's just a reminder I am writing here to remember in the future where I was at. If anyone else wants to share similar experiences please do.
I don't quite have an ATS up and running, very close though. It has to be babysat [sitted?] all day every day. I'm getting an Apple for surfing and Photoshop, I have a ham radio license, ill set up a rig and hang here all day hobbying away the hours....
xbox 360 or videos games in general. chainsawing someone in gears of war is a great way get your mind off of trading and good for morale too. however, also highly addictive and generally humiliating when you get beat by a trash talking punk kid. yes, i need a less stressful way to pass the trading day i guess .
One thing I would really like to do though is get a treadmill or something to exercise on during the day and still keep an eye on the trading screens. Does anyone out there do this with any success? Make money and get in shape at the same time is not a bad thing.
Treadmill and a bowflex come in handy when the signals slow or the market gets too choppy for my style. I use an extra laptop to monitor for setups and alerts as I don't want the exercise equipment in the office. Great for boredom, stress relief, and of course, overall health.
I was thinking the same about exercise... I might get a Wii for warmup and cool down and do the weights... I take off most days on the bicycle right after the day is done and I used that for the warm up but if I can get the weights done RTH it's better..... It's sort of like being in jail [believe me I know what I'm talking about, I had a misspent youth that would not quit] , exercise is a good option for passing the time. Edit: Maybe a pool table too..... my game is rusty.. I might rent a business suite in a motel, could have stuff installed for workouts and have great meals delivered....
I think this will be a good thing to have if I can get away from the desk. I have used a bowflex for years and it is pretty good machine in my opinion. They have a thing now called the "treadclimber". I'll have to check around and see what is a good one to get. It would sure beat sitting around staring at flicker all day.
.._. _... when I'm up and running I'll pm you and we can start the "watching the ATS all day" net....