I was just trying to think about a question asked by another poster and I realized that I was blank. Couldn't think straight. Anyway it occurs to me that I devote quite a lot of time to thinking about trading, preparing for trading, reviewing charts, reading articles about trading, etc. and this is the kind of thing that leads to two conditions. 1.) Burnout, and 2.) Sleep deficits. Over the last year I have traded the DAX starting at midnight (west coast time) until 2-2:30am, then sleeping until 6am and waking up to trade the open of the Emini from 6:30 to approximately 9am. If I don't have a position on, I try to sleep from 9:00 or 9:30 to 12:00 and then trade the closing hour of the Emini market. As time went by, I noticed that my performance started to deteriorate, I began to lose money by making stupid mistakes, and my physical condition went straight to hell. In the last several months, I have stopped trading the DAX and am trying to re-adjust my schedule back to "normal". Also I have arranged for time to exercise and eat properly. In addition, I plan to reduce my exposure to trading related pursuits so that I can actually "have a life". I just want to post this so that perhaps other traders have something to consider. If the shoe fits. Anyway I am going out to see a movie. Later, Steve46
Well, as you get older this really takes a toll on your reserves too. When you're in your early twenties or younger it's no sweat, but later on those habits break you down. I used to trade the european markets from Brazil with a 4-5 hours difference (GMT-3,-4), but have given it up. However, I get quite into stuff when programming or researching projects I'm working on, and can go up to 40+ hours stretches, just like when I had 540+ hour (billed) working months as a computer consultant/CEO earlier. I usually take 2-3 days to realign my sleeping pattern (but get a relapse 5-7 days later), which has been very variable ever since the time of my military service - where I'd sleep at least 25 hours during time off service every 2 weeks. My experience too is that sleep deprivation makes for very bad trading judgement, and you can get careless about uneccessary losses incurring. Concentration abilities also rapidly deteriorates, making it hard to watch graphs, time&sales or react to events by taking sound decisions. Iron will might get you through some shorter sessions, but at least a little sleep goes a long way if you absolutely have to stay up a long time for sessions. This should however trigger the following reflective question: Are you doing things right if you need to stay up, jeopardizing your trading, money and health? Alternative strategies, do actually exist, and probably work better.
Sleep deprivation may lead to a lot of bad decisions. It may also lead to stress related illness. A perspective not focused on just trading is important to one's health. Even little things like walking a dog and excercise can be positive antidotes.
Hello: DAX is the German index (symbol FDAX). There is the spot or cash DAX and the futures contracts traded on a quarterly basis. The DAX and Stoxx50 are the two main contracts that trade on the EUREX. You can obtain more info by searching ET or using Google and typing in "DAX", Eurex, or "Stoxx50". Regards, Steve46
I am foremost for living a good life without the stress and fast movement created when day trading the different exchanges throughout the world. You can actually trade without sleep deprivation if you plan your position trading ahead. One thing about making fast decisions is that you always make some mistakes, even if they are marginal. I plan my trades so I can go on with my life and enjoy every day (apart from having a money hungry exwife...) It is important to be relaxed as a trader, and treat it with respect and maintain the ability to make money consistently. My motto is to work as little as possible for the best possible return. And yes, you can trade the FTSE, DAX as well as doing well in New York.