I try... to remain calm, while I wait for my trade/prediction to materialize; I predict/trade how the DOW/SPY/SPX chart will move daily, before the market opens. Kind of like fishing, being patient...while thinking about the huge, mysterious, unseen depth below If you're able to tame the market and remain calm too...that's something special. Most traders look emotionally distraught daily I do a combination of things while I watch and monitor my trade daily...I might lay down, or read or watch stuff on the web, or exercise and stretch. I find that sipping on hot tea calms me down, and clears my head,
Lol!!! That cannot be true! Once you reach http://www.theverylastpageontheinternet.com/ there is no need to read it all again!
Since there is no noise (every single tick is important) i generally like to watch the screen and compare vol with every tick...kind of passing time...ticks build..into points....and minutes. The way a bar forms is interesting.
If you dont like sitting in a trade for minutes or hours, why not switch to a scalper trading style ? If you scalp the EURUSD for just a few pips per trade, or the FDAX for just a few ticks, you can be in and out within seconds and also dont have to wait for the next trade forever, since there are many shortterm scalping opportunities each day.
My trades (stocks) can go on for several days up to some weeks, 3, 4, 5 or even longer. So the following can be the fill in activities.... Keep an eye on wild pet frogs which live in our patio, on top of pot plants and in large plastic tubs of water filled with aquatic plants, these are tree frogs so they sit in the sun during the day, but like to have a bit of branches just above them, also have fish in these outdoor ponds. Two solar pumps circulate water. Feed wild parrots. Design fishing equipment, currently a new type of Planer board and one with a sail. Study trading ideas, have been doing this all my trading life, keep working on new plans and methods. Surf the internet, usually the news and politics. Text chat to another trader most days via Skype, he's a retired geologist who is still after some years attempting to get together a futures day trading system. Go to shops for coffee and read newspaper most mornings, go shopping. Pimp a couple of kayaks I have in my garage. Dream about fishing (more so than action). Go for a swim in the ocean if not too hot or cold or windy. Assist wife with her gardening, do a bit of housework, cooking, cleaning etc. What I don't do: Watch TV hardly ever and only listen to music just about bed time. Have stopped drinking alcohol about 12 months ago, dont smoke. Don't Day Trade, tried it and intensely hate it, too much stress and energy and time. I live in Western Australia
What do you do while you're waiting for a trade to materialize? Go on a holiday, the algo handles all of that.
Except for new systems that I scalp ones/two lots to forward test, everything is automated on other systems. the exits as programmed on my platform, so once I am in, am looking for next trade as I can have 10-12 open scalping trades going. I watch much YouTube as I can turn that off when I need to do chart, chase the cat, paddle ball, 6,000 games of solitaire, 5,000 games of chess, Hearts, mentor, listen to music though when trading don't even hear it, read about raising animals & farming, and this is why I have automation.