I’ve noticed that after one or two solid winning trades, I lose all enthusiasm for trading. I get sleepy and restless at the same time. I just want to take a nap, or go outside and do something. Anything but keep sitting in front of those screens! I usually force myself to stick around at least until 2PM EST, but I can’t seem to find any more trades to take. But, I know the trades are out there, because I can always find another trade to take when I’m red for the day. Funny how that works!
Maybe a lot of traders don’t have this problem, because it seems like a lot of traders out there can’t stand to be away from the markets. I enjoy trading, but I don’t have any real drive to do it beyond needing to pay my bills. I definitely don’t have any sort of gambling addiction.
So, the last two days I’ve been trying a way to attack this problem… I offer myself small rewards to continue trading. In particular, the last two days I said to myself: Just find one more winning trade, and then you can quit and go see a movie.
Making this deal with myself has worked wonders so far. What do I get? Having a goal perks me up and helps me focus. After the trade, I get to quit early. Then, I get to go see a movie (or have a massage, or buy a book, or whatever I chose). And, any winning trade I find will make more money than I’ll be spending, so I come out ahead financially.
This is kind-of a cousin to the suggestion I made long ago: go spend half the money you’d lose on yourself, instead of trading through a bad day. At least then you’re enjoying the money instead of throwing it away.
July 18th, 2007 at 9:28 pm
u reward yourself with a massage…glad to see the story has a “happy ending”
July 19th, 2007 at 1:50 pm
I don’t have this problem, so I’m not sure if this will help. I made sure my trading room is realy nice to be in, and is very comfortable. I think that helps. Another thing I do is to find productivity tools. They can be fun to learn and use, and will make trading less stressful, which should keep your energy up.
For me, I’d have to be a 2 million for the year to get bored. It hasn’t happened yet.
- TraderD
July 19th, 2007 at 2:42 pm
I’m very comfortable in my trading environment, and all that. For me it’s like there’s a switch in my brain that flips once I’ve paid my bills. I could keep trading and risk losing the profit, or I could go do something else. I’m very lazy at heart… no drive to go for the $2mil!
I don’t know if there are many traders like me in this respect… I guess I doubt it. A lot of traders seem addicted to it, to me! (by comparison, at least!)
I’m curious about the productivity tools. What kinds of tools?
July 19th, 2007 at 2:43 pm
If the TradingGoddess notices my last comment, I’m sure she’ll scold me for my lack of drive (and possibly suggest some nutrition supplements)! :-)
July 19th, 2007 at 3:34 pm
We are very different! I get the shakes if I’m away from the markets for a day. True story.
July 19th, 2007 at 3:50 pm
I see trade ideas as a productivity tool. Besides alerts, it can give you information on market turns, by running a window with SPY, QQQQ, DIA, OIH, TLT for instance.
I really like button trader so far, which is really a pure productivity tool, beside making me trade correctly, by getting triggered into breakouts rather than waiting for a wrong way pullback and think I’m getting a good price.
And stealing your move the markets list every week. That saves me a boatload of time :).
- TraderD
July 19th, 2007 at 3:52 pm
Trade-Ideas is awesome, I agree. I depend on them quite a bit.
July 20th, 2007 at 1:35 pm
Here’s a website you may find useful. http://www.addicted.com is a site for friends, families, and those who suffer from various addictions.
July 20th, 2007 at 5:48 pm
Whew! I found out from Howard that I’m not a stock addict after all! Are You addicted to the Stock Market? That was a close call. Thanks anyway, gambling addiction! Looks like I’ll have to turn my efforts back towards my kleptomania and binge drinking.