How does day trading affect your health?

[Canadian]

Can we get some insight into this matter? Is it just me who gets tired, stressed and anxious or is there any other people who feel the same?

 

[kevinmcm]

Can we get some insight into this matter? Is it just me who gets tired, stressed and anxious or is there any other people who feel the same?

I can relate to all of the above as a beginner when I started dabbling seriously in this business. I get tired if I am screen watching and waiting for something to happen. I dont get stressed or anxious anymore as I will cut loose a position if I suspect I have got it wrong. Having enough insight to realise that something aint right and you may have made an error is an important evolution of playing the markets. If you have a good enough strategy and you are making more than you lose then it should diminish the amount of stress or anxiousness you feel.

Depends on what your are doing as well, indices, fx, DOW? size of position, full/part time, learning/experienced.

A nugget from Livermore 'A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking a loss - that is what does damage to the pocketbook and to the soul.'

That and lack of patience are IMO the two biggest mistakes that people make and would lead to stress and anxiety.


Kevin.

 

[peterpr]

Can we get some insight into this matter? Is it just me who gets tired, stressed and anxious or is there any other people who feel the same?

I find day-trading much less stressful than swing/position trading and the bulk of the return on my overall trading pot is from intra-day work. It's holding positions overnight, with the price close to necessarily wider stops and consequent larger drawdowns that I find stressful. Stops triggered by out of hours factors can slip alarmingly too which adds to the problem and makes tight risk management more problematical. Screen watching can be tiring, but I certainly don't find it stressful.

All IMHO of course - Day trading isn't everyone's cup of tea I know, but it's mine, and like everyone else who has been at it for a while, I've tried most approaches..

 

[JillyB]

I find day-trading much less stressful than swing/position trading and the bulk of the return on my overall trading pot is from intra-day work. It's holding positions overnight, with the price close to necessarily wider stops and consequent larger drawdowns that I find stressful. Stops triggered by out of hours factors can slip alarmingly too which adds to the problem and makes tight risk management more problematical. Screen watching can be tiring, but I certainly don't find it stressful.

All IMHO of course - Day trading isn't everyone's cup of tea I know, but it's mine, and like everyone else who has been at it for a while, I've tried most approaches..

I agree with you on this one. I hate leaving positions open over night. I would much rather scalp a trade over a few minutes or an hour. At least I know when I shut the computer down at the end of the day my trading kitty is safe - I am not going to come back in the morning and find part of it has disappeared.

It doesn't suit everyone though - as you say - you have to try the different methods to come up with what you are most comfortable with.

A couple of hours trading and I can walk away - go and have that glass of wine etc.... and not worry about what is happening with the markets as all my trades are closed. Much more civilised in my book.

 

[SOCRATES]

I do not find any of it stressful at all. I find it extremely interesting and absorbing, as I view it from the intellectual challenge that it yields and do not succumb to emotional stimuli and other nonsense.
The desired mental state is to view all of it with cool detachement, because only then can you allow yourself the space to act rationally, as if you were just paper trading, and I put in many hours in front of screens, anything up to 15 hours a day, without complaint. I used to experience withdrawal symptoms on weekends and holidays, but these feelings disappeared about 3 years ago and have not returned.
It is a matter of evolvement, it takes time, a lot of time, and it cannot be hurried.

You have to give time to time,
and then time will be generous and give you time,
but if you do not give time any time,
how do you expect time to give you any time at all ?

 

[donaldduke]

It helps to have a balanced life, if trading is your main focus in life, it can be mental torture.

A traders short term trading results should not be important to him. You should be able to go through
weeks of losing and months of not making any sizeable profit. An easy way to do this is to
have other areas in your life to keep you occupied.

Also day trading is highly addictive, the emotional highs and lows and the need for action could easily turn
the trader into a compulsive gambler without them even realising it.

If you have not got what it takes to be a succesfull day trader and you continue to day trade eventually
the psycological pressures wipe out your account, probably lead you into debt and eventually destroy you.
Thankfully most people stop way before that happens but some cannot.

 

[Mr. Charts]

"How does day trading affect your health? "

It makes me happy and healthy because I enjoy it so much.
As Socrates says, once you're on top of it, it is intellectually stimulating and you are in control.
Richard

 

[Bigbusiness]

....The desired mental state is to view all of it with cool detachement, because only then can you allow yourself the space to act rationally, as if you were just paper trading....

Just for a change, I am a bit different to that. I was never any good at paper trading, I need to feel a bit of adrenaline to trade properly. That helps me keep focused. It is the same when I play sport. I am at my best when there is a bit of pressure on and I concentrate harder.

I had the golf on in the background today and they had a sports psychologist explaining that some golf players perform worse when they feel the pressure and need to detach themselves but other players do better when they are in tense situations. The cool detached state of mind worked well for Bjon Borg but John McEnroe had a different way of focusing his mind and was also successful.

Perhaps trading can not be compared to sport but I am sure there are many successful traders who use the McEnroe method

 

[SOCRATES]

Yes, but the problem is that it cannot be sustained indefinitely, because it leads to exhaustion and eventual mulfunction. An adrenalin burst can be factored in for a short period of time, but not indefinitely and every day and every week. Trading is not like tennis. A game of tennis does not last that long, whereas trading, properly conducted, can go on for hours, all morning, and all afternoon, and all evening, and late into the night, by choice rather than necessity.

It is far more convenient and comfortable to preserve a mindstate which balances being totally alert and at the same time being totally relaxed, and in which the ability to respond, in a nanosecond if necessary, is not impaired.

 

[RUDEBOY]

Canadian, banned after only 6 posts! Way to go matey! Obviously stressed out!

 

[barjon]

Canadian, banned after only 6 posts! Way to go matey! Obviously stressed out!

rudeboy

associated with a group (multiple nics) of serial spammers although the posts under Canadian were innocuous enough.

jon

 

[RUDEBOY]

Right.

 

[nine]

I think it was stressful keeping track of the number of identities he was posting under. He actually used two in the same thread (trading hours) --- bad form.

 

[trendie]

I find this stress-test helps to tell if you are in the right frame of mind to trade.
If I fail the test, I take the day off.

http://webpages.charter.net/hkirtley/stress/

 

[Salty Gibbon]

Just tried your test Trendie.

I must be ok because all I could see were 2 perfect dolphins.

 

[Jdax]

I just tried the stress test and I see a Dolphin and a cow.... is this test for real ?!.

 

[watsone]

I find this stress-test helps to tell if you are in the right frame of mind to trade.
If I fail the test, I take the day off.

http://webpages.charter.net/hkirtley/stress/

thanks trendie best laugh i've had this year!

 

[LION63]

PLEASE HELP ME I am in DESPERATE trouble. I tried the test 10 times and failed each time, rebooted the computer - still failed; borrowed my wife's glasses - failed and finally had a large scotch and failed again. Could it be that I am suffering the effects of the sun or is it stress related due to trading?

Can anyone here recommend a stress therapist or shrink? Preferably one that will take cows in payment.

Only traders with genuine concern and sympathy need reply.

 

[Mr. Charts]

Hoi Salty,
Can't you see a dismembered Jonathan Ross "aiming for" Janet Street Porter?
Richard

 

[Salty Gibbon]

I have been conversing with my wife for 30 seconds and now I am stressed somewhat.

I can now see a dolphin and a 5 legged porcupine with a hook nose, gap teeth and a 45DD bust which is obviously artificial.

What do you think it means ?