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How do you overcome your boredom?
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How do you overcome your boredom?

  #1 (permalink)
Elite Member
Spokane Valley, WA, USA
 
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How do you overcome your boredom?

I want to say firstly that I did do a search on this subject and although I found a similar thread, it was only similar in title. So let me first start by saying that I am a beginner. I have tried daytrading in the past but I was naive an clueless. I read the advice of others and then did exactly the opposite; did exactly what they said I would do. It was exciting and it made me nervous. The potential of big money and a lifestyle to go with it. A career that I could do into my 80s was also appealing.

I had to make some big mistakes and lose a lot of money before I changed my mentality and approach. Now it seems I have the opposite problem and here is where I would like some advice. Currently I am trading in a paper account using the ES. I find it boring and mundane! When I have to practice self-control and restraint, it's not nearly as exciting? Did any of you have the same experience? I find myself getting bored. I have looked at the chart every which way and drawn all the trend lines I can. That ticker is moving so damm slow that it is driving me crazy. When I use the NT playback feature, I predict the market movement and then turn up the speed to 300-5000 times! I wonder what you guys do to not got crazy? How can one just sit in front of a screen and watch this paint dry? Slight exaggeration but hopefully get what I'm saying. Thanks for the read!

John

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  #2 (permalink)
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  #3 (permalink)
Scarecrow
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I think that comes with paper trading... if you feel bored using real money, then either your very good, or have way too much.

I have approximate answers, possible beliefs and different degrees of certainty of different things. But I'm not absolutely sure of anything and there are many things i don't know anything about.
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  #4 (permalink)
Elite Member
Spokane Valley, WA, USA
 
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You may have something there. I listened to an Al Brooks webinar on Mikes's site and Mike specifically asks him about how he feels about paper trading and he discourages it. He believes that one should trade real money as soon as they are competent. He also mentions that perhaps one shouldn't start with the ES. He mentioned a handful of EFT's and such. I will have to consider this I think.

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  #5 (permalink)
Scarecrow
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You will not learn paper trading the same way you would with real money. Starting small is key because you need to expect to lose while you learn, so limit those losses. ETF's and micro futures may be a good place. although one mans dime is another mans dollar you don't need to "overpay" to learn...

"There is something irreversible about acquiring knowledge; and the simulation of the search for it differs in a most profound way from the reality."
-Oppenheimer

I have approximate answers, possible beliefs and different degrees of certainty of different things. But I'm not absolutely sure of anything and there are many things i don't know anything about.
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  #6 (permalink)
Error-prone
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I have a slightly different view on this.

While you trade you will experience a variety of responses (emotions/feelings/thoughts) to the events taking place. Nothing happening being one of those events. The level of risk one is taking will change the nature of the responses, most obviously their intensity. The key in trading is that one can respond to different events but one must stop oneself from trading off plan because of them.

So I regard all responses that might cause me to stray from the path of righteousness as chances to study myself and improve my performance. Mindfulness and a trading diary are a key tools to perceive what is taking place in your mind and delay/prevent actions that might take you off the path. Mindfulness helps most when you are becoming overexcited (a big position and you get hit by fear or greed and move off your rational sensible plan) but when you become aware of boredom you need to deal with it too.

One way is to find ways to stimulate your mind. Maybe some music? Maybe 5 minutes playing your game of choice. Maybe a timed break where you read or do some exercise. I have found that setting a kitchen timer or your pc equivalent for a period less than the time it would take for the next set-up to develop to be an effective tactic. Its important not to be so distracted that you miss the next set-up or that you come back "high" and take an impulsive trade without qualification and planning.

So, mindfulness to detect arising responses including boredom, labelling breathing and mindfulness to reduce overstimulated states, and timed alternative activities when you're too relaxed.

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Fear!

Focus man.

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  #8 (permalink)
Learn to swim
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We are in the doldrums of summer as well. Things should start moving more quickly in September or so

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  #9 (permalink)
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You are bored? Good. This will teach you patience.

If you are trading for "action", "fast money", "bottles and models", and the like you are setting yourself up for failure. Learn to trade only when there is great opportunity. Find your accomplishment in the process of trading not in the outcome.

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  #10 (permalink)
Scarecrow
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eudamonia View Post
You are bored? Good. This will teach you patience.

If you are trading for "action", "fast money", "bottles and models", and the like you are setting yourself up for failure. Learn to trade only when there is great opportunity. Find your accomplishment in the process of trading not in the outcome.

Nicely put...

I have approximate answers, possible beliefs and different degrees of certainty of different things. But I'm not absolutely sure of anything and there are many things i don't know anything about.
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