How do you get on with your life while trading?

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MrBrilliant

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I don't trade full time, but I'm trying to learn so occasionally I place a trade and then continue doing my real work.

However, whenever I have an open position, I have trouble focusing on other things... For example today I meant to get some work done but I put on a position in the morning and for the last 2 hours I keep checking on it and I feel anxious about it.

I'm sure I'm not the only one that has experienced this; so I was wondering if someone with more experience could share their thoughts on how they deal with the stress/anxiety and also: how do you manage to shift focus away from that and get stuff done the rest of the day?
 
How do you go for a swim while you're playing a game of tennis?

I'm lucky in that I work late shifts mostly, which leaves me totally free to trade during the day. I don't believe it would be possible for me to trade and do something else as well. Nothing meaningful anyway. Not that my trading is that bloody meaningful either at the moment.
 
MrBrilliant said:
I don't trade full time, but I'm trying to learn so occasionally I place a trade and then continue doing my real work.

However, whenever I have an open position, I have trouble focusing on other things... For example today I meant to get some work done but I put on a position in the morning and for the last 2 hours I keep checking on it and I feel anxious about it.

I'm sure I'm not the only one that has experienced this; so I was wondering if someone with more experience could share their thoughts on how they deal with the stress/anxiety and also: how do you manage to shift focus away from that and get stuff done the rest of the day?
Click to expand...

That's called Fear trading.

It comes to everyone because of
1. Improper planning for trading.
2. Execution issue not taking the trade planned and fear of missing out.
3. Money in account is not actually the trading money but is too big to lose.

Things you can do to improve
1. Do Daily evening analysis of market and morning analysis to improve confidence.
2. Use a mechanical take profit and stop loss strategy to limit risk.
3. Improve execution.

Trading in the Zone is an excellent book which helps a trader in Execution, Fear and other issues.

Enhancing Traders Performance book is also recommended.

All the best.
 
Thanks for the advice Eurex, much appreciated. You're right, a lot of the problem comes from lack of confidence and from fear. I will definitely look into those books.

However, I think that even if I have a solid trading strategy in which I'm confident, and I have my stops, orders, etc. all set up, I would still be tempted to check the status of my trades every 5 minutes. Do you know any way to avoid that temptation, or do you just treat it like any other addictive "checking" behavior (e.g. checking email, checking news, etc.)
 
MrBrilliant said:
I don't trade full time, but I'm trying to learn so occasionally I place a trade and then continue doing my real work.

However, whenever I have an open position, I have trouble focusing on other things... For example today I meant to get some work done but I put on a position in the morning and for the last 2 hours I keep checking on it and I feel anxious about it.

I'm sure I'm not the only one that has experienced this; so I was wondering if someone with more experience could share their thoughts on how they deal with the stress/anxiety and also: how do you manage to shift focus away from that and get stuff done the rest of the day?
Click to expand...
Hello there Mr BOND (Brilliant ) hahahaha ,, just for laughs so i hope u dont mind , Love ur ID .
EUREX summed it up very well .
I just would like to add something .
The problem you are experiencing could also be due to LACK of EXPERIENCE and NOT knowledge ( speaking from my business experience ).
Very few people understand and appreciate the power of experience , and ignore it , thinking that knowledge ONLY would be good enough to be successful at anything . as Experience is what will complete the package . and i believe one can NOT be without the other .
SO please allow me to share this with you that i have made up after 58 years in this life , both on , personal , and business grounds .
Time + Study = knowledge
Time + Knowledge = Experience
Knowledge + Experience = SUCCESS .
Cheers ,
George
 
MrBrilliant said:
I don't trade full time, but I'm trying to learn so occasionally I place a trade and then continue doing my real work.

However, whenever I have an open position, I have trouble focusing on other things... For example today I meant to get some work done but I put on a position in the morning and for the last 2 hours I keep checking on it and I feel anxious about it.

I'm sure I'm not the only one that has experienced this; so I was wondering if someone with more experience could share their thoughts on how they deal with the stress/anxiety and also: how do you manage to shift focus away from that and get stuff done the rest of the day?
Click to expand...

These are just few things that you can do in order to stay calmer:

- You can get your analysis knowledge better learning from courses, books..etc

- Accept that, even having the better analysis tools there's no granted results, so like all in relative the universe, the trading is full of profit-losses trades, so emotionally you'd be prepared to embrace this reality; but there're certain actions that you can take in order not to get into a very extreme bad situation:
1. Set Stoploss orders for every trade ( you must learn how to find optimun levels )
2. Maybe, set a maximun loss for a day

- All of us are emotional beings, and it's normal to live those picks while trading, I've dealt with this just accepting that while trading it'll be always like that.

Summary: accept trading nature, but always learn how to get your trading better
 
Nearly all trading related problems can be fixed by reducing the trading size. So keep reducing the size until you start to think it's a waste of time. Then you can increase size by tiny steps to make it feel less like waste of time but not enough for you to start worrying about losing your shirt.

Also, most trading strategies are gambling. So feeling anxious is normal. If you are able to find ways to stop gambling, the anxiety should reduce. But the market is a harsh mistress. She will get even the most experienced and capable hot under the collar often enough.

Trading takes an enormous amount of time and effort to perfect if unguided by someone who already knows what he's doing. If you are in a hurry, you are sure to lose. But losing is normal also. I estimate 99.9% of the people do.
 
