What do you do?

TBH Tom I wasn't just pulling your leg 'up thread', if you feel that the only way you can be successful is by being alerted 24/7 then something is not quite right. It is a lifestyle job, (in as much as we have no style or life initially) but at your stage of trader development you should have by now evolved to be relaxed when you're in even when you're out doing other stuff..ffs, you are good at what you do.

Whilst (sadly) my first waking thoughts are generally "market, what overnights am I in?" etc. I've learned to cope/adapt to this unavoidable low level stress part of the swing trading job..
 
advfntrader said:
is it not more worrying that you sleep beside your trading screens.....
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6 screens for porn at bed time.
I had a dream the ftse tanked and I was in a 5pp a few months back. Was gonna short when I woke up. Lucky I didn't.

Point is... dreams are dreams. I know cos that's the only time I see blue bottom line.
 
all very well but my wife wouldn't put up with 6 screens for trading or p0rn beside the bed ! lol
 
Option C

I think a trader's intuition/gut feeling is important in many ways and I think over time and many experiences this can be honed and improved. In the same way that I'd get out a trade if my instincts tell me something isnt right but my trading system is telling me the trade is correct, I would take a trade against what my trading system tells if my instincts are that strong. Call it ill discipline or whatever, but we're only human at the end of the day. :D
 
trader_dante said:
I would be really interested in other people's opinion on this experience I had and specifically, what you would do in this situation.

I was watching CL for the last three days and I've had a strong feeling that it's going to break $80.70 to the downside.

I wasn't sure whether it was just going to flush out the D1 lows or actually make a sustained break of them but it was the only thing that I felt strongly about when I looked at the markets.

The reason for this feeling was that one of my theories on S/R is that the more they are tested, the more they are likely to give way and CL is currently on it's 12th test on the D1.

At any rate, I was talking to a fellow trader late last night before I went to bed and he also trades CL. And I said to him "watch that Crude tomorrow (meaning, of course, today) because it's going to go down".

Then a short while after I finished speaking with him I fell asleep.

Next thing I know, in the middle of the night, I wake up suddenly with this strong feeling that I have to get LONG CL immediately. The strange thing was that I couldn't remember having any kind of dream before I woke up. I was just suddenly wide awake and I had that kind of feeling you get when your eyes open and you have that split second of intense fear that you have somewhere to be and you've slept through your alarm.

Now I am lying right next to my screens which is how I sleep so I could have got up and just immediately taken a position but instead I just lie there, staring at the ceiling and I say to myself, "Don't be ridiculous, you want to be short, it's sitting right on the level and it hasn't gone anywhere..." And then I get to thinking "Why is that just sitting there with the Euro down over 3% in two days trading?" and soon enough I drift back to sleep.

This morning I am relating the phenomenon to my friend and before I have even got to the end of the story he is scrabbling around for his account login to crack it long.

Now, I've been watching the market today and I've seen no entry (either long or short) that I would normally take and yet the market is now up $3.

Which leaves one happy friend and one slightly bemused Dante.

So the question I am genuinely interested in hearing other traders views on is what would you have done if this had happened to you:

a) Ignored it and done nothing.

b) Immediately taken a position at full size.

c) Immediately taken a position at reduced size so you have some exposure.

d) Something else that I haven't covered.

Thank you for your time reading this.

Tom
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Take 2 repositories for the bull5hit your mind is feeding you, 3 morning after pills in case the repositories don't work, finally, stick I poster of chuck norris on your ceiling to remind yourself that chuck will never hesitate if fact the Market hesitates while chuck makes his move

Good luck
 
Are we sure intuition isn't being confused with experience here? Perhaps a deeply embedded subconscious skill simply identifies set ups/patterns and or fundamental situations that you've seen 'ryhme' a thousand times before?
 
trader_dante said:
Now I am lying right next to my screens which is how I sleep so I could have got up and just immediately taken a position but instead I just lie there, staring at the ceiling and I say to myself, "Don't be ridiculous, you want to be short, it's sitting right on the level and it hasn't gone anywhere..." And then I get to thinking "Why is that just sitting there with the Euro down over 3% in two days trading?" and soon enough I drift back to sleep.

