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Hi all, since once in a while I have problem with sleeping well, I looking for a cognitive test to prove that I'm sufficient alertness to trading.
A short test (5 minutes or so) that I can make consinstently every day before open the platform and check in a quantitative manner, with a score, if I can sustain attention and I'm enough alert.
Now, the tests are a lot and different. But which one choose?
I know, I would need to test one by one and evalutate which one fits my needs, but, I'm not a psychologist. I woul like to hear, if you check your cognitive state before trading, how and which test you take, or if already exist a popular test for traders that I'm not aware of it.
Thanks
Can you help answer these questions from other members on NexusFi?
Now that I am trading full time, I don't have the luxury of suspending trading when I am not there 100% mentally. The only thing that will shutdown my trading is losing control of my emotions.
You should have a setup or plan where you can pull the trigger if you are half asleep.
I trade swing points at SR, so there is a lot of waiting. Watching charts by their very nature is hypnotic.
When the setup / conditions develop, you need to shake off the fog and go in.
So, I suppose what I am trying to get across, is that you need to trade. You will be tired and groggy some
days, but can you afford to miss the perfect trending day because you are a little sleepy? Believe me, at my
age I am sleepy most of the time !! ... but I must BE THERE!!
You must be at the screens every available moment you can bear, in order to find the most favorable
setups.
At the very least you should be checking in on the completion of every 15 or 60 min bar.
I have also found this to be true. The more rested and alert I am, the more my brain works to tell
me all the reasons I SHOULDN'T take a trade. So I hesitate, price hits my area, bounces hard
(the condition I am looking for) and runs off without me.
The key is to take every trade that "could" work and meets your criteria. The rest is up to the markets.
But even on perfect trend days, if I'm not focused enough, I make Bullshit decisions, so it's better for me stay completly out for that day. My setups are not so go-no-go as seem you describe yours.
This is a great tip, I never thinked about it, more we are rested ---> more we think ---> more we are worried to do the right choice. Another paradox of trading: you need to be rested but not too much
... but I must BE THERE!!
