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@josh I agree with much of what you said but I define boring different from unfullfilling, unsatisfying etc... I don't think someone should spend their life doing something that brings no personal satisfaction. I can be bored trading but it can still be a satisfying occupation that I enjoy. I do not want it to be exciting. I want it to be emotionless and emotionless is boring.
So I am very bored with trading but also very satisfied and really like doing it. I would never encourage someone not to trade because they finding it boring. I would encourage them to quit if they can't make money or it brings no sense of personal satisfaction. I think you could say that about a lot of occupations.
I lost a ton of money back when trading excited me now that it bores me I make money. Go figure.
"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."
Ha! You have put into words what I have really been striving to do... Get myself in a state of calm and relaxation where I am not excited or excitable when taking trades; fear and stress are on the distant back burner. Decisions are fairly automatic and result in little emotion. I have always heard that very accomplished traders are very "bored" when they trade because it is just a matter of following a routine. Following the routine is gratifying in that at the end of the day the profits you have made give you a sense of accomplishment and the ability to enjoy some of your other passions in life..
Thanks for shedding your light into this!! I agree with @josh... I would say that a newbie that is not really "excited" by trading initially should most likely walk away.. There is nothing boring(to me) about it when you are new and learning and seeing the potential of making or losing a pile of money in minutes with no restraints except your bank account...
@Traderwolf great statement. The routine and successfully following is where the gratification is in trading at least for me. The daily mechanics I would not call fun. I have never enjoyed a backtest or sitting in front of a computer for hours on end. But the end result and where it can take me in life has some exciting possibilities.
Bored with the mechanics excited about where I can be in a few years.
"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."
I understand your unfulfilling / boring distinction, that is a good point. I guess we would have to just have different opinions about the emotionless part. To each his own!
I'm still new to things but I don't associate boring with being emotionless. Being emotionless to me sounds like being in control of your emotions enough that it doesn't interfere with your decision making. I would never encourage someone to do something that bores them. But boring means that you're not enjoying what you're doing. If you're not enjoying what you're doing, you're not living your life to its fullest.
I'm going to suggest something slightly different.
Boring things are usually what makes you a better person. Studying. Weight lifting. Running 120 miles per week. Shooting 10,000 baskets from the same spot. Memorizing precedent cases in law school. Cooking your own meals and washing your own dishes. Taking blood tests before and after a race. Setting up the chess board 10,000 times over and over again until you become a grandmaster.
You could make some improvement by adopting a better regimen, e.g. finding an effective use of the 5 minutes you are waiting for each bar to complete.
However, there is a minimum amount of boredom that you must put up with, and chances are, you're better off enduring the boredom until you're used to it rather than changing your trading style. Changing your attitude towards the boredom might help, but in the end, that's overrated: I am extremely passionate about piano, I love classical music, but I'm terrible at playing the piano.
I guess what I am really trying to say is I must be Dr. Spock when trading and Captain Kirk outside of trading. Just sayin.
"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."
Actually, I suggest you keep both 'in your head' whilst trading: Captain Kirk to take disciplined trade actions, after consultation with Dr Spock on trade analysis. You could add a few more 'voices' for even more success. Seriously!