So the question I am genuinely interested in hearing other traders views on is what would you have done if this had happened to you:

a) Ignored it and done nothing.

b) Immediately taken a position at full size.

c) Immediately taken a position at reduced size so you have some exposure.

d) Something else that I haven't covered.

Thank you for your time reading this.

Tom
Click to expand...

I don't like the idea of sleeping with my computer on.:eek:

My trading starts at 8:00am and finishes at 17:00, sometimes at 12:00. If US market is closed (like today), I don't trade. Also I rarely trade on Fridays. The rest of the time I look at the charts if I feel like doing some analysis.
IMO Trading should be effortless.

Answer to your question - I would ignore it.
 
I used to not like crude outside of the pit hours in London and NY at all because of illiquidity but that seems to have improved a bit in the asian session lately.
Big Thanksgiving holiday in the USA Thursday and then Friday is black Friday, the big shopping day. Most traders won't be back until next week. I have seen a few setups I like, I just don't trust them to go anywhere and I don't feel like being chained to my screens babysitting them
 
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Maybe your subconscious is powerful and was working on the solution at night and maybe it wasn't. Subconscious can be very powerful, more so than the conscious in some ways in my opinion. But either way, unless it gives you an entry an exit, and has positive expectancy it was only mildly useful to make the trade.

So instead of wondering whether you should have entered, why not consider the fact that you had an upward bias all day, it went up significantly, and went up with minimal retracements all day, and you couldn't find a single way to enter into that. Can you really not see any good entires in that? Not even to catch part of it? Really?
 
The replies on here are quite astounding.

Am I the only one that sees an obsessive compulsive and a single coincidence ?
 
I think you need a certain amount of obsession in order to drive you on, especially in the formative stages and I think having the availability of time to observe is a big plus over perhaps others who are time poor. And I can also see how some personalities will not rest until they reach a sort of plateau of understanding which meets their own ambitions/ levels of acceptable knowledge base.

However , perhaps waking in the night if one has not attained that level with a view to considering placing trades, I'd be inclined to suggest , shut off the screens, get some rest, or if you do want to make the option of round the clock data// chart availability, then know that you are just observing and should not likely place any trades, until one is fully alert and attentive.
 
Let me try and condense my thoughts on the matter, no matter whether day or night, do not take the p!ss until you can see the p!ss being taken.

It all ties in doesn't it ? It is the seeing of the p!ss being taken that enables one to be a p!ss taker. And that explains the difficulties of being unable to take the p!ss, how can one be expected to if one cannot see the p!ss and it being taken ?

See the p!ss, be the p!ss, take the p!ss !
 
spinola said:
Let me try and condense my thoughts on the matter, no matter whether day or night, do not take the p!ss until you can see the p!ss being taken.

It all ties in doesn't it ? It is the seeing of the p!ss being taken that enables one to be a p!ss taker. And that explains the difficulties of being unable to take the p!ss, how can one be expected to if one cannot see the p!ss and it being taken ?

See the p!ss, be the p!ss, take the p!ss !
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So how does the first person taking the P1ss get started?
 
Shakone said:
So how does the first person taking the P1ss get started?
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Well if we know that in the beginning god said, let there be p!ss, and it was so, then that is pretty much how it is today. We know the p!ss is there, but if a trader does not have a series of edges then he or she is at risk of "p!ssing into the wind!"

So the 1 st step I would like, would be the Time Edge.

This is when a student realises he or she must allocate themselves the time to study. Think of uni students choosing to get an education over 3 years plus Full time.

I think from this base of having in place the time edge, then the T/A edge, technological edge, psychological edge, performance edge will have better chance of developing so the student graduates with his Trading Edge.


But if we take away time edge, the others are potentially all at risk of not having the conditions in which to develop.


So , that's a starting point perhaps. If people do not manage the time for themselves, we should not expect them to develop as efficiently or effectively perhaps as those who have a Time Edge.


I don't know what everyone else thinks , but that's what pops to mind...


All those who will give themselves 80 hours a week for a year , stand there, all those who choose not to, go and do that other stuff then which you think is more important to you.
 
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