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You might consider measuring your alertness through the day, there are apps like Alertometer aimed at industrial workers.
Over time a person's stamina will increase. I have been trading for nine months and I no longer feel bored or frustrated. If the trades are there, I take them.
Can you help answer these questions from other members on NexusFi?
Day trading requires volatility to make money and the morning session is often the most profitable. You might find it helpful to break the day up into 4 or more sessions morning, afternoon, evening, and overnight. For each session, give yourself a loss limit. So, if you do well in the morning session then you take a break or if you don't you give yourself a break but still have an opportunity to make some back. The benefit is you can take 2 breaks in one day.
I suggest you give yourself a daily loss limit and a profit target. If you don't have a profit target then what's probably going to happen is your going to trade until you get tired and start making mistakes and give some back.
The other problem is that if you keep doing what your doing then your training your brain that the way to quit trading is to lose. So, you have to lose. If you keep trading when your down then that would break that habit but then you run the risk of having massive loss days.
One other thing, as the day goes on you are more likely to be trading against systems or traders who have learned something during the day. So, that's another thing. What you do though is you don't sit out the sessions where you don't trade well, you could but you just trade smaller size and study those sessions until you figure that session out or maybe the next session.
Yes, i think you need a profit target or a goal. You need to keep your head in the game and that's your problem. Something that might help you is to try to trade on both sides of the market after you finish your morning session. This will force your brain to work harder and make it easier to stay focused.
It is tuff pill for me to swallow when I take 3 full losses and know its time to quit for the day but pride and greed tells you to keep going.
I am starting to see the logic in quitting and having a hard loss limit. I have proven to myself that after 5 or 6 losers in a row, I can't dig myself out the hole.
There is no set limit. Though all maybe correct..but each to his..her own.
If the next trade has conviction per ones setup should there be histation. NO right answer. One needs to figure it themselves.
If not why a loss limit....someone should not even take a trade if not per ones setup
For me it's not a loss limit or being wrong in a trade. I maybe more wrong than correct. Dies one hold on to a looser is the bigger question. However if it's a setup I believe in I have to take it.
