What do you do while you're waiting for a trade to materialize?

Discussion in 'Psychology' started by Golden Retriever Trading, Feb 28, 2017.

  1. In my experience, I highly recommend taking a break from the screen and have a little rest during the possible pauses. It is very important to give your body and eyes a rest. If you are constantly straining, you will get tired faster, and your efficiency as a trader will decrease. It would be best if you also rested to tame your psychological state. I often advise you to turn on soothing music and close your eyes. A couple of minutes of such rest will give you extra strength. If you are full of energy and do not require rest, I advise you to use your free time for training or to analyze your trading journal.
     
    #51     Aug 25, 2020
  2. speedo

    speedo

    Discretionary does not improvisational. You need a plan to trade. Your entries need to be defined as well as your exits. Know where you get out if the trade fails, either with a hard stop (recommended) or adherence to your rules and when to get out when it succeeds either by a target, series of targets of clearly defined exit signal. Save your "thinking" for coming up with ideas and testing those ideas for viability.
     
    #52     Aug 25, 2020
  3. Will90

    Will90

    Yes that's a good way of using spare time, but yes not get over stressed by stuff.
     
    #53     Aug 28, 2020
  4. easymon1

    easymon1

    #54     Aug 28, 2020