What are your feelings when the market closes each day,or shuts down for the weekend? - Psychology and Money Management | futures io social day trading
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What are your feelings when the market closes each day,or shuts down for the weekend?
Updated: Views / Replies:2,514 / 22
Created: by forrestang Attachments:0

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View Poll Results: How do you Feel when the Market Closes?
I feel Great that work is over! 1 4.35%
I feel a sense of relief that trading is done..... 1 4.35%
I feel anxious and can't wait for the market to re-open! 9 39.13%
I don't care at all. 12 52.17%
Voters: 23. You may not vote on this poll

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What are your feelings when the market closes each day,or shuts down for the weekend?

  #11 (permalink)
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I'm with Mike on this one in that I basically don't care one way or the other. My job is to take the trades that my plan allows for and manage those trades according to the plan. The only thing that matters is the cumulative expectancy of the next 100 trades. Being excited or relieved that the trading day is over implies that I doubt the validity of my plan. Being excited implies greed and being relieved implies fear. Taking advantage of other people's fear and greed while minimizing my own is the road to consistent profitable trading.

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  #12 (permalink)
Urban Samurai
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Iono bout that. I would say if one is relieved his trading day is over so he doesn't have to take anymore trades, then sure that is obviously doubt and uncertainty.

But if one is glad the 'work day' is over so he can do something other than trade, I think that's quite different. I mean what if you were looking forward to hanging out with friends or family that day, and you were going to leave as soon as your trading was done? What if every day you look forward to going to exercise?

The two above scenarios have similar feelings about the day ending, but the motivation behind them is completely different.

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  #13 (permalink)
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Just be sure you aren't relying on your trading to fulfill your needs for excitement. Better to find other outlets for those things, so trading is all about being calm yet assertive.

It's important to get away from your screens as much as possible. Whether you go play Call of Duty on Xbox, or if you go to the driving range or play a round of golf, find something where you can release excess energy so you aren't tempted to do so with your trading.

Mike

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  #14 (permalink)
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forrestang View Post
I would say that is about the way I feel. Since I've spent so much time into trading, and have mostly abandoned doing anything I used to do socially, at least until I get comfortable with trading, that I barely know what else to do with myself other than dealing with charts in some way.

When the market isn't open, there is..... LOL almost an emptiness.

For your own good, get a life outside of trading. Take me for example, I have a three-year old (OK so I don't really have a life). I used to do the same thing, charts, charts, charts. Over time I got burned out and took 3 months off, and when I returned things were much better. I answered that I could care less when it is over, I seldom trade past 10:00 AM M.S.T.; that's about all I can take. All that concentration wears me out.

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  #15 (permalink)
Urban Samurai
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I still look at my question differently than you guys.

The way I see it, is if you guys are looking forward to doing things OTHER than trading and waiting to find your trading opportunities, to me that means you are glad that work is over. That doesn't have to mean you dislike trading, or uncomfortable with it, it just means you have something else to look forward to.

There are some successful traders that literally don't do ANYTHING other than deal with charts. That imo is a lot different than a successful trader that is good at what he does, doesn't feel emotional about placing trades, but looks forward to doing something else.

I still think the topic of this poll is being conflated with the question, "How do you feel emotionally about taking your next trade setup?" Which is a topic talked about ad-nausium already.

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  #16 (permalink)
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forrestang View Post
I still look at my question differently than you guys.

The way I see it, is if you guys are looking forward to doing things OTHER than trading and waiting to find your trading opportunities, to me that means you are glad that work is over. That doesn't have to mean you dislike trading, or uncomfortable with it, it just means you have something else to look forward to.

There are some successful traders that literally don't do ANYTHING other than deal with charts. That imo is a lot different than a successful trader that is good at what he does, doesn't feel emotional about placing trades, but looks forward to doing something else.

I still think the topic of this poll is being conflated with the question, "How do you feel emotionally about taking your next trade setup?" Which is a topic talked about ad-nausium already.

I think traders who look at charts all day and all night are trying to be chart analysts, trying to make sense of every red bar, every reversal pattern, every... For me, everyday, after market close, I look at 5 or 6 different instruments, and I mark them all up with arrows for my setups and add a red circle to each arrow of a losing trade, so on a daily basis, I know how my setups would have performed for that day on all my favorite instruments. That activity takes me about 30 minutes to do max, because I am not analyzing charts, I am looking for 2 specific setups that I recognize in 0.5 seconds as a result of this daily training activity. Beyond that, I want nothing to do with the markets outside of trading hours. But, I remember the days when I was researching and looking for a trading method, when I would look up at the clock and realize that I've been looking at charts for 10 hours straight on a weekend day.

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  #17 (permalink)
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monpere View Post
I think traders who look at charts all day and all night are trying to be chart analysts, trying to make sense of every red bar, every reversal pattern, every... For me, everyday, after market close, I look at 5 or 6 different instruments, and I mark them all up with arrows for my setups and add a red circle to each arrow of a losing trade, so on a daily basis, I know how my setups would have performed for that day on all my favorite instruments. That activity takes me about 30 minutes to do max, because I am not analyzing charts, I am looking for 2 specific setups that I recognize in 0.5 seconds as a result of this daily training activity. Beyond that, I want nothing to do with the markets outside of trading hours. But, I remember the days when I was researching and looking for a trading method, when I would look up at the clock and realize that I've been looking at charts for 10 hours on a weekend day.

So that means you could enjoy your job, but you are glad when it is over right?

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  #18 (permalink)
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forrestang View Post
So that means you could enjoy your job, but you are glad when it is over right?

What I enjoy about trading is the freedom that it gives me. The freedom to work when I want, and don't when I don want. The freedom to work where ever in the world. I have on occasions gone and spend a month in Moscow and traded while was there, several weeks in Greece and traded while I was there, etc. On a daily basis, trading is actually pretty boring, that's why I am on futures.io (formerly BMT) so much

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  #19 (permalink)
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I dont' wait till the market close, as I tend to close earlier.
On average I trade just 2 and half hour, or about 3 hours when the market is active on Wed (EIA CL Report) and Thur (NG Report).
However, I always looking forward for Monday . for another 2 hours trading session.

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  #20 (permalink)
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I know I could care less. My expectancy is built on 5 days per week less holidays so weekends have no statistical value. Simply a couple of days my bot takes no trades. Not good not bad just indifferent.

Back when I traded discretionary and was rolling dice very week I got a warped thrill that caused me to want to trade all the time. So weekends represented time when I could not get my thrill. So there was kind of a let down on friday and an excitement on Monday morning. But that is all gone now. Trading is boring the way it should be. But I do get satisfaction over time as my system fulfills it's expectancy.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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