One of my clients sent me by email today, hoping to understand how I deal with boredom and loneliness from full-time working hours. This is a good question, and I hope that traders will consider more before they leave their daily work and turn to the market to make a living.
Wearing your underwear at home always sounds great when you read it in an ad, but if you are used to being surrounded by a colleague, the reality can be shocking. Of course, it depends a lot on your personality and how much you tend to interact with others. But even if you never talk to another person in your daily work, you can at least see other people. Going from this environment to shutting up at home all day is a big change for anyone.
When I first started day trading, I often sat in front of the trading screen all day. Like most proprietary traders trading their own accounts, I work alone. This is the best way to distract attention can be costly. But I must admit that I did find it started to get a bit boring, especially during the quieter lunch hours of the market. Sitting and waiting for the opportunity to trade, no one can talk, suddenly it looks less charming!
However, once I get better and gain some experience behind me, the problem is solved. Look, now I trade for a few hours in the morning. About an hour before the market opened, we are spending some time researching the stocks I will be observing for the day. Then I trade them between 10 am and noon, so it's up to two hours.
During that time, I need to watch ten to twenty stocks, and they usually move a lot [at least they should be, if I did the right research and choose the best ones of the day.] So I was busy off. Track those.
Focusing on those fast-growing stocks, observing potential trading setups, and managing any open trades is enough to get me occupied in a few hours. No time to be bored. If things settle down, then I will stop early. Many days I finished at 11am.
So the simple answer to my customer question is that I don't have time to be bored. For the same reason, I didn't really feel lonely. In fact, one of the main reasons I participated in the transaction was that I could spend less time working and spending more time with my family and friends. Only working morning means that I can do this for the rest of my time.
Orignal From: Conquering the boring day trading
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