| Trading Psychology How do we learn to conquer our fear and greed? Discuss the mental aspects of the game. |
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| | #17 | ||
![]() | Re: Sustaining Focus and Concentration 11:30 check out trader chat rooms; 11:55 lunch and etc... Two important items to always keep me connected even while on break: 1. Audible alarms: I have alerts that will signal me when a trade set-up is within range. This signal tells me to "get back to work". I may be in the next room or even shooting a game of pool to relax. But, when I hear that signal, I will literally run as if it were fire drill! Laughing at yourself is great way to ease the nerves and back into the market. 2. Stop watch: if I need to take a 5-minute break or pit stop I will literally use a stopwatch to time me- the watch hangs around my neck. This keeps me honest and to avoid distractions. I hope that this helps! | ||
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| The Following User Says Thank You to joseph000 For This Useful Post: | ||
Soultrader (03-17-2009) | ||
| | #18 | ||
![]() | Re: Sustaining Focus and Concentration I prefer a stiff coffee or energy drink to keep my mind on matters. It also helps when you may be feeling a bit sluggish. Make sure you have had your breakfast. I have 2 monitors so I can multitask. I'll have my chart of what I'm trading on one screen, and I'll be playing poker/utube'ing/e-mailing/chatting on the other one...So when you're ready to pounce you won't miss it. You can't trade every opportunity, just keep yourself prepared...and if you're a scalper, there's NO such thing as a "missed opportunity" because the patterns repeat dozens of times a day. I think a few distractions are ok, because sometimes the sidelines can be a good place to hang. It's unrealistic to trade everything...I trade FX, so I must make sure I'm always watching, but only trading PEAK hours/setups. | ||
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| | #19 | ||
![]() | Re: Sustaining Focus and Concentration This is one of the core problems with the concept have creating a plan and following it AND EVERY TRADE to the letter... you can't get every trade because your brain doesn't have the energy... and if you try, you take ones that aren't so great and further degrade your mental energy ... or what as you know we call Psych Cap. It is one of those things that falls under the rubric "Well the reality is...." DKS aka TP | ||
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| The Following User Says Thank You to traderpsyches For This Useful Post: | ||
diablo272 (04-14-2009) | ||
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