Coping with the boredom element

JTrader

Guest
5,741 506
Although often exilarating, one aspect of day trading that I have struggled to adjust to is the aspect of boredom. Day trading is a lonely profession and can be monotonous and involves being available throughout market hours, often with very little to do for hours on end in between trading opportunities.
How do you cope with the monotony aspect of day to day day trading?

I have in the past been drawn to the internet and music as a means of filling in the gaps, but I avoid this now as it can be too big a disruption/distraction from trading. :rolleyes:

I have been in the trading business for a year now. Have more experienced day traders found that the issue of coping with boredom is something that you adjust/adapt to over time and pass through or can it be the opposite in that you find it harder to maintain discipline and focus?

Is it simply a stage or barrier that crops up every now and again?

How do you maintain focus, discipline and motivation?

Cheers.
 
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Racer

Senior member
2,666 30
I don't find it monotonous, I find it addictive!
Seriously though, I have a WinTV card on one of the computers and can watch telly whilst still looking at the monitor and prices/charts. Also getting up walking around, or reading up about shares to buy or sell, research etc., soon fills up your mind.
 

Salty Gibbon

Experienced member
1,535 6
Take a break now and again. The markets do have quiet periods during the trading day.

Go and cut the grass, take the dog for a walk, make a cup of tea, watch the re-run of last night's Corrie.......................
 

Skimbleshanks

1
2,325 16
I do knitting and sewing, and sometimes read a book.

I have my monitors right at the back of a big desk, so I have plenty of room in front for a sewing machine, or a broadsheet newspaper.

Knitting is probably the thing I do most while trading, and I knit 28cm tall teddy bears which go off to babies and children in orphanages in 3rd world countries who have nothing. A bear is usually the first, and only, toy they ever get to call their own. Each one is unique with a brightly coloured jumper, scarf, and trousers and goes off in his/her own drawstring 'sleeping bag' which also doubles up as a carrying bag for all the child's possessions, if indeed they have any. My bears are all over the world and so far I've been able to help transform the lives of 183 children (at the last count).
 

Buk

Established member
615 6
exercise stepper/cycle in the office along with the trusted t.v does for me!.....+ the banter in the FX room whiles away the time....and of course research/study time, but yes jtrader, there are times when it just simply becomes tedius! - all part of the 'lonliness of the long distance trader' I guess :cry:
 

Trader333

Moderator
8,655 981
Well done Skim, I also try to help by sponsoring third world children from childhood to 18 years of age and got the idea once when I was less than fully active.


Paul
 

Racer

Senior member
2,666 30
Oh and another thing I don't tire of watching... the £s going up!
 

Dow Dog

Well-known member
409 0
I have been trading for some time mainly using 5 minute charts and I find that I sit around twiddling my thumbs for ages just waiting for the charts to give me the right formations.

Yes, it is boring as hell and while Mr Charts etc clobber about 100 points before 2.32pm, I am still sitting there at 3.15pm waiting for my first trade. Apart from the boredom it is highly irritating to think I have lost out on trades during what is usually the busiest part of the day as far as price action is concerned.

I am now looking at using 1 minute charts for the first 30 to 45 minutes and I believe that this will get me more active in the market much earlier, reduce the boredom, hopefully make some faster money ( or faster losses ) and then quit for the day earlier than usual.

Anybody got any comments about the wisdom, or otherwise, of this approach ?
 

rossored

Senior member
2,103 56
Dow Dog -

I trade using a 1min chart and sometimes its a bit of a double edged sword : you think it will give you the edge sometimes, and sometimes it does. Other times, whilst I'm sizing up the R/R ratio, the market just ups and offs, and in those instances it would have been clearer on a 5min chart. I rarely get caught trading noise now as I've had a few expensive lessons, but trading 1min does generate a fair bit of it, both in indices and FX. But just like you, I find myself sitting there some days at 3.15 thinking "Hmm, I really ought to have gone short/long/flat there". You're not alone!

What I tend to do now, if I'm trading say, YM futures, is run a 5min S&P chart on the other monitor. That way I get a bit of a clearer, long term picture whilst still having my 1min noise maker churning away - thats helped on occassion.

So far today? 1 winner, 1 loser, both taken on a 1min whilst watching for confirmation / exit signal on the 5min.
 

BBB

Experienced member
1,071 3
I post on T2W. How original is that!!!

Other than that, if I get really board, I just walk away from the markets. Trading when not in the mood for it is the way to the poor house.
 
 
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