First time trading nerves

vettelsfinger

Junior member
20 0
Hi Tom,
For me, trading stress means boredom. I'm not a very patient trader and sitting watching a trade doing nothing is a tough gig for me. I'd almost rather it went against me and I'm stopped out - so long as it does it quickly - than be stuck in a trade going nowhere. (Note emphasis!) By the same token, I'm hopeless at putting on a trade and then walking away from it and letting it play out - I want to monitor it all the time. It's for this reason I've never liked swing trading. That's what I find stressful - rather than the stress some traders feel in terms of whether or not the trade is a winner.

The way I try and manage it is to only trade the first 2 hours of the U.S. session - which tend to be the most volatile. (I only trade U.S. equity indices.) Even so, there are days when the Dow just meanders around within a 40 point range and I loathe days like those! So, I'll do other things - e.g. spend time on here - but the danger there is that one isn't then focused on the market and paying attention when volatility suddenly reappears. If I'm honest, it remains an on going issue for me and one which I'm constantly trying to find ways to address.
;)
Tim.

Hi Timsk,

Hope that you are well, I am in a similar position as due to work constraints I may have to place trades and then leave them to play out! I think there will be little boredom using this approach!

I have managed to place a few smaller trades recently to get in the swing of things, and I am quite pleased to be around break even at the moment. When the market is flat or very volatile would that be your advice... to get away from the screen and leave it potentially for another day? It is not as though I am a day trader reliant on daily profit so this would work for me. Is your strategy time intensive or is it more focused on big positions?

Hopefully from my side once I start placing bigger positions the prior experience and guidance will help.

Thanks
Tom
 

timsk

Legendary member
7,612 2,383
Hi Tom,
. . . When the market is flat or very volatile would that be your advice... to get away from the screen and leave it potentially for another day? It is not as though I am a day trader reliant on daily profit so this would work for me.
I'm not in a position to advise you I'm afraid as this rather depends on your trading style and the market conditions that suit you best. Some people prefer jack in the box type instruments - others prefer plodders. As a generalisation, I think it's fair to say that most traders prefer volatility as it's tough to make money out of an instrument that doesn't move very much.

Is your strategy time intensive or is it more focused on big positions?
I'm not entirely sure what you're asking here? I aim to catch intra day swings and am flat at the end of the day. Although I have open candlestick charts (3m, 15m and 60m respectively), I pay much more attention to my Renko charts which are not time based. I adjust the brick size according to the volatility on the day. If you're unfamiliar with Renko - check out this link. I hope that answers your question!
Tim.
 
 
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