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.
u reward yourself with a massage…glad to see the story has a “happy ending”
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
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?
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)! :-)
We are very different! I get the shakes if I’m away from the markets for a day. True story.
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
Trade-Ideas is awesome, I agree. I depend on them quite a bit.
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.
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.