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Hello I was just wondering what people do when there is no trade on.....Work from home,games,T.V.,Phone etc. My wife and Kids are gone all day so its to quiet here. I looked into Transcribing jobs just to do somethine else so I dont over trade. Any Ideas. Thanks in Advance!
Incometrade
Can you help answer these questions from other members on NexusFi?
Trading is such a mentally demanding job. You spend 1 hour each morning just preparing to trade, then spend 2-4 hours trading, and then at least 1 hour analyzing your trades, updating your spreadsheets and journal. Add to that another 5-10 hours per week refining your methodologies, and you're up to about 7 to 8 hours a day if you are treating it like a business.
I suggest putting in those hours with all your heart and conviction, just like a business. No distractions, just hard work. Then, remove yourself from trading in other aspects of your life so you can relax. You should find something that compliments you. If you are a risk taker and adventurous, these things don't go too well in the market, so you should try to find them outside of the market to keep you happy. Personally, I look to relax and just try to spend as much time away from the office and computer as I do on it.
With a regular 'day job' you have the office water cooler and people surrounding you to interact with all day. With trading, it can be a very lonely job. Many work from home, and I encourage isolation. It is a benefit to work from home, but do not take advantage of it. It means no phone calls, no kids interruptions, etc. Your family must respect it just like you are in a "meeting" at a corporate job. No interruptions. You must respect it, too. It means no trading in your underwear. The forum is the office water cooler, a place to go to talk about work related things, blow off steam, meet friends, etc.
watch cooking shows on TV and occasionally practice the recipes.
If trading gets boring or I blow up I can at least go into another professional that has a high burn out rate, long hours and can be stressful. But at least it will taste good.
Absolutely nothing else than focus on monitoring the market and the next trade. If I can't do this for 2-3h a day, then in my mind I shouldn't bother to trade.
Trading is dead serious to me and I want to treat it with (at least) the same respect as regular office work. I should be able to make enough money in the market within 3 hours, and then I'm out, gone, finished. If not, there is always a day tomorrow.
With this said, I'm fortunate enough to live in a timezone that usually allows me to finish up corporate business during regular office hours before my daily trading session. Thus there is not much of a time conflict, which some people overseas might experience.
If i m in Trade or out of trade. Music keeps on running in my headphones.
I do chat with people on messenger via conference, we have limited group , which works on invite only bases. We all trade same market but instruments can be different. We exchange jokes , thoughts , ideas and at times possible trading opportunities too. Its always good to be accompanied by fellow traders. But yeah at that time , music is always running. Can't think of trading in boring mood. Need to keep myself motivated and charged. Though my trading style is quite relaxed one. I dont like to take stress during trading. And good music always keeps me away from this.
Usually in my pause of trading, i play a online shooter game to keep me sharp and focussed.
I keep an eye on 1 chart to see if the speed is back in the trading, when it is i shut it down and go trade!
We also have some arcade games here on the forum, and you can join tournaments and challenge other futures.io (formerly BMT)'ers Some are quite fun, lol.
play facebook games see the flow all day can make me crazy, wait some levels, see if there are any entry, than play games,i check my position every minutes, but don't watch it all time.
Hello I was just wondering what people do when there is no trade on.....Work from home,games,T.V.,Phone etc. My wife and Kids are gone all day so its to quiet here. I looked into Transcribing jobs just to do somethine else so I dont over trade. Any Ideas. Thanks in Advance!
Some are quite fun, lol.