MrBrilliant said:
I don't trade full time, but I'm trying to learn so occasionally I place a trade and then continue doing my real work.

However, whenever I have an open position, I have trouble focusing on other things... For example today I meant to get some work done but I put on a position in the morning and for the last 2 hours I keep checking on it and I feel anxious about it.

I'm sure I'm not the only one that has experienced this; so I was wondering if someone with more experience could share their thoughts on how they deal with the stress/anxiety and also: how do you manage to shift focus away from that and get stuff done the rest of the day?
Click to expand...

Every trader experiences this. Well done to you for admitting it up front. As hard as it may seem have a daily trade plan with stops and targets in place then leave it alone. There is no room for a trader to want to be right. If it helps, depending upon your trading timeframe give yourself a number of bars for the trade to move into profit or scratch it altogether. When you place a trade consider you have lost that money and as any true trader will tell you that it is Winners that concentrate on losses and losers who concentrate on profits.
:smart::smart:
 
pstrusi said:
These are just few things that you can do in order to stay calmer:

- You can get your analysis knowledge better learning from courses, books..etc

- Accept that, even having the better analysis tools there's no granted results, so like all in relative the universe, the trading is full of profit-losses trades, so emotionally you'd be prepared to embrace this reality; but there're certain actions that you can take in order not to get into a very extreme bad situation:
1. Set Stoploss orders for every trade ( you must learn how to find optimun levels )
2. Maybe, set a maximun loss for a day

- All of us are emotional beings, and it's normal to live those picks while trading, I've dealt with this just accepting that while trading it'll be always like that.

Summary: accept trading nature, but always learn how to get your trading better
Click to expand...
Beautifully and perfectly summed up !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!(y)
Cheers,
George
 
MrBrilliant said:
I don't trade full time, but I'm trying to learn so occasionally I place a trade and then continue doing my real work.

However, whenever I have an open position, I have trouble focusing on other things... For example today I meant to get some work done but I put on a position in the morning and for the last 2 hours I keep checking on it and I feel anxious about it.

I'm sure I'm not the only one that has experienced this; so I was wondering if someone with more experience could share their thoughts on how they deal with the stress/anxiety and also: how do you manage to shift focus away from that and get stuff done the rest of the day?
Click to expand...

ha ha "real work" your answer might be here:LOL:
 
MrBrilliant said:
I don't trade full time, but I'm trying to learn so occasionally I place a trade and then continue doing my real work.

However, whenever I have an open position, I have trouble focusing on other things... For example today I meant to get some work done but I put on a position in the morning and for the last 2 hours I keep checking on it and I feel anxious about it.

I'm sure I'm not the only one that has experienced this; so I was wondering if someone with more experience could share their thoughts on how they deal with the stress/anxiety and also: how do you manage to shift focus away from that and get stuff done the rest of the day?
Click to expand...

thats not a healthy situation MrB.........you are trading / risking much too much money per trade

go back to trading for peanuts until it doesnt worry you if you win or lose

N
 
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most people lose in trading because they allocate inadequate time and resources to finding their edge and then fail in following it through to longer term profitability ......

Remember Trading is not life and death .........................its far more important than that...........if you want to win that is......if you dont want to win then put Trading in a box underneath all the other more generally accepted areas of importance like Family, friends and quality of life.....

what ............you honestly believe that stuff about the mega successful people in life have it all disney-style ?

read some honest autobiographies about entrepreneurs..........aint no disney endings there..........just brutal hard work, sacrifices........and train wrecks re family and friend relationships

N
 
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MrBrilliant said:
I don't trade full time, but I'm trying to learn so occasionally I place a trade and then continue doing my real work.

However, whenever I have an open position, I have trouble focusing on other things... For example today I meant to get some work done but I put on a position in the morning and for the last 2 hours I keep checking on it and I feel anxious about it.

I'm sure I'm not the only one that has experienced this; so I was wondering if someone with more experience could share their thoughts on how they deal with the stress/anxiety and also: how do you manage to shift focus away from that and get stuff done the rest of the day?
Click to expand...


http://zenhabits.net/meditation-for-beginners-20-practical-tips-for-quieting-the-mind/
 
Dick Lexic said:
trading is real and it's hard work
Click to expand...

I agree with DL - it is hard work. There are people out there whose 'real work' is to take your money from you (its a zero sum game).

I enjoy what I do but when I have a trade running I watch it like a hawk until its closed. Then its time for a break.
It is stressful, your running a business, and if the trades fail your business fails.
Wanting to check your trade regularly is a very normal reaction if its real money on the line.
If you equate your winnings / losses to the amount of time you would have to spend in your 'real work' and you are risking a days wages or more on your trade, your trading to much.
 
The problem is it is so addictive, if you place a trade then you’re going to want to watch it permanently until it does something, it’s your hard earned cash and you want to see what’s happening with it. I would say if you are just starting out try and limit you’re trading to outside of working hours, that way you can spend the evening or morning watching your positions. The more comfortable you become with the trading part the happier you will become leaving it to do its thing whilst you work, but however hard you try and focus if you’ve got money riding on something you’re understandably going to want to keep an eye on it! That part I’m afraid won’t change or get any easier 
 
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