Do you ever get bored when trading? I hear this quite a lot. In fact, it is often day trading boredom that can cause us to lose our grip on a disciplined approach. After all, there are few things more exciting and ultimately satisfying than taking a trade you should not have – and then winning big. It delivers that guilty pleasure of being an outlaw, rebel, and hero all rolled into one. Good guys wear black! Unfortunately, this scenario is highly addictive, and it has cleaned out many accounts. Let’s just put it this way: it is crazy! Just say no!
The question is – How should you deal with day trading boredom? For some, it leads to hyperactive behavior like micro-scalping. There is nothing wrong with that, but you better know your stuff. Otherwise, it is equally just as crazy as taking the trade you should not have.
Frequent boredom killers are watching TV, a movie, or surfing the net, knitting (ya, right) – all the while keeping an eye on your trading charts. The problem is, these solutions take away from your “chart time,” which is the same thing as “ice time” for hockey players. The number of hours staring at a chart and learning how it moves when certain conditions arise along with data produced by your indicators cannot be taught. Just like you cannot figure out how to “stick handle” a puck by just talking about it. You have to do it: stare at the chart, think, make notes, and then test your ideas.
I recently wrote a post discussing four sure-fire ways to overcome trading the coming weeks. If you use any of the methods discussed in the article, you will never be lured into taking a bad trade again because of day trading boredom.
