Beating impulse trading / overtrading

Doomberg

Established member
960 75
One of my biggest downfalls in my time day trading has been impulse trading for the sake of it. How did you stamp this out? I've started using a separate SB account and playing about with £2 a point when i feel the urge to take trades that are not A+. Or is that just totally the wrong mindset in the 1st place?

How do / did you deal with it?
 

justtrader

Well-known member
470 71
One of my biggest downfalls in my time day trading has been impulse trading for the sake of it. How did you stamp this out? I've started using a separate SB account and playing about with £2 a point when i feel the urge to take trades that are not A+. Or is that just totally the wrong mindset in the 1st place?

How do / did you deal with it?

I think the biggest cause of impluse trading is too much chart time.
Its very hard to just sit there watching a price move and not a part of it, the way I have learnt to cope with this, is to set set my alerts then turn off my charts and do anything else but look at charts, read the mail ,watch a movie, read t2w, anything but chart watch, your alarm will alert you.
Even 2 pound trades can become 23 pound a point trades I have learnt from bitter experience.
Its not screen time that's the problem its chart time.
 
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