In response to those who say "do something else", in my own experience (Spider Solitaire and RC helicopters favourite distractions in the early days) it's better (more profitable) to stay focused on the job.
The following user says Thank You to bnichols for this post:
i have been thinking about this alot. my mind wanders so easy 'waiting' for a trade to appear.
and i think i came up with something.
i think the boredom comes in because the trader (me, in this case) doesnt have the setup that i am taking down to a science. i am still using my own bias in there.
i am not confidently waiting for 'my' setup to take shape so i can trade it.
how does a weak setup lead to boredom ? i see it as not having structure. i am sitting there waiting for something to occur but there is not really sure of what it is i am waiting for (but i think i will know it when i see it mentality which is dangerous)
does this sound plausible to anyone ?
good trading. lf
Trade what you see, not what you think.
"The better the mechanic, the fewer the tools"
"Futures Trading is risky and can cause substantial financial gain"
As a long term trader, we always have the option to take a few days off to renew and rejuvenate when we feel stale and are tired of searching for the next holy grail stock.
In the past I used to go onto chat areas and I would see day traders chatting but more importantly keeping each other apprised of intra-day stocks. One of the problems with trading on-line is that it is a solo job for the most part, especially if you are a single person and not part of a financial team (I am guessing there).
As a single person, one is limited as far as how many new opportunities you can find since you are always worried about missing the timing of your bread and butter play. Music does help fill the void sometimes but it can be a lonely occupation.
I saw those guys having fun chatting back and forth and each following 1-3 stocks and helping each other out by alerting when they saw an opportunity unfolding. Now these were intra-day swing plays on stocks I have no idea if you are doing options, futures, Forex or whatever and if this can apply to you, but if you can link up with a couple of other traders with similar interests and use something like SKYPE to link you together then you can feed off each other.
As a long term trader I do this though it is not critical as far as timing is concerned. I have a select few people that I "talk stocks" with once a week...to share opportunities and support each other.... it does work...everyone needs some support.
If my current strategy wasn't showing any entries, I would look for other edges. I evolved my strategy over thousands of hours this way. It takes a lot of time and patience. Now I'm pretty set in what I do and if nothing is there, then I go to the gym or do something else that doesn't have to do with trading.
Strategy ≥ Money
The following 4 users say Thank You to Massive l for this post:
If I'm ever feeling uninterested in doing things I normally would find interesting it's usually a result of low serotonin or dopamine levels. A good way to jump start the brain into getting back into a normal state is to simply exercise a little bit. It could be as simple as lifting some weights and doing a set or two. After exercising the blood flow increases, endorphins are released, and mood generally rises. Drinking a lot of water helps too. It's always good to keep track of these things like heart rate, dehydration, hungriness, exhaustion, blood sugar etc. It doesn't have to be precise but it can be the difference between sitting there staring at the screen or being productive and doing something interesting.
IMO, you're bored because the way you trade is not your trading sradingtyle.
Also, trading stocks that have a 3 minute chart moving in .05 increments wont
be as exciting as one moving in .25 clips. You're probably trading names that
don't have an underlying catalyst either.
I feel like the majority of time spent at the computer, you are not actually trading, only looking for setups(or should be). So boredom could definitely be a factor if you don't enjoy watching the markets. You might have some emotions well up inside you, but excitement would not be the emotion I am looking for when I put on a trade anyways. So it's obviously about balance.
Day trading also just might not be the fit for you. Swing trading allows you to spend minimal "chart staring" time if you are proficient, and allows you to place entries, adjust stops, and just get on with your life.
As for me I set timers so I can walk away from the screen, play around on the internet, read etc. without missing setups.