Question about maintaing focus.
I was wondering what everyone here does to stay focused on trading during the day? I myself have been able to stay better focused by posting on this forum, however until recently I have struggled to stay away from websites like digg, espn, and youtube. Perhaps some of you can share some insights or tips on how I can stay better focused. I used to be a floor trader at the CME and staying focused wasn't hard because there was nothing to distract you and you were never really away from the action.
Thanks.
Thanks.
I have my family wandering around my house so they give me plenty of distractions. The key for me is to trade hard during the first 90 minutes usually of the RT session as they know I am off limits during that time....
The rest of the time I welcome the distractions and trade with much less size. For me it's simple : The more I trade and sit in front of my main computer , then the more money I usually lose or give back.
My suggestion would be to pick 2 - 3 hours where you will just focus on taking the trades if they come. The rest of the time I would find something better to do. Overtrading can crush us as daytraders and I'd rather stay energized for the next day. Getting some exercise during the lunchtime lull is also a great way to get charged up for the afternoon session. Probably anything that can get you up and about and away from the computer would be a good thing.
Sorry I can't be of more help as I'm not sure exactly how much trading you WANT to be doing...
Bruce
The rest of the time I welcome the distractions and trade with much less size. For me it's simple : The more I trade and sit in front of my main computer , then the more money I usually lose or give back.
My suggestion would be to pick 2 - 3 hours where you will just focus on taking the trades if they come. The rest of the time I would find something better to do. Overtrading can crush us as daytraders and I'd rather stay energized for the next day. Getting some exercise during the lunchtime lull is also a great way to get charged up for the afternoon session. Probably anything that can get you up and about and away from the computer would be a good thing.
Sorry I can't be of more help as I'm not sure exactly how much trading you WANT to be doing...
Bruce
Thank you Bruce. That was exactly what I was looking for. Does anyone else have an opinion on the matter?
No-No's :
-- watch TV = CNBC....
-- talk on the phone
-- surf the net
-- e-mail
-- chat
-- Skype
The list of entertaining distractions is endless....
I try to get this stuff out of the way either before I start trading or after I am done trading. I know better than to try to multi-task while trading. Perhaps it works for some people, but I have proven it does not work for me, my trading performance (bottom line) pays the price.
Something that does help me is to collaborate with experienced successful traders that I trust and respect. This provides a mutually beneficial working relationship that helps me stay focused, encourages me to follow my trading plan, and pushes me to consistently perform at the peak of my game. Another benefit is trading partners can help to challenge assumptions or market bias, to help me see things from more than one perspective. Also, it helps to have more than one pair of experienced eyes scanning the markets. It is nice to share the daily trading experiences along the way as well.
-- watch TV = CNBC....
-- talk on the phone
-- surf the net
-- chat
-- Skype
The list of entertaining distractions is endless....
I try to get this stuff out of the way either before I start trading or after I am done trading. I know better than to try to multi-task while trading. Perhaps it works for some people, but I have proven it does not work for me, my trading performance (bottom line) pays the price.
Something that does help me is to collaborate with experienced successful traders that I trust and respect. This provides a mutually beneficial working relationship that helps me stay focused, encourages me to follow my trading plan, and pushes me to consistently perform at the peak of my game. Another benefit is trading partners can help to challenge assumptions or market bias, to help me see things from more than one perspective. Also, it helps to have more than one pair of experienced eyes scanning the markets. It is nice to share the daily trading experiences along the way as well.
Thank you PT! I will definitely work on some of those things you mentioned.
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