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Trading is boring, at least for me
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Trading is boring, at least for me

  #11 (permalink)
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josh View Post
This is the retail educator's mantra, and I hear it all the time, and for some reason people just take it at face value.

I agree in the sense that it's not productive to get angry and make decisions as a result that are harmful to oneself. However, a boring profession is worse than prison. Why would you want to make money, if you are literally bored for hours a day on end? I know that lunchtime isn't the most exciting, so nothing wrong with doing something else during that period, but if trading is not exciting to someone, then I think he needs to consider another profession.


He is the antithesis of "trading is boring" and I would be willing to bet that the ones who do this as a career do not find making money boring, nor are they automatons when losing money. Note how PTJ responds on a 6 million USD losing day--he is not super angry, but he vows that "they" will repay him. Also, on a 5 million USD winning day, he is very anxious and nervous as the close nears. Hardly the "cool hand luke, mr. robot" image that is so often touted as the only way to be. Perhaps the trading educator's "be emotionless" advice needs to be reconsidered, particularly as we are all different and some of us will be bored, and some of us will actually find it exciting and fun when we do something for 8-12 hours a day.

@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."

Last edited by liquidcci; May 16th, 2013 at 06:05 PM.
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  #12 (permalink)
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liquidcci View Post
I do not want it to be exciting. I want it to be emotionless and emotionless is boring.

I lost a ton of money back when trading excited me now that it bores me I make money. Go figure.


@liquidcci,

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...

All the best,

Wolf

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  #13 (permalink)
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Traderwolf View Post
@liquidcci,
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..
Wolf

@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."

Last edited by liquidcci; May 16th, 2013 at 07:05 PM.
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  #14 (permalink)
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Thanks for the advice guys. I'm looking at things from a positive view point now...

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  #15 (permalink)
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liquidcci View Post
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.

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!

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  #16 (permalink)
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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.

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  #17 (permalink)
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ctmvas View Post
Staring in front of my monitor the whole day is difficult for me to do. It’s boring. It bores me to death. It’s so frustrating because it takes 1 second to backtest a strategy, but then when it’s time to trade, and I have to sit in front of my monitor for 8 hours waiting every 5 minute bar to complete. It simply sucks. Maybe I lack patience.

The worst part is when I will leave my desk to do something else because I’m not seeing any opportunities, or I don’t foresee any opportunities because the way the chart looks, and I will come back to my desk and notice a move a move I missed. This blows.

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.

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  #18 (permalink)
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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."
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  #19 (permalink)
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liquidcci View Post
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.

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!

Richard
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