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Taking a break from trading
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Created: by Big Mike Attachments:3

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Taking a break from trading

  #11 (permalink)
Site Administrator
Manta, Ecuador
 
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Itchymoku View Post
Honestly, @Big Mike do you have a list of poll ideas waiting to be released every once in a while, or do you just randomly update it whenever you get a new one you think is worthy enough to be posted? Each one is pretty good so I know you have some method to it.

Random as I feel like it.

Mike

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  #12 (permalink)
Site Administrator
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I should add, they are normally inspired by whatever "theme" I am seeing on the forum at any given time. Usually the poll is designed to get people to think about something they maybe hadn't previously considered.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #13 (permalink)
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Ironically, I think it's been years of just non-stop charts and trading related activities. I take a day off here and there but nothing longer than a few days consecutively.

I wish I had enough money that I could just pack my bags and purchase a plane ticket and travel N' trade for a year or two but I know it wouldn't really work out the way I'd want it to lol

technical difficulties would arise.

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  #14 (permalink)
Site Administrator
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Itchymoku View Post
Ironically, I think it's been years of just non-stop charts and trading related activities. I take a day off here and there but nothing longer than a few days consecutively.

I wish I had enough money that I could just pack my bags and purchase a plane ticket and travel N' trade for a year or two but I know it wouldn't really work out the way I'd want it to lol

technical difficulties would arise.

Just travel somewhere by car that is 6 hours away that is a bit of a tourist spot, spend the night in a cheap hotel for a long 3 day weekend, and don't bring your computer or tablet. Enjoy atmosphere, food, local events, people watching, and just clear your head.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #15 (permalink)
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Big Mike View Post
Just travel somewhere by car that is 6 hours away that is a bit of a tourist spot, spend the night in a cheap hotel for a long 3 day weekend, and don't bring your computer or tablet. Enjoy atmosphere, food, local events, people watching, and just clear your head.

Mike

I like to find some hole in the wall town with a decent hotel and restaurant and enjoy the weekend. Sleep late, eat good, lounge around, just waste time. No where to be, nothing to do...

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  #16 (permalink)
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Massive l's Avatar
 
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Weeks go by where I don't trade, just monitor swings.
Several years ago though, I had some drawdowns where I took a 2 month break here and there to figure out my issue(s).

Psychology > Strategy ≥ Money
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  #17 (permalink)
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When I came back to my custom platform after the move, about a 5 month hiatus, I ended up completely rewriting several core functions because when I looked at them with a fresh pair of eyes it was obvious how much room there was for improvement that I had just been blinded to before.

So in other words, it does a lot of good to get some space and fresh air.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 4 users say Thank You to Big Mike for this post:
 
  #18 (permalink)
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Massive l View Post
Weeks go by where I don't trade, just monitor swings.
Several years ago though, I had some drawdowns where I took a 2 month break here and there to figure out my issue(s).

I respect that - watching and waiting, but not trading if criteria aren't met. That takes a lot of willpower. For me this is something that is the most difficult to do since I'm very impatient and my system works best if I wait. I can make a ton of money in replay since I can replay time faster than normal and speed time up till I find my entry but it means nothing if I can't wait in real life. How do you pass the time while you wait? What hobbies or activities help you occupy your time before or after observing for your setup?


Big Mike View Post
Just travel somewhere by car that is 6 hours away that is a bit of a tourist spot, spend the night in a cheap hotel for a long 3 day weekend, and don't bring your computer or tablet. Enjoy atmosphere, food, local events, people watching, and just clear your head.

Mike

This definitely sounds like something I need to do considering I've outdone the beach spots this summer in the lower parts of Delaware and they're no longer a viable option since the water has gotten colder. 6 hours sounds about the right distance to get to a new place geographically speaking. Maybe I can go to NYC or somewhere near Washington D.C.. I might even just go to Chincoteague for a nature retreat.


tturner86 View Post
I like to find some hole in the wall town with a decent hotel and restaurant and enjoy the weekend. Sleep late, eat good, lounge around, just waste time. No where to be, nothing to do...

Terry this seems interesting and something I'd actually enjoy taking part in surprisingly. I'm getting older (27) and I'm getting over the whole bar / club / concert / sporting event / people-in-general scene. I like spending time with close friends, but not so much groups or crowds. If I'm not seeking a girl / date, then I don't really feel a need to be around people in a social environment with strangers. I'm not a very social person with people I don't know so I might look for a more people-less tourist place if that makes sense.

I was watching documentaries about Iceland while going to sleep because it seems like a potential remote and relaxing yet naturally stimulating place to travel and observe geological abnormalities. I'd like to get away from it all and go to a place far away that people rarely visit that's truly beautiful. A place where I can zone out and be distracted from everyday life while also be completely amazed by things like geysers, lava, or hot springs with cool looking monkeys.

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hey man if getting to these ridiculous places helps me get away from the charts it's worth it!

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  #19 (permalink)
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Taking time off...on a smaller time frame: take a 17 min break every 52 minutes, says these researchers...

The perfect recipe for productivity: rest 17 minutes every 52 ? Quartz

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  #20 (permalink)
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Itchymoku View Post
I respect that - watching and waiting, but not trading if criteria aren't met. That takes a lot of willpower. For me this is something that is the most difficult to do since I'm very impatient and my system works best if I wait. I can make a ton of money in replay since I can replay time faster than normal and speed time up till I find my entry but it means nothing if I can't wait in real life. How do you pass the time while you wait? What hobbies or activities help you occupy your time before or after observing for your setup?

There came a point where I was tired of being burned on forced trades.
So I was forced to not trade if I wanted to make a living out of it.

To pass the time...I train for Crossfit/Olympic/Power lifting competitions.
I train 2 times a day 3-4 days a week and train overall 5 days a week.
I also eat a lot of food. I golf, float the river, hang out at the park,
go to the farmer's market, etc.

Psychology > Strategy ≥ Money
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